Word: booming
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...some ways, given the frothiness of the global art market as a whole, Asia's rise is understandable. Yet the boom in modern Asian art also serves as an important reminder that the region is not just a copier but an innovator as well. Asia's avant-garde artists explore the clash between ancient traditions and pell-mell development, the lure of commercialism, and, most fundamentally, the struggle for individuality on the world's most populous continent. "There's this misconception that art from Asia is static, that it's the same old boring stuff," says Eloisa Haudenschild, an Argentine...
...Maos or identical riffs on the Ramayana will only saturate the market and, in the end, make artists' works less valuable. So, too, will a reluctance to explore different artistic avenues; imagine if Picasso spent his entire career in his Blue Period. Art critics worry that the current buying boom will only lead to creative stagnation - and that everyone from the artists to national governments are being blinded by money. "What people call avant-garde art in China has actually been co-opted by the government and is now mainstream," says Yang Zhenzhong, a multimedia artist from the eastern Chinese...
...culture. True, a handful of newly rich Chinese businessmen have invested in contemporary art, while members of the Indian diaspora snap up artwork with local themes to decorate their overseas homes. Nevertheless, it is foreigners - particularly European, American, Japanese and Singaporean collectors - who are driving the modern Asian art boom. The result has been a massive flight of contemporary art from the region. Exacerbating the trend is a dearth of quality modern-art museums in India, China and Vietnam. In August, the central Chinese city of Dujiangyan announced it was lavishing some of the nation's top contemporary artists with...
...tourism and investment and revitalizing Macau's economy (the city's gaming industry took in $6.95 billion last year, vaulting Macau past Las Vegas as the city with the most total annual wagering revenue). But for a small proportion of Macanese like those at Tan's meeting, the gambling boom has been a curse that has fed their addiction. For habitual gamblers and those prone to developing the habit, "Macau is really dangerous nowadays," says Ava Chan, former counselor at the Yat On Pathological Gambler's Counselling Centre in Macau. "Next to your house, there are slot machines. Across...
...Leaders in at least one Asian city that's poised for a gambling boom appear to recognize the need to take at least a few measures to protect the vulnerable few. In July, Singapore's National Council on Problem Gambling introduced a responsible-gambling code of practice, urging casinos to display numbers for gambling hotlines and to train staff on how to help problem gamblers. In an effort to keep Singaporeans who can't afford the vice away from the tables when the city's two planned casinos open in 2009, locals will be required to pay a $68 cover...