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...possibly support in a cyclical downturn. A shakeout is unavoidable, and it is being made worse by the worldwide credit crunch. Nervous banks, Lau says, have reduced the credit lines of many small manufacturers by up to 50%, starving them of operating funds. Letters of credit, which facilitate the shipment of exports, were once automatically accepted by banks in Hong Kong, but now they are being held until bankers are sure funds are coming from overseas, so payments to manufacturers for their products are being delayed. As a result, Lau says he expects that 20% of China's Hong Kong...

Author: /time Magazine | Title: How Will China Weather the Financial Storm? | 10/23/2008 | See Source »

...million light weapons from Soviet stockpiles, and has modernized tanks, anti-aircraft missiles and other weaponry, says Hugh Griffiths, an expert on illicit weapons at the Stockholm International Peace Research Institute. A dramatic example of Ukraine's reach is playing out off the Horn of Africa, where a major shipment of Ukrainian weapons, including 33 T-72 tanks, was hijacked by Somali pirates and remains a vexing military and diplomatic problem...

Author: /time Magazine | Title: The Arms Trade Booms Amid Global Economic Woes | 10/14/2008 | See Source »

...Diplomats in Nairobi, speaking on condition of anonymity, made clear that they shared the suspicion that the tanks were destined for south Sudan, where Kenya has supported a secessionist resistance movement oppossed to the northern Sudanese-dominated government in Khartoum. The fact that such a shipment might contravene international arms embargoes might help explain why the Faina, traveling with minimal security on board, presented itself as an unremarkable cargo freighter - to fool officials along its route as well as pirates. Of more concern to East Africa's regional security, recent reports from north and south Sudan have suggested both sides...

Author: /time Magazine | Title: Arrr! The Somali Pirates and Their Troublesome Treasure | 10/3/2008 | See Source »

Barnes & Noble owners around the country must be suffering from sensory overload. Each week, they open a new shipment to find political hardbacks positively yelling at them. “If Democrats Had Any Brains, They’d Be Republicans.” “The Prosecution of George W. Bush for Murder.” And more recently, “Right is Wrong: How the Lunatic Fringe Hijacked America, Shredded the Constitution, and Made Us All Less Safe,” by Huffington Post editor Arianna Huffington.It’s a form of political intellectual...

Author: By Nicholas K. Tabor, CRIMSON STAFF WRITER | Title: Huffington Just Doesn't Get It Right | 9/25/2008 | See Source »

...cash that was seized at the Buenos Aires airport in the summer of 2007, allegedly being delivered on behalf of Chávez as a presidential campaign contribution to Cristina Fernández de Kirchner, now Argentina's President. Chávez vehemently denies involvement in the money's shipment or in the alleged attempts by Venezuelan agents to cover it up and intimidate the U.S.-Venezuelan businessman caught transporting the suitcase...

Author: /time Magazine | Title: Behind Chavez's Anti-US Rant | 9/12/2008 | See Source »

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