Word: shanghaiing
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Bring a raincoat, or else get soaked by all the tears in Yu Hua's woebegone novel Cries in the Drizzle - originally serialized in a Shanghai literary journal in 1991, but recently published in English for the first time. In this glum and afflicted work, a schoolgirl blubbers when a snowball hits her; an unfaithful husband sobs at his wife's grave; a bride bawls when molested by her father-in-law; and, in the grisliest scene, a son keens into the void after a canine kills and eats his feeble mother...
Tang Weishang is embarrassed to admit that he might have made a mistake. Just over a year ago, the 27-year-old sales executive thought he could make a better living trading stocks listed on the Shanghai bourse full-time. He started investing in 2002 with $33,700, and he says he has done pretty well. So, after convincing his wife that he could make enough money to support them, he quit his job and stayed home every day, trading stocks via the computer in the bedroom of the couple's Shanghai apartment...
...almost every day that maybe it's time to go back to a regular job." These days who could blame her? After a furious 18-month run that saw shares of listed Chinese companies more than triple in value, the country's bull market is stumbling. Indexes in Shanghai and Shenzhen are both down about 15% from their October peaks, and recent moves by the government to cool China's runaway economic growth appear to have deflated the mania for stock investing that has gripped urban Chinese, from maids who quit their jobs to devote their time to trading stocks...
...Tian had an inkling the tide might be turning on Nov. 5. That's the day he sat in the private trading room that Shanghai Securities, his broker, makes available to their sophisticated clients and awaited the highly anticipated Shanghai-market debut of PetroChina, China's biggest oil-and-gas conglomerate. PetroChina was raising $8.9 billion, the largest initial public stock offering in China ever, and the buzz surrounding the listing was deafening. Tian thought the shares would quickly become overpriced, so he decided not to even try to buy. Indeed, PetroChina shares nearly tripled that first day, pegging...
Granted, many Chinese people do not have the luxury of seeing this side of China. This summer, Shanghai had record high temperatures, and any resident would tell you that clear days are rare. But just as we would not want America to be defined by the state of its biggest, dirtiest cities, we should not judge China’s environmental practices by its worst examples...