Word: kong
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Huang Jianhua's given name means "building China," but the sports promoter, who goes by the English name Ken, may be more interested in building U.S. basketball. According to basketball sources, the Chinese-born Huang is brokering a deal between the Cleveland Cavaliers and a Hong Kong real estate and telecommunications conglomerate called New World Development to buy up to a 15% minority stake in the National Basketball Association (NBA) franchise and its sports arena. The Cavs, who are currently battling the Orlando Magic for the Eastern Conference title, boast this season's most valuable player, LeBron James...
...Ganis and Huang helped Rockets owner Leslie Alexander buy a stake in Chinese sportswear firm Anta for its successful initial public offering two years ago. But that comprador work is minor compared with the Cavs deal, which would rank as the biggest international sporting investment by a Chinese-Hong Kong consortium if it goes through. "It makes sense for the Chinese to look for business in the States, because that's where the investment opportunities are," says Terry Rhoads, managing director of Zou Marketing, a sports-branding consultancy based in Shanghai. "It'll be interesting to see what happens, because...
...turning it into one of Asia's most dangerous military flash points. Contact between them has been grossly restricted. A year ago, Taiwan residents couldn't take a scheduled flight or mail a letter directly to the mainland, and Taiwan-made goods had to be trans-shipped through Hong Kong and Japan...
...Movie Festival. At a hallowed venue where minimalist art films usually dominate, this year sensation often ran rampant. Blood spurted from necks, noses, guts and, in one memorable gross-out moment, a penis. Extreme characters spanned the globe: a vampire-priest in Seoul, a French crime lord in Hong Kong and an American drug-dealer in Tokyo. Sam Raimi brought a horror movie about a gypsy curse, and Quentin Tarantino enlisted in a fantasy World War II. Gay lovers disported in China, and Ang Lee found psychedelic bliss in Woodstock, 1969. Hard-core sex and violence splattered the giant Lumiere...
That may help explain why the global response feels a bit disjointed. Different countries have different ways of keeping up with an evolving epidemic: while the Hong Kong government has been quarantining for 10 days everyone who has been in contact with a confirmed flu patient, local governments in the U.S. are still debating whether schools with infections should close. Meanwhile, drug companies say they could produce nearly 5 billion doses of H1N1 vaccine in a year, if pressed - but there's still no decision yet on whether to go forward, or exactly how the vaccine might be distributed...