The Greek debt crisis may be giving eurozone finance ministers plenty to talk about in Brussels this week, but their careful choice of words has led to a veritable boom for the economic vernacular.
We have 2007 to thank for the terms ‘sub prime’ and ‘credit crunch,’ now 2011 has given us a new lexicon. It includes words like ‘soft’ and ‘hard’ restructurings and ‘brutal austerity.’
Economic novices may think they are alone in finding this new jargon opaque and perhaps intimidating. Fear not.
Hong Kong, China (CNN) – The internet in China is on fire after the online announcement that billionaire Wang Gongquan, co-founder of CDH Investment, was planning to run away with his mistress, Wang Qin, the founder of Jiangsu Zhongfu Science and Technology Industrial Group Co.
On Monday night, on Sina Weibo – a popular microblog site similar to Twitter (which is banned in the mainland) - the billionaire wrote:
“Friends, relatives and colleagues, I am giving up everything and eloping with Wang Qin. Thank you for the care and support over the years. I wish you all happiness! I cannot face everyone’s expectations and trust, and we also cannot explain. I’m sorry for leaving without saying goodbye. I ask for forgiveness.”
Since the post, the Chinese press and online community – the world’s largest – has been abuzz over the announcement.
Today, a new post from Wang, one of China’s top venture capitalists, is bound to fan the flames. Wang wrote that family and friends were worried he had been “taken away by the government” for his past speeches on sensitive matters and defense of Xu Zhiyong, a Beijing University lecturer and human rights activist.
China has been cracking down on dissent in recent months – most notably with the detainment of artist Ai Weiwi – following the uprisings earlier this year in the Middle East and calls for similar protests in China.
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