Briefing for US-China relations and US Economy

Washington Post's Kaplan education plans to buy a majority stake in a Chinese business that prepares students to enter British universities. It has been a minority owner in Shanghai since April and plans to provide training in finance in a partnership with Southwest University of Finance and Economics in Chengdu in western China. American Consulate General has an office in Chengdu and Citibank as well. I taught at Nanjing University of Finance and Economics in 2002. I have reason to believe that finance and economics are important for Chinese and Americans as well.
US Economy: Jeffrey Garten,a Yale School of Business professor said:" What we are seeing is a very broad rebalancing of economic and political power in the world. How true! I have been studying Political Economy since early 1940s and I am still learning the happenstance as my lifelong pursuit. Harvard's Kenneth Froot noted the ascendance of China and the dollar's monopoly as the world's dominant reserve currency is under threat. Joseph Stiglitz, a Nobel laureate economist said:"The change in mindset about the use of the dollar in reserves and the movement of the dollar out of reserves will continue to exert downward pressure." Johns Hopkins University's Riordan Roett said:"It is a loss of confidence in both the dollar and the U.S." "It may reflect the widespread dismay with the Bush administration but the next administratioin will have a steep uphill struggle." My comment: readers of this blog can have varying scenarios in the days to come for projections in your own right. Francis Shieh a.k.a. Xie Shihao. Nov. 29, 2007