Word: shanghais
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...Chinese have had great success in selling low-cost automaking tools worldwide, says Jay Baron, president of the Center for Automotive Research; marketing assembled cars is the next logical step. A common Chinese auto strategy has been to join forces with foreign firms to develop the home market. The Shanghai Automotive Industry Corp. has partnered with GM, and DaimlerChrysler AG is raising its stake in a venture with Beijing Automotive Industry Corp. to 50%, up from 42%. The converse is happening as Chinese makers aim for the 16.9 million-- vehicle U.S. market. The first player may be Chery, based...
...Hong Kong property bubble of the 1990s, euphoria over Chinese red chips in 1996-97 and the mad rise of Thai banking stocks before the carnage of the 1997-98 Asian financial crisis. Today, as always, there are pockets of mania that could end in mayhem, from the Shanghai property boom to delirious foreign investment in overheated Indian midcap stocks...
...closing spot in the Venice Film Festival before Chan had finished post-production. (The movie will be released in December.) Indie icon Takeshi Kaneshiro (House of Flying Daggers), pop idol Jacky Cheung (Ashes of Time) and luminous mainlander Zhou Xun (The Little Chinese Seamstress) star as actors in contemporary Shanghai filming a musical set in the decadent 1930s. A love triangle ensues, giving the stars a chance to work out their feelings in song?and dance, choreographed by India's Farah Khan. ("Chinese people don't dance," Chan explains. "I had to go to Bollywood.") In a Christmas season choked...
...Over Their Heads TIME's notebook item on the torrential rains and flooding in Bombay [Aug. 8] realistically portrayed the woeful state that India finds itself in as it tries to compete with China. Politicians in India are constantly asserting their resolve to put Bombay on a par with Shanghai, without even giving a thought to reality. The fact that a day's rainfall can paralyze the economic hub of India speaks volumes about the complete lack of basic infrastructure and disaster-management techniques in this country. The government machinery was totally overwhelmed by the floods and started providing relief...
...nine times what Japan consumes. Analysts now worry that the economy is finally beginning to show the strain. "We're particularly concerned that rising energy costs will amplify the existing squeeze on corporate profit margins in China," says Ben Simpfendorfer, an economist at JPMorgan Chase in Hong Kong. Indeed, Shanghai Petrochemical, a unit of the state-owned oil company Sinopec, warned last week that profits in the second half of this year will decline significantly. If other companies feel a similar pinch, as Simpfendorfer fears, that could crimp one of the main drivers of China's current economic boom?spending...