Chinese firm seeks US foothold: " Beijing-based Overseas Investment Research Center under Ministry of Commerce said efforts to block the deal amount to discrimination, an attempt by the United States to protect key industries like telecommunication for national security reasons." My comment: As a student of economics,I would envision such deal as a matter of mutual benefit. Since we are living in the nuclear age and mutual cooperation would be the only way for survival of humankind. Moreover,China holds US government securities for investment as an indication of China's trust of the United States. Ponder such happenings with positive scenarios for understanding.
ECONOMIST magazine: World in 2008: Special Section on China with cover page of US housing prices going down and Chinese stocks equity prices up. On page 24: The world need to work at enticing China and America into an agreement in terms of socio-economics. On page 108 China's GDP per capita $2,960 PPP $9,700 vs US GDP per capita $47,330 PPP $47,330 on page 110. From these numbers,we see the difference of about 5 times for PPP(Purchasing Power Parity) used as a measure of standard of living. I questioned such measurement in my article published by Atlantic Economic Journal in 1970s and Lawrence Summers published an article in 1990s with the same line of reasoning. I would maintain that lifestyle of the people i.e. custom and tradition are not taken into consideration to measure standard of living. Ponder my thought for your understanding if warranted. Francis Shieh,a lifelong student of economics. Jan.7,2008.
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