Word: china
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...Buttressing that sort of attitude are the limited ways in which Chinese citizens can put their nest eggs to work. Bank interest rates remain regulated and miserly - offering less than 1% return on a standard savings account - and China has only just begun to open the door to its citizens being able to invest legally abroad. For most savers, that leaves real estate or the stock market - and if an apartment is the equivalent of a bar of gold, the stock market is the equivalent of a casino. Generally speaking, the Chinese love to gamble, but they love their bars...
...During his opening address to the NPC, Premier Wen said that 2010 was going to be a year of unprecedented economic complexity. He certainly got that right. A real estate downturn, perhaps a severe one, will hit China sooner or later. The problem is that if it arrives sooner, the world's fastest-growing economy doesn't have a whole lot to fall back on. Its export markets are still weak and its capacity to increase infrastructure spending again, after the massive increases of the past two years, is limited. With the rest of the world still trying to regain...
...Read "China's Own Version of the Real Estate Bust...
...timing that the glowing, indeed craven, China's Megatrends appears just as the world is rethinking China's rise. Google's threat to pull out of China, friction over the Dalai Lama, problematic international access to China's domestic market, the country's flawed regulatory environment, its voracious hunger for resources, its geopolitical maneuvers in Africa and Asia: all have lent urgency to worries about the country's ascendancy. But not for John and Doris Naisbitt. To them, China is an unalloyed success, one whose virtues are too little understood. Take Internet censorship: "Actually, most of the concerns about...
...China's Megatrends is the latest addition to John Naisbitt's Megatrends franchise, a series of middlebrow works that offer extremely generalized social and economic predictions. The first Megatrends (1982) was a publishing phenomenon that sold over 9 million copies and spent two years on the New York Times best-seller list. It was followed by Megatrends 2000 (1990), Megatrends for Women (1992) and Megatrends Asia (1996). But although almost 30 researchers worked on China's Megatrends, it has all the hallmarks of a glib, bolt-on extension to the juggernaut. It is breathtaking in its simplistic, groveling...