Word: guo
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...Guo, 40, is one of the richest men in China. He founded his company, now a huge conglomerate, in the early 1990s, with three friends from Shanghai's Fudan University. Today, like so many successful Chinese businessmen of his generation, he seems preternaturally calm when talking about why he believes the future is going to look a lot like the present: new houses go up, new houses get bought, more new houses...
...number of satellite cities going up around Shanghai alone - and you get a sense of the economic forces at work. To the developers who conjured this place out of nothing, the payoff is as close to a matter of fact as any investment can be. Listen to Guo Guangchang, the co-founder and CEO of Fosun Group - whose subsidiary, Forte, is one of the primary developers here - and the message is clear: if you build it, they will come...
...famous Bund, and I half-jokingly told him I was a little nervous about my investment. Analysts' reports these days are full of tales about China's real estate bubble. Was it possible that the skeptics might be right - that Shanghai itself is already overbuilt, and the suburbs Guo is helping create are a bridge way too far? He looked at me as if I were from another planet, then smiled politely. "There is only one Shanghai in China," he said. "People want to come here from all over the country. People need good quality housing at a decent price...
...postwar prosperity that fueled the flight to the suburbs is happening at the same time as the 19th century Industrial Revolution that lured people from the farm to the cities, and also as Progressive Era efforts to rein in the worst abuses of capitalism take shape. I asked Guo if he agreed. He nodded, but added a caveat: "What's different about China is the sheer scale of things. The simple fact is there are still 800-900 million people living in poor, agricultural provinces. That's about three times the population of the United States...
...something bad happens, I believe I deserve something uplifting,” said Vicky Guo...