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...think this is the latest, depressing tidbit from the historic real estate bust in the United States, think again. The other former global growth engine - China - which saw its own real estate bubble expand in the last five years, has now got its own property market problems - and they're intensifying. (See pictures of Beijing's changing skyline...
...period of national soul-searching. "Let's not kid ourselves, we're in the middle of a tough crisis, but we've now got a very good stimulus plan," Zu Guttenberg told Germany's Bild newspaper recently. "We expect the economy will pick up this autumn, at the very latest." The next few days will decide whether Opel will be part of that resurgence...
...Rehman's resignation is the latest sign of divisions in Zardari's ranks. Another senior minister, Raza Rabbani, resigned last week. And two former aides to Zardari's slain wife and former Prime Minister Benazir Bhutto, Naheed Khan and Safdar Abbasi, have launched fierce attacks on Zardari, accusing him of betraying Bhutto's legacy as they urged support for the antigovernment protests. Sharif has been singling out Zardari in his attacks, attempting to isolate the unpopular President from the rest of the PPP. The tactic appears to be paying off, with Zardari increasingly being seen as the chief aggressor...
...doubt recognize the names of Bill Gates, Warren Buffett and Oprah when scanning Forbes' latest list of "The World's Billionaires." But amid the various business tycoons, A-list celebs and royal heirs on the annual roll call is someone known mainly by members of Mexico's seedy underground and the police officers who chase them: Joaquin "El Chapo" (Shorty) Guzman Loera. (Read "Mexico Exports its Drug Wars to Guatemala...
...Rangoon, I watched on television as generals in oversized camouflage hats were pictured shoveling earth to plant jatropha seedlings. Burmese state television shows an inordinate number of ribbon-cutting ceremonies and ground-breaking rituals, in which military men inaugurate the latest project and broadcasters congratulate their efforts. Eventually, as so often happens in Rangoon, the power failed and the T.V. screen went black. Biodiesel may already be contributing to a green solution in some parts of the world, but it hasn't saved Burma...