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...open its financial markets, but obstacles remain. Because China's currency, the yuan, is nonconvertible, capital can't flow freely between Hong Kong and the mainland. And Chinese officials recognize that a flood of mainland money could disrupt Hong Kong's markets. Last year, Chinese authorities cracked down on underground Shenzhen traders funneling yuan illegally into Hong Kong. Aware that speculative investment could destabilize Hong Kong, Chinese financial officials also appear to have indefinitely delayed the "through train," the program that would allow individual Chinese to invest in the Hong Kong stock market...

Author: /time Magazine | Title: Beijing's Brokers | 1/17/2008 | See Source »

...tolerated so long as it didn't interfere with the Confucian duty to raise a family. Although an imperial decree was issued (likely under the influence of Christian missionaries) banning homosexuality in 1740, it was not until the advent of the communists that gays and lesbians were driven underground. The communist government once viewed gays as disruptive to social order and strictly enforced laws against homosexuality, imprisoning and even executing those convicted. But as China's economy opened to the world, the authorities' stance softened. A law banning sodomy was dropped in 1997, and in 2001 homosexuality was removed from...

Author: /time Magazine | Title: Postcard: Beijing | 1/17/2008 | See Source »

...practice tolerated so long as it didn't interfere with the Confucian duty to raise a family. Although an imperial decree was issued (likely under the influence of Christian missionaries) banning homosexuality in 1740, it was not until the advent of the Communists that gays and lesbians were driven underground. A law banning sodomy was dropped in 1997 and in 2001 homosexuality was removed from the country's official list of mental diseases...

Author: /time Magazine | Title: The Love That Dares to Speak Its Name — Discreetly | 1/13/2008 | See Source »

...every year," says Bernie, a forty-something who takes a longer perspective. "And every year more and more guys come out of the closet. In Beijing and the big cities, you can see couples walking round the shopping malls holding hands. In the smaller cities some people are still underground, but even there, I hear it's getting better all the time...

Author: /time Magazine | Title: The Love That Dares to Speak Its Name — Discreetly | 1/13/2008 | See Source »

...wouldn't have put money on it, but one of the sweetest sounds in underground music today pays homage to Indonesian film scores and pop acts of the 1960s. White Shoes & the Couples Company, a Jakarta-based six-piece, have parlayed not only a musical but sartorial fascination with their nation's pop culture into a sound and look that have seen them hailed as one of the most "crush worthy" bands of 2006 by influential music site allmusic.com, and "the most blog worthy band on the planet" by Ken Micallef, music critic at Yahoo! Music. Last year rollingstone.com named...

Author: /time Magazine | Title: The Mod Squad | 12/19/2007 | See Source »

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