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...after threatening to impeach Musharraf, the four-month-old coalition government was finalizing its "charge sheet" against the President, even as the last of the four provincial legislatures unanimously passed what is in effect a vote of no confidence against the President. The verdict of the legislators of the vast and restive Baluchistan province follows the resolution passed unanimously in Sindh and by over 90% of the votes cast in the other two provinces, Punjab and the North-West Frontier...

Author: /time Magazine | Title: Musharraf's Very Long Goodbye | 8/15/2008 | See Source »

...rising in the country and abroad as global prices soar. (At the same time, current oil revenues account for 90% of the government's substantial budget surplus of roughly $50 billion, unspent because of an inefficient infrastructure and bureaucracy.) Much of Iraq starves for electricity and fuel as vast amounts of oil and gas sit untapped in the ground. Iraq's oil industry needs a virtual overhaul to reach a level of production that could erase chronic fuel shortages in the country and rake in windfall profits to be had on the world market. The Iraqi government and more than...

Author: /time Magazine | Title: Why Iraq Is Still Oil Poor | 8/15/2008 | See Source »

...deals of its own that the central government in Baghdad considers illegal. Nevertheless, several smaller oil firms from Austria, Hungary, India, Canada and South Korea have signed deals with the Kurdish Regional Government. But most big players at present appear to be eyeing potential ventures in Iraq's vast oil territory around Basra instead. Years of neglect have left many oil fields there looking like junkyards. Rusting vehicles, heaps of trash and pools of spilled oil litter a hazy expanse dotted with plumes of flames from gas flares. "We need equipment; we need instruments; we need a lot of technical...

Author: /time Magazine | Title: Why Iraq Is Still Oil Poor | 8/15/2008 | See Source »

Such changes to farm management aren't likely to be cheap or easy to implement. But, as Diaz's study suggests, the consequences of inaction might prove infinitely more expensive. "The oceans are vast and they cover most of the Earth's surface," notes Howarth. "But what people mostly care about in the oceans is largely in these coastal areas. That's where the most productive fisheries are, and where people recreate. And that's where people are overfishing, and where dead zones are developing...

Author: /time Magazine | Title: Coastal Dead Zones Are Growing | 8/14/2008 | See Source »

...lacks the educational infrastructure to keep pace with the frantic demand for education," says Tang Min, chief China economist at the Asian Development Bank. A human-resources executive who helped produce a report on the subject for the American Chamber of Commerce in China puts it more bluntly: "the vast majority of [Chinese] kids go to second- or third-rate schools - diploma mills - and are just unprepared to enter a very competitive job market. They're getting ripped...

Author: /time Magazine | Title: Not-So-Great Expectations | 8/14/2008 | See Source »

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