Sunday, August 31, 2008

US Mint celebrates a once-in-a-century event:Gold et al

The number "8" traditionally is associated with wealth and prosperity in Asian cultures. The 8-8-08 Double Prosperity Set features two gold coins inscribed with the year 2008: a one-half ounce 22-karat gold American Eagle Uncirculated Coin and a one-half ounce 24 karat gold American Buffalo Uncirculated Coin. This is the way to celebrate the good fortune in life. Such event bears the signature and chop mark of the United States Mint Director Edmund C. Moy,an American citizen of Chinese ancestry. The content and purity are guaranteed by the US Government. www.USMINT.GOV

US Labor Secretary Elaine Chao used the Web site to declare the Olympics a unique opportunity for the Chinese people to demonstrate the progress they have made and their sincere desire to engage with the world at every level. Cf. "A Glimpse of the Chinese Language" (1965) www.rand.org or www.Amazon.com for reference on page 8 re the same rationale for China to be open to the world and for economic engagement of US-China or Sino-American economics from the 20th century to the 21st century and beyond...with such vision.

Inflation in Asia-Pacific seen rising in 2008 with rants, raves and concerns for the readers to note the previous blogs citing FED Chairman and monetary policy apropos of Sino-American Economics in the days to come.

Francis Shieh a.k.a. Xie Shihao on Sunday,August 31, 2008 at 9.45 a.m.

Saturday, August 30, 2008

John E. Schwarz:Tax.Spend.Create great jobs

Schwarz, a professor emeritus at the University of Arizona published his article at the Washington Post,August 30, 2008 on page A15:

The history of today's economy demonstrates that, to the contrary, govermental activism has been indispensable to the growth of many of our most prosperous industries and well-paying jobs in the United States. Such view is a strong rebuttal to Friedman's Theory in my past blogs. Schwarz wrote: " The government has responsibility for national security,defense,protecting public health, providing education and the like." My comment: Positive externalities are clearly noted from graphic presentations in my lectures three decades ago. Schwarz stated further: "A pivotal role for government is to offset lapses of the free market that confine the market's ability to generate basic, large-scale innovation on its own. The federal government has arguably been as important to the creation of new technologies, industries, jobs and wealth within the private sector over the past half century in USA as has the private sector itself." This is identical to my past blogs apropos the mix of private and public sectors in any economy. Here we may readily detect the nature of China's economy with market system. The common ground of Sino-American Economics is hereby validated by such empirical evidence nowadays.
Francis Shieh a.k.a. Xie Shihao. August 30, 2008.

Wall St.Journal and New York Times:8/30-8/31/08

Anxiety over the economy tops Democratic candidate Obama's agenda. Whether you are a spender or a saver,all folks are very much concerned about prices we pay for goods and services. Cf. My previous blog re FED Chairman Bernanke with my comments. Chinese leaders and folks are alerted to inflation as well. Here is the common ground re Sino-American Economics on daily basis. Nobody would impugn,indeed.
Chinese extravaganza uses valley in Henan Province as a new light backdrop for marketing to be seen at NYT with photos. Such new image is noted by tourists at present before and after Olympic Games. American media go all the way about China.
China surpassed USA in the number of Internet users. China stresses rich cultural heritage and tradition of Confucianism. My comment: Such is my ideal goal since 1940s but went astray during the cultural revolution. It is gratifying to know that Confucianism is in the minds and hearts of the folks in China and outside China by virtue of Chinese ethnicity with knowledge of Confucianism learned at home or in schools. Cf. Philosophy of Confucius and Mencius via www.ask.com and www.Amazon.com
Francis Shieh a.k.a. Xie Shihao on Aug.30, 2008 at 3.40 p.m.

Recommending "Ben Bernanke's FED" by E. Harris

Published by Harvard Business Press. 2008. Just out to the readers.

In these turbulent times, how can we interpret Bernanke's actions - and gauge their impact on our investment, and the world? My comment: He is the most powerful economist who had academic background with the wise judgment of a scholar to manage US monetary policy. Let us wait and see the upcoming happenings. In the Model of Keynesian Cross,there are inflationary and recessionary gaps that can hardly be the optimum. Perhaps Irving Fisher's "Quantity Theory of Money" would do the trick? Who really knows?(sic) Cf. Atlantic Economic Journal back issue for such topic. Economics is about the folks in the world with changes and choices as the basic understanding of Economics.

