China has Olympic fervor: Global recognition of progress

Washington Post,Feb.29, 2008 page A1mA15:Beijing Olympics coincide with the 30th anniversary of Deng Xiaoping's decision to open the economy to private enterprise and engage with the world,giving the party a second framework for celebrating its achievements. China expects to attract an estimated 500,000 tourists and 4 billion TV viewers aroiund the world. Such gathering will foster friendship between Chinese and people from around the world. China is showing the world of its development. I visited China twice in September 2007 and in January 2008 again for 7 weeks and I am impressed by the achievement when I compared with China when I left Shanghai in 1947. Francis Shieh a.k.a. Xie Shihao on Friday,Feb. 29, 2008

Washington Post,Feb. 29, 2008: Bernanke,FED Chairman doesn't see stagflation. (Political necessity of official optimism)However,both fiscal and monetary face some additional constraints.(Rhetoric) Headline: Picture,however,isn't pretty on pages D1 and D4. That means that GDP rose only 0.6% in the 4th quarter,disappointing analysts. Bernanke described the features of the downturn: "I guess as a Russian novelist once said, unhappy families are all unhappy in their own way, and every period of financial and economic stress has unique characteristics. Such testimony is not a cheerful thing. More American families are unhappy due to the high costs of energy,health care and other issues. In contrast,China's GDP is moving fast with successes. There are issues in Sino-American economic relations. Such balancing acts will be performed by the role of US Treasury Secretary Henry Paulson,Jr. with Vice Premier Wu Yi in charge of China's economy in the days to come. Francis Shieh with my views of Sino-American economics. 2/29/08