Word: keeping
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...minivan dealership in Xi'an. Customers streamed into the showroom, briefly opened and closed the doors of the displayed minivans, and then marched over to the front desk to plop down their money, often within mere minutes of arriving. Xu Zhanrong, the dealership's deputy general manager, can barely keep the Wulings in stock. Sales of the minivans - manufactured by a joint venture between General Motors, Liuzhou Wuling Motors and Shanghai Automotive Industry - are up some 40% this year, Xu says, with about 50 purchased each day. One big reason, Xu explains, is that his customers, and especially those...
...keep that change going, the Chinese government has more work to do, however. Though the ingredients of rebalancing might be percolating in Xi'an and the rest of China, making it actually happen will take additional reform. The economy is still too dependent on investment and government spending instead of private consumption. Even though consumer spending is increasing, it is not growing quickly enough. Private consumption's role in the economy has actually been declining, to a mere 35% of GDP in 2008 from 46% in 2000. Economists say policymakers need to speed up the development of a better social...
...there are signs that there may be enough solid demand within China's domestic market to keep Xi'an's growth story alive. Carsten Wiegandt, the German acting general manager of the Kempinski Hotel, located on the city's outskirts, has been surprised by the kind of visitors filling his rooms. After the five-star hotel opened in June 2008, management expected tourists arriving from overseas to see the terra-cotta warriors. When the global recession hit, he feared his business might suffer. Instead he found visitors pouring in from other parts of China, many attending conferences being held...
...forebears, whose expression of gratitude we celebrate Nov. 26. But the day after Thanksgiving is Black Friday, the traditional start of the holiday shopping season, and it's in need of all the consumption it can get: conspicuous, ridiculous, tasteless or otherwise. It could take a Snuggie Christmas to keep the economy on the mend. Last holiday season, retailers cut prices so deeply that profits disappeared. Then, for much of the year, shoppers cut back too. "I don't think anyone had ever lived through that big a swing in consumption in such a rapid period of time," says Stephen...
Houses of worship have long prided themselves on keeping their doors open to all. And many have assumed that respect for their sacredness--and perhaps fear of divine retribution--would keep them safe from crime. But as schools and businesses use more-sophisticated security systems, churches are becoming the soft targets in some communities...