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Brown's victory - some called it "the Scott heard round the world" - on the eve of the first anniversary of Barack Obama's Inauguration was an ominous sign for Democrats for the midterm elections ahead and a potentially crippling blow to Obama's entire agenda. Brown ran explicitly on a...
The Chinese economy expanded 8.7% last year, the National Bureau of Statistics announced on Thursday, an impressive figure that will offer some relief to Beijing policymakers who declared that maintaining stable growth was critical to ensuring social stability in the face of the global economic downturn. Thanks to expansive stimulus...
For many urban middle-class Chinese, dreams of owning property that came into focus in the past decade have faded. Chen, 28, makes about $22,000 a year. By combining that with his wife's $13,000 salary as an office administrator, the couple estimated that they could afford a...
Home sales last year increased in value 80% over 2008, according to the National Bureau of Statistics. That pace has slowed in recent weeks as buyers like Chen are now looking for government intervention. In late December, Premier Wen Jiabao promised action to help keep housing prices in check. "As...
Some property developers and economists have called China's housing market a bubble. Whether the government can gently deflate it is an open question. Beijing's past efforts to control housing prices have been unsuccessful, says Shanghai-based economist Andy Xie. One flaw is that local governments rely on land...