Word: beijingers
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A balmy summer night finds Ma Ziqi and a group of skateboarders weaving and flying around an open square in Beijing. Ma sets himself apart from the crowd, not only by his choice of wheels - he is the lone BMX rider - but by his skills. He pulls long wheelies, his...
Compared to the rest of Beijing, this square contains few obstacles for Ma and the skateboarders, just the flowerpots, floor lights, onlookers and trees in front of the ornate Wangfujing Church. As in other places, being punk in Beijing can mean many things. Ma doesn't even like to use...
The point is that there is more, much more, where that came from. To date, China's economic engagement with the outside world has come largely via exports (it exported $969 billion worth of goods last year) and by attracting huge amounts of foreign direct investment, mostly from manufacturers taking...
For Beijing, having $1.4 trillion to invest is a nice problem but a complicated one nonetheless. "It's the classic elephant-in-the-room syndrome," says a Western banker who advises the State Investment Co. "Where does he sit? Anywhere he wants, sure. But he's got to be very...
Nor has that been the only political problem tied to foreign investment for China. Beijing has not forgotten the protectionist uproar that was triggered in the U.S. when CNOOC tried to buy the Los Angeles-- based Unocal. The lessons, say people involved in the deal, have been seared into the...