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...unemployment-compensation system to better protect workers against sudden layoffs. Officially, China's unemployment rate is a relatively healthy 4.2%, but government statistics are dodgy, in part because significant numbers of China's millions of migrant workers go uncounted. The slowdown is a cause for national, not just provincial, concern. In early July, the country's state council huddled with top economic policymakers in an emergency session to discuss options for rekindling growth. Officials in Beijing "are very concerned, much more so than they were even just a month ago," says one government economic adviser who was briefed...

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

...China's job-market woes won't be solved by high economic growth alone. There are persistent problems within China's higher-education system that are of mounting concern. As children from the country's expanding middle class come of age, universities are being blitzed with new students. In fields such as engineering and economics, there simply aren't enough high-caliber teachers to go around. "China 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...

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

...premature to specify what precise measures the West should adopt. But Russia must be made to understand that it is in danger of becoming ostracized internationally. This should be a matter of considerable concern to Russia's new business élite, who are increasingly vulnerable to global financial pressure. Russia's powerful oligarchs have hundreds of billions of dollars in Western bank accounts. They would stand to lose a great deal in the event of a Cold War-style standoff that could conceivably result, at some stage, in the West's freezing of such holdings...

Author: /time Magazine | Title: Staring Down the Russians | 8/14/2008 | See Source »

...lives. "History is often made in remote and obscure places," McCain said. Even if you don't share McCain's bellicose ideas about Russia, there was something inspiring about his appeal to the conscience of the crowd, his insistence that the struggles of Georgians should be the concern of Americans. But the audience just listened quietly, offering only a few subdued golf-claps - until McCain mentioned Georgia's oil pipeline, and called the conflict a new reminder that it's time to do something about higher gas prices in America. Then the crowd erupted and gave McCain a standing ovation...

Author: /time Magazine | Title: Why Can't Candidates Be Celebrities? | 8/13/2008 | See Source »

...took more than four hours before the pack of eastern European presidents finally emerged from their negotiations to greet the crowd. They said they had watched the attacks of the past few days with a growing sense of anger and concern. "You have the right to freedom and indepedence," the Ukrainian head of state, Viktor Yuvshenko, declared . "Yours is the same story as Poland only the difference is that everybody is here, everybody is together," Polish President Lech Kaczynski concluded . "You are not alone!" Lithuania's President Valdas Adamkus said in English. "Let's stand together and victory will...

Author: /time Magazine | Title: On Scene: A Cry for Unity in Georgia | 8/13/2008 | See Source »

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