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...influx of Chinese white-collar workers is forcing Japan to rethink its very national identity. Traditionally, the island nation has been inward-looking and xenophobic. Today, however, grappling with a labor shortage caused by decades of declining birth rates, Japan knows it must import workers if it is to remain the world's second-largest economy. And so the deluge of highly educated Chinese is challenging Japan to re-evaluate its attitude toward foreigners - particularly those who hail from what was once dismissed as a communist backwater but today is crucial to Japan's economic prospects. In 2004, trade between...

Author: /time Magazine | Title: Chasing the Japanese Dream | 12/6/2007 | See Source »

...year-old studying transportation and logistics at the University of Tokyo, one of Japan's premier colleges. "I plan to go back to China after graduation because the business opportunities there are very good," she says - though she admits that other Chinese friends have made similar vows, only to remain in Japan. While Le is here, however, she's on a mission to change her homeland's negative reputation. "Japanese have an image of China as still poor," she says, shaking her head. "But that's just not true anymore...

Author: /time Magazine | Title: Chasing the Japanese Dream | 12/6/2007 | See Source »

...governments becoming more adventurous in the way they invest their surplus wealth, investors ought to "rejoice at the impetus the SWFs will provide to continued growth in global asset markets," says Alex Patelis, head of international economics at Merrill Lynch. But countries on the receiving end of such largesse remain wary. At a G-7 meeting of finance ministers held in Washington in October, SWFs were a major topic of discussion, partly due to concern about their potential impact on markets. SWF "investment policies, minor comments or rumors could spark volatility," said Clay Lowery, assistant secretary for international affairs...

Author: /time Magazine | Title: The Wealth of Nations | 12/6/2007 | See Source »

...would-be investor dozens of possibilities, which range from the more predictable (Dongfang Electrical Machinery Co., a generator company) to the more exotic (Zhejiang GuYueLongShan Shaoxing Wine Co., a maker of traditional rice wine). Studying, says Rogers, will pay off: "If you do your homework, buy cheap and remain patient, you should be able to walk over and pick up that pile of cash in the corner that nobody else notices...

Author: /time Magazine | Title: Business Books | 12/6/2007 | See Source »

...increasingly secular, the faith needs someone who can defend its tenets in the argot of the day. Bell does this effortlessly. The question now is whether he can sell his approach to the rest of Evangelicalism or whether, as Christianity Today editor Andy Crouch puts it, he will "remain more of a singular rock star in the church world...

Author: /time Magazine | Title: The Hipper-Than-Thou Pastor | 12/6/2007 | See Source »

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