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...party on avoiding the worst of the financial crisis. Yet, smug as he might have been, the reality is grim: According to the World Bank, in 2005 456 million Indians still lived in poverty. Mukherjee’s plans to combat this are well intentioned, but will only temporarily help to alleviate the plight of the poor. It will take the spread of private industry and finance to permanently raise their standard of living...

Author: By Ravi N. Mulani | Title: A Budget to Forget | 7/15/2009 | See Source »

...this makes me overwhelmingly sad. I love this country; I spent almost every summer, and many winter and spring breaks visiting my grandmother in Rome. Sitting at my kitchen table, overlooking the roofs of the city, I cannot help but think that it is the most beautiful place in the world. Yet, the current political trends here turn my stomach...

Author: By Sofia E. Groopman | Title: In Search of Italy’s Glory Days | 7/15/2009 | See Source »

...people building the F-22s need the jobs they generate. In the past week, three labor groups whose members help assemble the planes - the AFL-CIO, the International Association of Machinists and Aerospace Workers and the United Steelworkers - have urged lawmakers to keep them in production. With F-22 plants and suppliers spread across 44 states, there's a lot of support on Capitol Hill for keeping it in production. Senator Saxby Chambliss, the Georgia Republican who has thousands of constituents working on the planes at the Lockheed-Martin plant in Marietta, wants to keep those voters employed. He solicited...

Author: /time Magazine | Title: Dogfight Over the F-22: Protecting Jobs or the Nation? | 7/15/2009 | See Source »

...China will boast - it already boasts - a vibrant consuming economy of its own, one that will demand more and more of China's own goods. So will this be the ruin of China? Certainly not, but its growth will slow. And bringing more production to the U.S. can only help our own economy, lending it stability, bolstering the dollar and weaning down our debt...

Author: /time Magazine | Title: How the Coming Rise in Gas Prices Will Change the World | 7/15/2009 | See Source »

...business-to-business website Alibaba.com, which connects Chinese manufacturers with overseas customers. Last year the company's founder, Jack Ma, began to worry about the souring economy and its impact on Alibaba's 32 million members. "He told his lieutenants to all go out and figure out how to help our customers because there's a bad time coming," says John W. Spelich, Alibaba's vice president for international corporate affairs...

Author: /time Magazine | Title: In China's Lending Boom, Small Businesses Go Begging | 7/15/2009 | See Source »

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