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...investment capital into the country, generating factory jobs for impoverished farmers, infrastructure to supercharge commercial development, and otherwise produced wealth South Korea could never have generated on its own. Eager to raise living standards in their own countries, Asian policymakers and businessmen to varying degrees adopted the same fast-track formula. The economies of South Korea, Taiwan, Hong Kong and Singapore did so with such success they became known as the Asian tigers. Their growth model produced miracles - and as Park said in a 1965 speech, exports were "the economic lifeline...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...federal government has a small operation called the Office of Thrift Supervision, which, among other things, keeps track of mortgage defaults. It defies common sense, but the agency says that many people who have mortgages re-worked to their financial advantage often default on their obligation anyway...

Author: /time Magazine | Title: When Mortgage Assistance Does Not Work | 2/25/2009 | See Source »

...argued in a recent report that the government's new plan doesn't ensure that Denmark will meet its Kyoto targets by 2012. (Denmark has to reduce CO2 emissions to 21% below 1990 levels, one of the most aggressive targets in the world.) The government says Denmark remains on track - and they'll need to be, as the host of the climate summit. "We'll be ready for Copenhagen," says Connie Hedegaard, Denmark's minister for climate and energy, who will host the meeting...

Author: /time Magazine | Title: Denmark's Wind of Change | 2/25/2009 | See Source »

...Obama's agenda to get the U.S. back on track...

Author: /time Magazine | Title: Obama Gives Team America a Pep Talk | 2/25/2009 | See Source »

...Given Berlin's track record of leftist violence, which still erupts each year during the traditional May Day demonstrations by left-wing groups, it is unlikely that the conflict over the remaining affordable living space in Eastern Berlin will be settled anytime soon. Stefanel-Stoffel, for her part, is not planning to give up. "I'll also recommend to my friends to invest in Berlin," she says. "The prices you get here won't stay for long." And Technau and his friends aren't going to back down either: "We'll continue to speak up, until something will change." Seems...

Author: /time Magazine | Title: In Berlin, a Gentrifying Neighborhood Under Siege | 2/25/2009 | See Source »

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