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August 09, 2010

Newsweek Says USA Holding On as China Rises Where is the Spin Piece on the Rise of New Media ?

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Newsweek coverage of how China is not displacing the USA

The coverage of China’s global inroads has been profoundly short on context, particularly when it comes to how China is—and is not—surpassing the U.S. as a global power. China’s trade with regions like Africa and Latin America is growing exponentially, it is still outpaced by America’s, which tends to be more diverse.

Disenchantment with the Middle Kingdom is particularly strong in Angola and Nigeria. Washington has been quietly capitalizing; according to the U.S. Department of Commerce, exports to Nigeria have risen 48 percent and imports (consisting predominantly of oil) by 16 percent this year alone. Washington has been quietly capitalizing; according to the U.S. Department of Commerce, exports to Nigeria have risen 48 percent and imports (consisting predominantly of oil) by 16 percent this year alone.

Perhaps Newsweek will have a similar piece about how the rise of the Internet and new media is good for Newsweek and other paper magazines.

Newsweek was sold to Sydney Harman for one dollar


Mr. Harman’s bid appealed to Mr. Graham and the Post Company because Mr. Harman has said he would retain a significant number of the magazine’s 325 employees. The financial details of the sale were not known, though one person with knowledge of Mr. Harman’s bid said last week that he would pay $1 in exchange for absorbing Newsweek’s considerable financial liabilities.


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