Word: shanghaiing
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...long-running boom in the construction of new apartments and houses across urban China ended abruptly last year and is now unwinding. Deflation is evident in Beijing and Shanghai in particular, where real estate developers and brokers report prices will likely be down 15% to 20% this year. Prices in the once booming city of Shenzhen are down more than 18% from year-ago levels. Nationwide, according to a recent forecast by economists at the Chinese Academy of Social Sciences, housing prices in China may decline 10% to 15% this year, as the overall economy struggles amidst the global financial...
...prospect now is that the deflation evident in the housing market may intensify. As Zheng Jia, 35, who sells medical equipment in Shanghai, said after a weekend looking at villas in suburban Shanghai: "Why buy now, when prices may be lower a month from...
...things to do in Shanghai...
...many attractions in this southwestern Chinese city, the river is its greatest. The view from the bank stretches out over not the mephitic, litter-strewn depths that often characterize China's urban rivers, but water whose clarity is as arresting as its chilliness. (See pictures of Shanghai...
...this year, the Shanghai Composite, the best measurement of stock values in China, is up over 20%. Those making the argument that the world's most populous nation will have a strong year can point to that number as an indication of optimism. The trouble with the theory is that when the Asian nation's economy was at its most robust, in 2007 and early 2008, the same index of China's stock fell from a level of 6,000 to 1,700 where it bottomed five months ago. This must be what the head of Pimco meant when...