Word: shanghais
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...threads his taxicab every day through the epic traffic jams in and around Shanghai, jabbering on his cell phone and muttering under his breath, Yang Jinyu seems an unlikely real estate mogul. But when the government asked him to move out of his central Shanghai home so that the land it was on could be sold for redevelopment, he took the compensation payment and bought an apartment on Shanghai's outskirts. Eight years later, after cleverly parlaying that first asset, the cabbie owns three apartments in the city and has his eyes on something bigger: a lovely five-bedroom, riverfront...
...bubbles are built. And these days not much - aside from the possibility of a double-dip recession in the U.S. - has more economists, international investors, hedge-fund managers and bankers tearing their hair out than the deceptively simple question, Is China's property market a bubble? (See pictures of Shanghai...
This year's season may open next week, but it won't reach Europe until mid-May, passing first through Bahrain, Melbourne, Kuala Lumpur and Shanghai. Only eight of this season's 19 races are in Europe, and the proportion will likely continue to shrink. England's legendary Silverstone track almost lost its spot on the schedule altogether. France no longer has a race...
...blockbuster.) But the ending of Hwang's reworking is all his own. As are the livelier scenes, in other stories, of a jazzy, prewar North Korea, full of concert pianists and painters and their nude models. It's hard to believe that Pyongyang was once a glittery Little Shanghai of waltzing, snaggletoothed flappers and buxom barmaids pouring shots of absinthe. But geonbae to the day this particular fiction of Hwang's is translated back into reality...
...normal for a large nation climbing out of decades of poverty. "Although China now has a growing military demand, it has always upheld the principle of peaceful development. The double-digit increases in the past should be interpreted as compensational growth," says Zhao Zongjiu, deputy secretary-in-general at Shanghai Institute for International Strategic Studies, a government-backed think tank. "I predict that, given the current policy environment, the growth rate of military expenses will remain roughly on the same level as China's GDP growth in the next few years." (See pictures of China's infrastructure boom...