Yangtse Dam: In Profit or Peril?

— It was not, perhaps, the news investors in the world's largest infrastructure project expected to wake up to. But with immaculate timing and without any hint of irony, days after China launched its first corporate bond issue, the government announced it had perhaps sold off a potential chunk of debt in an environmental time-bomb. Investors can hardly be blamed for accepting a relatively modest 5.35 percent annual return, nearly a full percentage point above government bond rates and deemed as "safer long term," but way below the potential returns of the overheating and ready-to-burst stock market's 100 percent bubble rise this year, on top of a similar increase the last year...