Word: cheapness
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That's true. While the cost of housing can be an obsession in other cities, Berlin's plentiful supply of inexpensive pads is a key factor in its appeal. A big overhang of cheap apartments and abandoned factories and warehouses in the formerly communist eastern half has depressed prices throughout the city. Studio space is to be had for next to nothing. Even in Mitte, the center of Berlin's new Szene, newly renovated apartments rent for less than one quarter of what you'd pay in London. That's a big draw. But Berlin isn't just cheap. Some...
...motorcycle. The West focuses on the bottom half of Africans living in appalling poverty; Beijing is looking at the other half who might soon buy Chinese-made T-shirts, shoes and bicycles. China's Ministry of Commerce, through banks and export agencies, is offering cheap loans and tax and export credits to Chinese state-owned companies seeking to build a base in Africa. Incentives are given to Chinese manufacturing and retail businesses in addition to exploration and construction companies. In return for so-called "no-strings-attached" aid and cheap loans to African countries, Beijing expects privileged access...
...There are weaknesses to Beijing's great plan. For example, cheap Chinese goods flooding the continent sacrifice African jobs, sparking a backlash against the Chinese presence. Corruption is serious, institutions are weak and political risk in various African countries remains high, meaning the possibility of social and economic breakdown is real. No one will bet their house on continued growth in many African countries. But the West should take note: China has a plan to seize the advantage should the African consumer take flight...
While you’re out and about, don’t forget to make a trip to the Holyoke Center to buy a $40 bus ticket to New Haven from the Harvard Box Office. School spirit sure isn’t cheap...
...Currency During his confirmation hearings in January, U.S. Treasury Secretary Tim Geithner accused China of manipulating its currency, driving down the value of the renminbi to make Chinese exports cheap. That provoked a furious response from Beijing, and since then Geithner has toned down his message. While he expressed a belief commonly held by economists, an official finding of currency manipulation by the U.S. government would trigger negotiations with China and possibly duties on Chinese imports. In October, the Treasury Department said that the renminbi was undervalued, but that China was not a currency manipulator...