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...exports. Trade among Asian countries is also plummeting, because much of this intraregional commerce is indirectly dependent upon Western consumption. A high proportion of Taiwan's trade with China, for example, has been made up of electronic components shipped to Chinese factories for assembly into finished products - which eventually wound up on the shelves of stores in the U.S. As a result, Taiwan's China trade is contracting twice as fast as the island's U.S. exports...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...southeastern suburb of Vitry-sur-Seine and the City of Science and Industry on Paris' northern border with Aubervilliers are on the rise. St.-Denis, meanwhile, boasts popular tours of the architecturally stunning sports stadium Stade de France, which was built to host the 1998 World Cup but has wound up becoming a magnet for the area since then...

Author: /time Magazine | Title: Much Greater Paris | 2/26/2009 | See Source »

...started to point out items of interest to the gentleman next to me when we heard a terrible crash - a sound no one ever wants to hear while flying - and then the engines wound down to a screeching halt. Ten seconds later, there was a strong smell of jet fuel. I knew we would be landing and thought the pilot would take us down no doubt to Newark Airport. As we began to turn south I noticed the pilot lining up on the river, still - I thought - en route for Newark...

Author: /time Magazine | Title: From Park Avenue to the Hudson: A Flight 1549 Diary | 2/24/2009 | See Source »

...hospital as needed. As we pulled out of Weehawken my history kicked in and I recalled it was the site of the famous duel between Alexander Hamilton and Aaron Burr in 1804. Thankfully I left town in better condition than Mr. Hamilton, who died of a mortal wound the next day! I stayed with my sister on Long Island that evening, then flew home the next...

Author: /time Magazine | Title: From Park Avenue to the Hudson: A Flight 1549 Diary | 2/24/2009 | See Source »

Sometimes it's not just what is said that counts, but the way it is said. And if tone is anything to go by, the leaders of the European Union's largest economies are dead serious about cleaning up global finance markets. On Sunday, officials from eight E.U. countries wound up an economic summit in Berlin calling for tougher regulations on international financial markets-including secretive hedge funds and the tax havens they often rely on to do business. The question is: will the U.S., the biggest financial player in the world, ever agree to the binding international regulation...

Author: /time Magazine | Title: Europe Calls for Tougher Rules on Global Markets | 2/23/2009 | See Source »

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