Word: cheaping
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Dates: during 2000-2009
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...mots justes in a piece of prose, Franzen's ranking would be through the roof. He puts up Updikean numbers. His writer's eye picks out the "chevroned metal floor" of a merry-go-round, and a man with a ponytail "as thick as a pony's tail." A cheap space heater is "a wattage hog with a stertorous fan and a grinning orange mouth." The California towhee, one of his favorite birds, is like "a friend whose energy and optimism had escaped the confines of a single body to animate roadsides and backyards across thousands of square miles...
...upshot, according to Deutsche Bank analyst Chris Reid: "Current travel volumes should not be challenged." The one sector that might be affected for a while is the burgeoning low-cost carriers in Europe, such as Ryanair and easyJet, which have soared to prominence by tapping into demand for cheap weekend breaks for passengers who frequently don't want to check luggage...
...city of Shenzhen, cradle of China's industrial revolution, is usually associated with impoverished migrant workers and cheerless gray factories churning out cheap toys, T shirts and sneakers for the world. While that gritty image represents Shenzhen's past, entrepreneur Pony Ma is a harbinger of its future. The 34-year-old Ma is an Internet tycoon with a fortune of nearly $500 million, thanks to the success of the Shenzhen company he founded in 1998, Tencent, China's largest instant-messaging service with 532 million registered users. The company's home is a tidy, landscaped campus where employees...
...economic miracle has had its limits. Parts of the city are industrial and drab, and in recent years petty street crime has become so bad that some Hong Kong residents no longer shop there for cheap household goods and knock-off designer clothes. But with per capita GDP of almost $7,500, Shenzhen is among the richest cities in China. Today's downtown is a jumble of traffic-clogged streets, luxury hotels, Hugo Boss and Louis Vuitton stores, and foreign eateries like Pizza Hut and Taco Bell. At the Portofino housing complex on the city's outskirts, golf carts carry...
...What's good for Lu is good for Shenzhen?and all of China. As the nation's economy roars ahead, growing 11.3% in the second quarter, more parts of the country will face the same challenges of rising costs, labor shortages and aggressive competition. Chinese employers "cannot forever have cheap labor," says Hong Liang, chief China economist at Goldman Sachs in Hong Kong. "They cannot just count on low-cost manufacturing." Soon the entire Chinese economy may be faced with the painful transition Shenzhen must confront today. Shenzhen is "trying to do what the country needs to do," says Chipscreen...