Word: million
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Dates: during 2000-2009
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...making the technology way better. After all, 3-D entertainment is nothing new. The early 1950s were flooded with 3-D movies, and the technology has made an occasional comeback ever since. (The highest-grossing 3-D film, oddly, was 1970's The Stewardesses, which made $27 million.) Each time, though, it's done in by the same complaints: poor image quality and headaches and eyestrain from extended viewing. Early reviews of the new models from Sony and Panasonic suggest they've solved the problem. Both use glasses that contain tiny shutters, opening and closing at 120 frames per second...
...meeting on climate change on Sept. 22, it is China that has managed to seize the moral high ground - fairly or not. President Hu Jintao told the U.N. that by 2020 China would increase the share of renewable and nuclear power in its energy supply to 15%, plant 40 million hectares of forest, increase investment in a greener economy and reduce its carbon intensity - the amount of economic value it gets per unit of power - by a "notable margin." Many of those domestic goals had already been announced, but the tone of Hu's speech made an impact...
...Until now. In another demonstration of how the recession is shaking up the global financial order, two luxury Hong Kong apartments have just gone on the market for a stunning $38.7 million each. If the developer, Sun Hung Kai, finds buyers at that price, the three-level penthouse dwellings, perched atop the 93-storey Cullinan towers with sweeping views of Hong Kong's harbor, could well qualify as the world's most expensive apartments. More than 4,000 sq. ft. in size, the apartments, which are still under construction, are selling for $9,677 per sq. ft. That's considerably...
...were in March 2008. But confidence in Hong Kong's luxury market, driven by surprisingly strong economic growth in China, is recovering quickly. Just last week a penthouse apartment located in a new tower built not far from the Cullinan in Hong Kong's Kowloon district sold for $3.16 million. That may not sound like much for an upscale address, but the apartment has just 590 sq. ft. of useable space - meaning the buyer paid $5,356 per sq. ft. of living area...
...that low interest rates, high liquidity and a tight supply of new apartments could fuel irrational exuberance. Churchouse says: "I could easily see this market developing into a bubble, but it's not a bubble yet." That should be of some comfort for the buyer who just paid $3.16 million for a 590 sq. ft. apartment...