Edmund Phelps firmly believes China needs to innovate more if its economy is to progress to the next stage of development.
Trust the Germans to come up with the goods when it comes to technology and engineering, and the marketing item. The country that brought us "Das Auto" and "Vorsprung durch Technik" (Progress through technology) has now introduced to the world "Industry 4.0". That is the moniker the German government has adopted to describe the mass computerization and mechanization of traditional industries, which some are calling the fourth industrial revolution.
China's economic growth recovered slightly in the second quarter to reach 7.5 percent, a strong indication that the world's second-largest economy has been stabilizing after it dipped to a multi-year low of 7.4 percent in the first quarter.
Before she attended university, Zhang Xi was expected to follow in the footsteps of her artist father and become a traditional ink painter. Instead, the 35-year-old built a career as an accomplished architect, with a practice in Shanghai. However, her habit of playing with silk has also offered an entry to the world of fashion, and she's building a kingdom of silk bags.
Spain has Penlope Cruz, France has Marion Cotillard, and Italy has Monica Bellucci. But a breakout actress from China has yet to make a mark on modern-day Hollywood. That could change with Li Bingbing, whose profile is set to rise with her role in Michael Bay's Transformers: Age of Extinction.
Taipei is a vibrant and modern Chinese city that attracts tourists with its rich, mixed cultural heritage and melting pot cuisine. The Mandarin Oriental, Taipei, which opened recently, is a key point to start experiencing the city's culture, arts, food and luxurious lifestyle.
Container ship operators from China will face fresh pressure from the newly formed 2M alliance between Denmark-based Maersk Line and Switzerland-based Mediterranean Shipping Co SA, industry experts said on Wednesday.
The Chinese merger and acquisition market continued to be active in the first half of 2014, with listed Internet giants all striving to acquire good assets.
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