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...vulnerable to a synchronized global slowdown. Among the tigers, overseas trade is shrinking with frightening speed: Taiwan's exports in January plunged 44% from the same month a year earlier, while Singapore's fell 35% and South Korea's 33%. Overall economic growth is following suit. In the fourth quarter of 2008, Taiwan's GDP contracted 8.4% from the same period a year earlier, the worst quarter on record. South Korea's GDP shrunk 3.4% in the fourth quarter, Singapore's fell 3.7% and Hong Kong's dipped 2.5%. Eric Fishwick, head of economic research at brokerage CLSA in Hong...

Author: /time Magazine | Title: Losing Traction | 2/26/2009 | See Source »

...Internet video affording a wider menu of viewing options and the dismal economy forcing people to hunker down at home, Americans are watching more television than ever before. According to a Nielsen report, the average citizen tuned in to 151 hours of TV per month during the fourth quarter of 2008, up from 145 the previous year...

Author: /time Magazine | Title: The World | 2/26/2009 | See Source »

...National Intelligence, Admiral Dennis Blair, told a Senate hearing that the global economic crisis had replaced terrorism as the "primary near-term security concern" for the U.S. Blair's office has produced a report saying that economic crises had already led to some degree of political instability in a quarter of the world's nations. (See pictures of the global financial crisis...

Author: /time Magazine | Title: Obama's New Daily Briefing: Economic Intel | 2/25/2009 | See Source »

...setting, for starters, was no high school locker room at halftime, with sweaty teenagers scratching their gym socks. Robed Supreme Court Justices and barrel-chested generals sat in the front row at the U.S. House Chamber, a gold-encrusted place overflowing with political power. For a quarter-mile around, police stood shivering in the cold, watchful in clumps on street corners, stopping anyone who looked out of place. (Read the full text of Obama's speech...

Author: /time Magazine | Title: Obama Gives Team America a Pep Talk | 2/25/2009 | See Source »

...were to be displaced by the factory was resolved when Tata decided to build the plant in the state of Gujurat instead. But the launch of the Nano, originally set for October 2008, had to be pushed back. The company now says the car will debut in the first quarter of this year...

Author: /time Magazine | Title: India's Top Automaker, Tata Motors, Hits a Rough Patch | 2/24/2009 | See Source »

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