Author Harris is Lehman Brothers' Chief US Economist, demystifies the policy choices and pronouncements of the FED chair - and explains how they influence the global economy.

How do Bernanke's studies of the Great Depression inform his policy decisions? Why does he seem to have so much trouble communicating with the markets? How is he handling the housing crisis? And how will he manage the next asset price bubble? Understanding Bernanke beyond the headlines is critical to predicting business and financial trends. It would be the human judgment in the positive or negative scenarios.

Francis Shieh a.k.a. Xie Shihao,a lifelong student of economics. August 30, 2008

Friday, August 29, 2008

Correction:WSJ,8/29/08 page A16 instead of A10 et al

RE: John Sullivan's rebuttal to Milton Friedman's Theory in the previous blog.

WSJ Aug.29th page C2: Bank of China's profit climbs 43% in 1st half net profit but doesn't match Industrial and Commercial Bank of China's 57% increase in net profit.

New York Times,Aug.29,2008 page A22
Linda Landesman wrote: "My trip to China showed me that the world that we are competing in has changed. Our potential is limited if our infrastructure fails,if our citizens are not educated and healthy, if sending work offshore causes our skills to deteriorate and if we don't focus on science and technology as the underpinning of the future. To be a big player tomorrow we have to refocus our national priorities and rebuid our capabilities. My comment: It is certainly a matter of Sino-American Economics for making comparisons.

Francis Shieh a.k.a. Xie Shihao. August 29, 2008 at 2.38 p.m.

Wall Street Journal,Aug.29,2008 page A10

Asia seeks its own trade deals as global talks stall: The 10-nation bloc agreed with China on the importance of an investment deal by December to complement existing bilateral agreements on trade in goods and services.
The 16 AsiaPacific ministers agreed that all economies must work together to preserve constructive and continued engagement. Sino-American Economics must be constructive and continuing for mutual benefit.

Page A16: John Sullivan wrote and rebutted Milton Friedman's Theory for private interest only: "With government bailouts and increased regulations of the financial markets being in the headlines,our housing and financial markets are NOT FREE, but regulated by the very socialist ideals." It is interesting to note the nature of China's economy i.e. Socialism with Chinese characteristics i.e. the market economy with socio-economics(economics to serve the society) as some American economists advocated in 1970s when I was teaching the American economy.
The first Nobel Laureate in Economics,Tinbergen developed the "Convergence Theory"j of varied economic systems in 1969 with his smart vision as we have been watching such convergence now in the 21st century.For example, Sino-American Economics at work at present to validate his good theory.
Let us watch the happenings of Sino-American economics in a nutshell. A good theory must be relevant otherwise such theory may be discarded. "Work and Study Cycle Theory"(1968) Cf. www.ask.com for reference apropos of the validity and implementation of such realities in USA and in China as well.
"Keys for Economic Understanding"(1971) and "Keys to Economic Understanding"(1976)are dedicated to the same rationale as the events occurring at present in the 21st century.

Francis Shieh a.k.a. Xie Shihao, a lifelong student of economics since 1940s. August 29, 2008 at 1 p.m.

Stay healthy and think young as I do

My humble background is colorful and varied, including childhood in Shanghai and North China
with a university degree from St. John's University,Shanghai in 1946 plus high school education at Hautes Etudes in Tianjin and Gonzaga College in Shanghai in early 1940s. I traveled to Japan, Korea,Malaysia,Singapore,Thailand,Canada,Brazil and USA from coast to coast as my teaching efforts. Lectured in China to Harbin in the north and Hongkong in the south as a Fulbright Senior Scholar in 1989-1990. I happened to be a linguist teaching Mandarin and Wu dialect at www.Dictyon.net in Maryland. For other information,please search francis shieh at www.Google.com and search xie shihao at www.baidu.com. Have a great day,everyday with my best wishes.

