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...correction: that growth in Asia isn't enough to protect its markets against the effects of a U.S. recession. So while shares in China soared last year, "the idea [it] can decouple and not be affected by what happened in their most important export market [the U.S.] was always rubbish," says Stein, so long as domestic consumption can't make up for any shortfall. And neither is Asia resistant to fallout from the subprime snafu either. Analysts speculated Monday that Chinese banks could soon cough up to huge losses linked to exposure to the U.S. mortgage market. The Bank...

Author: /time Magazine | Title: The Fed Reacts to a Global Crisis | 1/22/2008 | See Source »

...public notice. The media created a Hillary and Tenzing that really didn't exist. They made us into heroic figures, and it didn't really matter what we thought or said or did. The main thing was that as long as I didn't believe all this rubbish that was written, I would be okay. I never did believe it. And I think I've survived reasonably well. I never deny the fact that I think I did pretty well on Everest. On the other hand, never for a moment have I ever suggested that I was the heroic figure...

Author: /time Magazine | Title: An Interview with the Last Adventurer | 1/12/2008 | See Source »

...Bhutto gave up the finance portfolio she had held since retaking the government. "The debt servicing is breaking our backs - debt that I didn't incur," she told TIME. "But as Prime Minister, I have to pay it back." Rumors soon spread that her government would be dismissed. "Rubbish," she said. But that is exactly what happened. Soon, Nawaz Sharif was Prime Minister again...

Author: /time Magazine | Title: Benazir Bhutto (1953–2007) | 12/27/2007 | See Source »

...sympathy and privacy, saying that, despite what has been written in the media, "We are Jade's parents and we feel responsible for her well-being." Sympathy hasn't been forthcoming in the Netherlands, though; the paper accused the family of discarding the child like "a piece of household rubbish...

Author: /time Magazine | Title: Can an Adopted Child Be Returned? | 12/18/2007 | See Source »

...That's rubbish, says Atul Shah, a BJP member from the neighboring state of Maharashtra, who was in Surat to support his Gujarat colleagues in the days before the first round of voting on Tuesday Dec. 11. "Gujarat is a model state and Modi has proved himself 10 out of 10." Pravin Naik, head of the BJP's Surat branch, says the idea that Modi was part of communal tensions or violence is a "whole myth." "There has not been a single incident of communal violence since [the 2002 riots]," he says. "Narendra Modi is the only competent chief minister...

Author: /time Magazine | Title: India's Voters Torn Over Politician | 12/11/2007 | See Source »

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