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...boom? Many are not convinced. They point to a couple of factors that make China's situation different from that of the U.S. The first is that the real estate sector is nowhere near as reliant on debt financing as it is in the U.S. and much of the rest of the developed world. Consider the complex in which Yang, the cabbie, bought one of his three Shanghai apartments. The developer, Shanghai Forte Land, presold all the units before spending a cent on construction. In China's residential market, financing development with customers' cash, not loans, is standard operating procedure...
More expensive than Miami real estate and priced three-to-eight times higher than property in the rest of the Panamanian market, the Trump Ocean Club is partially financed by a $230 million bond offering from Bear Sterns. That bond is now being handled by JP Morgan following the collapse of Bear Sterns in the 2008 global financial crisis. "Without Trump, we would have lost our shirt," Khafif admits. Since then, more than 2,000 construction workers add a new floor each week, silencing many of the earlier skeptics who claimed the project would never get off the ground...
After starting out in a 5-0 hole, the Crimson tightened the game to 12-10 off two foul shots by junior forward Emma Markley. But Harvard would get no closer for the rest of the game, as the Orange used a 17-4 run to put the game permanently out of reach with 8:57 left in the first half...
...Wisconsin, says those who deride last week's blood ritual should take a good look at themselves. All religions engage in some kind of irrational rite, and superstitious rituals abound in daily life at weddings, graduations and other ceremonies. The Red Shirts aren't any different than the rest of us, he says. "They are not more stupid or irrational than us. In fact, they are creative and self-aware...
...cause of Mexico's foreign policy retrenchment. But ironically, says O'Neil, a major factor has been democratization. When Mexico was under the dictatorial rule of the Institutional Revolutionary Party (PRI) from 1929 to 2000, the government could worry less about domestic disputes and focus more on the rest of the world's problems. But after the PRI was toppled a decade ago, "all of a sudden learning how to deal with [domestic legislative politics] mattered," says O'Neil, "and there was not a lot of bandwidth left for foreign policy...