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The world is watching closely as Beijing prepares for the historic 2008 Olympics. But for all the attention paid to air-quality indicators and human-rights violations, it might just be what happens on the field that matters most of all.

As the Bush administration readies a “pivotal” progress report on Iraq, it’s worth asking if this time will be any different than the past. We’ve seen countless politicians and pundits on both sides herald the arrival of a “turning point” in Iraq, only to watch the war roll on. Herewith, a quick rundown of the “turning points” that turned out to be anything but.

Millions of toys are already piling up on U.S. shores in time for the holiday shopping season. But now that Santa’s workshops are mostly in places like Guangzhou and Shenzhen, American parents are wondering if toys will make safe Christmas presents for their kids. To find out whether the toy companies have been naughty or nice, FP spoke with toy-industry expert M. Eric Johnson.

Many people assume that when President Bush leaves office, most of his failed foreign policies—especially democracy promotion—will wither on the vine. But if there’s one thing we know about government, it’s that it’s much harder to dismantle programs than it is to create them in the first place.

With democracy flourishing in most corners of the globe, the very idea of monarchy seems a quaint throwback to a bygone age. And today, many are the kings who sit uneasily on their thrones. For this week’s List, FP looks at some of the royal families who just might be on their way out.

It’s not easy representing one of the world’s most vulnerable nations. Not only must you confront such problems as endemic poverty, entrenched corruption, and ethnic violence, but you have to defend your government from ferocious criticism in the media. To get the other side of the story, FPTV sat down with ambassadors from seven of the worst-performing countries on the 2007 Failed States Index.

As European winemakers enter the harvest year, they face a growing set of challenges: the surging popularity of “New World” wines, less protection from the EU, and even global warming. FP asked Michael Veseth, a political economist who studies the global wine market, where the world of wine is headed.

Corrupt, tyrannical governments—not changes in the Earth’s climate—will be to blame for the coming resource wars.

With just a few weeks left in August, vacation season is at its peak. Still don’t have plans while the rest of the office is away? Want to avoid the tourist traps? In this week’s highly scientific List, FP visits a few of the world’s most overrated summer travel destinations so you don’t have to.

Many in the U.S. Congress complain that Wall Street’s new titans aren’t paying their fair share of taxes. But Steve Forbes, editor in chief of Forbes magazine, warns that a proposed new tax on private-equity managers would only weaken the U.S. economy, punish entrepreneurs for taking risks, and hurt ordinary retirees.

The Olympic Games are inherently political—and it’s time we admit it.