Word: urbane
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...triple in value, the country's bull market is stumbling. Indexes in Shanghai and Shenzhen are both down about 15% from their October peaks, and recent moves by the government to cool China's runaway economic growth appear to have deflated the mania for stock investing that has gripped urban Chinese, from maids who quit their jobs to devote their time to trading stocks, to pensioners who plunked their life savings into the markets. Almost daily, myths that were pervasive among neophyte Chinese investors - that what happens to the U.S. economy doesn't matter to China, that the government...
...economy. According to a recent study by Merrill Lynch, China's investor class - an estimated 150 million people - has sunk 22% of its capital into the stock market, compared with 8% two years ago. Shanghai-based economist Andy Xie calculates that if the stock market drops by half, urban households will lose about 20% of their overall net worth, putting a dent in consumer spending. Overall, economists figure that a 50% decline in equity values might lop 1-1.5% off China's double-digit GDP-growth rate...
...wearing muddy boots and worn moleskin pants to saunter past the formally dressed footmen at London's Fortnum & Mason, the famous Piccadilly food emporium that's a favorite of the British royals. But Steve Benbow, 38, is not your average fancy-food consumer. He is one of many urban apiarists, or beekeepers, in the British capital, and although he usually enters Fortnum's by the staff door and heads to the roof, where he oversees four beehives, some days he can't resist stopping on the grand ground floor for the thrill of seeing his name...
...While urban beekeeping is buzzing in Europe and the U.S.--San Francisco is full of busy bees, and Chicago's green-roof program provides ideal space for hives--it is illegal in Manhattan, where honeybees fall under an ordinance that forbids keeping animals that are "wild, ferocious, fierce, dangerous or naturally inclined to do harm." The solution, it seems, is to put hives up high, where they will be undetected and give the bees easy access to rooftop gardens. David Graves, 57, who has hives on the Upper West Side, in Harlem and on a 12-story hotel...
Honeypot. Where to find the best urban honey in three cities...