Word: expansionism
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Dates: during 2000-2009
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Surprisingly, it is provincial cities like Xi'an that are leading this transition. In China's heartland, you won't find many factories churning out cheap toys or clothing for overseas markets, the kind of industrial activity that underpinned China's economic miracle and made Shanghai and Shenzhen wealthy. Total...
This kind of exuberant consumer behavior helps to explain why China has powered through the global recession with only limited damage. Local officials expect Xi'an's gross domestic product to surge 13.5% in 2009, far faster than the central government's 8% target for the national economy. Even more...
That's not only because of government largesse. As wages and land prices rise precipitously in China's coastal cities, Chinese companies based there are investing in operations in less-developed Xi'an to capitalize on its lower costs and tap a cheaper labor market. About 70% of Xi'an...
Chicken Parts and Tires But the same Americans who speak darkly of the China effect routinely seek out the least expensive cell phones, televisions and clothing and demand that companies whose stocks they invest in show double-digit profit growth. Procter & Gamble needs the supercharged gains of its Oil of...
Some of the sales bump is likely resulting from an expansion of the Black Friday sales hours. Many brick-and-mortar retailers opened their doors as early as midnight - rather than the traditional 6 a.m. shotgun start, and some offered their door-crasher deals online even earlier - on Thanksgiving day...