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...Johnny Marr’s talent for writing classic pop songs and Morrissey’s extraordinary lyrics created a song-writing duo that could compete with the likes of Strummer/Jones and Jagger/Richards (if not quite Lennon/McCartney). The Smiths are the band that Damon Albarn and Noel Gallagher grew up listening to, and their influence can still be heard in the 21st century work of The Libertines and Arctic Monkeys. By involving Marr and Morrissey in the track selection and mastering, and striking the perfect balance between hits and rarities, “The Sound of the Smiths?...

Author: By Chris R. Kingston | Title: The Smiths | 11/21/2008 | See Source »

...temperature-controlled bubble of convenience stores and well-designed boutiques. Glen Fukushima, a former head of the American Chamber of Commerce in Japan, laments how, in international forums, Japanese tend to know a lot but are often unwilling to actually express themselves. Nevertheless, a sizable contingent of Japanese, who grew up in the era of globalization, see it as their homeland's responsibility to engage with - and help - the rest of the world. Peace Winds founder Onishi is just one of a growing group of Japanese who have founded their own international NGOs. Instead of being automatically vacuumed...

Author: /time Magazine | Title: Japan Reaches Out | 11/20/2008 | See Source »

...failure can drive it under. That's why Congress long ago created a separate regulatory system and reorganization process for banks, with the Fed and the fdic at the center. Over the past quarter-century, though, a "shadow banking system" of investment firms, hedge funds and derivatives dealers grew up that was subject to the same risks as banks but not the same rules. In September, Lehman Brothers, a major cog in this system, filed for Chapter 11. In one sense the process worked as designed--much of Lehman lives on under the names Barclays and Nomura. But the resulting...

Author: /time Magazine | Title: Don't Call It Bankruptcy | 11/20/2008 | See Source »

...Slowing consumer demand in America and Europe has cut output at Chinese factories - although China's exports grew at an annual rate of 19% in October, some economists believe that could fall below 10% by the end of the year because of lower Christmas-season orders for products like electronics. And China's notoriously thrifty consumers haven't made up for the drop in foreign demand. Amid the global turmoil, their expectations for rising incomes are at the lowest level recorded in years. All of that threatens to turn Dongxiaokou from the epicenter of a bustling recycling economy into...

Author: /time Magazine | Title: In China, Hard Times at the Scrap Heap | 11/20/2008 | See Source »

...however, this Chinese territory's economy - highly dependent on financial services and trade - is proving vulnerable to the global downturn. As Europe and the U.S. slump, so have merchandise exports from Hong Kong, which in the third quarter grew at their slowest pace in more than six years. Hit by higher costs, slowing orders and tightening credit, thousands of factories owned by Hong Kong firms are closing up in southern China's industrial heartland. This week, HSBC, the city's largest bank, said it would layoff about 450 people in Hong Kong due to deteriorating business conditions and a poor...

Author: /time Magazine | Title: Due to the Economy, Stress Boils Over in Hong Kong | 11/20/2008 | See Source »

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