Word: joint
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Dates: during 2000-2009
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North Korea is already benefiting--a little. In 2005, the Chinese trading company Tianjin Digital invested $650,000 to open a joint-venture bicycle plant in Pyongyang. "The conditions are really favorable," says Tianjin manager Liang Tongjun, whose company was granted a 20-year monopoly on bicycle manufacturing in the North. A month after the factory opened, the Dear Leader himself paid a visit...
Roger Barrett, founder of the Beijing-based Korea Business Consultants and one of the few Westerners to regularly do business in Pyongyang, says the North seems eager to court new investment. "The D.P.R.K. government is very keen to demonstrate that joint ventures are welcomed," he says. Barrett, who has been facilitating business deals in the North for more than a decade, compares the country's current condition to that of South Korea's before it emerged from military rule to become one of the world's export powerhouses. "You start to see how North Korea can move along in similar...
Deals in the North do have a marked tendency to go south. For example, a Thai telecom's plan to develop a mobile-phone network faltered after Kim's regime banned cell phones in 2004. Kelvin Chia, a Singapore-based lawyer who has worked with North Korean joint ventures since 2004, says many investors were spooked by the country's October 2006 nuclear test and the international fallout. "One of my clients was looking at going ahead with a substantial investment in a mineral-processing project," Chia says. "Before he went in, he had an indication from financiers...
...Amman, Jordan, it's the first time so many high-profile Muslims have come together to make such a public call for peace. Launched first in Jordan this morning, and then in other countries over the course of the day, the letter gets its final unveiling at a joint press conference in Washington, D.C., this afternoon by Mustafa Ceric, Grand Mufti of Bosnia, and John Esposito, director of the Prince Alwaleed Bin Talal Center for Muslim-Christian Understanding at Georgetown University. By pointing out the similarities between the Bible and the Koran, between Christianity and Islam, the letter's signatories...
...Football League wants, and the kind that the World Wrestling Federation has been able to drag blindly into its new enterprise, the first major pro league to be launched since the three-season flop of the United States Football League (USFL) in the mid-'80s. The XFL is a joint venture by the World Wrestling Federation and NBC that debuted last Saturday night. It is trying to sell itself as a more violent version of the NFL (no fair catches, taunting encouraged) with more sex (cheerleaders in revealing outfits), but that's not really the product it has. After...