Word: techs
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...really have to move faster than before, and take the right direction." His vision?and his sense of urgency?is shared by city officials, who have launched an effort to move the local economy to a higher plane. The government is promising tax breaks and land concessions to tech firms, and has said it expects to invest $1.25 billion over the next five years to support high-tech start-ups and research projects. "Shenzhen is at an important strategic turning point," the city government said in a policy statement issued earlier this year. "We must not waste time and opportunities...
...since 2000 to more than $4,000 last year. That's twice the average wage in other major cities like Chongqing. Higher costs are undercutting the profit margins of labor-intensive industries that have been the backbone of Shenzhen's economy. Greg Gong, CEO of Taiwan-based Further Tech, opened a factory in Shenzhen three years ago to make consumer-electronics gear, but he's already getting squeezed. Gong says his costs are rising by 10% annually, driven mainly by higher wages, and tough competition prevents him from increasing the price of his products. Gong says falling component costs...
...Plenty of factory owners feel less constrained. Garment makers and other low-tech manufacturers are increasingly shifting production from Shenzhen to cheaper locales, often the poor provinces of western China or, on occasion, other Asian countries like Indonesia and Vietnam. When companies moved into Shenzhen, "they never thought they'd have to leave a few years later," says Ruby Zhu, senior China economist for the Hong Kong General Chamber of Commerce...
...power suit named HAL (for Hybrid Assistive Limb, not to be confused with the homicidal HAL 9000 computer in 2001). Starting at 3,800 m, he hitched a ride up the mountain on the back of his friend, climber Takeshi Matsumoto, who wore the computerized exoskeleton built by Japanese tech firm Cyberdyne (not to be confused with the fictional Cyberdyne Systems, which created the killer robots of the Terminator movies). The suit mimics a user's motions by detecting the bioelectrical nerve signals that control muscles, and its servo-motors can nearly double a person's strength. After earning...
...global appetite for the produce of the Mediterranean region? Few events so eloquently capture the tussle between international commerce and the locals over the Mediterranean's resources as the annual summer hunt for bluefin tuna. Much of the Med's tuna is no longer caught by traditional means. High-tech "tuna ranches" began appearing in the Med in the late '90s and have proliferated over the past decade - fish farms consisting of circular floating cages about 50 m in diameter and 50 m deep, set up 2-3 km from shore. The ranches are most often controlled not by small...