Word: mainlanders
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...mostly to Zhao's soulful performance as a cop torn between love, duty and motherhood. With her elfin stature, Zhao couldn't intimidate a jaywalker, but her convincing portrayal confirms her status as one of China's best actresses. Goddess's real success is its rewarding fusion of mainstream mainland actors with Hong Kong indie vision, pointing the way for future cross-border collaborations. When Zhao and Tse exchange smoldering glances (and occasional gunfire), one country, two systems never looked so good...
...hard to imagine getting overheated about a chain of uninhabited rocks in the East China Sea. But a Japanese activist last week crashed a bus through the gates of the Chinese consulate in Osaka, livid about the mainland's claim of sovereignty over the DIAOYU ISLANDS. The Diaoyus?known in Japan as the Senkakus?have been under Japanese control for more than a century, but feuds still rage over who owns them. In March, Chinese nationalists planted a flag on Diaoyu soil; their subsequent arrest by the Japanese navy led to furious demonstrations in Beijing, with Chinese protesters burning Japanese...
...European Union publicly supported a complaint the U.S. filed with the World Trade Organization against Beijing for imposing a 17% tax on imported semiconductors while levying 3% on chips made domestically. The policy has helped attract chipmakers like Taiwan Semiconductor Manufacturing Co. to open plants on the mainland. One U.S. trade group estimates that at least 19 new semiconductor facilities will be built there by 2008. --By Julie Rawe...
...bevy of bankers. HSBC was calling in about $400 million in loans made to CP, and the company didn't have the cash. Dhanin was forced to unload assets to raise money, including stakes in a Chinese motorcycle manufacturer and a brewer--companies he believed would thrive as the mainland market developed. "I was prepared to use any means to ensure our survival,'' says Dhanin. "It felt bad, but I always believed we'd get it back tomorrow...
They did. Five years later, Dhanin has reduced CP's debt and re-established its foothold in China. CP has set up a new brewery and a motorcycle factory and has announced plans to open 100 hypermarkets on the mainland by 2006. "If we don't go in now, we will be sidelined,'' says Dhanin. Chinese competitors, in particular, "are springing up like mushrooms after a rain...