Word: beijingers
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Japan is not without sin. Indeed, when it was industrializing in the last century, Japan was as famous for environmental catastrophes as for conservation. Minamata disease, the consequence of an industrial mercury discharge, caused muscular and neurological damage for thousands of Japanese; dioxin pollution has only recently been addressed. In...
When Chinese stock markets soared into nosebleed territory, quadrupling in 2006-07, Chinese mom-and-pop investors tried to convince themselves they would be spared bloody noses because Beijing was hosting the 2008 Summer Olympics. Feel-good investor sentiment surrounding the August Games, the thinking went, would prop up overvalued...
The awakening from these Beijing dreams was as rude as it gets. As of April 15, the Shanghai Composite Index has slumped 46% from its Oct. 16 peak. The global credit crunch, the staggering U.S. economy, and China's efforts to tame inflation and cool unsustainably fast economic growth teamed...
This information isn't complete or compelling enough to make predictions. Indeed, after the tumble its markets have already taken, China seems almost certain to join the losers bracket. Slowing global economic growth will likely be an overall drag on profits through the end of the year at least, and...
It's neither an unsatisfying nor inaccurate story, but these days it sounds old-fashioned because globalization is rewriting the tale. Asians are still emigrating to America, but many are returning to Asia, pursuing the same wealth and advancement that America once exclusively offered. In fact, it's increasingly difficult...