A world-record price for an apartment in Hong Kong highlights rising demand from wealthy mainland Chinese, while a 26% surge in prices since January raises fears of a bubble. This boom has prompted calls for restrictions on non-Hong Kong residents buying residential housing, and for the government to release its vice-like grip on land.
China's stimulus-driven infrastructure development sector offers golden opportunities to foreign companies that have special know-how and technological expertise. Swiss companies, for instance, are venturing into Chinese railways, building and construction projects that have mushroomed due to the state stimulus package.
For all its pride as an industrial giant and an economic powerhouse, China still lacks the diligence and ethics that are the hallmarks of a high quality labor force and competent service delivery. A Chinese expat in the US recalls his horror stories about consumer dissatisfaction as a result of callous Chinese business practices.
A change in status for Pakistan's Northern Areas, now known as Gilgit Baltistan, reflects a desire to improve security for China's growing financial stakes in the strategic region.
Indian airlines, burdened by high fuel taxes that are helping to drive up losses, called off a threat to halt services after the government showed "willingness to enter into dialogue". But are some running an essentially free service merely to collect taxes - or is there other mischief afoot?
"You have what we don't have, and we have plenty of what you don't have." The secretary general of the Association of Southeast Asian Nations failed to mention the potential losers in his summary of the region's oil-for-food deals with arid but affluent Gulf countries - small farmers being thrown off their land and Asia's own often hungry population.
The prairies of North America will be planted next year with genetically engineered corn from Monsanto and Dow AgroSciences that will carry an unprecedented eight novel genes. Yet critics say the potential health and environmental risks have not been independently investigated, while US regulations do not require any such assessments.
The Maharaja of Air India is still bent at the waist, not in a bow of courtesy but in shame at having to beg and borrow to keep going. Behind the carrier's request for a US$2 billion bailout lies a dismal story of mismanagement and wasteful purchases.
As North Korea demands excessive salary and rent hikes, companies flee and political tensions worsen, the one-time jewel in the crown of inter-Korean trade, the Kaesong Industrial Complex, seems doomed. Though the complex turned a healthy profit for Pyongyang, it has been decided to put a lid on "cancerous capitalism".
Chinese property is a perfect example of what happens when irresponsible policies meet indomitable market forces. The u-turn - within a year - from efforts to cool property prices to measures to prop up the sector highlights the consequences of a pegged exchange rate maintained by a government that claims to know what's best for the country, with all evidence to the contrary.
Withdrawals and liquidation of hedge-fund investments are testing the industry's resilience, while public trust in the institutions has been severely eroded, leading to calls for government regulations. The better path is self-regulation and a greater focus on ethics.
- Stanley Goldstein and Frank Plantan (Dec 18, '08)
The Chinese government, seeking to boost the economy as exports tumble and unemployment threatens to stir unrest, has underlined its commitment to creating jobs with measures to pull the housing market out of crisis.
You may save an unlimited number of customized pages. Your pages will appear as menu items when you put your cursor on MY PAGES in the menu bar on the left side of all pages. Just click on the page you want.
Make your selections in the panels on the left, and delete unwanted selections in the panel below.