Word: dagang
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...China has long been concerned about its sluggish domestic consumer demand and recently vowed to expand it by injecting $586 billion into nationwide infrastructure. But a dwindling confidence in the economy seems to be getting in the way of the government's agenda. Here in the industrial town of Dagang, just south of Tianjin, instead of spending more to spur the country's GDP, the Gongs are actually tightening up their wallets for a rainy day. The Chinese have been hardy savers even in the best of times, scoring the highest saving rate among all major countries. Now, more than...
Nevertheless, the Gongs' living standards don't exactly fit into the Chinese definition of frugality. They live in a cozy two-bedroom apartment in downtown Dagang and drive to work every day in a Kia Cerato that, according to Gong, about 70% of the locals still deem a luxury. But they are not carrying a mortgage, which could have easily added another 2,000 yuan (almost $300) to their monthly expenditures. Gong's parents chipped in with their savings to help the young couple purchase the apartment...
...government says the pair, who are Uighur, were driven by religious extremism to attack a group of Chinese border police, killing 16 and injuring 16 more. "They said that religious beliefs are more important than life, more important than the prosperity of their familes, even their mothers," said Shi Dagang, the Communist Party secretary for Kashgar prefecture. "They were trying their best to perform jihad." The scene of the incident: the entrance of the Yijin Hotel, a dingy yellow three-story building with reflective windows. A visit to the site a day after saw a few police milling around...
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