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...Zardari, Bhutto's widower, who is co-chair of the party but does not hold government office. The government is an unwieldy coalition between bitter enemies: the PPP and the Pakistan Muslim League-N, led by former Prime Minister Nawaz Sharif; the two parties traded power three times in eight years before Musharraf put an end to their bickering by overthrowing Sharif in a 1999 coup. Their power-sharing agreement, formed out of a common desire to oust Musharraf, is now riven over how to accomplish that. Musharraf, meanwhile, has been reduced to a largely ceremonial role as President. Says...

Author: /time Magazine | Title: Dangerous Ground | 7/10/2008 | See Source »

...Economy, Stupid The economy needs attention, too. During Musharraf's eight-year tenure, first as General, then as President, foreign direct investment rose, the Karachi stock exchange outperformed regional neighbors and GDP grew on average 7% a year. The lifting of international economic sanctions, imposed in 1998 when Pakistan tested its first nuclear bomb, was partially responsible for the boost, but Musharraf also privatized key industries and opened up the banking sector. The rapid growth, however, exposed cracks in infrastructure that was failing to keep up. "The economy has been good for big business, good for the per capita averages...

Author: /time Magazine | Title: Dangerous Ground | 7/10/2008 | See Source »

...still interested in directing a musical? Bill Fisher, Seattle, Wa. I'm dying to. About eight years ago, I had a script called The Next Diamond. I tried to make it an action musical. It was a pretty good script, but it was hard to get financing, hard to make the studios believe that musicals still work, and hard to get stars, because we wanted a star who could sing, dance and shoot. I'm still working on it. If I can't make it in Hollywood, I will try to make it in China...

Author: /time Magazine | Title: John Woo will now take your questions | 7/10/2008 | See Source »

...drop could be closer to 25% by the end of 2010. Whatever the eventual decline, housing woes are already casting a chill on spending. For example, says Mehta, there has been "a dramatic fall" in sales of household goods such as dishwashers and refrigerators in the past six to eight months because people aren't moving as often. But real estate is an intensely local business, and in many markets it remains robust: for example, all of Germany, and the desirable parts of desirable cities like Paris and London. If enough places hold up and the declines elsewhere are short...

Author: /time Magazine | Title: Europe's Economy: Falling Down | 7/9/2008 | See Source »

...holding in your mind a very large, complicated structure of some kind. A complex set of moving parts." Likewise, he usability-tested his manuscript, debugging it by talking "some poor slob into reading it and telling me which parts worked and which didn't." Over a decade, he wrote eight drafts. Only then was it good enough, in his mind, to show an agent...

Author: /time Magazine | Title: A Software Dude Is a Best Seller | 7/8/2008 | See Source »

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