Word: guanghua
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...prospect of massive unemployment if factories shut down. "By transferring wealth from households to boost the profitability of producers, China's ability to grow consumption in line with growth of the nation's GDP is severely hampered," says Michael Pettis, a finance professor at Peking University's Guanghua School of Management. Indeed, although China is also subsidizing some consumer purchases and retail sales in China were up about 15% in the first nine months of 2009, consumption as a percentage of GDP remains today about where it was a year ago: at about a third of China's economy...
...yourself on the three-hour "Follow the Footsteps of Old Beijingers" tour. An English-speaking guide walks the group up the 700-year-old Bell Tower and around the Drum Tower before heading to Guanghua Temple and over the Silver Ingot Bridge, spanning two of the area's lakes. Afterward, as well as visiting a local house, you'll be taken to a tea ceremony at Prince Gong's mansion...
...threat from the rising number of bars, shops and restaurants crowding the lakeshore. See for yourself on the three-hour "Follow the Footsteps of Old Beijingers" tour. An English-speaking guide walks the group up the 700-year-old Bell Tower and around the Drum Tower before heading to Guanghua Temple and over the Silver Ingot Bridge, spanning two of the area's lakes. Afterward, as well as visiting a local house, you'll be taken to a tea ceremony at Prince Gong's mansion. As for creature comforts en route, you just have to hope for the best...
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