From the always excellent Bill Powell in Shanghai: About 18 months ago, Liu Junling, an upwardly mobile single Chinese woman, had a conversation with her boss, the CEO of a large, politically connected real estate developer in Shanghai. For the previous five years, people in China’s largest city had lived and breathed the property market—buying [...]
My latest column is in the Time with the various not-left-behind kids on the cover and online here. It begins: Over the course of this year, China’s government will find itself with more than $300 billion in new foreign-currency reserves, mostly dollars, that it will have to park somewhere. That’s in addition to more than [...]
