Word: worldlys
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...Germany lags far behind other Western countries when it comes to gender equality in the workplace and promoting women to top positions. In a survey of 600 global companies conducted by the World Economic Forum earlier this month, Germany ranked 14th out of 20 countries in terms of the percentage of women employed. The study found that only 33% of employees at the German companies surveyed are women, compared with 52% at the American companies in the poll and 48% at the Spanish firms. Moreover, only 6% of chief executives in Germany are women, compared with 12% in Norway...
...Last year, total fixed-asset investment accounted for more than 90% of China's overall growth; residential and commercial real estate investment comprised nearly a quarter of that. Toss in the not insignificant fact that it was a huge real estate bust in the U.S. that dumped the world into recession in the first place, and many analysts are now beginning to fear the worst. "China's property market," says independent Shanghai economist Andy Xie, "is a massive bubble." (See TIME's photo-essay "The Making of Modern China...
...young couple who spend two-thirds of their monthly income keeping up the mortgage on a tiny Shanghai apartment. Their tale is all too real. As economist Xie points out, residential prices in China relative to per capita income are far and away the highest in the world. The housing price-to-income ratio in urban China is over 20, which means it takes the average citizen's total wages for 20 years to buy an average dwelling. (By comparison, the highest housing affordability ratio for a U.S. city - Honolulu...
...Read "Hong Kong: The World's Most Expensive Real Estate...
...convinced. They point to a couple of factors that make China's situation different from that of the U.S. The first is that the real estate sector is nowhere near as reliant on debt financing as it is in the U.S. and much of the rest of the developed world. Consider the complex in which Yang, the cabbie, bought one of his three Shanghai apartments. The developer, Shanghai Forte Land, presold all the units before spending a cent on construction. In China's residential market, financing development with customers' cash, not loans, is standard operating procedure...