China is preparing new measures to attack rising inflation. It has already tried to slow down its galloping economy by cutting back bank lending and bringing in measures to deflate the bubble in property prices. Millions of middle class Chinese have gambled on buying new apartments. It’s even reported that speculators are hoarding a large number of properties to fuel price rises. Fears have been raised that as a result, millions of homes lie empty across China, in what is a parody of healthy economic growth. The BBC’s business editor Robert Peston reports from Inner Mongolia on China’s ghost towns. Plus leading behavioural economist Professor Dan Ariely of MIT in the US, explains the brain science of why humans are willing to lose money to gain revenge. And our technology correspondent Jeremy Wagstaff examines the global habit of ‘miscalls’ - the way people use phone calls which never connect to communicate with their loved ones or business contacts.
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Business Daily - China’s empty homes
China is preparing new measures to attack rising inflation. It has already tried to slow down its galloping economy by cutting back bank lending and bringing in measures to deflate the bubble in property prices. Millions of middle class Chinese have gambled on buying new apartments. It’s even reported that speculators are hoarding a large number of properties to fuel price rises. Fears have been raised that as a result, millions of homes lie empty across China, in what is a parody of healthy economic growth. The BBC’s business editor Robert Peston reports from Inner Mongolia on China’s ghost towns. Plus leading behavioural economist Professor Dan Ariely of MIT in the US, explains the brain science of why humans are willing to lose money to gain revenge. And our technology correspondent Jeremy Wagstaff examines the global habit of ‘miscalls’ - the way people use phone calls which never connect to communicate with their loved ones or business contacts.
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DocArchive: Guangzhou - China’s migrant metropolis
China’s economy depends on a system regulating workers from around China and beyond. In Guangzhou, the migrant metropolis, Mukul Devichand hears stories of anger and reform.
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Stuff You Should Know
10 Big Cases of Revenge — Who doesn’t love a good story about comeuppance? Whether served cold or piping hot, revenge is an ancient idea — and history is filled with acts of vengeance. Join Josh and Chuck as they trace the concept of revenge from the bygone days of Hammurabi to the modern era.