Francis Shieh a.k.a. Xie Shihao on Friday,Aug.29, 08

Health Smart way to eat well everyday

We do eat to fuel our bodies and to please our palates. Confucius said: Food and love life are the basic nature of all human beings.

Think, ponder and reflect the above with faith, hope and love on daily basis.

Francis Shieh a.k.a. Xie Shihao on Friday,Aug.29, 2008

Sunday, August 10, 2008

Shanghai's food is super with built-in art

TO WHOM IT MAY CONCERN: I arrived in Shanghai on August 7th and have been a resident in the City of No-Darkness ( Zhebei District ) with greatest enjoyment. As a native,I am proud of Shanghai's achievement with the opportunity to witness with such splendid delight until August 24, 2008. Francis Shieh a.k.a. Xie Shihao on Monday,August 11, 2008. P.S. Folks in Shanghai are certainly friendly,trendy and down-to-earth for China's moving forward in anticipation of World Expo in 2010.

Tuesday, August 5, 2008

Need to know: The Olympics in China with WOW

Kids Post,August 5, 2008 on page C12:

About 42,000 tons of steel make up the frame of Beijing's National Stadium.
The Bird's Nest: It looks to many people like the world's biggest bird's nest. To others, it looks like a saddle or a bowl. There are also some who think it looks like a toilet seat! It is a matter of one's own imagination.

It is China's massive new $500 million National Stadium, the main venue for the 2008 Olympic Games, and it was built with the latest green technology to wow the world.

It can seat 91,000 people. President Bush and other heads of state will be there on Friday during the Olympics' Opening Ceremony. It pays to be the leader,indeed!

Francis Shieh a.k.a. Xie Shihao. It takes an oppportunity to unleash my free spirit: a wise guy knows everything; but an astute fellow understands everybody. I find tenacious folks to admire and model myself as Moxie i.e. full of pep with Xie. A smile or a laugh for the day! August 5, 2008 at 3.25 p.m.

How a person should be judged:WashPost 8/5/08

James Watson,1962 Nobel Prize for medicine wrote to the letter to the Editor. Published by the Washington Post, August 5, 2008 on page A18:

"I don't believe now,nor have I ever believed, that the color of a person's skin, where a person comes from, a person's accent or any such human characteristic provides any indication whatsoever of that person's intelligence or potential to success in life." I share his proper judgment 100%. However,I have encountered some folks who would regard me as an Asian forever. That maybe true from the face value but not in line with the credo of Christianity and the Constitution of the United States.

Page A1 Headline as the Sequel to the above: Bush says it is important to engage China. Such statement is the reflection of Olympic Games' Motto: One World,One Dream and One Human Race as the endorsement of the letter cited above. Let us honor all folks regardless of race,color, creed,national origin and age in particular.

Francis Shieh a.k.a. Xie Shihao,an octogenarian who is a lifelong learner to study economics,philosophy,Chinese Mandarin,Wu dialect and the English language with an American accent. August 5, 2008 at 10.30 a.m.

Savoring the Olympic spotlight: Washington Post published

Photo on page A7 WsshPost,8/4/08: A Chinese tourist poses for a photo on the plaza in front of the Olympic Water Cube, where the aquatic events will take place, with the Bird's Nest stadium in the background. Thousands of Chinese, many without event tickets, flock to Beijing to bask in National Pride. My comment: The pride of humanity since China is the most populous nation and Olympic Games with the motto: One World,One Dream and I might add: "One homosapiens" with folks from all nations on earth. What a historically significant happening!

Aug.3,08 on page A15: Senator John McCain said: "We have a greater opportunity to work in a cooperative way with China." That is the same reasoning as I sent my blogs in the past. He said further:" We understand, as the Dalai Lama does, that Tibet is a part of China. That is certainly true when I was a university student in China in early 1940s before 1949.

President Hu asserts world's confidence in China. Aug.2,08 on page A11:

Bush will attend the spectacular ceremony and considers the US-China relationship is important marked by sincerity and honesty. That is my rationale as well.

Francis Shieh a.k.a. Xie Shihao,a lifelong learner of Sino-American Economics from the 20th century to the 21st century for knowledge and wisdom as an octogenarian. August 5, 2008 at 6.10 a.m.

