Spain's Dud. (Atlantic and Latin America editions). London Bureau Chief Stryker McGuire and Special Correspondent Mike Elkin report on the upcoming Spanish election and the issues candidates will have to address to win over the unhappy Spanish voters. The incumbent Prime Minister Jose Luis Rodriguez Zapatero, once considered a rising political star has lost much of his popularity. He has sunken into a welter of petty domestic disputes, fell off the global radar and, more importantly, turned off the electorate with a series of botched policy decisions. Now the combination of partisan squabbling and less decisiveness does not bode well for any prime minister facing the sort of issues that loom on Spain's horizon. Political gridlock in Madrid will make it tougher to deal with perennial issues like managing immigration and keeping a lid on regional disputes. But a bigger storm is brewing: Spain's economy is slowing. More significantly, inflation is rising and the spectacular housing bubble has burst.

http://www.newsweek.com/id/117805

(Photo: http://www.newscom.com/cgi-bin/prnh/20080302/NYSU001 )

COVER: Buddah Is Back. (Pacific edition). Tokyo Bureau Chief Christian Caryl reports on the resurgence of Buddhism in Asian countries and how many of its followers are playing an increasingly political -- and, in some spots, militant -- role. Although many members of Asia's quietest religion still practice nonviolence and antimaterialism, new organizations are wading into the rough-and-tumble of everyday politics, suggesting last year's monk-led protests in Burma weren't an anomaly. In Thailand, an ultraconservative Buddhist faction helped topple Prime Minister Thaksin Shinawatra in 2006. And in the most dramatic cases, some Buddhists have even begun advocating violence -- such as Sri Lanka's fiercely nationalist Jathika Hela Urumaya (JHU) party -- or have started picking up guns themselves, as in southern Thailand.

http://www.newsweek.com/id/117810

Big Trouble Under The Banyan Tree. Special Correspondent Sudip Mazumdar reports on the struggle for control of the holiest site for Buddhists in northeast India. The Mahabodhi Temple, which includes the tree under which Siddhartha Gautama attained enlightenment, becoming the Buddha some 2,500 years ago, is mired in crime, corruption and astounding sacrilege. Many Buddhists blame the Indian government for the current state of the temple and are fighting for control.

http://www.newsweek.com/id/117813

An Ancient Glory Rises. Mazumdar also reports on the rebuilding of Buddhism's Nalanda University, one of the greatest schools of antiquity, which was destroyed by Turkish-Muslim marauders in the 12th century. Now political leaders from throughout Asia have joined forces to rebuild this once great institution. The attempt to rebuild a world-class university reflects in part an effort to restore Asia's reputation as an intellectual heavyweight. But it is also driven by a recognition that Buddhism is prospering in India.

http://www.newsweek.com/id/117812

The Biggest Bully. Moscow Bureau Chief Owen Matthews reports that although most Russians are better off today than they were before Vladimir Putin took power, his aggressive style has cost Russia allies in the neighborhood. When Putin came to power there were Moscow-friendly regimes in Georgia, Ukraine, Azerbaijan and Moldova. Now all of those countries are members of an informal anti-Russian, pro-NATO alliance known because of its member countries by the acronym GUAM.

http://www.newsweek.com/id/117815

China: The Reform Trap. Guest columnist David Victor, director of the Program on Energy and Sustainable Development, writes that China's blackouts last month were mainly a byproduct of the government's struggle to manage the centrally-planned and market-based parts of the economy side by side. "A few years ago, Beijing might have dampened industrial growth by closing the spigot of finance from state-owned banks. But many newly deregulated state enterprises, as well as new privately owned firms, have found other sources of capital," Victor writes.

http://www.newsweek.com/id/117004

Ending the Cuban Exception. Contributing Editor Jorge Castaneda, Mexico's former foreign minister, writes that the resignation of Fidel Castro from two of his three jobs in Cuba, only partially marks the end of an era. "So as long as the founder of the Cuban revolution is around ... two things will be clear. First, Raul will be barely able to budge on even the modest economic or regulatory reforms he hopes, somewhat naively, will put food back on Cubans' tables. Second, the younger Castro will be unable to replace the old guard in the top jobs with members of a younger generation," writes Castaneda.

http://www.newsweek.com/id/117809

Arab-America's Store. Midwest Bureau Chief Keith Naughton reports that Wal-Mart, the world's largest retailer, hopes to attract Arab-American shoppers when it opens a store, like no other among its 3,500 U.S. outlets, in Dearborn, Michigan this week-the largest concentration of Arabs outside the Middle East. Wal-Mart's Arab-American emporium provides a preview of the retail giant's latest strategy to boost business as it reaches the saturation point in its American expansion.

http://www.newsweek.com/id/117835

Extinction Trade. Science Columnist Sharon Begley reports that endangered animals living in protected areas such as Zakouma National Park in Chad, are the new targets for militias and warlords lured by easy money. The State Department and some members of Congress suspect a link between illegal wildlife trafficking and terrorism, but admit, "the evidence is anecdotal," says Claudia McMurray, assistant secretary of State.

http://www.newsweek.com/id/117875

GLOBAL INVESTOR: The Unspeakable R Word. Senior Editor and Columnist Daniel Gross writes that in recent weeks, abundant evidence has pointed to a recession-a broad-based contraction of economic activity-from rising unemployment claims to the continued pain in housing. "Wall Street economists, whose employers have been experiencing their own private recession since last summer, haven't shrunk from using the R word," Gross writes. "But in certain quarters of Washington, euphemism and understatement, verging on outright denial, are par for the course."

http://www.newsweek.com/id/117834

WORLD VIEW: What the World Is Hearing. Newsweek International Editor Fareed Zakaria writes that although Hillary Clinton and Barack Obama both say they would work to improve America's reputation and relations with the world, none of this will matter if they continue to spout dangerous and ill-informed rhetoric about trade. What the rest of the world-particularly poorer countries-want "is for the United States to continue its historic role in opening up the world economy ... If the candidates think they will charm the world while adopting protectionist policies, they are in for a surprise."

http://www.newsweek.com/id/117841

THE LAST WORD: Fadela Amara. French Cabinet Minister selected to head Nicholas Sarkozy's "Marshall Plan for the suburbs" tells Newsweek that although the problems in France's banlieues are not new, she plans to make sure they are handled differently. "Real political will was greatly lacking. There was no follow-up, no assessment. No one really knew who governed urban policy. Today, I'm the conductor. I knock at each ministry ... and say, 'What are you going to do for the banlieues today and how much will you put in?'"

http://www.newsweek.com/id/117816 SOURCE Newsweek

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