Quiz: Hypermarkets such as those operated by Carrefour were very successful in emerging markets—especially in Brazil—in the 1980s and 1990s, but they are less successful today despite the increasing affluence of the populace. What is the explanation for this apparent paradox?
China’s imposing a 20% capital-gains tax on residential real estate in Bejing and Shanghai and its plans for an annual property tax are examples of modernization, but framing it as a problem sells more newspapers, I suppose:
Housekeeping note: There’s a new world-population map in the box atop this message board. Compared to the old map located there, the new one is easier to read and it retains more of the true shape and relative location of each country. Comments welcome.