Word: shanghaied
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...Lenovo's share price in Hong Kong has fallen 21% since the deal was announced in December. Investors are questioning the prudence of acquiring a unit that lost nearly $1 billion in the three-and-a-half years prior to June 30, 2004. Ma Xiaoye, director of the Shanghai-based Academy for World Watch, has larger doubts: "The government should consider, does a developing country need to invest overseas...
...Taiwan President Chen Shui-bian's reelection bid, Beijing refused to permit the charters.) But unlike 2003, when the charters were limited to Taiwan airlines, this year mainland carriers will be allowed to land in Taiwan for the first time. "This is a historic moment," says Eric Teng, a Shanghai-based businessman from Taiwan. "It can really help achieve peace in the Taiwan Strait." And, he adds, it will shave a few hours off his journey home...
Chinese pirate companies have long been accused of illegally copying easy stuff like shoe polish and digital movies. Now General Motors says a Chinese firm knocked off an entire vehicle--and Americans could soon start buying its cars. A unit of GM last month filed a lawsuit in Shanghai accusing Chery Automobile Co., the Chinese automaker, of filching production-line blueprints for a compact car, the Chevrolet Spark, which GM says cost "hundreds of millions of dollars" to develop. Chery's car, called the QQ, does indeed look like an identical twin to the Spark and comes in candy colors...
...revealed how it thinks Chery obtained the plans. But since Chery was once partly owned by GM's Chinese joint-venture partner, Shanghai Automotive Industry Corp., many suspect that GM's comrades passed along trade secrets. Regardless, Chery plans to build on its success at home to become the first Chinese automaker to crack the American market. It revealed plans to offer five models last week, including an SUV, at costs below anything riveted together by Detroit's Big Three. It has teamed with a legendary partner--Malcolm Bricklin, who brought the Subaru to America in the 1960s. Bricklin describes...
...building, the 1,670-ft. Taipei 101--named for the number of its floors. After it was completed, Chinese authorities and the developer, who were determined not to let their least favorite neighbor get ahead in the vertical space race, not only green-lighted a much delayed project, the Shanghai World Financial Center, but insisted on additional stories so that the building will have more occupiable floors than the tower in Taiwan...