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...years ago, the Chinese called it their "Going Out" strategy. State-owned companies in key industries were being encouraged by the government to plant the flag of Chinese capitalism around the world by purchasing stakes in foreign companies. China was booming, flush with cash and full of optimism - naive optimism, it turned out. In 2005, China National Offshore Oil Corp., China's oil and gas giant, tried to buy Unocal, the American oil company, and learned just how xenophobic Washington could be: the deal was called off after strident objections from congressional leaders. Two years later, Beijing's fledgling sovereign...

Author: /time Magazine | Title: Buying Binge | 3/5/2009 | See Source »

...This rankles some of Rio's shareholders. One institutional investor told TIME that it's "up to Rio to convince us that this does not transfer key pricing power over a key commodity to a big customer. They need to make that case, or I'm not inclined to vote for the deal" when it comes up for approval in May or June. The investment also must be cleared by the Australian Foreign Investment Review Board...

Author: /time Magazine | Title: Buying Binge | 3/5/2009 | See Source »

...President Barack Obama - a fellow moderate liberal who shares Lula's passion for green-energy ventures - in the White House. He will be the first Latin American leader to meet Obama since he took office, a sign, perhaps, that the new U.S. Administration sees Brazil as a key partner in forging a new policy for the Americas...

Author: /time Magazine | Title: The One Country That Might Avoid Recession Is... | 3/5/2009 | See Source »

...general hours before. The speaker of parliament, Raimundo Pereira, was sworn in as the state's interim President and is required to call elections within 60 days. Since winning independence from Portugal in 1974, Guinea-Bissau has been racked by poverty and upheaval, becoming in recent years a key transit point for cartels smuggling drugs from South America to Europe...

Author: /time Magazine | Title: The World | 3/5/2009 | See Source »

...Washington A Budget for Change Spending plans in the $3.6 trillion 2010 budget President Obama sent to Congress signal fundamental priority shifts in several key government departments. Some of the biggest new proposals...

Author: /time Magazine | Title: The World | 3/5/2009 | See Source »

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