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...level of production that could erase chronic fuel shortages in the country and rake in windfall profits to be had on the world market. The Iraqi government and more than two dozen oil companies are in the midst of drafting plans to begin the work. But the chances of success anytime soon are far from certain. Political pitfalls in Baghdad and ground realities in areas where resources rest could undo the long-awaited bonanza before it begins...

Author: /time Magazine | Title: Why Iraq Is Still Oil Poor | 8/15/2008 | See Source »

...world is buying in. Take the success of the whimsically named Super Potato, an interior-design firm founded by Takashi Sugimoto. His designs have been commissioned in more than 20 countries, most notably in the high-end Grand Hyatt and Shangri-La hotel chains. Sugimoto was tired of the proliferation of stale Japanese icons overseas, the lackluster sushi bars or suburban karate studios. He decided, instead, to export a whole new aesthetic that plays with the collision of natural materials, such as bamboo and stone, with industrial matter such as scrap metal or junkyard finds. The result is a celebration...

Author: /time Magazine | Title: Japan's New Groove | 8/14/2008 | See Source »

...feat marked the return of a once-fearsome Chinese women's swimming squad. In 1994, a fleet of well-muscled Chinese dominated the pool at the Asian Games. But the secret to China's success was soon exposed: drugs. Seven of China's Asian Games swimmers tested positive for banned substances and were stripped of their gold medals. That ignominious streak extended to the 1998 World Championships, where four more Chinese swimmers were caught using drugs...

Author: /time Magazine | Title: Redemption for Chinese Swim Team | 8/14/2008 | See Source »

...grows at only 7% or 8%, it will be doing far better than the U.S. and most of Europe. The Indian multinationals that have grown out of the 10-year boom look as strong as ever, with outsourcing giants like Infosys and Tata Consulting Services growing very robustly. Their success has created a huge middle class for which 12% inflation is more of a nuisance than a worry. The long-term future of the Indian middle class is secure. The factors that have driven its success - a sure grasp of English, a facility with technology, a talent for innovation - will...

Author: /time Magazine | Title: The Burden of Inflation | 8/13/2008 | See Source »

...strength - a psychological superman cape. Even though I swim competitively, at first I didn't understand all of the hoopla surrounding the swimsuit controversies at the Games. Swimmers have been demanding the $550 Speedo suit, even to the point of breaking their contracts with TYR, which had great success in the Athens Olympics...

Author: /time Magazine | Title: High-Tech Swimsuits: Winning Medals Too | 8/13/2008 | See Source »

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