Word: booming
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...history of this production typifies the common-sense paths that producers are testing to escape the boom-or-bust cycle on Broadway, where high operating costs all but demand that shows have ecstatic reviews or a huge advance sale to survive. Rappaport started as a production of the Seattle Repertory Theater. Next, that company's artistic director, Daniel Sullivan, staged it off-Broadway in June. Word of mouth built, and so did sales. Late last month Rappaport transferred to Broadway, where it takes its place as the funniest and most touching play yet this season. --By William A. Henry...
Life has grown sweeter in Longzhao. Women who once made $10 a month can now take home $30 to $40, while their husbands earn similar paychecks building houses and factories, thanks to the construction boom, or working at jobs once limited to large collectives, like raising pigs and ducks. Liao's husband builds houses. With their combined income of $670 a year, they were able to buy a three-room duplex for $1,700. The collective chipped in about $300, and the couple will pay the balance over several years. Liao does not begrudge the debt, since it symbolizes better...
...tech companies are being wooed with tax breaks, and in an effort to slow down construction, taxes have been levied on those who own apartments but do not live in them. The government will find it more difficult to cool the tremendous energies that have been released by the boom. In a country where patience is a hallowed virtue and time a bountiful commodity, the people of Shenzhen are in an uncharacteristic rush. "The ringing of a doorbell makes me shudder," confessed a recent letter writer to a Shenzhen youth newspaper. He went on to complain about how the visits...
Despite a declining dollar on world currency markets, which makes foreign products more expensive in the U.S., Western Europe's trade surplus is expected to rise from last year's $25 billion to $40 billion. If, as expected, the European export boom eventually cools down, the gap can easily be filled at home by rising consumer demand and increased industrial investments. Even the painful level of unemployment will probably decline slightly in the year ahead, partly as a result of an increase in small, new businesses. Nonetheless, some 10.5% of the labor force remains jobless, and this continues...
...bulls were really running last week. From consumers to financiers, nearly everyone was celebrating the belief that the economy is kicking into high gear. Thanks to low inflation, the boom machine could hum smoothly for years. Carl Icahn, TWA's new chairman and top stockholder, struggles with a strike and mounting losses. The World Bank's new lender in chief...