With a drastic fall in the house building permits, the outlook of the real estate market in the US appears to be grim, hitting the builders' confidence badly.

Lower house price expectations and tighter credit conditions have led to a major downfall in the housing price inflation from 9.7% in 2007 to 0% in the year 2008.

The World Tourism Organization forecasts a sharp increase in the volume of tourists going abroad with China emerging as the tourism powerhouse.

Retail sales in China are touching new highs, reaching US$ 111.2 Billion in October 2007. Booming stocks, rising incomes and supportive government policies have made it possible.