Word: steeles
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...STEEL...
...recipe for glut that could reverberate around the globe, and not just in cars. From microwaves to T shirts to sheet steel, China is building up excess capacity at a breakneck pace. The country's economy grew 9.1% last year and attracted $53 billion in foreign investment, second only to the U.S. economy. The emerging middle class pushed retail sales up 9% in 2003, but industrial output shot up 17%. Economists warn of a crash waiting to happen: if too many factories make too many goods chasing too few buyers, the results are likely to be deflation, widespread business failures...
Player drags the stainless steel coffee machine into the kitchen. Some people will wake up soon for work, so coffee-making starts...
...woman architect who has just one completed project to her name: the new Manhattan showroom of the Swiss furniture company Vitra, which has become a showcase for Roy too. It's a suavely configured space where display platforms ribbon around corners or morph into mahogany staircases that have embedded steel treads...
...While all countries engage in trade practices that aren't always legit (example: U.S. steel tariffs, which were lifted in December after 20 months), China is not an egregious trade cheat. China imposed tariffs on some steel imports from five countries last month, but is more open to foreign investment and imports than Japan was during its boom years. Few countries have embraced globalization at greater risk. The shutdown of inefficient state-owned plants has cost China tens of millions of jobs, with more to go. On a more pragmatic level, the U.S. needs China's cooperation on everything from...