Word: assets
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...Underneath the bravado, however, there is a growing fear that perhaps FORTUNE was prescient. Hong Kong is having trouble competing, not only with a rising China, but against a world built on brains, not asset trading. As the mainland maintains its rapid growth rates, Hong Kong is barely above water after three years of stagnation. To the question "Is Hong Kong dying?" a prominent barrister recently offered this reply, made only half in jest: "It is already dead...
...Corporations are hiring in the mainland, and firing in Hong Kong. Premier Zhu Rongji, a former Shanghai mayor, allowed the mainland property bubble to burst in the mid-'90s without intervention. Now, Shanghai and other Chinese cities are bursting with new businesses in part because both wages and asset prices are but a fraction of Hong Kong...
...appraisal process dominated by mortgage brokers working on commission instead of banks (who actually loan the money) may be inflating home prices beyond their worth. In Barron?s, Alan Abelson devoted his weekly column to the possibility of "a jerrybuilt boom," and called the housing frenzy "the last great asset bubble" - one that may be about to pop. And TIME?s own Dan Kadlec writes this week that housing?s traditional year-long lag behind a falling stock market is about to kick...
...precept that home is where the opportunity is, she had bought a house just outside a reliably Democratic district. So when she decided to run for Congress, she found herself up against a nearly unbeatable Republican Congresswoman. Kathleen seemed unsure how--or whether--to capitalize on her biggest political asset: her maiden name. The name explained why national reporters were trailing her quixotic campaign, but she didn't use it on her bumper stickers and declared that she was running "as my own person...
...ignorance," says Gary Shugg, who helped orchestrate the financing deal with Jeppesen that went sour. The sapphire mine is shut and in the hands of the Lao government, Jeppesen and Bruns remain in hiding and investors hold stock in a company that has no access to its only asset. The Danes' three children, living in Brisbane with their grandparents, can't understand why their mom and dad are in prison. Also bewildered are the locals who used to work in the mines. "There are still many sapphires there," says one worker as he walks in the rain not far from...