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China

This Happened—November 23: People's Republic Comes To The UN

Following a long series of voting, and two decades after its founding, the People's Republic of China finally gains recognition and joins the United Nations.

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When did the People’s Republic of China join the UN?

The Republic of China joined the UN when it was founded in 1945, along with all of the other Allied countries from World War II. But, just four years later China experienced a communist revolution during the Chinese Civil War which led to the establishment of the new People’s Republic of China in 1949.

Was the People's Republic of China originally allowed to join?

The People’s Republic of China struggled for 21 years to achieve recognition and legitimacy in the UN, which recognized the Republic of China, aka, Taiwan, as the legitimate Chinese representatives. until U.S. President Richard Nixon finally opened negotiations with then Chairman Mao Zedong of the Chinese Communist Party. Albania had been putting forth yearly motions to replace the Republic with the People’s Republic for years, but this time the U.S. was onboard. In 1971, the People’s Republic of China finally became a member of the UN, and one of five permanent members on the UN Security Council, a seat which it has now held for over 50 years.

How was the People's Republic of China formed?

As the Republic of China essentially operated out of the island of Taiwan, the People’s Republic of China became the undisputed governing body of mainland China, yet the UN continued to recognize the old Republic of China due to its more closely aligned ideology.

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Economy

How Germany's Office Building Market Went From Bubble To Bust

Higher, faster, more expensive – in German cities, renting out office space was a booming business. Then came remote working and higher interest rates.

Photo of a construction manager overlooking a construction site in Germany

Construction Manager Jens SchĂĽenberg stands over one of the largest inner-city construction sites in Germany.

Michael Fabricius, Andreas Macho, Cornelius Welp

FRANKFURT — The four towers still look like huge stone skeletons. But in some places, there are already windows appearing in the façade. The “Four” building project in Frankfurt is due to be completed in two years’ time. It will have more than 200,000 square meters of floor space, housed in tower blocks that soar to heights of 233 meters. Plenty of space for apartments, shops and, above all, offices.

A few hundred meters away, José Martínez sits at his desk in a much less spectacular building. On the wall behind him hang sketches of other planned tower blocks. Martínez is CEO of Groß & Partner, which has overseen the construction of the towering “Four” over the past 10 years.

He has no doubt that the effort has been worth it. “A mixed-use building in a prime location is an easy sell,” he says, adding that more than 80% of the office space has already been reserved.

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