Word: shanghais
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...Faced with this situation, it seems absurd that the U.S. military plans to scale back in any way. There are 28,500 American troops in Korea right now, and that is a good price for détente on the peninsula. The peace and stability of Seoul, Tokyo, and Shanghai are of great interest to the United States. To this end, the present deployment is a cheaper solution than attempting North Korean regime change, and more effective than placing sanctions on a government that will let its people starve rather than cooperate...
...with surprising speed, fear in Asia has swung back to greed as the region shows signs of recovery - and some economists are warning that asset-price bubbles that had been popped by the global recession may be reinflating. Property and stock prices are soaring in many parts of Asia: Shanghai's main stock-market index has surged about 90% this year, while Indonesian stocks are up 70%. By comparison, the S&P 500 is up 11%. (See the World Economic Forum...
...money is now sloshing around. It's winding up in stocks and real estate, pushing prices up too far and too fast for the underlying economic fundamentals. "We're not in a full-blown bubble yet," says David Cui, China strategist for Banc of America Securities - Merrill Lynch in Shanghai. "But the risk is there. There is such a sharp turnaround, especially since it is largely fueled by easy money...
...Exuberance can be contagious. Shares of China State Construction Engineering, the country's largest home developer, jumped 56% on July 29, the day of their debut on the Shanghai stock exchange. In Singapore, property prices are rising despite the city-state's sharp recession. The resale index for Housing and Development Board apartments, a key indicator of local property-market conditions, rose an annualized 5% in the second quarter to an all-time high. In Hong Kong, a city famous for its property booms and busts, prices have rebounded from last year's slump and are on course to retake...
...With reporting by Bill Powell / Shanghai...