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...economic challenges. That perception, however, is based on the incorrect notion that Asia's success is the product of intrusive governments. In the 1980s, when Japan was Asia's rising giant, some said its state-led economic system, in which bureaucrats "picked winners" by targeting industries for special support, was better than the more laissez-faire practices of the West. Today, pundits see China's "state capitalism" as the contender for global dominance. The heavier hand of the Chinese government, this thinking goes, acts as a source of strength in hard times while firmly guiding the nation into the industries...

Author: /time Magazine | Title: What Asia Can Really Teach America | 2/4/2010 | See Source »

...Yanukovych, who won 35% of the vote in the first round, leading Tymoshenko by 10 percentage points. Yanukovych is a rags-to-riches figure - he was jailed twice in his youth for assault and robbery - who relies on the pro-Russian east and south of the country for support. His strategy this time round has been simple: remind voters of the mess the country is in and point the finger at his opponents. "Precisely while the orange government has been running the country, Ukraine gained one of the leading places in the world in terms of corruption," he told TIME...

Author: /time Magazine | Title: In Ukraine, the Death of the Orange Revolution | 2/3/2010 | See Source »

Russia has been the regional master for centuries and there are few signs that it is ready to stop interfering. After unsuccessfully backing Yanukovych in the 2004 election, the Kremlin repeatedly slammed Yushchenko for his attempts to join NATO and his support of Georgia during its 2008 war with Russia. Twice Moscow has turned off the gas to Ukraine amid payment disputes, as it repeatedly tried to throw a wrench in Ukraine's Western integration...

Author: /time Magazine | Title: In Ukraine, the Death of the Orange Revolution | 2/3/2010 | See Source »

Both Tymoshenko and Yanukovych have promised to repair relations with Moscow, but that won't necessarily signal a return to the Kremlin's fold. Tymoshenko, whose support base is in the pro-European west, has pledged to steer Ukraine into the European Union within five years, while Yanukovych has recast himself as a moderate who also wants to forge closer ties with the E.U. Tymoshenko has presented a clearer agenda toward a European future and says Yanukovych will take the country back to the "Stone Age," but critics question whether she can push through unpopular but sorely needed reforms...

Author: /time Magazine | Title: In Ukraine, the Death of the Orange Revolution | 2/3/2010 | See Source »

Read more in the new TIME book Earthquake Haiti: Tragedy and Hope and support TIME?s Haiti relief efforts...

Author: /time Magazine | Title: A Brief History of Baby-Lifts | 2/3/2010 | See Source »

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