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...toxic assets off banks' balance sheets and inject companies with new capital, governmental intervention in the credit crisis has continued and even grown as other countries step up their own efforts to guarantee bank accounts and bolster financial firms. In a coordinated swoop, governments around the world cut interest rates; two days ago, in the U.S., the Fed took the unprecedented step of saying it would start buying commercial paper, short-term corporate IOUs, in yet another attempt to thaw frozen credit markets...

Author: /time Magazine | Title: A Market Meltdown That Won't Stop: Is This Rational? | 10/9/2008 | See Source »

International interest in China's contemporary visual arts has hit exuberant heights, which makes the relative international ignorance of contemporary Chinese literature more conspicuous. Contemporary Chinese writing remains woefully undertranslated in English. Expectations for a translation boom, created when émigré Chinese writer Gao Xingjian won the Nobel Prize for Literature in 2000, remain unfulfilled. So what is an ambitious Chinese writer who desires to reach an international audience to do? The 35-year-old Xiaolu Guo has taken matters into her own hands by writing in English. As a novelist who is equally at home as a filmmaker...

Author: /time Magazine | Title: Capital Letters | 10/9/2008 | See Source »

...government should provide the $700 billion as loans to companies that want it - which would have to be repaid with interest to the Treasury. To qualify for such a loan, the receiving company should be barred from granting executive bonuses or paying dividends to investors until the loan (and interest) is repaid. This would infuse the needed money into the system and free up credit markets. But in the long run, it would cost taxpayers nothing. Robert P. Hebbel, North Oaks, Minnesota...

Author: /time Magazine | Title: Inbox | 10/9/2008 | See Source »

...early entrant, Chindex was able to negotiate a 90% ownership interest in its Beijing hospital. In 2000, China officially permitted foreign companies to pursue hospital and clinic joint ventures but limited ownership to 70%. Sino-U.S. joint ventures share the marketplace with players such as Singapore-based Parkway Group Healthcare and Hong Kong--based Global HealthCare...

Author: /time Magazine | Title: China's Medical Boom | 10/9/2008 | See Source »

Another nod to antique and modern movie tradition is The Girl: the lovely flower in an arid ethical landscape who wins the hero's heart and puts him in jeopardy. Here Ferris falls for a Jordanian nurse, Aisha (Golshifteh Farahani). In a movie like this, a love interest has two functions: eye candy for contrast and sympathy, hostage bait for the plot. (Yes, Mr. Ferris, you may kill many and risk your own life for your mission. But what if I told you we were going to, heh heh, rough up your girlfriend...

Author: /time Magazine | Title: Body of Lies: Leonardo of Arabia | 10/9/2008 | See Source »

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