Word: macau
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Dates: during 2000-2009
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...Malibu? In some ways, what's happening in Singapore more closely resembles recent events in Macau, the former colonial enclave on the Chinese mainland that saw its property market and economy soar after the government in 2002 ended a longstanding gambling monopoly and touched off construction of a spate of new casinos, resorts and residential projects. Singapore's actions are having a similar effect. Development is booming and property prices have been soaring. Upscale home prices that averaged about $8,500 per sq m two years ago are expected to reach more than $21,300 per sq m this year...
...North Korea wants to get its hands on $25 million in funds that was frozen by Macau banking authorities after U.S. investigators linked the money to counterfeiting and other illicit activities conducted by members of the North Korean elite. But critics of the Bush Administration's policy contend that the regime has used the fund freeze to stall because it simply doesn't want to lose its nuclear threat and become just another desperately poor country...
...Hill didn't sound so sure about that. Macau has unfrozen the funds in dispute, so if that's really the reason for the North's delay, Hill said, "if it's going to get resolved, then it certainly can be resolved very soon." Which leaves open the possibility that it won't be resolved because that's not in Pyongyang's interest. As Hill put it, "The ball is in the North Koreans' court...
...China has also been embarrassed by the North's nuclear and missile tests. And China has seen that the U.S. was willing to go "more than the extra mile," says Einhorn, to resolve the Macau banking dispute. "The Chinese will now be more inclined," he predicts, "to come down hard on the North Koreans for further foot-dragging...
...radical blueprint, and it dovetails with Tsang's own target of achieving full democracy by 2012, when his new five-year term will end. The response out of Beijing to Chan's plan, however, was anything but welcoming. Chen Zuo'er, the deputy director of the Hong Kong and Macau Affairs Office, was at pains to stress that it was Beijing-and by implication, not local Hong Kongers-that took the lead on political reform during negotiations with the British prior to the handover. Present-day activists in Hong Kong, Chen said, were just "people who now pretend...