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New Century Global Center

The superlatives in China continue -- the latest symbol of China's "bigger is much, much better" ethos is open for business.

Located in Chengdu (population 14 million), capital of Sichuan province in southwestern China, the New Century Global Center is the "largest freestanding building in the world," Chinese officials say.

Though the words "world's largest" usually bring to mind an image of a towering skyscraper, this project actually isn't  tall. But it's certainly big.

At 500 meters long, 400 meters wide and 100 meters high, the 1.7-million-square-meter mega-structure is capable of housing 20 Sydney Opera Houses and almost three times the size of the Pentagon in Washington, D.C.

The Global Center on opened June 28 and is home to business offices, hotels, movie theaters, shopping malls, a faux Mediterranean village and family-themed attractions such as a water park called Paradise Island.

The New Century Global Center is located in an entirely new planned area of Chengdu called Tainfu New District.

Chengdu is also currently expanding its subway line and plans to construct a new airport by 2020, further suggestion that Chinese authorities  want to make the city an economic and cultural capital of western China.

From June 6-8, Chengdu hosted this year's Fortune Global Forum, an annual invite-only event featuring chairs, presidents, and CEOs of the world's largest companies.

According to Xinhua, China's official state media, Chengdu's GDP  hit 800 billion RMB US$130.48 billion by the end of 2012.

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Kimberly-Clark Corp will expand operations in Venezuela

 

                                                                                                         Photo credit: Jorge Silva for Reuters


(Reuters) - Kimberly-Clark Corp is planning a 234 million bolivar ($37.1) investment to expand operations in Venezuela in a move that should help ease a national shortage of toilet paper.

President Nicolas Maduro's government, which began in April, is facing a scarcity of some food items, medicines and basic bathroom products.

The government blames private businesses. Critics say the shortages, high inflation, and slowing growth are the result of nationalizations and other socialist economics under Maduro's predecessor Hugo Chavez.

Officials say the problems are easing, though Venezuelans still complain they cannot find many items, and queues at supermarkets are a common scene across the nation.

"When the shortages occurred, the productive sector, together with the government, designed a strategy to combat it. Now things are fine," Trade Minister Alejandro Fleming said after a meeting with representatives of the U.S. company.

Kimberly-Clark has a 15 percent market share for toilet paper and also makes other products such as sanitary towels and diapers.

The general manager of its local subsidiary, David Cahen, said "Kimberly-Clark will invest 234 million bolivar over 6 to 24 months. This investment will increase the company's local capacity by 30 to 40 percent."


adapted from Reuters

And how about asking questions so as to get the following answers?

1. a 234 million bolivar ($37.1) investment
2. to expand operations in Venezuela
3. because there is a national shortage of toilet paper.
4. in April
5. a scarcity of some food items, medicines and basic bathroom products.
6. under Maduro's predecessor Hugo Chavez.
7. because they cannot find many items and queues at supermarkets are a common scene across the nation.
8. after a meeting with representatives of the U.S. company.
9. by 30 to 40 percent
10. I don't think so