Georgetown University is a quality institution known to the world

Former President Bill Clinton was a student at Georgetown from 1964-68. Progressive Policy Institute ranked Washington region as the top area on workforce education. "Work and Study Cycle Theory", Cf.www.ask.com for reference, is dedicated to such folks who work and study in their life cycle. Such theory maybe validated and implemented in the 21st century as empirical evidence. Economic dynamism is a key factor in determining educational attainment with optimism for economic future. Cf.www.sba.gov/advo/research/rs313tot.pdf. Francis Shieh a.k.a. Xie Shihao. December 31, 2007

Faith,Action and Extraordinary attitude for 2008

To my friends as readers of my blogs: We are ready to encounter the New Year 2008 with ideas and ideals to focus on what is right in whatever happenings. Shine on! I'll be in rhythm with harmony as music to my ears with luck to sing for witty fun. I shall be motivated to find out my new direction to go with inspirations. Science reveals that faith,hope and love would boost our immune system with fabulous health. Creativity is on the rise and I shall make it by sharing my poetic mood as "shihao" i.e. hero of poety to remember "Liduerxiajianshihao" as No.3 poet in humor with modesty! (sic) I am in charge of my old culture from China plus my new culture from USA to have the right demeanor. Needless to say,I save the very best for my nearest and dearest. I am dancing in my mind to the holy music in my heart with amity toward all. Moreoer,I would make the beloved the most important folks in the world. Furthermore,I would accomplish things when I am kindled and rekindled to challenge myself. For practical purposes, I strive to be in an imaginative mindset with positive scenarios. There is so much to learn and "Work and Study Cycle Theory" (www.ask.com)comes in time for materialized realization on daily basis. Truthfully, I am aware of a hole in my education and be grateful for such lack with continuous improvement as professional advancement. As time goes on, I would be able to pursue a glorious, colorful and artistic mission in this new year 2008 such as Olympic Games in Beijing,China,my motherland. I would opt my thoughts and get my priorities in order. Seeking proper priorities,I believe,is the most decisive decision for all folks in all nations. Economics is a science of choice and change! Francis Shieh, a lifelong student of economics and languages a.k.a. Xie Shihao on New Year's Eve,Dec.31, 2007 at 6.54 a.m.

Art market sheltered from credit turmoil

Washington Post,Dec.30, 2007 page F2:" Among the reasons for the strong showing are the weak US$, expanding world wealth and new buyers from countries not previously associated with the art collecting community. Over the last five years,wealthy buyers from China have greatly helped fuel the art market. China has a limitless appetite for Western art and objects. Prices have doubled or tripled in the past year." My comment: American coins are antiques with intrinsic value for personal enrichment. When the supply is low and the demand is high,the value is up,up and up. Metals are considered as good investments in USA and I would catagorically state that American hard coins with historical value would yield great price for auction or private collectors in China. Paper currency is merely paper but gold,silver and copper would be more valuable for certainty as known to economists all over the world.
Economists have been trying to determine whether Americans, with homes less valuable, are less inclined to hit the mall. The truth is that consumers hehaved holiday season as exception and the corporate sector would also decide where the economy is heading in the weeks to come. If businesses are investing less due to the credit markets,what would be the outcome? If the labor market is softening due to the overall economic happening,then unemployment rate would be increasing to reflect a serious malaise of the economy in 2008. Let us wait and see the empirical evidence. Francis Shieh a.k.a. Xie Shihao. December 30, 2007

Asian graduate of the Coast Guard Academy,Hsu,the Captain

Washington Post,December 30, 2007 on page C6 - Two outstanding local leaders have gone to their reward as euphemism: "Kwang-Ping Hsu,died of complications from a brain tumor at the age of 71, is the first Chinese American captain in the US Coast Guard. He led with enthusiasm and humor, taking his staff to Chinatown and trying to teach them how to order the authentic dishes not on the menu. If people would joke a little more,it would be a better world." My comment: Laughter begets longevity. Hehehahahoho all the way and we shall live to be centenarians.Such maybe the quotable quotes.(sic)
George Didden III; age 62.Bank chief active in community, passed away of complications of sepsis. He played a role in bringing two new pandas,Tiantian and Mei Xiang to the zoo from China.
The above deceased were involved in US-China positive relations. RIP.
Francis Shieh,a.k.a. Xie Shihao on December 30, 2007

A nation's health is like a human body:SIMILE

It may be regarded as a figure of speech: The economy is similar to be a living body and money is the life blood. But what is money? Paper currency? Credit cards? Online cashless(monetary) transactions? Blood circulates to all parts of the body without obstructions to be nourished thereby impurities to be removed. For a healthy economy, money flows freely to all sectors of a nation to reduce poverty and hunger. However,if blood is obstructed,illness will ensue. When we encounter the credit crunch, the rate of unemployment rises,housing prices would be falling. Consequently, a malaise would cause a nation to be drifting to a slowdown. The economic guru would concoct finessee to try to resolve such visceral happenings. Any euphemisms and rhetoric might be OK for a while but we must be aware of empirical evidence in the new year 2008. If we emulate tycoons and the folks with financial clout, we would be disappointed. However,if we live spiritually with our intellectual endeavors,we shall discover our mental wellness with prowess as our "Xin-an-li-de" in Pin Yin without qualms. Since USA is a developed nation and China is a developing nation,it would be highly desirable to visit to make comparisons of the lifestyles of the folks for our insightful reference. The following may be healthy food for thought in the name of human unity:
We, the homosapiens
From whom on different paths
All of us have come to this mundane world
To whom on different ways of life and lifestyle
All of us are going to his/her reward eventually
Create strong hearts and minds for relaxed and carefree way(xin-kuang-shen-yi)in Pin Yin system of romanization.(Cf.A Glimpse of the Chinese Language for mental challenges of such classical and modern language for art and music re calligraphy and 4 tones in Mandarin as a recreation to be ready for Olympics in Beijing 2008.
Build bridges across the Pacific Ocean
United make us rejoice in our diversity of the colors of our skin
To have eternal peace as centenarians with a rainbow to the glory of humankind on earth for our contributions. The ultimate test of economic success is the contribution which economic activity has made to the goal of human happiness.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics ad infinitum.

