Friday, February 29, 2008

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

Bad Samaritan: The Myth of free trade and the secret history of Capitalism

Economist Ha Joon Chang of Cambridge University published the crisp, contrarian history of global capitalism. $26.95 Bloomsburg Press, New York 2008 Just published in Feb.2008. In 2005 Chang was awarded Leontief Advanced Prize for Frontier of Economic Thought. He is a former researcher at the World Bank and an acolyte of Nobel Laureate Joseph Stiglitz,a free trade critic. John K. Galbraith of Harvard won the same prize as Chang did with advanced economic thought. A book review on Galbraith' "Almost Everyone's Guide in Economics" was published by the Atlantic Economic Journal in September 1979 for reference. "Work and Study Cycle Theory" may be regarded as reinforcement of the traditional Confucianism as Chang cited on page 189 with elaborations. There is a link between Confucianism and the economy in China. To wit: The proper mix of the public and the private sector as evidenced in the Chinese economic system with success during the recent years known to all.
As of February 29, 2008,a barrel of crude oil costs $103 with impacts on consumers in USA and in the world. Gold and other metals look shinier indeed due to credit crisis, inflation and financial negatives. What would be the traditional inflation hedge? I would recommend the investment in human capital. "Yi ren wei ben" as the same rationale as cited in "Keys for Economic Understanding" (1971)
American middle class incomes are stagnating as empirical evidence for a new president to change the course for the US economy after November election to be inaugurated in January 20, 2009. Xie Shihao a.k.a. Francis Shieh,Feb.29, 2008

Thursday, February 28, 2008

It is a matter of rhetoric re recession or slowdown!

Unconventional economic downturn? President said "there is no recession!" If the word Recession is uttered by the leading political figure,folks would be nervous at the stock market who react and overreact when their noses are twitched. Political necessity of official optimism! We better read between the lines and read the headlines to understand the moods of the people in USA with high costs of energy prices with increasing health care costs plus metro fare increases... to be reflected in other costs in the days to come. "Bernanke signals rate cuts on concern about economy": the headline on page D1 in the Business Section of the Washington Post,Feb. 28, 2008. Inflation is here and we are certainly aware of such issue in Macroeconomics. Such is the common ground between USA and China in this regard. Francis Shieh a.k.a. Xie Shihao on Thursday,Feb.28, 2008.

Czech Prime Minister stresses No. 8 in USA. Why?

C Span Radio on Feb.28, 2008: An eloquent speech by the Prime Minister of Czech Republic stressing Czech history of the number 8. FYI, US Treasury Department issued bills with 8 to imply good fortune during the Chinese Lunar New Year as good omen for positive US-China relations in the 21st century.

8 means Facai in the good way but 8 may imply Fachu for missile launching.

Peace or conflict? Let us hope for the wellbeing of humanity in the days to come.

Random thoughts from a lifelong student of economics re the global dimension to include Sino-American Economics as built-in factors.

Food for thoughts for all. Thanks for your inputs if warranted. Francis Shieh a.k.a. Xie Shihao. Feb. 28, 2008.

Wednesday, February 27, 2008

Washington Post, Feb.27,2008 page D1

Slow economy, high prices raise specter of stagflation: I share such headline in my past blogs. Cf.www.Google.com for more references. Businesses tend to pass on the increased costs of their purchases to consumers. Such common scenes can be seen in USA but in China,economy is booming even though inflation is also a problem.
For the past 30 years, American economy has been on a roller coaster ride. In the 1980s,US economy was unproductive, unimaginative and self-indulgent, doomed to fall behind Japan and Germany. Now,China's economy is most progressing with the culture of China. Business Week,March 3, 2008 issue has details as I have already sent my blogs. www.Google.com for my line of reasoning as a lifelong student of economics.
Page H1 The Russian Development Strategy to 2020 can only achieve a breakthrough with renewed emphasis on human capital. Human capital must emerge as the main factor of development and growth. Such rationale may be reinforced in "Keys for Economic Understanding" (1971.) Times have changed but human capital is still the capital of human being via training and education without time frame. No constraint whatsoever in my judgment. Francis Shieh a.k.a. Xie Shihao. Feb.27, 2008

Business Week, March 3, 2008 on China

China is the 21st century's land of opportunity. Cf. www.accenture.com/research-articles

China has been the most attractive emerging market of all. How to win the wallets of China's consumers? Such pursuit may be harder than you think. China's modern consumers have many unique traits.

As a native of Shanghai,China, I am delighted to read such observations.

"A Glimpse of the Chinese Language" in English is hereby dedicated to all those who would explore the China market with the means of communication via the Chinese language. Olympic Games will take place in Beijing 2008 and Shanghai Expo in 2010. It is listed at www.Amazon.com online book catalog for reference. I provide such info for the best interest of readers for educational purpose without any commercial intent since such work is the property of US government. www.rand.org for information.

