Word: northeasters
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Daylight betrays the real Shenyang, a grimy industrial town northeast of Beijing that is sunk in despair. Once the shining star of Maoist industrial production, the city has lost its way in the changeover to private enterprise. Last night's revelers have been replaced by a handful of dejected men with nothing to do but smoke. More bicycles than cars circle the square as those still toiling in the antiquated state-owned factories that make products no one buys head for their redundant jobs. The reason so many people pack the square at night, says an only nominally employed factory...
...blighted streets of Shenyang's Tiexi district industrial zone tell the troubling tale of China's ailing state sector. White-elephant plants like these all over northeast China account for less than half of the total economy but still employ two-thirds of the labor force. Beijing insists the national unemployment rate is only 3%, but no one believes that. In Shenyang some guess the real rate is closer to 20%. "China has 1,000 terms for unemployment," notes a Western diplomat. Most of the jobless are said to be "waiting for a new post" or "awaiting retirement" or "relocated...
...came to Budapest to get away from my life as I knew it in the Northeast Corridor, to remind myself that the world was bigger than New York and Boston, that somewhere people were speaking other languages and, maybe, thinking different thoughts. And Eastern Europe is different...
Last year, students in the Northeast borrowed over $2 billion to pay for higher education...
...Today Bell's firm, Texas American Express, shelters mainly profit. Sales are heading toward $12 million, and 80 freight trucks--whose colors range from salmon to emerald green to pink because employees can pick the shades they please--ply the roads from its modest base in Dallas to the Northeast and the West Coast. Bell is a success--and he has to work harder than ever to stay that...