Word: honge
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...Whitman and Thoreau; China has Jiang, wandering the huge grassy expanses and singing of primordial elements - blood, death, soil - to which the nation is no longer attuned. "The heat caused by Wolf Totem ... is a symptom of Chinese people's collective depletion of spiritual belief," wrote critic Zhang Hong in the highbrow Wenhui Readers' Weekly. "The book is like a stimulant injected into the decadent contemporary spirit that allows people to fantasize about becoming aggressive and successful." Fittingly, those are the very qualities demanded by the new society evolving from China's economic boom...
...from the earth, two grams of gold will be produced. Last year the Dayingezhuang mine turned out 78,000 ounces of gold, worth more than $78 million at the current price of around $1,000 an ounce. There's more ore where that came from. The mine's operator, Hong Kong-listed Zhaojin Mining Industry Co., expects to get 80,000 ounces from Dayinggezhuang this year. It's a story that is playing out at thousands of other Chinese gold mines that, with metal prices soaring, are ramping up production - and changing the shape of the global gold-mining industry...
...Makers of low-end goods are already suffering. The Guangdong city of Huidong was home to 3,000 shoe factories at the beginning of 2007, but as many as 500 of them have closed over the past 15 months, says Li Peng, secretary of the Asia Footwear Association in Hong Kong. One-sixth of 44,200 textile firms tracked by the China National Textile and Apparel Council lost money last year and two-thirds are just breaking even. "Manufacturers' profits are so low that when they hit the slightest snag, they have to close," says...
...edge is getting dull. Labor costs have increased 50% in the past four years across southeastern provinces - an area of China sometimes called the "workshop of the world" - and a new labor law passed by Beijing will only add to the burden. Jonathan Anderson, an economist at UBS in Hong Kong, says that factory owners in southern China believe the new law will drive labor costs another 10-25% higher. Among other provisions, the new law entitles laid-off workers to one month of severance pay for every year of employment. "In a case where an export market is going...
Would you consider partnering with mass-market brands like H&M? Grace Lien, Hong KongI don't think so. Versace is positioned in the luxury-brand market, and only in that way can you be established forever as a luxury brand...