Washington Post,Dec.28, 2007 page A1: News from Shanghai- China's growing middle class or "couch potatos," can watch free videos to their hearts' content. A web site Tudou(Chinese Pin Yin for potato) Website Tudou has become insanely popular insanely fast - more than 15 million users as of December 2007.
Baidu.com, China's biggest rival to Google, has been at a price-to-earnings ratio of 159. Google, by comparison, has been trading at 50 times projected earnings.
Everybody believes the growth is going to be extraordinary and to be really extraordinary in recent weeks.
Impact on USA: Japan's Prime Minister arrives in Beijing to focus on economic and environmental cooperative measures. The transfer of Japan's waste-cutting, energy-saving and low-pollution technology would have a bearing on Sino-American economics in terms of globalization.
Page D6: China to relax rules for foreign investment. Such new relaxation follows talks by Treasury Secretary Henry M. Paulson Jr., the former head of Goldman Sachs,the investment bank. My comment: As expected such favorable outcome,I mentioned to my students months ago in Chinese Mandarin and Wu classes with a touch of economics. Francis Shieh a.k.a. Xie Shihao. December 28, 2007.
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