On page 353: China now accounts for about 70% of American imports of women's shoes. New York Yankees baseball cap - made in China, clock radio,USB Flash Drive for computer and laptop computer et al. were all made in China.
A former teacher in China gave up her teaching to make socks at home. She is a millionaire as the owner of Zhejiang Socks. She is more interested in money rather than education but she has the freedom to do so in China now.
Page 354: China handed out public land, gave tax breaks, and built transport infrastructure to encourage private enterprises with the most remarkable success. Nations are reliant on trade with China in globalization in the 21st century.
It is an unconventional homegrown achievement ignoring to follow any Western blueprint. My comment: It is the empirical evidence of success under China's market system.
The author of the book got a card from his former student at Wuhan University in China that had the bracing message "Improve oneself, promote perseverence, seek truth, and make innovations" Such motto would fit into the economic model for economic growth in China and in USA as well.
Page 355: "To be sure, the ultimate economic test of a society is not rapid growth but attaining a high level of income. China's per capita income is still only 1/6 of that in the USA" Economist Easterly's view may be referred to the SEQUEL about the Purchasing Power Parity as I sent my previous blogs for understanding.
The ultimate test of economic success is the contribution which economic activity has made to the goal of human happiness. To wit in Pin Yin system of romanization:
"Dushu" i.e. studying all the time to validate and to implement "Work and Study Cycle Theory" Cf. www.ask.com
"Jiaoshu" i.e. teaching is learning twice to improve one's understanding the truth.
"Xieshu" publishing or blogging for the benefit of readers to learn as I would learn on daily basis. "TO LIVE is TO LEARN" is my way of life! Thanks for your understanding of my way of living.
Francis Shieh a.k.a. Xie Shihao,a student in China since 1926 and in USA since 1947. March 21, 2008 at 10.45 a.m.
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