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...added to the ceremony, this one holding a pool of oil. Around 2010, a cluster of offshore fields is expected to begin yielding significant amounts of oil and natural gas, radically changing the Cambodian economy. Optimistic estimates suggest that future oil revenue could dwarf the country's current GDP. But will any of this money trickle down to Cambodia's poor? Economists aren't sure, warning of a Nigerian-style oil curse that could simply make a privileged few very rich and leave the vast majority of people penniless...

Author: /time Magazine | Title: What the Cows Foretell | 5/31/2007 | See Source »

...time in two months, marking the first time in 17 years that the government had stacked rate increases on top of each other so quickly. Beijing also announced that banks would have to maintain higher reserves-an effort to curb bank lending that is fueling China's 10% annual GDP growth. "People don't think the train is off the tracks yet," the CASS economist told TIME, "but it's going about as fast...

Author: /time Magazine | Title: Manic Market | 5/24/2007 | See Source »

...attract high-income talent from overseas-and clean, crime-free streets. Singapore is regularly named in regional surveys as one of the best places in Asia for expats to live. Per capita income last year was $30,900, equal to that of Japan, and the economy is popping; GDP grew 7.9% last year...

Author: /time Magazine | Title: Singapore Soars | 5/24/2007 | See Source »

...whether an eighth tray should be added to the ceremony, this one holding a pool of oil. By 2010, a cluster of offshore fields should begin pumping oil and natural gas, radically changing the Cambodian economy. Optimistic estimates suggest that future oil revenue could dwarf the country's current GDP. But will any of this money trickle down to Cambodia's poor? Economists aren't sure, warning of a Nigerian-style oil curse that could simply make a privileged few very rich and leave the vast majority of people penniless...

Author: /time Magazine | Title: What the Cows Foretell | 5/22/2007 | See Source »

...moral qualm that America as a whole has failed to address properly. The government may justify its inaction since our citizens are privately some of the most charitable people in the world, but the government’s consistent failure to meet its agreement to donate 0.7 percent of GDP to foreign aid is despicable...

Author: By Jarret A. Zafran | Title: That Constant Gnawing Guilt | 5/11/2007 | See Source »

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