Francis Shieh, a lifelong student of economics a.k.a. Xie Shihao on February 27, 2008

Tuesday, February 26, 2008

Pin Yin is used for Americans to understand the Chinese language initially

To my students and readers, ALOHA! Language and economics are intertwined and interwoven. The following may be useful for learners to understand that topnotch students are superior than the teachers with noble sentiments plus offender to offer contrition using metaphor with inkling as human errors in situations by citing Buddhist teaching: -

Qing chu yu lan
Qing bu zi jin
Ku hai wu bian
Hui tou shi an

If you know the above Pin Yin in the Chinese characters apropos of ideogram,your Chinese maybe rated as level 2 in my judgment. Congratulations! Xie Laoshi a.k.a.Xie Shihao or Francis Shieh on Tuesday,Feb. 26, 2008 at 8.58 p.m.

I hereby revamp my definition of happiness

Good Morning to my readers, I will hit a spiritual target of truth. Noticing, praying and pondering about the meaning of life. Such activities would deliver me from the humdrum into the divine with a holy soul in the days to come. I thrive on spontaneity. What is upcoming everyday would make me feel more alive with action. I shall strive to be a communicator for peace and development. Tranquility and equanimity would be the sweetest things in mundane life. I would trust folks who would be the adventure for the day. I have been available as I was offered my first teaching assignment by virtue of my enthusiasm as told by the person in charge in Shanghai in 1945 with fond memories of such serendipity. I am never through learning as fun on daily basis. Francis Shieh a.k.a. Xie Shihao on Tuesday,Feb. 26, 2008 at 6.52 a.m.

Monday, February 25, 2008

McDonald starts home delivery in Shanghai

WTOP Radio announced this morning that McDonald in Shanghai delivers food to customers. Perhaps other cities would follow suit in the days to come as my comment. It is good news for visitors for Shanghai Expo in 2010. Xie Shihao,a native of Shanghai spreads the good news to all readers. Feb. 25, 2008

Year of the Rat is being honored at Walter Reed Army Hospital for Mickey Mouse attitude to address patients as guests. Such is Sino-American economics in terms of enticing visitors to Shanghai and Washington,D.C. for businesses. Equal opportunity for all folks to be aware of such news for fun. Feb. 25, 2008

UK Prime Minister stresses Apprenticeship for youth

C-Span Radio on Feb. 24, 2008: In order to solve youth unemployment,apprenticeship training is emphasized by Gordon Brown,the PM in UK. Cf."Keys for Economic Understanding" ( www.ask.com ) Such book is dedicated to American youth seeking employment with a technical skill and such training is in dire need in China as well. Here we can detect the desiderata of young folks regardless of nations. That is a part of globalization of the development of human capital. "Yi ren wei ben" in Pin Yin is also cited by leaders in China for education and training in the 21st century. The above mentioned work may be searched at www.Borders.com to click used book for information for readers.
"XIAO" is usually positive. However,sometimes it has opposite meaning such as "xiao li cang dao" i.e. a knife is hidden under smiles or "xiao mian hu" i.e. tiger with a smiling face referring to an outwardly kind but inwardly cruel person. Watch out for folks,some folks are nice and others may be mean. That is the reality in this mundane world. I have met such people in my life with regret but I just laugh it off to forgive such negative encounter. We must be positive in every way in order to live a happy life on earth with our limited tenure as centenarians. Xie Shihao,thanks from a hero of poetry in name only. Feb.25, 2008

Sunday, February 24, 2008

"Greenspans's Bubbles" by Fleckenstein and Sheehan

UPDATE: Commentary of Federal Reserve from newest publication with the Subtitle: The Age of Ignorance by Fleckenstein and Sheehan. McGraw-Hills. 2008. Marc Fabor,editor of the Gloom, Boom and Doom Report: After reading Greenspan's Bubbles,you'll have no respect for the FED: The authors demystify the belief that the FED solves problems when, in fact, it is directly responsible for a colossal destruction of wealth of the median household and of the U.S. currency through its irresponsible monetary policies. Professor John Kenneth Galbraith had such vision in saying that US economy is in a mess apropos of Alan Greenspan. Cf. Keys to Economic Understanding Kendall Hunt Publishing Co.,Dubuque,Iowa 1976. www.ask.com for reference. George Santayana:"Those who cannot remember the past are condemned to repeat it. "qian che zhi jian" may be cited in the same line of reasoning. Prof. Galbraith made the cute remarks of wisdom:"There are those who don't know and those who don't know they don't know." Free trade should be promoted and protectionism is to be condemned by virtue of the Law of Comparative Advantage. Such happening is applicable to the present Sino-American Economics in the timely manner. The goal should be designed to maximize people's happiness. Cf. Equation of Happiness in my past blogs. In short,Economics is dedicated to study how leaders and folks allocate resources among alternative priorities. Guns or Butter is the simple example for such understanding. Having fish or the palm of the bear is known in Chinese idiom. Such illustrations can also be found in any economics textbook.
C-Span Radio, Feb. 24, 2008 re Nuclear Danger: China has conservative nuclear status i.e. China seeks peace and economic development but other nations may have negative scenarios for nuclear power. That may cause danger in the 21st century as per C-Span radio discussions this morning.
Francis Shieh a.k.a. Xie Shihao on Sunday,Feb.24, 2008 at 3.25 p.m.

