Wall Street Journal, Dec 31, 2011

choi

(1) James T Areddy and Bob Davis, China Pins Hope on Public Housing.
http://online.wsj.com/article/SB ... 94233524538406.html

Quote:
(a) the first two paragraphs:

"One of the biggest public-housing projects in history will help determine whether China can remake its real-estate sector fast enough to prevent its economy from flaming out.

"China is in the midst of a crash program to build 36 million subsidized apartments by the end of 2015—enough units to house the entire population of Germany. The goal is twofold: to head off social unrest by ensuring decent places to live for low-wage workers, but also to cushion an expected fall in high-end construction—the result of policies to tame property speculation—by ramping up construction at the low end: so-called social housing.

(b) three consecutive paragraphs:

"One of China's most ambitious social-housing efforts is under way in the southwestern metropolis of Chongqing.

"Last month, Xiang Yuankun, a 26-year-old Chongqing factory worker, moved into a two-bedroom rental for just $85 a month. He snagged the apartment after entering a lottery for those earning less than 2,000 yuan, or $315, a month and living in less than 13 square meters, or 140 square feet, the size of a parking space.

"His new apartment 'is a privilege,' he says.

(2) Aaron Back and Andrew Galbraith, China's Downshifts on Autos, Boosts Energy in Foreign-Investment Review. (title in print)
http://online.wsj.com/article/SB ... 30011797163488.html
(paragraph 1: "China has reshuffled a list of key sectors where it wants to attract foreign investment, downgrading traditional industries like autos and putting more emphasis in emerging fields such as new energy sources.")

My comment:
(a) There is no need to read the rest.
(b) downshift (vi, also noun):
"1: to shift an automotive vehicle into a lower gear
2: to move or shift to a lower level (as of speed, activity, or intensity)"
www.m-w.com

(3) Jason Chow, Gold Tycoon Rides Crest of Asian Boom
http://online.wsj.com/article/SB ... 99733930034396.html
(CHENG Yu-Tung, of Chow Tai Fook and New World Development Co Ltd)