Word: shanghaied
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...friend from Shanghai leaned over to share her shameful secret: "I watched some of the Olympics," she said, in a tone of voice implying that this was a transgression akin to sleeping with her best friend's boyfriend or - even worse in this fashion-crazed city - toting an obvious knock-off handbag. For months, many citizens of China's most populous city gritted their teeth as Beijing got all the glory. But now that the Olympics are over, Shanghai is determined to reclaim the title of China's most happening metropolis. Just four days after the Summer Games' closing ceremony...
...Shanghai has always prospered as China's gateway to the world. While Beijing may boast millenniums of history, Shanghai owes its prominence to having served as a key trading port for colonial powers. As China accelerated market reforms in the 1990s, the country's 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...
...Still, Shanghai thrives best in those half-light moments when it's not clear whether it's dawn or dusk. Early last century, as the world veered inexorably toward global conflict, Shanghai opened its doors to myriad refugees - Russians fleeing the Bolsheviks, Jews escaping the Nazis, even Chinese communists dodging warlords - and threw one helluva party...
...city in September celebrated the opening of three major art fairs, one of which, ShContemporary, showcased not only top contemporary Chinese artists, but also emerging talent from more than 20 different countries. ShContemporary ranks as Asia's first international art fair, and the fact that it takes place in Shanghai is no coincidence. Shanghai may be in China, but its ambitions have always extended beyond the Middle Kingdom. Note, for instance, that China's regional bloc with the Central Asian nations - the People's Republic's only formal attempt at international alliance-making - is called the Shanghai Cooperation Organisation...
Asian stock markets posted sharp gains Sept. 19 as investors grew more confident that stepped-up government efforts to contain the damage caused by the U.S. credit crunch would be effective. Japan's benchmark Nikkei index was up 3.8%, Hong Kong's Hang Seng 9.6% and the Shanghai stock index shot up 9.5%, recovering some of the steep losses suffered earlier in the week...