North American mills are sawing lumber at the fastest pace in six years after a recovering U.S. housing market, a beetle infestation in Canada and increasing Chinese demand drove the biggest price surge in two decades.
China sent thousands of military personnel, rescue teams and utility workers into the southwestern province of Sichuan where the country’s strongest earthquake in three years left 1.5 million people needing aid.
China’s Premier Li Keqiang flew to the southwestern province of Sichuan to oversee relief work as the death toll from yesterday’s earthquake climbed to 179 and officials struggled to help 1.5 million people affected by it.
All real estate markets are local, says the industry axiom, one that China’s central government is painfully aware of as its efforts to rein in home prices are undermined by uncooperative municipal authorities.
Asian stocks rose, with the regional benchmark index capping the biggest weekly gain in seven months, as the yen traded near 100 per dollar and slower- than-estimated inflation in China eased concern about monetary- policy tightening.