Culture page: Bishop Aloysius Jin Luxian is cited in St.Ignatius Cathedral in Shanghai,China. I taught at St. Ignatius College,1945-1947 with happy memories.
Economy page: China is the factory to the world;
70% of world's umbrella made in China;
80% of world's buttons made in China;
72% of US shoes made in China;
50% of US kitchen appliances made in China;
85% of artificial Xmas trees made in China;
9% of Chinese goods end up on Wal-Mart shelves. Ordinary American consumers shop at Wal-Mart to pay less for Chinese products as evidence of benefits of trade to validate the Law of Comparative Advantage in economics.
Thomas Tank engine train set would mean 6 weeks Chinese factory workers' wages i.e. average about US $200 per week. In the USA,it would cost $1200. The point is PPP i.e. Purchasing Power Parity. That is the reason why international workers come to USA to earn US$ and spend US$ in their respective nations as the practice of International Division of Labor. Such is Sino-American Economics Lesson One or Chapter One: Purchasing Power Parity to be known to readers of my blogs.
Francis Shieh a.k.a. Xie Shihao,an observer from Shanghai in 1947 to watch international division of labor "to optimize and maximize" as an economics-savvy and user-friendly online student on April 26, 2008 P.S. Shanghai stocks skyrocket 9.3% -Wall Street Journal,April 25, 2008 page C2. Folks in China are aware of the market economy in evidence!
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