US-China in common: Macroeconomics of stabilization

Washington Post, Dec. 29, 2007 page D2: "Key Chinese stock index rose 97% in 2007: China's economy will keep growing but there is uncertainty about the government's macroeconomic control. China is trying to keep the fast-growing economy from igniting inflation or a debt crisis and has raised interest rates repeatedly and tightened access to credit." My comment: It is a matter of shifting aggregate demand and aggregate supply curves but gaps are bound to occur as per the Keynesian Cross Model in macroeconomics. My paper entitled "Macroeconomics of stabilization" was published by the White House Conference of Balanced Economic Growth in August 1978. However,such paper may still be useful for reference. Francis Shieh a.k.a. Xie Shihao. Dec. 29, 2007

"The Stuff of Thought" Language as a window into human nature

Steven Pinker published the above work at Viking. 499 pp. $29.95
Language comes so naturally to us that it is easy to believe there is some sort of intrinsic logic connecting the thing and its name, the signifier and the signified. Human language is an emanation of the human mind. A thing does not care what we call it. Words and their rules don't tell us about the world; they tell us about ourselves. "Mingzhengyanshun" in Pin Yin as a Chinese idiom/adage to mean the correct words for the true nomenclature. I have reached the conclusion after six decades+ of studying the Chinese and the English languages: Western linguists are not familiar with the Chinese language and there is the missing link,indeed. However,there is the common ground of such meeting ground as I tried to make comparisons of the thoughts of Aristotle,Plato with Confucius and Mencius decades ago. Such is the unfinished project for thoughtful scholars to pursue the significant synthesis in terms of globalization for the West to meet the East in the 21st century ad infinitum for world peace via languages. Dictyon.net is the gateway to global languages. Francis Shieh a.k.a. Xie Shihao. Dec.29, 2007

In China,Motorola turns to rabbit as bait and Japan

Washington Post,December 27, 2007 page D8: "Animated character helps top tech-savvy youth market in rollout of smartphone : About 162 million Internet user in China, the world's second largest after USA. Nine out of 10 college educated Chinese have Internet access. China is already the biggest phone market in the world. It is going to be the biggest Internet market in the world. It is the biggest blogging market in the world, and the biggest market in the world for instant messaging."
Bullet train may serve Beijing: China might use Japanese-style bullet train technology on a high-speed rail line scheduled to open before the Beijing Olympic Games in August 2008.
CCTV-4 December 29, 2007: China and Japan will cooperate in many fields for the long range friendship in the days to come. President Hu Jing-tao will visit Japan in Spring 2008 during the cherry blossom time. I had such vision of closer China-Japan Trade cooperation and my view was published in "Kuai-bao" in Hong Kong,April 5, 1990 when I was a Fulbright Senior Scholar. It is certainly my pleasure to watch the development after a lapse of 18 years. As a lifelong student of economics,I envisioned such positive scenario about two decades ago. Neeedless to say,I share the current events with my intellectual utility. Francis Shieh a.k.a. Xie Shihao. December 28, 2007.

Tech boom sweeps China for referece in USA

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.

"Economist" magazine,Dec.22-Jan.4,2008 issue

On the cover page,a photo of Chairman Mao with a red cap for holiday greetings to all to imply China's role in the field of economics.(The East is Red?) Perhaps the editor is aware of such new realities in economics. On page 68: Recalculating China's GDP: China's economy is smaller than was thought.Previous estimates of China's Purchasing Power Parities(PPP) were largely guesswork. Now the World Bank has produced new calculations based on a survey of prices of over 1000 goods and services in 146 countries including China for the first time. On this basis, China's GDP in 2005 was $5.3 trillion, compared with $2.2 trillion using market exchange rates and $8.9 trillion using previous PPP estimates. This was still well below America's $12.4 trillion that year i.e. We are No.1 as the global leader of economic clout per se as most Americans would believe or would be led to believe! My comment: Such basis is still questionable due to folks' lifestyle,custom and tradition of China. Prof. John K. Galbraith stated decades ago that we cannot measure the immeasurables. Cf.a book review of "Almost Everyone's Guide to Economics" published by Atlantic Economic Journal,September 1979. In an article published by Atlantic Economic Journal in 1970s,I raised PPP issue and another article by Lawrence Summers in 1990s mentioned PPP with similar queries. President Bush sent a letter dated September 7, 2007 re Chinese Culture Festival apropos of tradition and culture of the Chinese in America in making contributions to the legacy of diversity with talent,vision and determination. Chinese Americans set a positive example for others and add to the success and prosperity of USA. My comment: Chinese in China are making contributions to China as empirical evidence with the tradition and culture that are impossible to be counted in numbers to show GDP per capita as the basis of standard of living. Any other scenarios would be scholarly exchange of ideas for our learning experience,indeed. Francis Shieh a.k.a. Xie Shihao on Friday,December 28, 2007.

C-Span Radio on December 27, 2007

Nov.7, 2007 New York Public Library sponsored a program by Dean of Journalism,UC Berkeley on US-China relations with participants of a professor of English apropos of Religion,Politics and Art citing Propaganda in positive and negative historical context with entertaining facts plus possible eye-opening inspiration to all listeners. The missing link,as I see it,is the lack of understanding re the original source materials in the Chinese language of Confucian philosophy that is beyond the acceptance of those who have not had the opportunity to study the Chinese language in re the culture of Chinese custom and tradition from the original source materials. "Mingzhengyanshun" in Pin Yin may be understood or otherwise for the proper interpretation of such nomenclature in every field of endeavor. For the readers who may be interested in such seminar,I would suggest that contact be made for a transcript from the New York Public Library for your own in-depth analysis of their views. I enjoyed such very much but have reservation about the lack of understanding of the language and culture as the bottom line of their presentations. Translations are translations as scratching the itches with a bandage on it. The itch is still there in the light vein with my own humor. Happy Holidays to watch US-China relations especially in the field of economics in the days to come for a more realistic assessment from your own judgment for Olympics 2008 in Beijing and Expo 2010 in Shanghai,China. Francis Shieh a.k.a. Xie Shihao. December 27, 2007.

China pledged for clean energy: Reference for USA

Washington Post, December 26, 2007 page D10: China would develop renewable energy for its fastest growing economy but warned that coal consumption will grow dramatically and avoided embracing binding limits on its greenhouse gas emissions. In a report on its energy plans, the government announced no new initiatives but said it wants to curb reliance on oil and gas to drive an economy that is the world's second biggest energy consumer after the United States. The report said China will promote hydroelectric nuclear, solar and wind energy, as well natural gas extracted from garbage dumps and coal mines. Francis Shieh a.k.a. Xie Shihao. Dec. 26, 2007

China is the 4th largest export market for U.S. goods

Washington Post, December 26, 2007 on page A1: "Tide is shifting on US exports. Challenged by a troubled US economy and the steeply falling dollar, a growing number of US manufacturers are making up for slowing domestic sales by expanding them overseas, often with sophisticated products, such as tractors,medical equipment and electrical machinery for foreign appetite apropos of the capital goods. US sales are growing 17% this year with China."
On page A21. "Free trade,argued Adam Smith and David Ricardo, would specialize in what it did best i.e. the Law of Comparative Advantage should be understood. It is clearly known to WTO to promote activities for international trade. Nicholas Lardy of the Peterson Instgitute says that China's trade surpluses have swelled, the current account registers a $400 billion surplus, about 12% of GDP. China's current account surplus is triple Japan's level in the 1980s when Japan-bashing was at its peak. My comment: Why Japan-bashing and China-bashing in the negative sense?! Jeffry Frieden of Harvard believes that protectionism worsened the Great Depression. Everyone wanted to avoid a repetition of that tragedy. Robert Samuelson,the columnist of the Washington Post sees the growing economic interdependence. The right way is to study the cause of such phenomena and act accordingly. That would mean the study of the custom and tradition of Asians for their lifestyles for reference. The teaching of Asian culture is rarely done in American schools and we must promote such significant studies in the 21st century for our own sake. Moreover,we must be aware the fact that United States is a Pacific nation as well and America's day starts at Guam and Hawaii, Alaska and the continental United States. Such proper approach is desiderata for the best interest of USA in the 21st century. Francis Shieh a.k.a. Xie Shihao on December 26, 2007 for reflections as a life-long student of economics.

