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...That's why, for global companies like General Motors, China is no longer the future. It's the present. Of the world's 10 biggest economies, China's is the only one that is growing, and it could soon surpass Japan's to become the world's second largest. The Shanghai exchange has soared more than 80% this year, by far the best performance among major markets. Nations that depend on producing commodities, such as Australia and Brazil, have benefited immensely over the past six months as demand from China has driven up the price of raw materials. Helped...
...July 27, President Barack Obama appeared to acknowledge this when, addressing participants in high-level talks between the two countries, he said Washington's relationship with Beijing would "shape the 21st century." In recent months, Beijing has started to throw its weight around. China seeks - and will almost certainly soon get - greater voting rights in the IMF. In June, China agreed to buy up to $50 billion in bonds issued by the IMF to boost the fund's capacity to deal with the global financial crisis. Earlier this year, Chinese leaders, worried about the strength of the U.S. dollar...
...This will not be easy. Somehow, U.S. diplomats must help convince all three Asian nations that they can rise together, rather than descend into bitter rivalry. Japan will need special attention; its politics are becoming worryingly sclerotic, and it is beginning to feel overshadowed by China. Tokyo may soon need reassurance that Washington still takes the alliance seriously. But for all the difficulties ahead, the accompanying charts should give a glimmer of hope. The U.S. and the three Asian giants are becoming ever more closely interconnected - and not just economically. We have become familiar with the way in which trade...
Bratton's departure comes way too soon, however, to many of the city's civil rights advocates. Connie Rice, director of the Advancement Project in Los Angeles and a prominent civil rights activist and lawyer, fears that the LAPD will revert to some of its old brutal ways without his leadership. "We need two more years of this guy. Do I think that LAPD is going to go back to how they behaved in the Gates era?," says Rice, referring to former LAPD chief Daryl Gates, who was in charge during the Rodney King fiasco. "No. Are they beyond what...
...mood is once again pierced by the harsh reality of a life in Tehran. An 18-year-old skateboarder who voted for the first time this summer gathers his gear. He'll be moving out of the country this fall. "I'm glad I'll be leaving this place soon," he says. "It's gotten to be unbearable...