Word: booming
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...boom economy, however, things change fast. Shanghai still has glam in spades. You can sip your Cosmopolitan on the Bund while gazing out at a relentlessly rising skyline. You can wander along the leafy boulevards of the former French Concession, pausing for a soy latte or a therapeutic browse in one of the fancy clothes shops on Hengshan Road. But now you can do art, too. Springing up amid the gleaming, dreaming towers are studios and galleries, large and small, testifying to the fact that where money grows, culture follows. Here are some of our favorites...
...show for it. But something changed after 2001, when what had been a long and in retrospect moderate rise in indebtedness exploded into a spectacular binge in mortgage and home-equity lending. It started with super-low interest rates that kept consumer spending rising even as the tech boom of the late 1990s collapsed. But before long, the mortgage boom took on a life of its own, with ever bigger and weirder loans handed out to people who would be able to pay them back only if they won the lottery or the price of their house kept rising...
...biodiesel boom has a high environmental cost, however. Critics say it's contributing to global warming. Tropical forests help remove millions of tons of carbon dioxide from the atmosphere every year. Burning and clear-cutting not only eliminates one of the planet's crucial air-filtration systems, the process also releases even more carbon dioxide into the air, in smoke or as gases released during the decomposition of forest waste. Annual clearing of Indonesia's carbon-rich peatlands alone releases some 1.8 billion tons of greenhouse gases, according to a Greenpeace report. Indonesia is the world's third largest emitter...
...from that of older Singaporean poets such as Edwin Thumboo and Lee Tzu Pheng, who typically concerned themselves with questions of national and cultural identity (indeed, Thumboo has spoken of Wong's "remarkable inwardness"). Wong worries less about his cultural provenance and more about his own isolation amid the boom and bustle of the cityscape. In one poem, he bemoans his distance from his mother: she "sits in front/ of the television every day,/ afloat in a dress too large/ for her body, fanning herself/ with a magazine, feigning contentment." He compares his father, who has refused to accept Wong...
...Costello remains a voter concern, according to polls. However, Rudd has largely defused economic management as an issue. The thrust of his case is that Australia's strong economy is less the result of any judicious handling on the part of the government than of the ongoing minerals boom and watershed reforms undertaken in the 1980s by Labor governments. He's repeatedly cast himself as an economic conservative and tried to prove it by declining to match the government's extravagant spending promises...