Results tagged “bubble”

How should a government combat runaway inflation? Most sensible economists would suggest a series of tightening monetary and fiscal policies to realign the aggregate supply demand picture. Well, China has raised interest rate four times this year, twice last month, to no avail. Prices, at both the producer and retail levels continue to bubble up, as do asset prices, such as the real estate and the equity market.

The People's Congress is expected to pass an Anti-Trust legislation today, the first of its kind in China, and one, 13 years in the making. For those that are law buffs, Fortune has a nice article here, with some in-depth analysis. We, not exactly students of jurisprudence, have only one question in mind. Will the powers that be stop China Mobile from charging us extortionist rates? Where are our free "night and weekend" minutes? Where are our free "in network calling"? Ok, that's more like three questions.

Nevertheless, according to Reuters Estimates:

ICBC’s share price on Monday valued it at 28 times analysts’ forecasts for its earnings per share in 2007, far above 11 times for Citigroup and an average of 16 times for major global banks.

Image from China Daily.

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We're sure that you're all sick and tired of hearing about the Chinese stock market, but since we're struggling bloggers, we get vicarious thrills by talking about things that people with money do. Stocks in China took a slight tumble on Friday, amid more concerns that stock capital gains taxes were in the works. Everyone is still debating whether or not the stock market is a bubble or not, but some analysts say that whatever market corrections come won't have a hugely deleterious effect on the economy either in China or abroad.

Photo by Shanghai Sky taken from the Shanghaiist Contribute page.

We stumbled upon what must be one of Shanghai's cheapest juice bars last night. It's called Super Sonic Bar and it's located in the basement of the Pacific Shopping Center (tai ping yang bai huo or 太平洋百货) on Huaihai Lu, easily accessible from the Huangpi Nan Lu metro stop on Line No. 1. They have lots to choose from — including non juice items like bubble tea — and the most expensive thing on the menu in 15 kuai. We had an OJ for that price in a decent sized cup (see photo) and it was good. You can watch the juices being made, too, so you know they aren't throwing in anything strange. We are regulars at the Huangpi Lu station and we foresee ourselves becoming regulars at Super Sonic, too — not only because summer is upon us, but because we like to buy juice from shops named after J.J. Fad songs.

ChinaTechNews.com directed us to this press release about a publicly traded company named Admax Resources, Inc., and why it is changing its name to China YouTV Corp. The reason is simple, really: Admax has decided to follow the well worn path many companies take — the one where they go from mining minerals in Canada to online video sharing in China.

Are you in the Chinese stock market? We're guessing the answer is no for most of you — by law, only Chinese nationals are allowed to purchase A Shares traded on the Shanghai and Shenzhen exchanges. Well, sucks to be you (and us). We're missing out on a get-rich-quick opportunity of a lifetime, as millions of Chinese are swept up in stock trading mania. The International Herald Tribune reports:

Texas is thawing, the Northeast is freezing, and a sort of natural order seems almost restored to the Ist-A-Verse. Almost.

It's good to know the good members of the Shanghai police force are rolling up their sleeves and hitting the mean streets in an effort to protect us from all the ills of modern China ... like shops that sell bubble tea. From the Associated Press:

And at least one person (a former editor of the magazine) hates it:

Moon River looks like a diner. It feels like a diner. And, most importantly, it tastes like a diner. The people behind this place got the details right -- the black and white tile floors, the red swivel-top stools and even the colorful curly straws. And we love the huge retro neon sign out front -- it's perfect. They've even got a jukebox (the same one they had out in Gubei) but it no longer works, and -- we just learned this -- did you know jukeboxes are technically illegal in China? An old Cultural Revolution law that never came off the books, we were told.

Shanghaiist Reads returns—to the delight of some, to the dismay of others—with a blow-by-blow markup of the Oct. 20, 2006 issue of SH. Get your highlighters out, kiddies:

Sometimes you need to clean yourself up, get serious, and move in with daddie for a few months before you head to Latin America for a new gig. The District bid's Jenna Bush adios. D.C.-based television shows have an elderly audience and DCist has some suggestions to fix that. They're also throwing Butterstick the panda bear a birthday bash.

If you don't think the "everyone born in a certain year is the same" philosophy is a crock of shit and you live your life by the rules of readings of the stars done by people who don't have real jobs, then read on.

Photo of the JW Marriott in Shanghai.

The economy expanded by 12 percent per year since 1990, house prices rose to 55 times the level of average annual disposable salaries, and more skyscrapers were built in Shanghai than in New York. A 100-square-metre new apartment costs an average of 914,000 yuan ($112,800 US), according to the Shanghai Real Estate Exchange.

Shanghai's building boom/bubble is not news for anyone who has read a newspaper or counted the contruction cranes protruding from the city's already formidable skyline over the past couple years. But this New York Times story puts the growth into some kind of perspective:

Shanghaiist staff (all six officials ones plus numerous groupies) are unabashed devotees of the Super Voice Girls, so imagine our pleasure when we found out that Li Yuchun, the androgynous wonder from Sichuan and final winner of the contest that sent tingles and shivers down the spine of people throughout China, became a cover girl. Sort of -- she made the cover of a Special Issue of TIME magazine called "Asia's Heroes".