Making progress toward my unique goal

My goal is to witness positive US-China or Sino-American economics to be on the right track for the benefit of peoples in two great nations on earth. The fastest way to my goal is to let other folks to be alerted to their own interest when they read my blogs that seem to push my interest but my interest and the interests of other folks in the USA and China should and would dovetail and to jibe the best interests of two nations. when we are aware of the Law of Comparative Advantage for trade. Life is like a 3-D poster. Look profoundly into a flat part. However,when we change our position, and we no longer see the distinctions between things. A new image or a new way of things come out nicely. Our mind is like a magic wand. Observe where I zing the happenings in the days to come. Travel to China would have a rejuvenating effect on our lives to understand a moving China for Olympics in Beijing 2008 and Shanghai Expo in 2010. Francis Shieh a.k.a. Xie Shihao. December 26, 2007. P.S. When we shop for sales after Christmas ,we'll find lots of products from China at less cost for our hunting bargains effort to save money as American consumers and consumers in the world. Such realistic assessment would make us to have better understanding of the prospects of trade for all folks in such practical activities.

Heirs of China's elites schooled in Ancient values

Washington Post,December 25,2007 Page A1,A20: Professor Zhang at Zhejiang University said:"People will be less and less happy even though they have more and more money." I gave my lectures in Shanghai in 1981 apropos of Economist Paul Samuelson's view calling material consumption over desire for happiness. I recommended adding intellectual pursuit and spiritual satisfaction plus good health in the numerator over the desire as denominator. I sent my blogs in the past.www.baidu.com to search shihao for such blogs if interested. On page A20,Bill Gates read ancient Chinese classics in middle school and I have reason to believe that Confucianism is a part and parcel of Chinese classics. Visit www.ask.com for Philosophy of Mencius for reference.
On poage D2: Morgan Stanley sets China prices- Morgan Stanley determined the range of prices to be used when China's international investment fund converts $5 billion worth of securities into Morgan Stanley stock. China Investment Corp. agreed to buy Morgan Stanley securities that will be convertible to up to 9.9% of the bank's stock in 2010, at a price of no more than 1.2 times the reference price to be confirmed yesterday. The reference price would be between $48.07 and $57.68. Published by the Washington Post,Dec.25, 2007

Economics for Everyone: The Prologue of a masterpiece

Kudos for the 2008 edition of the book entitled "The Mind of the Market" by Michael Shermer. Henry Holt Co.,New York. I read such great magnum opus with admiration.
Economics is not just about money. It is also about human nature, just is virtue economics,trust and happiness. Michael Shermer shows that the real experts of Homo economicus,the bedrock of traditional economics are often found in psychology, biology, even primatology. I would add: Philosophy consisting of custom, tradition and lifestyle of the folks of a nation. Dinesh O'Souza wrote: "Written with verve and flair,"The Mind of the Market" is Michael Shermer at his best." Markets are move and that free trade meshes well with human nature. Here I would like to point out the Law of Comparative Advantage. He deepens the argument for economic,political and social freedom. My comment: Such desirable serendipity is being exhibited in China as evidence of China's market system to serve consumers of the human society in the 21st century apropos of trade under the guidelines of WTO.
Postlude: "Almost Everyone's Guide to Economics" by John K. Galbraith. A book review was published in the Atlantic Economic Journal,September 1979.
"Keys for Economic Understanding" Such work stresses training for marketable skills as human capital for the genuine pursuit of economic wellbeing of humankind.
Francis Shieh a.k.a. Xie Shihao. December 25, 2007

Dollar's drop forces global economy to shift

Washington Post,Dec.24,2007 page A8:China is turning noses up at the dollar. A manager at Shanghai Import and Export Co.,which exports garlilc oil, has begun to demand EUROS from overseas customers instead of dollars. He said:"The use of euros enables us to shy away from losses caused by the conversion between RMB and the weakened US$" My comment: Some US politicians have urged the rise of RMB in exchange rate and such boomerrang pops up as kick backs of such self-defeating effort. Any other scenarios? Your comments are invited for my learning opportunity. Francis Shieh a.k.a. Xie Shihao. December 24, 2007 at 8.24 p.m.

The Year that China arrives:WashPost,12/24 page A15

Fareed Zakaria,editor of Newsweek wrote: For Americans, 2008 is an important election year. But for much of the world, it is likely to be seen as the year that China moved to center stage, with the Olympics serving as the country's long-awaited coming-out party. Whether it's trade, global warming,Darfur or North Korea, China has become the new X factor, without which no durable solution is possible. Former Harvard University President,Economist Lawrence Summers pointed out that during the Industrial Revolution the average European's living standards rose about 50% over the course of his lifetime. In China, Summers calculates, the average person's living standards are set to rise 10,000% in one lifetime. China has expanded personal liberty in ways that would be recognizable to John Locke or Thomas Jefferson. People in China can work, travel, own property and increasingly worship as they please. In the "Foreign Affairs" journal, Princeton's John Ikenberry points out that the current world order is extremely conducive to China's peaceful rise. That order is integrated, rule-based with wise and deep foundations - and there are massive economic benefits for China. This will be the year of China. It should also be the year we craft a serious long-term China policy. My comment: In order to understand the real China,original source materials must be known for true understanding. "A Glimpse of the Chinese Language" in English and Confucianism: Political Philosophy of Mencius may be useful references for all who wish to know China in the 21st century. Such works may be searched at www.ask.com or search at Georgetown University Library online catalog. Francis Shieh(Georgetown University Graduate School Grad. Class of 1950) a.k.a. Xie Shihao. December 24, 2007 as referrals for intellectual gifts to all folks.

