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...Chinese have been moved out of formerly state-owned housing units in urban areas as part of redevelopment projects. The compensation payments, supplemented by some savings, are usually enough to buy decent apartments out of town. Economist Xie calls these resettlement payments "probably the most important government action supporting today's economy." And the fact is, Chinese municipalities are not even close to the end of such resettlement schemes. (See pictures of Beijing's changing skyline...

Author: /time Magazine | Title: China's Property: Bubble, Bubble, Toil and Trouble | 3/22/2010 | See Source »

After the waterway was carved out of wetlands in the 1860s, oil refineries, tanneries and chemical plants moved in and spewed noxious waste into the canal, where it mixed with raw sewage. Before long, Gowanus was a cesspool. Today the surface can appear brown, green, black and sometimes purple, earning the canal the moniker Lavender Lake. Neighborhood residents whisper that the bottom is littered with bodies dumped there by the Mafia. (See pictures of New York City...

Author: /time Magazine | Title: Postcard from Brooklyn | 3/22/2010 | See Source »

...political classes after being chivied into the Iraq war on the basis of false intelligence and then lost any residual respect for Westminster amid revelations that some MPs subsidized their lavish lifestyles with taxpayers' money, Foot symbolized a more honorable age. "How politics could do with his integrity today," wrote the Labour MP Diane Abbott in a tribute to her onetime leader...

Author: /time Magazine | Title: Michael Foot | 3/22/2010 | See Source »

...Farmers today are even happier, since they now ride the most sophisticated stuff ever made. "Onboard GPS, leather seats, CD players - farmers fall in love when they walk into a Deere showroom," Rentschler says. "It's hard to resist buying the green...

Author: /time Magazine | Title: Deere's Harvest | 3/22/2010 | See Source »

Sources: AP; CNN; Calgary Herald; USA Today; AP; Twitter; Fox News...

Author: /time Magazine | Title: Verbatim | 3/22/2010 | See Source »

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