Word: shanghaies
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...PetroChina’s rise couldn’t have happened without the support of UBS, the prestigious Swiss bank. By acting as underwriter for PetroChina’s listing on the Shanghai stock exchange, UBS guaranteed that PetroChina’s initial public offering (IPO) would be a success. That fact should give great pause to UBS employees and students at Harvard and across the country who are considering employment...
...UBS’s privileged position gave it unique leverage over PetroChina, and a responsibility to exercise sound ethical judgment. Had UBS declined to underwrite PetroChina, PetroChina’s success on the Shanghai stock exchange would have hardly been guaranteed. Without the support of a western firm, PetroChina would have had to rely upon a Chinese investment bank, which would not have been able to provide the same level of financial expertise or resources...
...remain relevant is going to be actively involved in engaging its students and faculty with China as the world's fastest-growing economy," says Howard Frank, dean of the University of Maryland's Robert H. Smith School of Business, which runs an M.B.A. program in both Beijing and Shanghai. "The program's returns include the benefits of that engagement...
...meantime, some best-selling Asian artists are content to poke fun at their foreign patrons. Shanghai artist Zhou Tiehai, who has exhibited at the Whitney Museum in New York City and the Mori Art Museum in Tokyo, gained international attention in the 1990s with his playful renditions of cigarette icon Joe Camel dressed as the Mona Lisa and other Western art figures. At the 1999 Venice Biennale, he exhibited fake magazine covers adorned with his face - a cheeky commentary on the overseas fame so many Asian artists crave. Now he produces soft-focus landscapes and chinoiserie portraits. Yet even though...
...fresh policy ideas. In the Philippines, one study has found that more than half the members of Congress hail from a political family. Even in China, where Mao Zedong rose to power demonizing feudalism, a class of "princelings," sons of former revolutionary cadres, has risen like feudal lords, including Shanghai Communist Party boss Xi Jinping, anointed during last month's Party Congress as President Hu Jintao's likely successor...