Wall Street Cornered:WashPost,12.23/07 page F3

Morgan Stanley sells a 10% stake on unfavorable terms to the Investment arm of China, which is accumulating dollars at the rate of $1 billion a day. Bear Stearns,reeling from the dissolution of two of its hedge funds and $1.9 billion in write-downs,arranged a $1 billion equity swap with China Citic Securities. It is a simple parable. A wealthy country that lives beyond its means,takes on too much debt and thinks it can slide by with a lot of clever financial engineeing is finally forced to sell some of its crown jewels to its creditors. My comment: lifestyle of Americans are far different from Chinese custom and tradition. Such discrepancy can hardly be changed overnight in the days to come. The readers can detect the future of Sino-American economics in the 21st century. Francis Shieh a.k.a. Xie Shihao. December 23, 2007

Thoughts on Nanjing:Religious issues for Presidential election 2008

To Whom It May Concern: I expect to visit Nanjing again around the end of January 2008 and have some thoughts about Taiping Tianguo(Heaverly Kingdom of Great Peace) to be a part of Chinese history. (You may search such online if interested.) Founder Hung Xiu- quan (1814-1864) who believed he was son of God and brother of Jesus. If Taiping had succeeded, China would have become the most populous Christian domain in the world. The cult of own brand i.e. apostasy of its Christianity,however,would have ultimately led to a clash with the rest of Christendom. Food for thought during Yuletide 2007 with ecumenical conceptual understanding in my mind with faith in true religion of peace of earth and goodwill toward humankind.
Nanjing is an attractive city with wide boulevard and an enduring sense of history. There is a palpable sense of confidence among residents despite their traumatic past i.e. devastation brought on it by the invading Japanese army in 1937 when I was 11 years young living in Shanghai. Getting around is easy; taxis are cheap and plentiful and a new metro system shuttles passengers thru the center of the city. When I was in Nanjing in 2002,the metro system was being built. Ming Dynasty legacy of "Cheng qiang" i.e. town wall that encircles Nanjing at over 20 miles (32 km), it is the longest city wall in the world. Taiping edifice for social planning was glued together by the dictates of the christian gospel during that period of Chinese history. Nearby attractive cities: Yangzhou is nicknamed as a (Slender West Lake) and Zhenjiang is famous for vinegar. Even though I visited years ago but I would like to visit again during the Chinese Lunar New Year(Feb.7,2008) of the Mouse. The weather may be cold but folks are warm to welcome the upcoming Chinese New Year for cultural celebrations. Francis Shieh a.k.a. Xie Shihao. Dec.22, 2007

Washington Post,Dec.22,2007 page D3

Morgan Stanley announced a $5 billion investment from China's government-constrolled investment vehicle to help replenish its financial capital. Bear Stearns agreed to a $ 1 billion investment from China's Citic Securities. My comment: Citic was started by Yong,former VP,a graduate of St.John's University,1937 as a patriotic capitalist.
On page D1: Treasury chief Henry Paulson, Jr. saw the fund as a stabilizing force since such plan is designed to stabilize a vital segment of the credit markets.
The strategy called for banks across the globe to create a $100 billion fund aimed at jump-starting the troubled market for short-term loans,acting like a credit card for firms. My comment with light humor: It is all paper-created endeavor with faith and credit of the nations as honored by institutions and folks in the world for economic globalization. Henry Paulson Jr.is to be credited as a Credit Magnet with smart moves to solve financial problems with finesse. I salute him with kudos since he envisions the benefits of Sino-American Economics. Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics witnessing the nature of economics in all shades and colors for human operations with financial enjoyment in the 21st century and beyond ad infinitum.

Economic policy would vary as per situations

China hikes interest rates for 6th time(Washington Post,Dec.21,2007 page D8) Such policy means China is no longer tracking the direction of US interest rate policy i.e. tightening comes as the FED continues lowering rates to try to keep a recession at bay. The split could complicate China's monetary policy causing Chinese-curency-dominated assets relatively more attractive. Another outcome is upward pressure on China's RMB when the China People's Bank (central bank) tightens next year and US continues to ease. Almost everyone expects RMB to continue appreciating vs the US$ in 2008. That may or may not be in line with Sino-American economics in the short run or in the long run. That remains to be seen,indeed! Francis Shieh a.k.a. a lifelong student of economics. December 22, 2007 P.S. 5 million dollars for a Hamburger in Zimbabwe with inflation of 8,000 %. Well,we should feel good when we go to McDonald's to hit bargains. Hehehahahoho all the way and we shall live to be centenarians.(eat Chinese food to be added for good nutrition and health. Not an Ad with humor!)

Splendid ideas and devoted faith for Yuletide season

There is serendipity when one would associate with folks who are creative, interesting with humor. Any sophistication would improve one's talents for promoting the cause of spiritual joy on earth. When one responds the needs of others with an open heart as one's priority,life can be fulfilling in the mind. The following numbers may be of interest to the readers in the mundane world:
$817 - the average amount an individual spends on shopping.
$53.5 billion - estimated spending on clothing and accessories during the months of Nov. and Dec. 2007.
300,000 trees harvested for the amount of cards sold during the holiday season.
$512 million - gross earnings of Christmas tree farmers.
$142.6 million - value of U.S. imports of Christmas tree ornaments from China between the first six months of 2007. Source: National Retail Federation, U.S. Department of Commerce, International Council of Shopping Centers,U.S. EPA, U.S. Census Bureau. Here is another evidence of Sino-American Economics.
Francis Shieh a.k.a. Xie Shihao. December 21, 2007

It is more blessed to give...toys from China and learn Chinese?

Giving gifts may be considered as the art since there are no boundaries for gift exchanges in terms of globalization. Moreover,lots of gifts are made and imported to USA from China such as stuffed animals and bizarre contraptions of some heinous toys for kids. You better watch out not only for Santa Claus coming to town but the tiny hazardous parts for little kids under 3 who might put small parts into their mouth as food without any knowledge as toddlers.
In Pin Yin system of romanization,such conditions may be pronounced as "yihu xunchang de liwu for bizarre gifts and "xinfaming de wanyi'er." for new contraptions as toys. Here is a trial lesson for those who wish to have a glimpse of the Chinese language. For more elaborations,visit www.Amazon.com online book catalog and order "A Glimpse of the Chinese Language" in English as an educational gift published by the RAND Corpoation,a think tank in Santa Monica,California for thoughtful folks who would be looking forward to Olympic Games in Beijing 2008 and Expo 2010 for better understanding of the Chinese language to communicate with Chinese folks in China and in every nook and corner in the world. The United Nations has decided to use simplified Chinese for the convenience of international folks who would find the Chinese language easier from simplified Chinese characterstoys. Francis Shieh a.k.a. Xie Shihao on December 20, 2007

Chinese firm agrees to invest $5 billion in Morgan Stanley

Washington Post, December 20,2007 page D1,D3: As I have sent my blogs in the past,China is a friend of the United States and any economic cooperation or collaboration would be a matter of mutual benefit to both nations. Such evidence is clear to the watchers of Sino-American Economics in the days to come.
On page D1,D5,Lawrence H. Summers says the Fed is focused too much on fighting inflation and not enough on preventing recession. My comment: The decision makers are bankers or persons with financial clout,not folks in the mainstreets. Consequently,their vested interests can be detected by independent scholars or analysts. Ordinary folks are suffering due to slowdown of the economy as we have been seeing the happenings lately and in the days to come for mortgages.
In 1970s,I published an article in the Atlantic Economic Journal apropos of Purchasing Power Parity of the GNP per capita in different nations as indicator of wellbeing to be challenged at best. I would state categorically that such measurements to gauge standard of living are neither accurate nor reliable due to lifestyles of the peoples and other factors such as traditions and customs. We are unable to measure the immeasurables. In the 1990s,I read an article by Lawrence Summers with the same line of reasoning. As I claim to be a lifelong student of economics,I always try to compare notes with other economists to find out their rationale in order to be sure about the validity of my own thoughts to be substantiated or otherwise. I believe such way of learning is fair and independent to my pursuit of sound knowledge. Francis Shieh a.k.a. Xie Shihao. Dec.20, 2007.

