What the World is reading

In a special report on Iran (“The Revolution strikes back”), the July 21 issue of THE ECONOMIST widens the canvas to ask once again a familiar question: how should the West deal with the nuclear challenge posed by Tehran? Time is short. Some American experts say Iran could have a bomb by the end of 2009. Even the more modest estimate put out by IAEA Director-General Mohammed ElBaradei gives it one between three and eight years from now. The main leader (‘The riddle of Iran’) notes that fears of an American invasion are not that far-fetched. “After the false intelligence that led America into Iraq, and the mayhem that followed, it may seem hard to believe that America or Israel are pondering an attack on a much bigger Muslim country. But they are—This time, after all, there is no question of false intelligence—Nor would there be another invasion: this would be an attack from the air, aimed at disabling or destroying Iran’s nuclear sites.” This, continues the leader, could cause considerably more problems than it would solve. Is there instead a more peaceful way? Yes, smart sanctions and credible promise of an historic grand reconciliation with the US.

TIME’s cover story (“Iraq: what will happen with the US leaves”, July 30) demands yet more diplomatic maturity from the superpower in preparing for troop reduction in Iraq. “With the US drawing down, Iraq would diminish as a focal point of anti-Americanism. With most US troops exiting the region, Washington would have more leverage with Iran, which has continued its march toward nuclear weapons while the US has been bogged down in Iraq. And most important of all, the US would regain the military, economic and intellectual bandwidth it once employed to advance its interests elsewhere and start rebuilding its reputation overseas.” This, however, writes Michael Duffy, would demand of Washington diplomatic effort of an order it has not show itself to be willing to sustain in recent years.

“Mia Farrow spoke out about Darfur in Second Life, while Duran Duran and Suzanne Vega have performed live there, streaming concerts all over the world,” informs NEWSWEEK (“Reality Bites”, July 30). “Barack Obama’s avatar even had a ‘living room’ discussion with supporters back in March.” There are already eight million users for Second Life, and the cover story explains the dimensions of life in this virtual world which its creators may not even have imagined – including the networking and economic transactions that have got income tax and law enforcement authorities interested.

Meanwhile: BUSINESSWEEK (July 30) reports on Wall Street’s increased interest in “death bonds” (aka life settlement-backed security): “Life settlements are arrangements that offer people the chance to sell their policies to investors, who keep paying the premiums until the sellers die and then collect the payout. For the investors it’s a ghoulish actuarial gamble: the quicker the death, the more profit is reaped.” In THE NEW YORKER (July 23) James Surowiecki investigates the dilemma before car manufacturers in designing more fuel efficient vehicles. NATIONAL GEOGRAPHIC (August) has a spectacular feature on the rise and fall of the Mayan civilisation.