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...trading partners like the U.S. "The huge elephant in the China shop is the slowing global economy," says Merrill Lynch Asia economist T.J. Bond, who cites an obvious reason: China's manufacturing sector, which accounts for 43% of China's GDP, depends heavily upon sales to the West. Some 40% of China's exports go to the U.S. and Europe, and with potentially deep recessions setting in there, economists are slashing the country's trade projections. Bond estimates that China's export growth rate will fall to 10% in 2009 from 21% this year. For the revved-up mainland, that...

Author: /time Magazine | Title: How Will China Weather the Financial Storm? | 10/23/2008 | See Source »

...Calderon, a single mother of two in Greenacres, Fla., who works for the Palm Beach County public defender's office. Two months ago, she lost a second, part-time job that had helped pay the bills. She soon surrendered to the gods of credit-card debt. She visited a West Palm Beach credit-counseling service to deal with some $20,000 in unpaid bills. "I wasn't ashamed," says Calderon. "I had to tighten up. It was a decision I had to make to take care of my two kids...

Author: /time Magazine | Title: Living in a World with Less Credit | 10/23/2008 | See Source »

...nation more and more evolved into biggest and finest in the world. Battered and impoverished London, humiliated Paris, shattered Berlin, discredited Rome - the old capitals towards which, before the war, Americans had so often looked with sensations of diffident inferiority now seemed flaccid beside this prodigy of the west...

Author: /time Magazine | Title: America: The Lost Leader | 10/23/2008 | See Source »

...production--which once accounted for 90% of government revenue--is on the decline. Inflation has rendered unsustainable the food and fuel subsidies on which millions of poor Syrians depend. Enter President Assad, who Syrians hope can help attract much needed foreign investment. Once persona non grata in the West, Assad is more secure than ever at home and abroad. The violence that followed U.S. regime change in Iraq has raised his profile in a region where stability is often valued over freedom. In August, French President Nicolas Sarkozy became the first Western leader to visit Damascus in five years...

Author: /time Magazine | Title: Postcard from Damascus | 10/23/2008 | See Source »

...Nevada, 911 registered voters and 700 likely voters were polled. In North Carolina, 940 registered voters and 644 likely voters were surveyed. Pollsters in Ohio spoke to 938 registered voters and 737 likely voters. In Virginia, 927 registered voters and 647 likely voters were polled. And in West Virginia, 893 registered and 674 likely voters were polled...

Author: /time Magazine | Title: Obama Holds Lead in Key States | 10/22/2008 | See Source »

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