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...rethinking this 20-year-old arms ban. Spain, which holds the E.U.'s rotating presidency until July 1, has called for a review of the embargo as a way of improving relations with Beijing. "We are all aware of the new role which China is assuming in the world," said Spanish Foreign Minister Miguel Angel Moratinos. This is great news for China, especially given its fury over the recent decision by the U.S. to sell $6.4 billion worth of arms to Taiwan, which China regards as a renegade province. (See a brief history of U.S. Presidents in China...

Author: /time Magazine | Title: Should Europe Lift Its Arms Embargo on China? | 2/10/2010 | See Source »

China says the lifting of the embargo is more symbolic than anything else - it would signal a European acceptance of the country's status as an equal player on the world stage. The weapons ban has certainly not prevented China from becoming a military power - its annual defense budget officially stands at $70 billion, although the Pentagon believes the real figure to be twice as high. Rather, Beijing sees the embargo as outdated and insulting, considering the other nations currently subject to an E.U. arms ban are all pariah states - Congo, North Korea, Iran, Burma, Somalia, Sudan and Zimbabwe...

Author: /time Magazine | Title: Should Europe Lift Its Arms Embargo on China? | 2/10/2010 | See Source »

...five days broadcast live nationally, Toyoda said yesterday that the corporation, a source of Japanese national pride which has gone unfathomably awry over the last several weeks, is recalling 437,000 2010 Prius and other hybrid models (plug-in Priuses, Lexus HS250h sedan and the SAI) around the world because of a computer glitch in the braking system. Over 220,000 of the cars will be recalled in Japan. (See the 50 worst cars of all time...

Author: /time Magazine | Title: In Tokyo, Embattled Toyota Chief Faces a Nation | 2/10/2010 | See Source »

...insisted that he made the second public appearance not because he has come under fire, but because it was his "own way of improving the situation" - delivered the bad news at the Ministry of Land, Infrastructure, Transport and Tourism, where minister Seiji Maehara also learned the chief of the world's largest automobile maker is headed to the U.S. on an apology tour. Maehara has condemned Toyota for being insensitive and slow in responding to domestic consumer complaints - the first report of the brake problems in Japan goes back to July, and 84 had been filed...

Author: /time Magazine | Title: In Tokyo, Embattled Toyota Chief Faces a Nation | 2/10/2010 | See Source »

Both Iranians and the outside world will be watching how events unfold on Thursday to see just how much life remains in the opposition movement months after the government began cracking down on public displays of dissent. Knowing this, the Iranian government has spent weeks trying to prevent a large opposition turnout. Internet and text-messaging services have ground to a virtual halt, which the government has explained by citing technical difficulties but which opposition supporters say is timed to prevent them from organizing other supporters. At least 1,000 people have been arrested in the past two months, according...

Author: /time Magazine | Title: Iran's Anniversary: The Opposition Tries to Thwart a Crackdown | 2/10/2010 | See Source »

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