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...boom, it turns out, was built on expensive oil, and precious little else. Economic growth, which averaged more than 7% for the past five years, has tumbled and may drop below 2% next year. And for the first time since the collapse of the Soviet Union in 1991, the threat of large-scale unemployment looms. "Money was falling from the sky in the past two to three years," says Maxim Oreshkin, the head of research at private-sector Rosbank in Moscow. "Now it's stopped falling...

Author: /time Magazine | Title: Russia's Big Chill | 12/11/2008 | See Source »

...drawdown is unlikely as long as India believes that Pakistan-based militant groups like Lashkar-e-Taiba remain a security threat--and the Mumbai attacks serve as proof that they are. "It's like a disease in the body," says Sudhir Bloeria, a senior adviser to the governor of the Indian portion of Kashmir. "You have to be vigilant even after the symptoms have disappeared...

Author: /time Magazine | Title: Can India and Pakistan Lower Tensions Over Kashmir? | 12/11/2008 | See Source »

Given that another flu outbreak among humans in densely populated Hong Kong could quickly turn into an epidemic, many health experts suggest that it is well past time to update the vaccine to meet the evolving threat. "When the time arrives that the old vaccine no longer works, I believe we should have another to put in its place," Dr. Lo says. "Apparently...

Author: /time Magazine | Title: Is Hong Kong's Bird Flu Vaccine Failing? | 12/10/2008 | See Source »

...Given the heightened threat perception over the last three to four years, there has to be a system of tagging to let the local police know which threats to take seriously," John says. He adds that the system needs a federal mechanism to follow up on what action is taken on intelligence disseminated among the security agencies...

Author: /time Magazine | Title: Botched Mumbai Arrest Highlights India's Intel Failures | 12/10/2008 | See Source »

...Sahni warns that India's intelligence and security capability is woefully lacking in proportion to the scale of the threat it faces, and to its status as an emerging economic superpower that is under constant jihadist threat. "We cannot afford to be a tin-pot operation with no capacity to prevent and respond to terror, and bring terrorists to book," says Sahni. "That will not be the kind of country where people would like to invest." And the Mumbai massacre has provoked millions of Indians to demand that the government do a better job of protecting them. So, even...

Author: /time Magazine | Title: Botched Mumbai Arrest Highlights India's Intel Failures | 12/10/2008 | See Source »

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