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...shaped the psyche of generations of Chinese, leading to a national savings account of $2 trillion at the end of 2006. But it isn't quite fair to suggest that overly frugal Chinese consumers are largely responsible for trade deficits. Households only account for half of China's total savings. High levels of government and business savings also contribute. China's central bank, for example, holds more than $1 trillion in foreign currencies and securities. Moreover, the widely held view of China as a nation of supersavers appears to be increasingly out of touch with reality-a shift that...
...Shanghai's architects turned their backs on the pompous colonial edifices of yesteryear and embraced the modern sophistication of Art Deco. It was a prolific but short-lived phenomenon. When Mao Zedong's communists seized control of the country in 1949, the clampdown on Shanghai's foreign influences was total, and a period of isolationism began...
...master in the post-1945 era of independence, Ghana became the symbol of a land throwing off its shackles, the first breeze in what British Prime Minister Harold Macmillan would later dub "the wind of change." "The independence of Ghana is meaningless unless it is linked up with the total liberation of the African continent," said Nkrumah that night...
Industry experts estimate that the new luxe carriers--EOS, Silverjet and MAXjet--may have as much as 20% of the premium traffic on the $1.75 billion New York--London route, known as NYLON in the business. The roughly 3,600 seats in premium cabins, about 30% of the total, represent more than $1.25 billion, or 70%, of the available revenue. And 100% of the profit...
...company suspended that service and says it will resume in May. Despite talk of mechanical problems and low load factors, CEO William Stockbridge, who abruptly took over after Gary Rogliano stepped down just a year after launch, says MAXjet will soon add two jets to its fleet, making a total of five, and offer another destination in the summer. Says analyst Lobbenberg: "Its price proposition is perfect, but they need to sharpen up the operational execution...