Money and Finance
BOSS RAIL: The disaster that exposed the underside of the boom. (China) – By Evan Osnos
Evan Osnos was also on Charlie Rose discussing this article and other China topics HERE.
On the morning of July 23, 2011, passengers hurried across Beijing South Station at the final call to board bullet train D301, heading south on the world’s largest, fastest, and newest high-speed railway, the Harmony Express. It was bound for Fuzhou, fourteen hundred miles away.
Beijing South Station is shaped like a flying saucer, its silvery vaulted ceiling illuminated by skylights. It contains as much steel as the Empire State Building and can handle two hundred and forty million people a year, thirty per cent more than New York’s Penn Station, the busiest stop in America. When Beijing South opened, in 2008, it was the largest station in Asia; then Shanghai stole the crown. In all, some three hundred new stations have been built or revitalized by China’s Railway Ministry, which has nearly as many employees as the civilian workforce of the United States government.
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Links
Merryn Somerset Webb interviews Hugh Hendry (Part 2) (LINK) John Malone Talks At Liberty Investor Conference [VIDEOS] (LINK) Evan Osnos wins the non-fiction National Book Award for his book Age of Ambition: Chasing Fortune, Truth, and Faith in the...
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Evan Osnos On Charlie Rose
Tyler Cowen wrotethis about Osnos’ new book: “This is one of the best books on contemporary China, maybe the best.” Link to: Evan Osnos on Charlie Rose ……………. Related book: Age of Ambition: Chasing Fortune, Truth, and Faith in the New...
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The God Of Gamblers: Why Las Vegas Is Moving To Macau - By Evan Osnos
Found via The Big Picture. In the late summer of 2007, a fifty-year-old former barber named Siu Yun Ping began making regular visits from his village, in Hong Kong, to the city of Macau, the only Chinese territory where it is legal to gamble in a casino....
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Corruption Threatens China’s Future – By Edward Chancellor
Widespread corruption at the local government level remains a threat to China’s economic development. If stories are to be believed, Chongqing’s disgraced party boss Bo Xilai even used an anti-corruption drive to put the squeeze on local business...
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Building Boom In China Stirs Fears Of Debt Overload
WUHAN, China — In the seven years it will take New York City to build a two-mile leg of its long-awaited Second Avenue subway line, this city of nine million people in central China plans to complete an entirely new subway system, with nearly 140 miles...
Money and Finance