Monday, August 4, 2008

Will America triumph? Aug.3,08 Parade page 8

The Chinese team is stronger than ever: China has been rapidly building its sports program and is now competitive in more events than ever. China and America could be in a tight race for overall medals this year.

A national hero could emerge: Yao Ming and Liu Xiang,both are natives of Shanghai. Michael Phelps will make a splash. Good luck to all who shall make the Gold.
The US shows great depth: Natalie Coughllin won five medals in the pool in Athens, she is back and could do it again in Beijing. Visit Parade.com

Francis Shieh a.k.a. Xie Shihao: The winners will win when he/she deserves such honor. That is my honest thoughts apropos of Sino-American Economics of free competition. Fair enough! Thanks in advance and have a great day,everyday during the period of Olympic Games in China.

August 4, 2008 at 8.55 p.m.

Sequel to Shanghai,(Above the Sea) and Chindex

Shanghai is an industrial and commercial center, a great port, and the densely populated maga city in China with circa 20 + million people.

"The Temple to the gods" is the place to eat "Xiaolongbao" i.e. petty bun with juicy meat. I visited Lu Xun's tomb and his Museum decades ago when I lectured at Shanghai University of Finance and Economics. Lu Xun was in favor of mass education and the reforms of the Chinese language as a pioneer to publish Latinisation(Romanization) in Zhonghuaribao, August 25, 1934 resulting official reforms for the Pin Yin system of romanization in 1958. "A Glimpse of the Chinese Language" in English is dedicated to the same goal citing the work of Wu Yuzhang, former President of Renmindaxue in Beijing. Lu Xun also advocated cultural exchange with other countries as seen on page 8 of "A Glimpse of the Chinese Language" for opening up China to the world. Such is in evidence now for Olympic Games in 2008 and Expo 2010 in Shanghai,China.

Chindex Seized on Olympic-Size Opportunity to transplant American health insurance and private hospital to China. Chindex, which operates Western-style hospitals in Beijing will provide health-care service during the summer games to a number of visiting organizations, including NBC. US Olympic team doctors will use Chindex's Beijing Hospital as their base of operations. Published by the Washington Post, August 4, 2008 on page D2.

Francis Shieh a.k.a. Xie Shihao,a native of Shanghai and taught in Beijing from 1993-1996. August 4, 2008 at 3.45 p.m.

Eyes to China: Shanghai is constantly building...

Washington Post, August 4, 2008 Page C1-C2: Sizing up a mega city- Photo: Visitors view a 1:500 scale model of Shanghai at the city's Urban Planning Exhibition Center. The miniature city takes up 6,400 square feet and has to be altered every few months to reflect Shanghai's explosive growth.

Let us wait and see Shanghai Expo in 2010 with pride of all folks in the world especially ethnical Chinese to be proud of the biggest city in China.

Francis Shieh a.k.a. Xie Shihao, a native of Shanghai since 1926. Aug.4,2008 at 1.10 p.m.

Fareed Zakaria: Beyond China-Bashing

To the distinguished journalist Zakaria, I strongly agree with your analysis of China with my admiration of your thoughtful insights. My recommendation is for Westerners to study Chinese language and philosophy to have better understanding of China and Sino-American Economics in the 21st century. www.Google.com to search francis shieh to read the blogs and the works at www.loc.gov(Library of Congress online catalog in the fields of China studies and Economics.

I endorse your conclusion:" We have nogt pursued a policy toward the world's newly rising powers that aims to create new and enduring relations with them, integrate them into structures of power and lay out rules of the road to secure peace and prosperity in the 21st century. That is critical in the nuclear age,indeed!

In reference to the surveys, the Chinese expressed the highest level of support for the direction in which their country was heading -86% I would say that overseas Chinese with foreign citizenship but Chinese ethnicity appear to support Olympic Games and the new harmonious China in the 21st century regardless of some complaints from some people. There are Americans who complain about America as well but America moves on with changes in the November election as we would expect the leaders to understand the significance of US-China Economics in the days to come.

Francis Shieh a.k.a. Xie Shihao on August 4, 2008 at 12.45 p.m.

