Word: shen
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Chen and his lawyer, Shen-Sin Lu, responded by showing the Commission a stack of fake IDs that Chen had collected, saying that he asks everyone buying alcohol for two or three IDs. He also presented the Commission with a petition supporting his case, which he said was signed by over 700 people...
DIED. SHIING-SHEN CHERN, 93, mathematician whose "new geometry" theories on how the curvature of a surface can help determine an object's shape influenced fields from theoretical physics to computer graphics; in Tianjin, China. As a teacher, Chern was also influential--so much so that Robert Uomini, a former student of his at the University of California, Berkeley, set up a chair for him at the school with funds from the $22 million Uomini won in the California state lottery...
...DIED. SHIING-SHEN CHERN, 93, mathematician whose "new geometry" theories on how the curvature of a surface can help determine an object's shape influenced fields from theoretical physics to computer graphics; in Tianjin, China. As a teacher, Chern was also influential?so much so that Robert Uomini, a former student of his at the University of California, Berkeley, set up a chair for him at the school with funds from the $22 million Uomini won in the California state lottery...
...difficult to ascertain how widespread shadow banking is throughout China. Beijing University economist Shen Minggao estimates that two-thirds of all financial activity in Zhejiang takes place outside the formal banking system. Local regulators do nothing to discourage informal lending because it funnels capital to vital, fast-growing businesses. But national economic conditions could now make it more difficult to look the other way. For one thing, China's inflation rate has crept above 5% while interest on savings deposits remains about 2%. In other words, Chinese lose money when they park cash in legitimate banks. It now appears that...
...whole, the government has turned a benevolent eye toward illicit finance. Cracking down would be "like taking seed grain away from farmers," says Beijing University's Shen. Gray-market lending is even providing inspiration for a new generation of would-be private bankers. A group of scholars at Zhejiang's Communist Party School, a training ground for cadres, are proposing to "establish legal private banks" along the lines of underground institutions, according to one of the professors who helped draft the proposal...