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...have over 50,000 branches between them - branches that in many cases function autonomously with respect to deposit-gathering and lending policies. Such a fragmented banking system has long been a major complication for China's central bank and its execution of a coherent monetary policy. Asia's rural-urban dichotomy also creates a natural fragmentation to its social and economic fabric - underscoring ever widening income and educational disparities that remain a major source of instability in the region. Widespread corruption further complicates the macro implementation of Asia's development imperatives. The more the region matures and makes further progress...

Author: /time Magazine | Title: The Evolution of Asia | 10/12/2009 | See Source »

...neither old nor a priest nor particularly attached to time-honored traditions. At 35, John Eriksen, one of the nation's youngest Catholic-school superintendents, offers a ruthless assessment of parochial education. "The biggest threat that urban Catholic schools face is nostalgia," he says both of districts nationwide and of his own diocese of Paterson, N.J. A Notre Dame and Harvard graduate fluent in Spanish and Arabic, Eriksen is part of the next generation of Catholic leaders in search of new ways to halt decades of student attrition. "We've been running these schools in a way that might have...

Author: /time Magazine | Title: Looking for Solutions to the Catholic-School Crisis | 10/12/2009 | See Source »

...Catholic schools in the U.S. has closed its doors this decade. To non-Catholics, this may not appear to be something worth worrying about. But parochial schools are one of the largest (if not the largest) alternatives to the American public-education system, and their steady decline inordinately affects urban low-income minorities who would otherwise be left at the mercy of public schools that have proven incapable of educating them. (See pictures of the Pope...

Author: /time Magazine | Title: Looking for Solutions to the Catholic-School Crisis | 10/12/2009 | See Source »

...horse, owned by a Hong Kong businessman, at next month's Breeders' Cup Classic in California? After Dancing Brave won the Arc in 1986, the English-trained horse's career ended on a disappointing note at the same U.S. track. Besides, Sea the Stars, foaled by American mare Urban Sea, herself an Arc winner in 1993, could be worth $160 million if he is retired to stud. (Read "Sports: Furlongs Behind...

Author: /time Magazine | Title: Is Sea the Stars the Best Racehorse of All Time? | 10/6/2009 | See Source »

HUPD reiterated in the advisory that Harvard is an urban campus, which deals with many of the same crime and safety issues found in other cities. The notice urged students, faculty, and staff to exercise caution when walking at night by remaining in well-lit areas and refraining from listening to music, talking on cellphones, or walking unnecessarily close to strangers...

Author: By Sarah J. Howland, CRIMSON STAFF WRITER | Title: Faculty Member Robbed at Gunpoint | 10/5/2009 | See Source »

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