Word: beijingers
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Scan the bare figures and China appears to be on the skids. Exports are plummeting, experts are slashing growth forecasts and unemployment could rise to its highest level since 1949, the year the People's Republic was founded. But if President Hu Jintao feels the heat, he isn't letting...
Once shy of making major foreign investments, Beijing has gone on the prowl for resources and underpriced assets across the globe. Cash-rich Chinese companies, backed by soft loans from state banks and re-energized by lower labor costs as jobs dry up, are descending on Central Asia, Africa and...
This is the second time in its 30-year history that the Pritzker has gone to a Swiss architect. In 2001 the winners were Jacques Herzog and Pierre de Meuron, a team whose signature buildings - the Tate Modern in London, the de Young Museum in San Francisco, the "bird's...
Economists simply do not believe that tight-fisted and relatively poor Chinese consumers have the purchasing power to rescue China's economy, let alone the rest of the world. They're too busy saving for a rainy day. Beijing realizes that among consumers "household savings are high (and their consumption...
CLSA analyst Chris Wood says that recent improvements in China's economy can be attributed partly to a surge in bank lending that began in November. This, he notes, could only happen in an authoritarian country such as China, where the government can - and did - order the banks to lend...