Word: shanghais
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...future is most palpable looking out at Mumbai or Shanghai from a high floor. Here is not the septic progress of Silicon Valley or the paper profits of Greenwich’s risk arbitrageurs. Here is the stuff that would be instantly recognizable to the industrialists who built America: the hustle of men advancing fast and the delight of knowing for sure that the world is getting better, quicker. As the savings-investment cycles reach their fever pitch in South and East Asia, these societies will undoubtedly spend their trillions of reserves on infrastructure, unlocking once...
...from a variety of suppliers far into the future - and it has the money to pay for them. Half of the country's massive national savings of $2 trillion is in corporate coffers. "These [Chinese] companies know this slump, while deep, will not last forever," says Xu Minle, a Shanghai-based analyst at BOC International. "China is now making strategic investments overseas at a comparatively lower cost...
...things to do in Shanghai...
...Japan's Nikkei fell to a near 26-year low before rebounding and closing down just 0.7% on Tuesday. Hong Kong's Hang Seng retreated 2.3% and Shanghai's main index dropped 1.1%. Seoul's KOSPI, however, finished up 0.7%, with Taiwan's index also slightly higher. (See pictures of the global financial crisis...
...things to do in Shanghai...