Nanjing, the provincial capital of Jiangsu Province

Nanjing, the provincial capital with a profusion of historic sights, and the city of Suzhou in the same Jiangsu Province is the birthplace of my ancestors. I had the pleasure of teaching economics at Nanjing University of Finance and Economics in 2002 with fond impressions. Jiangsu is developing fast but still retains its charms especially in the small towns where traditional architecture can be seen as I lived in Rudong near Nantong. It is picturesquely set on the banks of the Yangzi, close to the magnificent Purple Mountain. The city of lakes is still enclosed within its grand city wall, and its streets are shaded by plane trees,southern capital of several regional kingdoms up to AD 220. It was China's capital under the early Ming Dynasty. It was also the capital of the 19th century Taiping Heavenly Kingdom and the first Chinese Republic under Dr. Sun Yatsen. Today, Nanjing is a fast developing city, with good restaurants and a lively night life. Altho the medieval city walls give the impression that Nanjing is a small city, it is a fast fairly spread out. A lot of ground can be covered on foot, but folks can use local transport, either the comprehensive bus service or taxis which are plentiful and reasonably prices. I plan to visit Nanjing again in January 2008. Francis Shieh a.k.a. Xie Shihao on December 19, 2007

Learning leads to intellectual utility(satisfaction)

Keep learning for fun. Spend time perusing at the books,magazines and newspapers. Broaden our horizon on our good earth. We can radiate warmth and sensitivity via such media. Creativity is significant to our frame of mind. We are born with our talents and we should cultivate such through learning. "Work and Study Cycle Theory" can be implemented and validated in the days to be as a lifelong student and a teacher simultaneously. The acronyms are:
T is for the truth.
E is for endurance or encouragement.
A is assurance.
C for care.
H means heart.
E - is efforts.
R - remembrance.
Giving is loving and it is more blessed to give for love! When there is love,there is no labor. Such way is to be dedicated to Yuletide season in such a timely manner,indeed! Francis Shieh a.k.a. Xie Shihao on Wednesday,December 19, 2007

Secretary of Treasury is back to defend foreclosures

Washington Post,Dec.18, 2007 page D1,D3: Liberals say that the Paulson plan is too timid given the millions of households at risk of default. Conservatives say the government is bailing out folks who made bad financial decisions and is improperly undermining contracts, which could discourage investors from making money available for home mortgages. My comment: There is no clear-cut pat answers to applied economics. It is a matter of perception and reception at best. Economics is an inexact science,similar to medical science. The second opinion is always good. Perhaps the third opinion would be better and the 4th might be the best?! Who knows the definite answers? There are those who don't know and those who don't know they don't know! This sounds icky or cocky but it is not untrue with humor plus humility. Hehehahahoho all the way to learn Economics without bounds or boundless to the utmost. That is the reason that I am always a student even though I started studying Economics in 1943. Francis Shieh a.k.a. Xie Shihao. December 18, 2007

Economics is relevant to ongoing happenings

Reflections of an octogenarian as a lifelong student of economics: Theory of the Consumer: Common Marginal Utility =Marginal utility of Price 1 over Quantity 1 = MUP2 over Q2... = MU of Leisure Time over Income forgone=consumer equilibrium. As we are consumers,we are interested in such Microeconomics as a point of reference.
Theory of Oligopoly: OPEC is perhaps the best known example of an international cartel. It is illegal in the US,however,internationally there are no restrictions on cartel formation. Food for thought,indeed! How about global oligarchy in the public sector? We need to study more in the years to come as centenarians. Nobody would impugn for such a learning pursuit with or without knowledge and evidence!
Gas, electric power and local utilities are natural monopolies. Consumers' objective is to maximize total utility and total cost. Any thoughts?
I am aware of the common sense of doing business: Total revenue - total cost = total profit. Profit is the goal for business. Reasonable or excessive? Where is the line of demarcation? Depending on the desires of the folks in charge and lifestyles of people in different countries. Ethics and morality should be stressed. Thanks for reading and have a great Yuletide season of material utility with spiritual satisfaction. Francis Shieh a.k.a. Xie Shihao on Tuesday,December 18, 2007

We are decision makers for our own daily function

It is good to realize that we are masters of our own destiny and we can be in control if we think three times before our action. I always wanted to teach since I was a teenager and I do know that teaching is learning twice with endurance.
I believe that intellectual pursuit is fun. Humor and intellect are inextricably linked. My students listened attentively to my lectures with my greatest pleasure. I would like to keep such memories forever. Humility earns me a place in the hearts of beloved folks. I shall ccontinue to be walking on this avenue of modesty,not because it makes me acceptable but because being free of ego is genuine liberation from mundane world of vanity.
Francis Shieh a.k.a. Xie Shihao on December 17, 2007 at 8.28 p.m.

Washington Post,Dec.17,2007 page D1

Americans are less pleased with U.S. services. Such survey measures an array of federal programs and services for the American customer satisfaction index by the University of Michigan and other groups. My comment: We are still regular taxpayers as our obligation but we demand satisfactory service with our rights!
Social Networking for the socially minded as the headline under Business section. To me,this is socio-economics as economists were making a pitch in 1970s in history.
Page D3:A photo of Chen Shui-bian with his smiles when went aboard of one of the 150 F16 jets after President George H.W. Bush lifted a ban on the sale of F-16s to Taiwan.
Query: Three U.S.Presidents have proclaimed that there is only one China and Taiwan is a part of China. Would it be proper for one sovereign nation to sell military jets to another sovereign nation as friendly diplomacy? Both USA and China are members of the Security Council of the United Nations for preserving peace. Selling such jets would or would not be regarded as friendly nations especially China has been making efforts in North Korea for non-nuclear proliferation for peace? I am a student of economics and we do need peace in the nuclear age. Nobody would impugn,indeed! Francis Shieh,a taxpayer since 20th century and a student of economics desiring peace and economic development for USA and China in the 21st century. Dec.17, 2007

Washington Post, December 16, 2007 page F1

Americans spend less on other things as gas prices and health costs rise. That is the Opportunity Cost principle in economics. Financial statement of the average American household's net worth may seem to be large as incomes but expenses are large as well. Earn more and pay more in USA. In China,however,folks earn less but pay less as well especially the subsidies from the government are noticeable recently as per CCTV-4 news. My comment: If an American retiree receives US$1,000 per month from Social Security benefits,he/she can hardly survive due to high cost of living in USA. However,if it is exchanged in terms of RMB 7000,he/she can live comfortably in China. Such case is similar to retirees from California to live in Mexico but don't drink the water as I heard when I was in California. Comparative studies would be the crux of the matter for students of economics to optimize his/her finance and to maximize the purchasing power of money in different countries. Economics consists of clothing,food,lodging and transportation costs in simple and basic terms for all folks on earth in this mundane world. Francis Shieh a.k.a. Xie Shihao. Monday, December 17, 2007

