Days after Xi Jinping became chief in 2002 of Zhejiang, China’s hotbed of private enterprise, he set out on a tour of the province. His message: more capitalism.
Bank of England Governor Mervyn King said that global policy makers’ response to the financial crisis of 2008 has left borrowing costs too low.
A year ago, Catherine Liu employed more than 2,000 people at her five Shanghai luggage-making factories. Now, as the dwindling supply of low-paid young workers forces wages and costs higher, she has 1,200 left.