Word: scandalousness
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...first stock exchange was established in Shanghai, and much of the foreign direct investment that flows into China comes through here. Fashion houses, banks and law firms gravitate first to Shanghai, not Beijing. Still, the past couple of years have not been kind to the city. A cancerous corruption scandal, uncovered by the overlords in Beijing, claimed Shanghai's Communist Party boss and a chunk of the city's ruling élite. Shanghai's benchmark stock index has lost roughly two-thirds of its value since hitting its peak last October. Even the Japanese developer of the Shanghai World Financial...
...time when the reputation of "Made in China" is once again being battered by a product safety scandal - this time chemical-tainted milk - China will see a successful space mission as a welcome fall extension of its Summer Olympic glory. "When combined with a successful Olympics, it becomes very difficult for China to be [seen] as a developing country," says Yan Xuetong, director of the Institute of International Studies at Tsinghua University in Beijing. "With the huge amount of money spent and the high-tech capacity, the two things will make the world believe that China is a developed country...
...efficient, globalized nature of the nation's businesses. When it emerged last January that accused rogue trader Jérôme Kerviel had allegedly cost his employer, Société Générale, $6.86 billion for uncovered transactions, more than just a financial scandal was revealed. The case was also concrete proof, should any have been needed, that the French no longer matched their mythic status as a profit-eschewing, socially minded alternative to the dog-eat-dog Americans...
...state food-quality inspectorate. But "stability" also means not letting the blame game allow its focus to center too squarely on the party. Within days of the story breaking, the state media was commanded by the Propaganda Department to tone down its coverage of the tainted-milk-powder scandal. Lawyers looking to file suits on behalf of aggrieved parents were ordered in no uncertain terms to drop their plans. Internet discussions of this and other recent disasters were swiftly deleted...
...government in a Beijing suburb signaled that the grace period was over. The string of disasters that has befallen the nation since then will only add to questions about where the limits of the long-suffering public's patience lie. This week, anger over the tainted-milk-powder scandal was palpable at one of Beijing's main Children's Hospitals, where hundreds of anxious parents were lined up with their toddlers waiting to see a doctor. "Enough with the hindsight," said private business owner Zhang Zaihua, 26. "Where were all those supervisors before this whole thing happened?" Zhang...