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...shortages will disappear overnight in 2006," says Joseph Jacobelli, a Hong Kong-based regional utilities analyst for Merrill Lynch. Moreover, most of China's capacity expansion will come in the form of coal-fired power plants, which, aside from their noxious environmental impact, suffer from crippling supply problems. (The mainland is also aggressively expanding the amount of energy produced by its nuclear power plants from 4,468 megawatts in 2002 to an estimated 36,000 megawatts in 2020, but this energy source is still expected to account for less than 4% of all the electricity produced in China...
...bond prices will fall?and the value of the assets held by Japan and China will be slashed. Another concern is that buying dollar assets to keep its exports cheap might have worked a bit too well for China, with strong exports contributing to the over-heating of the mainland economy. The biggest failing of the goods-for-bonds deal, however, is that it has hooked American consumers onto cheap imports and caused a huge deterioration in the U.S. current-account deficit. If U.S. interest rates surge, the ripple effect will be felt throughout the world in the form...
...Canada. Since then, the law-enforcement radar has blipped increasingly often over Fiji. In 2002, 74 kg of methamphetamine was found on a ship in Singapore headed for Fiji and Australia; in the same year, Hawaiian police busted a syndicate that smuggled cocaine and ice to the U.S. mainland, Tonga, Fiji, Australia and New Zealand; and last year, almost 2.5 kg of pseudoephedrine, a key ingredient in methamphetamine, was found in scuba tanks shipped to Brisbane from Fiji...
...Zealand and Canada. Since then, the law-enforcement radar has blipped increasingly often over Fiji. In 2002, 74 kg of methamphetamine was found on a ship in Singapore headed for Fiji and Australia; the same year Hawaiian police busted a syndicate that smuggled cocaine and ice to the U.S. mainland, Tonga, Fiji, Australia and New Zealand; and last year almost 2.5 kg of pseudoephedrine, a key ingredient in amphetamines, was found in scuba tanks shipped to Brisbane from Fiji...
...example of the kind of business high-cost Hong Kong needs in a big way: knowledge-based companies that don't require cheap inputs or production costs to compete. (Although the city has a world-famous film industry, Japan and South Korea have long been Asia's animation centers; mainland China and India are also on the rise in this field, capitalizing on their cheap labor pools.) Imagi is also a tale of the younger generation reinventing the family business, a venerable Hong Kong tradition...