Word: shanghaies
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...Whatever the fund's well-meaning guidelines, policing them across such a sprawling portfolio is ultimately impractical. "Is any one of these 7,000 companies behaving in ways that you would not be comfortable with?" asks Slyngstad. "Yes, of course." But his team, which is spread between Oslo, London, Shanghai and New York City, tries to use its heft strategically - for example, to pressure firms in a sector like Brazilian mining, in which exploitation of child labor persists. Nor will the environmentally unfriendly origins of the fund's cash prevent it from pressing for better ecological standards. Last year...
...Last November, PetroChina became the world’s largest corporation, profiting all the while from the murderous state of affairs in the Sudan, where Khartoum-sponsored mass murder persists in Darfur. Meanwhile, UBS, the Swiss financial services giant, facilitated PetroChina’s rise by hosting its Shanghai IPO—without considering the bargaining power it held to enact change in one of the world’s most neglected, most devastated quadrants. Mere greed seems to have...
...Along the shopping boulevards of Shanghai and Beijing, perhaps the most pernicious impact of the one-child policy soon becomes apparent. In mall after mall, children raised as "Little Emperors" drape themselves in the latest Italian leather shoes and South Korean mobile phones. Pampering yourself might seem benign. But a society consumed by consumerism, and where most urbanites grow up never learning to care for siblings or to give up any of their own needs, will become a selfish society...
...back to the U.S., Francis - who at 16 seems to possess a level of enthusiasm and organization those twice his age would envy - began setting up a more substantial journey to China. Next month, he'll be embarking on a tour of the country that will take him to Shanghai and Beijing, where he'll be addressing students at high schools, universities and international schools in China's most important cities. He'll also be meeting with some of the country's more prominent greens, like Zheng Shigrong, the billionaire founder of the solar panel manufacturer Suntech...
...devastation is a reminder that for all of its explosive economic growth, parts of China are still painfully poor. While cities like Shanghai boast some of the world's tallest and most advanced buildings, rural areas are often plagued by substandard structures. During the 1990s China updated its building codes to standards that approximate those of the U.S. and Europe, says Greg Wong, a Hong Kong-based structural engineer who has worked in China since 1985. But those standards aren't always met, he says, especially in the countryside. "If they spent more money and build buildings half as good...