State of the Economy

Economists expect personal income and spending have grown about 0.2%. We can detect the arrival of stagflation as I sent my blogs in the past. FED chairman will deliver report and testimony to Senate Banking Commitee on Feb.28th but will have the same tone and language as the testimony on Feb. 14th in the forecast and the report on Feb.20, 2008. The financial firms are the core of global infrastructure, and they must be stabilized before the economy moving ahead. The outcome would depend on the players with international financial clout to be involved with such games for globalization. Francis Shieh a.k.a. Xie Shihao on Sunday, Feb. 24, 2008

Saturday, February 23, 2008

Washington Post,Feb. 23, 2008 Page A16,D2

Olympic Commitee officials said they have full confidence in the food being supplied for the Beijing Olympics and will have their athletes follow the same meal plan they have used for the past two Games. My comment: I spent 4 weeks in China from Jan. 21st to Feb.18th and enjoyed the delicious and delectable food in Shanghai at reasonable prices for local folks. However,food prices in other places are same as in USA with high cost,such as Starbucks coffee of US$4 a cup in Nanjing.
China will make the yuan more flexible and use interest rates to curb inflatin that is projected to remain high through June. The Yuan's appreciation has helped to rein in import prices. The Yuan has risen 16% since the end of fixed dollar link in 2005 as China tries to prevent the world's fastest growing major economy from overheating. Let us wait and see the happenings in the days to come. Francis Shieh a.k.a. Xie Shihao on Feb. 23, 2008

Thursday, February 21, 2008

Thoughts on a just society in this mundane world

I agonize because in this land of milk and honey, one of every five kids grows up beneath the poverty line.
I agonize because in this land of the free, minorities are shackled as second class citizens with discrimination.
I agonize because thousands upon thousands of women are battered by the men who vowed to respect them, untold kids are abused by the barbarians who brought them into being and we mouth mealy platitudes about a "Laotianye" who cares for everyone.
As I am outspoken about I consider the moral failures of a modern society, from poverty and hunger to capital punishment, environmental degradation, treatment of the elderly and the war in Iraq.
Washington Post,Feb.21, 2008 on page A3: China and Vatican conflict is easing: The distance between the two sides is getting shorter and shorter as Olympic games will take place in August 2008 to welcome Christians who endorse faith and moral regardless of nationality or citizenship in this mundane world. Moreover,Christians are Christians regardless of the so-called underground or open in the ecumenical unity as the Holy See has spoken to the world already. Francis Shieh a.k.a. Xie Shihao on Thursday,Feb.21, 2008

Washington Post,Feb.21, 2008 Your interpretations,please?

Page D7: 3Com Pulls request for buyout review: Network provider 3Com said it along with Bain Capital and Chinese partner Huawei Technologies, withdrew an application for federal review of its $2.2 billion acquisition by Bain and Huawei. Lobbyists said the move could provide a backlash from China, which also saw a 2005 bid by Chinese owned CNOOC to buy Unocal fail after widespread criticism by US lawmakers. President Bush said he will not use the Olympics as an opportunity to criticize China, nor will he change his plan to attend the Games in Beijing this summer. It is a known fact that China is holding $1.3 trillion US Dollars in Foreign Exchange Reserves. My comment as an independent lifelong student of economics: "It is the economy,Smart or inexpert person." Both USA and China have nuclear powers and both nations are members of the Security Council of the United Nations seeking peace and economic development. In such line of reasoning,the protection of national security would be a waste of humanpower for any investigations. From my own personal rationale, I would take the positive scenario for US-China economic relations in the 21st century for mutual benefit with true understanding without any fear having good intent of harmony between two nations on both sides of the Pacific. Francis Shieh a.k.a. Xie Shihao on Thursday,Feb.21,2008

Psalms 24-1 Spirituality for all folks

"The earth is the Lord's and all it holds; we are only temporary tenants." It is wise to be reminded so that we should be happy and make contributions in this mundane world with hehehahahoho all the way to be centenarians. Laughter begets longevity for longer life to do our best for humanity on earth. China is the most populous nation in the world and USA is the most developed nation. Two great nations must share human resources for all humankind in the name of "Laotianye" i.e. Our Lord. That is the common Sino-American economics for eternity with true wisdom,indeed! Francis Shieh a.k.a. Xie Shihao on Thursday,Feb. 21, 2008 at 7.23a.m. in Maryland,USA with four week's trip to Nanjing,Rudong and Shanghai for Lunar New Year's observations with Chinese culture.

