Word: cheaping
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...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...
Eugene Gurkin (Donal Logue) is a janitor with a big ambition. All right, a medium-size one: to open a bar whose signature drink would be the gin Eugene, "a pint glass of nice, cheap room-temperature gin." Lacking the start-up scratch for his business, he hatches a plan when he sees Jagger, who will do cameos throughout the series, on an E! celebrity-home show. He recruits a motley band of burglars--including a lawyer turned cabbie, a security guard and a bombshell waitress with a shady past--and christens them the Knights of the title. "Issue...
That is good news for TV manufacturers and retailers because people over 50 tend to have more disposable income. But boomers can be cheap, er, price conscious. When a March 2005 Harris Interactive survey asked consumers whether they planned to buy an HDTV within a year, it found a relatively small age gap: 32% of 18-to-27-year-olds said yes, as did 28% of those 40 to 58 and 23% of those 59 or older. But although 29% of consumers in the youngest group said they would be willing to spend...