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...many Papua New Guineans, it's not surprising that their nation stands on the front lines of China's global campaign. Located on the eastern half of the world's second largest island, P.N.G. is the most linguistically diverse region of the world, with at least 800 distinct local languages spoken by just 6.5 million people. Yet despite the tribal diversity, the nation is unified in at least one aspect: suspicion of foreign exploitation of its plentiful resources, ranging from natural gas and timber to fisheries and gold. Tensions exploded in the 1990s on the P.N.G. island of Bougainville, where...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...Strange Bedfellows In Papua New Guinea, at least, normal citizens can express their reservations about Chinese investment. But in many of the countries where China has made its biggest business forays, such democratic dissent is squelched by repressive governments that are taking the lion's share of any investment profits. Still, tensions can bubble up in surprising ways. In July, an al-Qaeda wing in North Africa vowed to target Chinese immigrants living there as revenge for the recent ethnic strife in China's largely Muslim Xinjiang region. The next month, riots against Chinese traders broke out in the Algerian...

Author: /time Magazine | Title: The World of China Inc. | 12/7/2009 | See Source »

...India that it has lost ground to China in the new Administration's Asia policy. Many in New Delhi saw Obama's performance in China as acquiescent toward an emboldened Beijing. And they see India having a diminished role in the strategic calculations of Obama's White House, at least in comparison to the centrality it enjoyed during George W. Bush's eight years in office. (See pictures of Obama's first state dinner...

Author: /time Magazine | Title: Ties That Bind | 12/7/2009 | See Source »

...propaganda apparatus erected by TIME to support Clinton reveals itself once again in Joe Klein's "intimate portrait" - yet another example of how TIME serves as her permanent, adoring advocate. Come on, TIME: printing PAID POLITICAL ADVERTISEMENT on each page is the least you can do. John Fitzpatrick Livonia, Mich...

Author: /time Magazine | Title: Inbox | 12/7/2009 | See Source »

...just the fortunes of one war-torn country are at stake. Researchers believe that Iraq's untapped oil reserves total at least 115 billion barrels - the third largest in the world. When fully developed, Iraq's oil industry could significantly boost global crude supplies and even bring down oil prices. Tapping Iraq's oil is an industry event of historic proportions, says Alex Munton, a Middle East analyst at global energy consultancy Wood Mackenzie. "There are very few examples in history you can point to and say, 'A similar thing happened there,' because there really have not been...

Author: /time Magazine | Title: Pump It Up: The Development of Iraq's Oil Reserves | 12/7/2009 | See Source »

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