"The Right Road to America?" by Amy Chua of Yale Law School

The Washington Post,Outlook section,Sunday,December 16, 2007 Page B1 and B4: The author published "Days of Empire: How Hyperpowers Rise to Global Dominance-And why they fail." The author is alerted to White, Christian identity and Anglo-Saxon Protestant tradition as the core values of America. Her suggestions are: the labor needs and the increase of visas for highly skilled workers as human resources in the United States. In this connection,"Keys for Economic Understanding" is a useful reference for apprenticehip programs. She forced her daughters to learn Chinese Mandarin,"A Glimpse of the Chinese Language" is hereby dedicated for such a learning pursuit. Both works may be searched at www.ask.com online. The secret of America is to utilize the human resources to the fullest such as the needs of engineers and strategic goals to train linguists for critical languages needed by America in the days to come in the 21st century. Francis Shieh a.k.a. Xie Shihao. December 16, 2007

NYTimes.com/China with negative view

New York Times, Dec.15,2007 on page A1: China's seafood industry: Dirty water,dangerous fish in Fujian province. But I am alerted to the following headline:
US and China signed an agreement in Beijing to improve oversight of Chinese fish farms as part of a longer deal on food and drug safety. It is up to the readers to envision the positive or negative scenarios in the days to come. I would stress the positive for mutual benefits due to imported business for American consumers. Different folks do have varied ways of thinking but the headlines would influence US-China economic relations to some readers. It is up to the readers to form judgment in due course of time from empirical evidence. Francis Shieh a.k.a. Xie Shihao on Sunday,Dec.16, 2007 at 7.11 a.m.

Gold and antiques have intrinsic values

Paper currency may be fake and the counterfeiting of paper currency is likely to explode in the US in the years to come. Forgery is not difficult for papers but precious metals have values since the 18th century as money in circulation. I am a collector by reason of the intrinsic values of hard coins especially old coins as antiques that folks would hold as valuables in the years to come.
American consumers have been slow to demand the latest technology offerings as compared to China,Japan and Korea as published by THE FUTURIST magazine, May-June 2007 issue.
Economist Reynolds Griffith outlined the advantages and disadvantages as follows:
Advantages of digital money: Theft of cash would become impossible.
Disadvantages: Loss of privacy as firms would have the ability to gather data on buying habits.
My comment: The debits cards of major banks are already in vogue such as Citibank and Bank of America. Consequently, cashless way is already in operation nowadays. Any comments? Francis Shieh a.k.a. Xie Shihao. December 14, 2007

Wall Street Journal,Dec.13, 2007 pageB4

Iomega seeks Chinese foohold with Excelstor deal: An ambitious move into China while yielding substantial control to a firm owned by the Chinese government. The San Diego-based firm, known for removable devices that help computer users back up their data, said it agreed to buy Exclstor Great Wall Technology and Shenzhen Excelstor Technology in a stock swap valued at about $317 million. Here is another empirical evidence of Sino-American Economics. Dec.13, 2007

Washington Post,December 13, 2007 page D5

Fear on China side about the US economy apropos of the weak yuan to be related to China's holding US government securities of trillions of dollars worth of reserves in US Dollars. The fear on US side is the weak dollar and subprime lending crisis in the USA. US Treasury Secretary Paulson stated that China is a very significant part of the global economy and is to be integrated in terms of trading of goods and services and having a currency that is not market determined. Let us remember the globalization of all nations especially the impacts of USA and China. China's Vice Minister Wu told US officials that the press had hyped(hoopla) the safety problems, damaging the reputation with the implication that the American media are as pro-US as the Chinese state-media are pro-China. My comment: Equal opportunity for both nations with invested interests via media's bias in using the English language with varied interpretations. Language for understanding so Chinese should study English with the true meanings and Americans must learn Chinese language and culture for better understanding in the 21st century. "A Glimpse of the Chinese Language" in English is hereby dedicated for understanding of economics via the lifestyles,customs and traditions for mutual benefit in the 21st century. Such is desiderata,indeed!
On page D2: US Federal Budget deficit up 34.5% For November,the total amount was $98.2 billion,a record for the month. Trade Deficits increases as well: Commerce Department said the trade deficit, for October increased to $57.8 billion, the highest level since July, boosted by high oil prices and Chinese imports. The deficit with China jumped 9.1%, to $25.9 billion, a record for a single month. Some politicians blamed China for imported goods for trade deficits. My thoughts are with consumers in USA. It is common sense that folks are always interested in bargains to pay less to save money especially during the time of inflation caused by higher medical and health costs, energy costs plus insecure job opportunities. Charity starts at home and domestic needs are subject to the priorities of the leaders in the administration and in Congress. Let us wait and see the happenstance in the days to come. Mutual admiration on the positive is better than mutual accusation on the negative. Peace on earth and goodwill toward men and women on earth in this mundane word. Francis Shieh a.k.a. Xie Shihao. December 13, 2007

Common problems for USA and China

Washington Post,Dec.11, 2007 page A14: Gore acceepts Nobel Prize with call for bold action- Former VP Al Gore, accepting his Nobel PeacePrize on Monday,Called on the United States and China, the world's two largest polluters, "to make the boldest moves" on climate change"" or stand accountable before history for their failure to act." My comment: Such warning is another evidence of the dire need for cooperation and collaboration of two great nations on both sides of the Pacific for the benefit of two nations and humanity as a whole. R. Pachaukri shared the Peace Prize with Gore, "Myopic indifference to the crisis threatened further disease and malnutrition, and the swallowing of low-lying lands by rising seas. The United SChina have been roundly criticized by environmental activists as taking insufficient action to curb greenhouse emissions that scientists say are causing global warming. Gore lost to George Bush despite winning the popular vote in 2000. Here is my reasoning:k If popular votes are honored as true democracy,then Gore should have been elected as the President of the United States. But the political realities made Bush the president.

Hard work and attitude will overcome all barriers

I shall maintain my belief that faith,hope and love to be the secrets of success. The more I reach out, the happier I am. Folks would mirror the way I feel about my jovial mood. I am open with smile and say Hello to all. A stranger could wind up being my good friend with an active mind. I have my patience and perseverance in folks and my taste in general would make a shift toward betterment. I shall find reasons to love since love releases life. Kindness is a powerful and inspiring clout with proper perception and reception as a sponge. The universal macrocosm of my outlook would generate joy in this mundane world. The company I keep makes a great contribution to my mind set. Shakespeare said:"Life is as tedious as a twice told tale,vexing the dull ear of a drowsy man." I would say: "Life is full of nimble spirits when we find new things to do in anticipation of excitement with joy plus good emotion" Live and learn is my motto as an octogenarian. However,I still feel like a student from Shanghai,China in 1947 since I am always a learner to be humble and modest. That is the state of mind to be a "xiaohuozi" ad infinitum. Xie Shihao a.k.a. Francis Shieh. December 12, 2007 Any other scenarios? I am willing to hear from you,please? Thanks to readers during the Yuletide for glad tidings!