Sunday, August 3, 2008

Sports schools breed elite athletes in Shanghai

The tale of the tape measure: Based on their body types:

For millions of Olympic hopefuls in China, the path to a gold medal begins with institutions such as Zhabei District Children's Sports School in Shanghai: a school of 700 K-12 students with state of the art sports facilities.

Four students from the Zhabei school will compete this month in swimming, table tennis and volleyball.

Francis Shieh a.k.a. Xie Shihao, a native of Shanghai on August 3, 2008 at 8.55 p.m.

The Mini Page. August 3, 2008 Washington Post

The opening ceremonies will begin at 8.08:08 p.m. on Aug.8, 2008. During the opening ceremonies, the host nation welcomes the world to the Olympic Games with hundreds of singers, dancers, and acrobats participating. In the parade of athletes, each nation enters the stadium with all or a portion of its competitors. Greece is always the first country to enter because it was the location of the first Olympic Games more than 2,000 yars ago. The other nations enter in alphabetical order. The host nation is the last to enter.

The 2008 Olympic torch relay slogan is "Light the Passion, Share the Dream."

The closing ceremonies for the Games will be on Aug.24,2008. At that point, there will be 302 new gold medalists.

Watching on TV for high-definition. NBC will be the only American broadcast network to show the Games.

Francis Shieh a.k.a. Xie Shihao shall watch Olympic Games in Shanghai as a guest from August 7 to August 24th 2008. Leaving Washington on August 6, 2008. Aug.3,2008 at 5.45 a.m.

Saturday, August 2, 2008

Whence the oil money? And other news for your info

Raymond Offenheiser wrote to the Washington Post, August 1, 2008 page A16:

"Oil producing nations are accumulating vast reservoirs of money in one of the most massive transfers of wealth in history. Not only is this estimated $1.5 trillion annual transfer largely not benefiting ordinary people in developing nations, it is also surrounded by secrecy, which fuels authoritarianism, corruption and conflict in nations such as Negeria. Oil firms should provide info on how much they pay to oil-producing nations so that citizens can hold their governments accountable for investing in education, health care and economic development." I would like to see investment in education, health care and economic development. Eco 101 course is not just economics but greening as Al Gore advocates.

Wall Street Journal. Aug.2-3, 2008: page A3: Job losses suggest economic weakness to persist. Unemployment hit a 4-year high of 5.7% in July.

Page A5: China lets banks lend 5% more to relax credit curbs that hit small businesses particularly hard. President Hu reiterated the new focus on sustaining economic growth amid a global slowdown.
CBS news says the food cost is getting higher and higher. We got to eat and we got to pay more for bread and rice.

Francis Shieh a.k.a. Xie Shihao. August 2, 2008 at 9 p.m.

"Wealth, War and Wisdom" by Barton Briggs

John Wiley and Sons,Inc. 2008 $29.95

Financial economists spend less time studying the predictive power of the stock market as a whole. Daunted by the staggering breadth of variables that influence stock indexes, professors cite Paul Samuelson's maxim about the stock market having predicted 9 of the past 5 recessions, thereby cleverly dismissing the question of the stock market's prescience. (Search www.Google.com) 70/80/90% of success in life is showing up - a strong preponderance of citatins i.e. evidence falls short or mixed -suffering extreme dislocation." My comment: There is no pat answer or correct forecast)

The author adds to the knowledge with his elegant, wonderfully crafted prose as #1 global strategist.

The botom line: Confucius said: "Study the past if you would divine the future." In Pin Yin: "Wen gu - zhi xin" Xiefuzi asserted: "Enjoy the present with credit system of VISA in all nations as financial clout to mortgage the future with interests of Faith,Hope and Love of both material and spiritual entities. In Pin Yin : " Xinxin, qiwang,cunzai shiti(real thing or rejecting mundane world apropos varied Chinese characters) de aiqing.(love)

Francis Shieh a.k.a. Xie Shihao on Saturday,August 2, 2008 12.22 p.m.

Liu shi nian feng shui lun liu zhuan. Savvy?

