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...needle-like beak pointed upward in take-off position. After all, just such a Concorde plane crashed in a ball of fire nearly 10 years ago, less than two miles (3 km) from where the mounted jet now stands. It was an event that doomed the world's fastest-ever passenger jet - an aircraft designed by French and British engineers - to a future as a museum relic...
...China is facing the consequences of its largesse. Fears are rising that Beijing's easy-money policies have fueled a potential property-price bubble. According to government data, average real estate prices in Chinese cities jumped 7.8% in December from a year earlier - the fastest increase in 18 months. The credit boom has also sparked worries about the nation's banking system. Many economists expect the large surge in credit to lead to a growing number of nonperforming loans (NPLs). In a November report, UBS economist Wang Tao calculates that if 20% of all new lending...
...Despite the enthusiasm, the exact economic trajectory for the books is still open to interpretation. The Indian market, despite being considered one of the fastest growing in the world for English language titles, is unique in the world. Unlike in the U.S., where purists lament the disappearance of the independent bookshop from Main Street, three quarters of India's estimated 2000 bookstores are small, independent dealers, the majority of which still don't use computers to track sales. "So there's no way of finding out exactly what?s happening," says Padmanabhan...
...side effects of the country's stimulus efforts - a runaway property market. Fueled by cheap credit, property prices have grown steadily since mid-2009. A government survey of 70 medium- and large-size cities found that in December, average housing costs jumped 2.1% over the previous month - the fastest increase in 18 months. (See pictures of China's infrastructure boom...
...Moreno Valley, once one of the fastest-growing cities in the Inland Empire, the competition for foreclosed homes is intense. In December, only 532 houses were listed for sale, down from approximately 3,500 a year ago. "Pretty much anything under $150,000 is going to be bought with cash," says Oscar Rodriguez, a Century 21 real estate agent. He calls his clients, primarily first-time buyers, "goldfish going against sharks." (See pictures of Los Angeles...