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...pain in property and construction has spread. Estonia's stock index is down 60% in the past year. Tourist numbers have fallen. A third of restaurants in Tallinn's old city center are expected to close in the next few months. It doesn't help that a diplomatic spat between Estonia and Russia, which erupted last year following Estonia's decision to relocate a Russian war memorial, has resulted in a 30% drop in exports through Estonia's ports. Combine all that bad news and it's little wonder that Estonia's unemployment rate, just 4.7% in 2007, is predicted...

Author: /time Magazine | Title: The Baltic Mourning After | 11/6/2008 | See Source »

...term appeared in local newspapers, referring by now to anything that came as a gift from the government. Within a year, it had spread around the country...

Author: /time Magazine | Title: Uncle Sam | 11/4/2008 | See Source »

...touched off when the death of more than 100 Panamanians was traced back to cough medicine tainted with dietheylene glycol from China. Then hundreds of pets in North America were killed by eating food made from Chinese raw ingredients, also tainted with melamine. As last year's scandal spread, problems were found with Chinese-produced toys, tires, seafood and toothpaste. Even as the Beijing took extreme steps to solve the problem, such as executing Zheng Xiaoyu, the former head of the State Food and Drug Administration, for accepting $850,000 in bribes from drug companies, it aggressively pushed back against...

Author: /time Magazine | Title: China's Melamine Woes Likely to Get Worse | 11/4/2008 | See Source »

...even more fascinating to read a book written just before the onset of a worldwide financial crisis. "The effects of a strong market have spread well beyond collectors' complaints of skyrocketed prices and the dramatic expansion of many galleries' square footage," Thornton writes. "The wealth trickles down. More artists are making a better living; a few are as rich as pop stars. Critics are busy churning out words to fill expanded editorial pages." In a few years time, Seven Days may come to be seen as one of the first chronicles of a now-bygone...

Author: /time Magazine | Title: The Art World, Demystified | 11/3/2008 | See Source »

...Goma, the eastern city that is home to countless aid groups and hundreds of thousands of refugees, stood open for the taking. U.N. peacekeepers were reportedly holed up and surrounded at one base 55 miles north of Goma, rationing food and running out of water. But as rumors spread that Goma's fall was imminent, Nkunda declared a cease-fire and halted his advance. By the end of the week, the havoc wreaked in Goma had been caused chiefly by Congolese government soldiers, who stole cars, looted businesses and raped women across the city. The U.N. multinational force, "is stretched...

Author: /time Magazine | Title: Congo Quagmire Finally Grabs the World's Attention | 11/1/2008 | See Source »

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