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The question for China's leaders was never whether to modernize - but how. During the Maoist era a variety of economic models were experimented with, each of which achieving some modicum of growth. Yet all of them left China lagging far behind the West and East Asia. The costs of...

Author: /time Magazine | Title: China at 60: The Road to Prosperity | 9/28/2009 | See Source »

Chinese intellectual life has also improved, although over time this remains one of the real dark spots of Chinese communist rule. For six decades intellectuals have been persecuted, harassed and forced to conform and create within various boundaries set by the state. They continually probe the boundaries - until the state...

Author: /time Magazine | Title: China at 60: The Road to Prosperity | 9/28/2009 | See Source »

Edging Toward the Exit U.S. Treasury Secretary Tim Geithner this month announced that the U.S. is starting to phase out some of its emergency support for banks and financial markets. But he pointedly made no mention of a full-blown "exit strategy," saying that "we must continue reinforcing recovery until...

Author: /time Magazine | Title: Braking the Banks | 9/28/2009 | See Source »

Three Asian capitals - Bangkok, Jakarta and Dhaka - are currently fighting what feels like a rearguard action to keep the water at bay. Their efforts will be watched in other cities waking up to a climate nightmare after years of unplanned growth. The threat of sea-level rise and flooding makes...

Author: /time Magazine | Title: Treading Water | 9/28/2009 | See Source »

So what's the alternative? Go with the flow, suggests Habib. Don't erect futile barricades against the water; instead, control its path through the city. "You can't fight nature," he told me. "It fights back." Until the 1960s Dhaka had many lakes and waterways that stored and drained...

Author: /time Magazine | Title: Treading Water | 9/28/2009 | See Source »

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