Wednesday, February 20, 2008

Cronkite commentaries: China: Superpower in the making

Time has come for United States, far east giant(China) to cooperate. As China's economy has grown, so has its production of greenhouse gases. The US and China are the world's biggest polluters. China has begun to recognize the costs of global warming, and the US is about to get new leadership. Maybe these two giants could cooperate for their own sakes and the good of the world. As Cronkite said, it is an idea, a great idea! Such idea was mentioned in "Work and Study Cycle Theory" listed at the Georgetown University library online since 1978 if interested in such positive scenario. It would be wise for two great nations to understand the potential benefits on both sides of the Pacific. "A Glimpse of the Chinese Language" is so dedicated for better understanding via communication i.e. language is a means of better understanding to avoid misunderstanding as my scholarly goal for USA and China to cooperate and collaborate in the 21st century and beyond...
Washington Post,Feb.20, 2008 Pages D1 and D5: Opportunities in China lure scientists home. Many expatriate scientists find reasons to return to China. My comment: Many aged folks find reasons to return to China as well. Why? Home for the aged is less expensive and affordable in the Chinese currency i.e. RMB but not affordable in US$. Morever,labor is less expensive to take care of the aged but caretakers are too costly in USA. Francis Shieh a.k.a. Xie Shihao on Wednesday,Feb.20, 2008

Tuesday, February 19, 2008

Laughter is a prescription for good health

Laughter is the best medicine: "Xiao yi xiao shi nian shao" i.e. laughing makes you 10 years younger. As an octogenarian,when I laugh 6 times,I would reduce 60 years as a "xiaohuozi" again i.e. at the age of 20,when I graduated from St. John's University in Shanghai in 1946. This is not a dream but the mindset or "xintai" in Pin Yin system of romanization. Cf. "A Glimpse of the Chinese Language" listed at www.rand.org for reference. Have a great day for all the readers. I got back from Shanghai yesterday with lots of reflections about my trip in China. Francis Shieh a.k.a. Xie Shihao on Feb.19, 2008 at 8 a.m.

Thursday, February 14, 2008

Globalization involves Sino-American economics

When American economy and Chinese economy work together in the days to come,it would be a matter of mutual benefit on the right course of economic cooperation and collaboration in trade and other economic activities. Francis Shieh a.k.a. Xie Shihao on Feb.15, 2008 in Shanghai,China. I shall make more elaborate comments when I get back to Maryland after Feb.18, 2008

Sunday, February 10, 2008

I am in Shanghai now and be back to USA on Feb.18

Greetings to all, Living in the farmland in Jiangsu is certainly a learning experience. As a city guy,I am not used to such way of life. However,it is worth such ordeal during the snowstorm. I am staying at JinJiang and shall visit my sister for lunch everyday for family reunion during the Lunar New Year. Today is January 5th according to the Lunar Calendar with firework and the arrival of the Spirit of Fortune(Caishen) Money is the goal for most folks in China and in USA as well. But money is not the only goal in life for happiness. Happiness is not material consumption(MONEY IS REQUIRED) over desire only,intellectual pursuit and spiritual satisfaction plus good health must be added to the numerator over the denominator of Desire. It is my conviction.But how many folks would endorse my philosophy of life? Have a great day to my readers or former students that I cherish good memories in the past. Francis Shieh a.k.a. Xie Shihao on Feb.11, 2008 in an Internet Bar in Shanghai, China.

Tuesday, February 5, 2008

Lunar New Year's Eve: Cleaning and hanging couplets

It is fun to watch such custom and tradition in a farm family in Rudong under Nantong in Jiangsu Province,China. The weather is improving and folks are out for the Spring Festival with fireworks later and the character "FU" hanging up on the wall and windows to anticipate blessings from God in China. You better believe such faith when folks venerate(chongbai) ancestors and worship "Laotianye" i.e. the Supreme Authority in Heaven to bestow blessings to folks before the advent of the New Year of the RAT i.e. Mickey Mouse to be liked by adults and kids alike in the Middle Kingdom. Xie Shihao a.k.a. Francis Shieh on Feb. 6, 2008