VALUES as I studied from 1940s at Georgetown University

Aristotle:"Excellence is an art won by training and habituation. Training is elaborated in "Keys for Economic Understanding"(1971) and Habituation means motivation via habitual diligence to be validated and implemented in "Work and Study Cycle Theory" (1978) I studied Greek Philosphers re Aristotle and Plato with China's Confucius and Mencius at Georgetown University Graduate School with the publication in 1950(www.loc.gov). Values are guides to excellence in thought and action as promoted by philosophers in the past. At present, values are standards which we strive to achieve. Values are practical habits that enable us as individuals to live, be successful and achieve inner joy in the mind. To be useful, values must be consciously held and be consistent but not contradictory. Some folks have conflicting values which prevent them from acting with clarity and confidence. To focus on values,we must develop our faith,hope and love as ideas and ideals that form a person's good character with proper demeanor of lasting significance in life. Francis Shieh a.k.a. Xie Shihao. December 11, 2007

What is Economics? Be alerted to expressions!

Positive economics may mean economic hypothesis that can be tested i.e. either confirmed or rejected as the case may be. However,value judgment may not be resorted and we do have value judgment. Here comes the problems since we all have our own value judgments.
Normative economics cannot be tested as it involves the use of value judgments to assess the performance of the economy.e.g. inflation rate is too high. That expression varies with individual's own situations. Disagreements occur among folks attributable to concerns of normative economic hypothesis since such is not to be confirmed or refuted.
Economic growth: Incomesj of all consumers and firms(after accounting for inflation) are increasing over time. Price stability: to prevent increases in the general price level. Francis Shieh a.k.a. Xie Shihao. December 11, 2007

P.J. O'Rourke published "On the Wealth of Nations

The lines to be cited: Wisdom demanded subjugation of ego, bridling of aspiration and sacrifice of self. Asceticism make us feel less like a dog in a doghouse! In the 18th century, money was made of precious metals.(I try to be a collector) Money doesn't buy happiness but rents it. A person has to balance such as work,sleep and leisure.My equation: Daily Fuction is equal to Sleep+ Non-sleep(Leisure,Study,Work) over time constraint. Money isn't everything. Love is what's valuable. Money isn't what's valuable. What is true value? Varies with individuals! A nation's power depends on economic success. Page 106:By holding $ and $-denominated securites, China is buying US debt. China is a friend of USA. China and the world are confident that $ is not going to be trash. Cambridge University separated the study of economics from the study of moral sciences in 1903. A little soon. Adam Smith simple principles: Consumption is the sole end and purpose of all production.(Being implemented in USA and in China) Smith took the meta out of the physics. Economics is our livelihood and just that. You better believe it from the School of Hard Knocks.
How simple yet so complicated for living in the 21st century. My recommendation is to have a marketable skill to supply the demand of a society."Keys for economic understanding" is hereby dedicated to skilled labor training for all.
William Freund, former chief economist for the New York Stock Exchange cracked a joke for us to keep in mind:" An economist is a fellow who knows 101 ways to make love and doesn't have a girl." That is cool and neat,indeed! Francis Shieh,a lifelong student of economics with humor to learn from Mark Twain,author, (1835-1910) 75 years in toto on earth in this mundane world.
Francis Shieh a.k.a. Xie Shihao on Monday, December 10, 2007

WashPost,Dec.9,07 page B3

Richard Armitage,former deputy secretary of state from 2001 to 2005 and Joseph Nye,former asistant secretary of defense who teaches at Harvard at present. They contributed to an article entitled: Stop Getting Mad,America. Get Smart with the following recommendations:
1. We should reinvigorate the alliances,partnerships and institutions. My comment: China Construction Bank is an alliance with Bank of America.
2. We should create a Cabinet level voice for global development starting with global health for the aspirations of people world-wide. My comment: US and China must work together for mutual benefit re human capital i.e. health is part and parcel of human capital. Cf. "Work and Study Cycle Theory"(1978) listed at Georgetown University online catalog.
3. We should reinvest in public diplomacy and to build people-to-people ties including appropriation to the Fulbright program. My comment: As a Fulbright Senior Scholar in Hong Kong,1989-1990,I do support such program for public diplomacy for US to have scholarly exchanges with China in the 21st century.
4. We should sustain our engagement with the global economy and expand the benefits of free trade. My comment: I have sent my past blogs apropos of the Law of Comparative Advantage in this regard. Secretary of Treasury Henry Paulson,Jr. goes to China on Decmber 12, 2007 with the same intent to promote more activities of trade of two nations.
5. We should take the lead in addressing climate change and energy insecurity by investing more in technology and innovation. My comment: China is alerted to such efforts and is working closely with American counterparts in this regard for strategic conference. As a point of reference, Australia has a dedicated scientist of Chinese ancestry to work for the benefit of Australia in the Pacific and for the entire humanity on global scale.
Francis Shieh a.k.a. Xie Shihao. December 9, 2007

China's economy and US economy as per media

Wall Street Journal, Dec. 8-9,2007: Page B1,B6- Credit Suisse aims to create Chinese venture. Underwriting may signal more access for Wall Street Banks. Credit Suisse won roles on stocks for IPO re Industrial and Commercial Bank of China and China Construction Bank of 9.2 billion. CCB is an alliance of Bank of America.
Economist magazine,Dec.7,2007 issue: page 86 - Losing faith in the greenback. Professor Eichengreen of the University of California,Berkeley said:"If $'s dominence is to end,those who take a grand sweep of history are backing China's curency(yuan)i.e. RMB as a big reserve currency of the future. $'s immediate rival is the Euro. My comment: Chinese products are selling well world-wide and Foreign Exchange Reserve is now 1.4 trillion with going upward trend in the days to come due to booming exports. Food for thoughts for students of economics apropos of Sino-America economics or US-China economic relations in the 21st century. Francis Shieh a.k.a. Xie Shihao. December 8,2007

US-China /Sino-American economic interests?

Washington Post, December 7, 2007 page D8: China plans subsidies for oil firms to help offset the gap between high international crude oil prices and controlled domestic fuel prices. The firms will receive rebates and will be exempt from paying oil import duties. Food for thought: Would it be advantageous for USA to provide subsidies to develop and produce more oil and to use other alternatives for energy consumption for the benefits of Americans? A query raised by a lifelong student of economics. Francis Shieh a.k.a. Xie Shihao on December 8, 2007

Travel would lighten my heart and stimulate my mind

Happiness is the dedication to my interests to have more communication with my economic target plus intellectual goal. Good action is a reflection of savvy economics. I shall look forward for serendipity to have travel opportunity on or before January 18, 2008 with my fingers crossed.
Hong Kong Mogul Li Ka-shing Mulls $60 million Facebook stake,published by the Washington Post,December 4, 2007 on page D5: Li, 79, was born in southern China and is known to have partnered with U.S. Internet firms in the past and helped them gain access to the Chinese market. The investment in Facebook, a start-up in Palo Alto, California would follow a $340 million investment in Facebook by Microsoft in October. The Microsoft deal valued Facebook at $15 billion. Francis Shieh a.k.a. Xie Shihao. December 6, 2007

