Economics
Everything Is for Sale in Cyprus, and China’s Buying
The tiny Mediterranean island is throwing open the gates, while Germany and France build barriers.
Chinese and Cypriot flags (center) in the city of Paphos.
Photographer: Andrea Frazzetta for Bloomberg BusinessweekThis article is for subscribers only.
The heavy scent of citrus blossom hung outside the Hilton Park hotel in Nicosia, Cyprus, where about 100 small-business owners, lawyers, accountants, and their partners packed into the ballroom to mark the Chinese New Year. Guests were treated to a fan dance and a performance by drummers clad in red silk costumes.
But the symbolism went far beyond celebrating the Year of the Dog’s arrival: This was about cementing a burgeoning relationship between two unlikely partners.