Word: yangness
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...days before the Sept. 2000 grand opening of a replica of Amsterdam's railway station at his Holland Village property development in the Chinese rust-belt city of Shenyang, agri-business tycoon Yang Bin decided he wanted the large greenhouses nearby filled with flora so visitors would get the impression the project was on track. Yang's farm experts protested there was no way to grow the requested tulip and orchid plants that quickly. Undeterred, Yang went out and bought them from local farmers, replanted them in the greenhouses and passed them off as his own. "If you work...
...Yang's turn to be ambushed on Oct. 4, when the 39-year-old entrepreneur?who recently was chosen by North Korean dictator Kim Jong Il to run a special free-trade zone on the Chinese border?was escorted from his Shenyang home by police. Chinese authorities aren't saying why he is being held under "house supervision" or what crimes they think were committed. "Yang Bin and his enterprises in China are suspected of being involved in various illegal activities in China," Zhang Qiyue, China's foreign ministry spokeswoman, said last week without elaboration. Speculation ranges from tax evasion...
...there's one aspect of Yang's misfortune that is not surprising at all: a Mainland private company has been embroiled in allegations of monkey business once again. Entrepreneurs like Yang?bold, flamboyant and aggressive?are heralded as the face of China's capitalist future, and fledgling private companies are viewed hopefully as a wellspring of growth and an engine of job creation to replace the country's decrepit state-owned enterprises. But they are also the product of a rapidly changing economy in which state control left over from the days of hard-line communism mingles with freewheeling capitalism...
...Given Yang's newfound notoriety, he fits the bill. North Korean dictator Kim Jong Il selected the 39-year-old entrepreneur to spearhead an experiment in social and economic engineering in the town of Sinuiju on the border with China. Yang was to be Chief Executive of a free-trade zone with its own laws and elections. The project is meant to lure industry to the destitute communist country, helping it join the modern world and possibly get off U.S. President George W. Bush's hit list. China's close ties to North Korea make Yang's predicament...
...Questions are also swirling around Yang's Euro-Asia Agricultural (Holdings), his flagship company, which is listed on the Hong Kong stock exchange. Trading in its shares was halted Sept. 30 at the request of the company and it later came to light that Yang had raised money by selling nearly 82 million shares last month for a few cents each, dropping his stake to 49%. Lee Jong-suk, a China watcher at Sejong Institute, a Seoul think tank, says Beijing may have been forced to act quickly before Yang's untidy affairs made him an international diplomatic problem...