Smile to life spirit and walking to have longevity

A growing body of research is offering tantalizing evidence that a walk might stave off Alzheimer's. There is an avalanche of neuroscience to support that exercise is good for the brain including blogging as I do everyday. Growing old may not lose our minds if we do blogs and take a constitutional(walk for health) It is never too late to be active in mind and in body with prayers and other mental actions. Francis Shieh a.k.a. Xie Shihao on Thursday,Dec.6, 2007

Economics of gender inequity for Prof. Chichilnisky

Washington Post(Dec.3,2007 page B2) published a story of discrimination apropos of a professor at Columbia University. I wish to cite a case in a Maryland college in 1983 and 1984 re two American professors of Chinese ancestry,one was forced to resign after 17 years as a tenured associate professor and the other was terminated after 18 years as a tenured full professor with four years record as Head and Chairman of the Economics Department plus publications and contributions to textbooks by professors at Harvard and Stanford. Why? Their face value is different from the white and black Americans with the varied face value in ethnicity. Asian Americans are usually considered as so-called foreigners by less educated folks who have not honored 14th Amendment of the Constitution of the United States. We are living in the 21st century now and economic situations are different as the result of the rise of China and other nations in Asia with economic clout. "It is the economy. Smart folks would understand!" Treasury Secretary Henry Paulson cited such situations in re the rise of China lifting the economy of the United States and humanity in his speech at the Asia Society on December 5, 2007 as per CCTV-4. Francis Shieh a.k.a. Xie Shihao. December 6, 2007

Washington Post,Dec.5,07 page A29

Gareth Evans,former foreign minister of Australia published "The Right Nuclear Red Line:" "Led by the US and the EU, with Russia and China cautiously supportive, the international community has been fixated on preventing Iran from acquiring any capacity to enrich uranium and to make nuclear fuel for civilian or military purposes. Here we can easily see Sino-American economics of mutual interests. Francis Shieh a.k.a. Xie Shihao on December 5, 2007.

Wealth of artistic, spiritual, and musical tradition of China

Chinese culture taps into universal meaning of life, nature and truth. Such may be seen during the holiday wonders and Chinese New Year Spectacular performances this winter season. Last year at Broadway's Beacon Theatre and Radio City Music Hall. Chinese style to grace the stage in USA. Xie Shihao a.k.a. Francis Shieh. Dec. 5, 2007

We the Paranoid:WashPost,Dec.4,2007

Eugene Robinson wrote:" We Americans like to think of ourselves as strong, rugged and supremely confident - a nation of Marlboro Men and Marlboro Women, minus the cigarettes and the lung cancer. Hugh Gusterson of George Mason University and Catherine Besteman of Colge College, had co-edited a book called "Why America's Top Pundits(with authority) Are Wrong." "The Insecure American" turned out to be a revelation - by turns alarming, depressing and laugh-out-loud amusing - as scholar after scholar presented research showing just how unnerved this society is. Catherine Lutz of Brown Uniersity reported on her studies of what IKE called the "military-industrial complex." She noted that the immense resources devotes to war-making are based on assumptions that anthropologists might not accept as given - that war is embedded in human nature, and therefore can never be consigned to our barbarian past, as was done with slavery. To recap: We're afraid of one another, we're afraid of the rest of the world, we'are afraid of getting sick, we're afraid of dying. Maybe if we study our insecurites and confront them, we'll learn to keep them in check. My comment: Faith,hope and charity would be the motto for living in this mundane world. Francis Shieh a.k.a. Xie Shihao. December 5, 2007 at 6 a.m.

Auto makers to unite USA and China

Wall Street Journal,December 4,2007 page A1: Accelerating growth: Chery auto- low costs,high output,attract global partners,US Chrysler's leap of growth.
New York Times,December 4, 2007: page A23: IRAN -win without war. Washington Post published a feature article by the former National Security Head re Sino-US cooperation to influence Iran for peace instead of war. Francis Shieh a.k.a. Xie Shihao on Tuesday,December 4, 2007

UN: A New Green Economics-China and USA

Ban Ki-moon i.e. Pan Ji-wen ( Pin Yin system of romanization apropos of cultural affinity of China and Korea)published in the Washington Post,December 3, 2007 page A17:(Cf. A Glimpse of the Chinese Language" www.rand.org for reference.)
We have read the science. Global warming is real, and we are a prime cause. China is poised to surpass the US as the world's largest emitter of greenhouse gases. China is on track to invest $10 billion in renewable energy,second only to Germany. Research by the University of California at Berkeley indicates that the US could create 300,000 jobs if 20% of electritity needs were met by renewables. The scientists have done their job. Now it is up to the politicans. Here we can detect the decision makers are leaders of nations i.e. the political economy is in action in the 21st century. Francis Shieh a.k.a. Xie Shihao, a lifelong student of economics. Dec.3, 2007

Music with harmony and find beauty in art

USA and China are to be supportive with art and music. Chinese language is a form of art and music. Believe in the essential goodness of humankind from philosophy in both nations. Humility and graciousness will bring spectacular results. All of us shall encounter solitary path but not a lonely one. Never be astounded and make a difference to have influence over our immediate circle. Meet the right folks at the right time and do the right thing. Gentle and sweet winds blow through our lives and strive to love and be loved with inner muse. Embrace our status as a shining example with knowledge and wisdom. Turn up the charm and make impressions for kindness.
Economics is about people and people must realize the only way to success is peace and development. Xie Shihao a.k.a. Francis Shieh on Sunday,December 2, 2007. P.S. I lived in Michigan on December 2, 1962,45 years ago!

Ecology,Economics of Costs

The economics and environmental sustainability of corn ethanol are improving, benefitting from some of the same technological advances that are making cellulosic ethanol possible. Numerous factors affect retail prices of food:
Labor costs- about 38 cents of every dollar.
Packaging,transportation, energy,advertising and profits account for 24 cents.
Inputs of food such as grains and oilseeds- 19 cents.

Above data are derived from US Agriculture Department with approximate figures.
No data from Brazil and China yet.

Fancis Shieh a.k.a. Xie Shihao Dec.1,2007

Move my life around and invigorate my moxie

Moxie as Xie to be modeled with pep everyday. Life responds in peace, kind and forgiving manner with prayers. Brainstorm with friends and then go for in-depth analysis to stimulate my intellect. I always meet nice folks in the learning process. Charisma is high in my circle of friends. Keep charming my friends with my smile that costs nothing! Any situation should be mulling over until I find a good solution. Checks and balances to make sure things are OK. I have a feeling of making contribution with self-esteem as a lifelong student. Life relies on aesthetics and asceticism with spiritual joy. Make myself available for friendship to all folks in the name of humanity with the clout of incredible persuasion. I respect others with their way of thinking. That is my way of life in a jovial mood everyday! Life is worth living in this mundane world. Xie Shihao a.k.a. Francis Shieh. December 1, 2007. 37 degree in the morning-chilly!