Word: cheapness
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...potholes and a tight turn, and the wheels come off. Factories have been able to increase output in recent years because the global economy has been on a tear. The 2004-07 period saw the second strongest bout of global growth on record - which translated into strong demand for cheap Chinese-made products. But this era may be ending. Most economists are predicting a significant slowdown in worldwide GDP growth in 2008. This slowdown, predicts Lehman Brothers economist Sun Ming-chun, will prove to be the "unmasking of [manufacturing] overcapacity in China." Says Li of the Asia Footwear Association...
...Some are already starving. China's competitive advantage has been its armies of cheap workers, but that edge is getting dull. Labor costs have increased 50% in the past four years across southeastern provinces - an area of China sometimes called the "workshop of the world" - and a new labor law passed by Beijing will only add to the burden. Jonathan Anderson, an economist at UBS in Hong Kong, says that factory owners in southern China believe the new law will drive labor costs another 10-25% higher. Among other provisions, the new law entitles laid-off workers to one month...
...roll, using wallpaper is often a cheaper alternative to masking a wall's imperfections. "It's also a good foil for small spaces," Loecke says. "Treating walls and ceilings the same way helps the room feel bigger because the eye doesn't move." And it can be a cheap-chic way of adding interest to a home. Rather than covering every wall, mounting a bold design on one surface is a striking technique. Says Shaw: "It's like having a work...
...hand at parallel parking. I decided it wasn’t my finest work—seeing as my car was perpendicular to the curb. She didn’t seem to agree.She leaned over to congratulate me, and I caught the faintest hint of cheap Pinot Grigio on her breath. My assessment of her sobriety was quickly confirmed as she took a dive out the passenger side of the car, landing face down in a snow bank.My mom, standing on the curb, looked horrified. I gave her the thumbs up.Back at home, I found myself smiling...
There are some glimmers of hope on the horizon. Charities like Habitat for Humanity are taking advantage of the cheap home prices and labor to fix up abandoned properties for underprivileged families. The strangely upbeat Repo Home Tour bus is about to launch a regular Saturday showing of vacant houses in an effort to get them sold quickly. And the city, lenders and financial counselors are joining forces to help residents prevent foreclosure. In fact, less than a mile away from the peach-colored home, close to 1,000 people recently gathered for the city's first free No Homeowner...