Word: shanghaiing
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...hunt for buyout candidates overseas. "It's definitely a good time to buy Hummer," says Liu Chang of Sinomind Management Consulting in Beijing. "GM wouldn't sell it if it was in better shape." But China's previous results from acquisitions of foreign automakers have been poor. In 2004, Shanghai Automotive Industry Corp. paid $500 million for a 49% stake in South Korea's Ssangyong Motors, which declared bankruptcy in January...
While the stimulus package has risks, it also affords China a chance to rebalance the country's growing wealth. One by-product of China's prolonged expansion is that coastal regions - marked by boomtowns such as Shanghai, Guangzhou, Xiamen and Tianjin as well as their hinterlands - have grown much faster than the country's interior provinces, which have always been poorer. For years the central government has tried various policies to lift western China, without much result. The infrastructure push gives Beijing another chance to address divisive and potentially explosive wealth gaps that have grown between east and west, rich...
...things to do in Shanghai...
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...both capitals about the other has often been pretty scathing." Even during the Cold War, Kim Il Sung, Kim Jong Il's father, would routinely play the Soviet Union and China off each other. In 2002, Kim Jong Il made a well-publicized trip to China, and in Shanghai - the country's showcase of development - the Dear Leader famously said it was clear that Chinese economic reform had "worked." Less well known is that on the same trip, Kim said that North Korea's unique characteristics were such that economic reform would not work there. And, indeed, it's never...