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...that pledged to improve relations between the countries and maintained that Taiwan was part of China, a diplomatic sticking point. At the close of the journey, Nixon crowed, "This was the week that changed the world." (See TIME's 1972 Cover Story "Richard Nixon's Long March to Shanghai...
...Getting the Small Things Right Sometimes in diplomacy, the small things matter the most. In early March, Secretary of State Hillary Clinton handed her Russian counterpart a "reset" button intended to symbolize the U.S. desire to "reset our relationship." Russian Foreign Minister Sergei Lavrov looked at the gift and smiled. "You got it wrong," he said in perfect English. On the button was "peregruzka," which means overcharge or overload. Oops. Just days earlier, British Prime Minister Gordon Brown had visited the White House bearing rarefied gifts: a first-edition biography of Winston Churchill and a penholder carved from the timbers...
...Little wonder. The ruble has lost 30% of its value against the dollar in the past six months, while economic activity decreased 7.3% in February compared with the same month last year, Deputy Economic Development Minister Andrei Klepach said on March 24. The government has said the economy is likely to shrink 2.2% this year. (See pictures of the Cold War's influence...
...seeing signs of de-premiumization - meaning that shoppers are trading down for cheaper items," says Victoria Grankina, a retail analyst at leading Russian investment bank Troika Dialog. "Overall, the luxury market really struggled in December and January, since the consumer was feeling quite under the weather. In March, we have been seeing some signs of stabilization, but we are not sure this is a trend. No one can predict when this will end." (See pictures of Paris couture...
People stood on higher ground, watching their houses collapse under the force of a wall of water that rushed through their crowded neighborhood in Jakarta. Five days later, as the death toll approached 100 after the bursting of a 75-year-old dam on March 27, rescue workers were still searching through the mud where dozens more bodies are feared to have been buried. And the blame game over who or what was responsible for the collapse continued...