Ninety per cent of all news from China is piped to the world through Shanghai. Ninety per cent of all newshawks in China get most of their facts and write most of their stories in the lounges and bars of the three big hotels along the International Settlement's Bund: the Palace and Cathay hotels and across the Garden Bridge, the Astor House.
Early last Saturday afternoon newshawks and reporters gathered in the Palace and Cathay for their unofficial daily conferences. They winnowed the day's rumors including reports that:
ΒΆ 9,000 Japanese regulars...
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