Gazette Lifestyles,July 31, 2008 page A30: "Rapid economic changes in Asian countries like China has ushered in marked nutrition and lifestyle changes. As Western foods and lifestyle habits traverse the globe, countries long known for leanness are now facing an obesity epidemic - one that has developed even more quickly than it did in the USA. Diet is changing in China from low-fat plant based diet to the increases in red meat,animal fat and total fat consumption which are linked to geater overweight. As an ironic twist, Western countries are now highlighting the traditional Asian diet and active lifestyle" My comment: more folks in USA appreciate Chinese food and would ride bikes for saving fuel and health.

Here we can detect the East is learning from the West and vice versa in re globalization for exchanges apropos of all homosapiens. Any comments?

Francis Shieh a.k.a. Xie Shihao,a graduate student from China in 1947 with reflections of such changes as cyclical movement of events on earth. In Pin Yin: "Liu shi nian feng shui lun liu zhuan" to be applied to USA and China in economics(sic) What fun in the light vein! August 2, 2008 at 6.28 a.m.

Friday, August 1, 2008

Wave Bye to the invisible hand.Farewell to Free-market Capitalism

Washington Post,August 1, 2008 pages D1,D8: Steven Pearlstein has published an excellent article that I have had in my mind for several decades. I always want to compare my thoughts with other observers of the American economy. He wrote: " The internationalist community is already sputtering contemptuously about the triumph of mindless protectionism, and certainly there was some of that. The social and economic costs of the increment of globalization outweigh the benefits for many people, and that reality has been reflected in the political marketplace. In the US,consumers have realized gains from importing goods and the government has refused to deal with the dislocation and economic insecurity that increased trade has spawned, too many lower skilled workers have concluded that they are the inevitable losers. In this connection,"Keys for Economic Understanding" would serve as a reference for training and retraining of American workers to have a marketable skill to find jobs in USA. Cf. "The Future of Community Colleges" published by the Congressional Record,July 18, 1974 with my humble vision since the 20th century.

Francis Shieh a.k.a. Xie Shihao,a student observer for the American economy since early 1940s. August 1, 2008

Exchanges with Russia re reference for USA and China

August 6-16,2008, Bangkok, Thailand

The main objectives are to showcase examples of advanced equipment and new technologies; to establish and promote mutually beneficial contacts between scientific institutions and industrial enterprises in Russia and innovation companies and firms in South East Asia,to develop trade and economic cooperation and to promote Russian high-tech products and technologies on world markets. www.rd.mnfs.ru for info.

International Agro-industrial Exhibition and Fair Agrorus 2008

The agrorus fair is being held for the 15th time since 1991. It is the most popular agricultural fair in Russia, the CIS and Eastern Europe. The primary focuses of the fair include food,agricultural technology, equipment and processes for production and harvesting of grain crops,veggies,fruits, milk, meat, poultry and flowers,technology,equipment for processing,packaging and storage and grain crops, veggies,fruits, milk and poultry, and farming topics.

Francis Shieh a.k.a. Xie Shihao provides such info for readers re Sino-American Economics to pursue possible interest for scientific exchanges. I was involved in a project for National Science Foundation apropos of American scientists to have contacts and exchanges with Chinese counterparts re the publication of a Directory published by Hoover Institution of Stanford University in the late 1960s and early 1970s.

August 1, 2008 at 10.30 a.m.

Sleep is very significant for Americans and Chinese alike

When we expect to maintain our human capital of health,we need to have good sleep. It is essential for our physical body to promote alertness,memory and performance. Such issue has to be on the radar screen all the time on daily basis. Folks may be more interested in TV or to be online with cafffeine products. All of which lead to difficulty falling asleep, nightmares and disruptions.

I have a habit to make bedtime the same time every night i.e. from 10 p.m. to 5 a.m. Seven hours may be sufficient for octogenarians. I deem sleep as a positive and relaxing experience without daily activities. Some count the numbers to fall to sleep others say prayers. I have my mantra: Faith,Hope and Love as my routine belief in our mundane world.

Francis Shieh with education of over 450 years under history of S.J. plus Confucian tradition as heritage and tradition. Any other scenarios? You be your own Judge!

August 1, 2008 at 6.06 a.m.