Washington Post,November 30, 2008 on page F2:
Tom Sowanick, chief investment oficer at Clearbrook Financial, an investment management firm in Princeton,New Jersey, the noise masks what he believes is a positive trend that has emerged over the past month or so. He finds the good news not so much in the US-but overseas. What is happening on exchanges in China, Brazil and Russia, he says has significant ramifications for investors here. In China, the CSI 300 indes is up about 17% from Nov.4, whidh Sowanick says could be its bottom.
Why is this important for the US market? In Sowanick's view, the gains on the emerging markets suggest that global investors are regaining an appetite for risk for emerging markets. Moreover,China's own giant stimulus package has helpted, along with the emergency rescues and transfusions from the US Treasury Department. --Steven E. Levingston.
Best luck to Mr. Sowanick for his positive scenario. However,I would maintain the judgment for the upcoming empirical evidence.
A new book to be highly recommended: "ENOUGH" By John C. Bogle. John Wiley & Sons. 2009 $24.95 ISBN: 978-0-470-39851-7
The subheading is: True measures of money,business, and life
The book provokes so much thought and gives new meaning to the words 'commitment,accountability, and stewardess.
"It is a must reading for investors disenchanted by today's culture of greed, accounting distortion and corporate malfeasance and oversight failure."-- Arthur Levitt,Former Chairman,United States Security and Exchange Commission.
On page 31: "We are merely trading pieces of papers, swapping stocks and bonds back and forth with one another and paying our financial croupiers a veritable fortune, adding more costs by creating more complex financial derivatives in which huge and unfathomable risks have been built into the financial system." Such may be the insights for global financial crises.
Francis Shieh a.k.a. Xie Shihao with the motto: "Live and Learn the increasing knowledge of Sino-American Economics to make life more worth living with complexity."
Sunday,November 30, 2008 at 2.08 p.m.
Sunday, November 30, 2008
New comments re Wall Street Journal,May 17-18, 08
I sent my blog dated May 18, 2008 re economic philosophy to be applied to folks in China and in the USA with varied custom/ tradition of culture:
I have been stressing the lifestyle of human behavior for decades and I have recommended the lowering of human desire in the denominator of a fraction for Happiness Equation. Happiness is not material consumption over desire only but add intellectual pursuit and spiritual satisfaction and good health et al as the factors for numerator. I lectured in Shanghai in 1981 to that effect. After the recent US financial crisis, I came across the word recently: frugality as the way of life in the media for Americans. Such change of mindset with the same rationale would be desirable in light of current state of the economy. I do remember the word: THINK when I was an accountant at IBM, San Jose,California in 1957-58. In this regard,I recall a Chinese aphorism: "San si er xing" i.e. 1.Think 2.Think it over 3. Think again before taking any action. In other words,any abuse of credit and thoughtless action has caused the crisis for homeowners and the banks apropos of financing mortgages. However,the "lai long qu mai" i.e. the coming and going of money and credit would be a compound-complex matter to be revealed hopefully during the course of time. True happening may be multi-dimensional in economics.
Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from Shanghai,China in 1947, is willing to learn the field of economics as a multi-faceted discipline. November 30, 2008 at 7.12 a.m.
I have been stressing the lifestyle of human behavior for decades and I have recommended the lowering of human desire in the denominator of a fraction for Happiness Equation. Happiness is not material consumption over desire only but add intellectual pursuit and spiritual satisfaction and good health et al as the factors for numerator. I lectured in Shanghai in 1981 to that effect. After the recent US financial crisis, I came across the word recently: frugality as the way of life in the media for Americans. Such change of mindset with the same rationale would be desirable in light of current state of the economy. I do remember the word: THINK when I was an accountant at IBM, San Jose,California in 1957-58. In this regard,I recall a Chinese aphorism: "San si er xing" i.e. 1.Think 2.Think it over 3. Think again before taking any action. In other words,any abuse of credit and thoughtless action has caused the crisis for homeowners and the banks apropos of financing mortgages. However,the "lai long qu mai" i.e. the coming and going of money and credit would be a compound-complex matter to be revealed hopefully during the course of time. True happening may be multi-dimensional in economics.
Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from Shanghai,China in 1947, is willing to learn the field of economics as a multi-faceted discipline. November 30, 2008 at 7.12 a.m.
Saturday, November 29, 2008
Book World,Nov.30, 2008 page 1 and 3
Cover Review: Economics - "Markets don't make bubbles,people do." as the subheading. I have been stressing human behavior in economics re the financial crisis nowadays.
Harvard Professor Niall Ferguson published "The Ascent of Money" Penguin Press 441 pp. $29.95. Just published in 2008.
"Money is essential to human progress, it is trust inscribed on paper or metal." My comment: On the paper currency: This note is legal tender for all debts,public and private. Such notation should be known to all holders of paper currency for the true meaning relating to public and private debts as incurred. On the other side:"IN GOD WE TRUST" with faith,hope and charity. For metals: there is intrinsic fluctuating value of precious metals.
"Milton Friedman, the apostle of monetarism, who saw the supply of money as the key to the economy" I am reminded of Irving Fisher's Quantity Theory of Money or Equation of Exchange.(MV=PQ) We are living in the credit-based economy with plastic cards as debts for our credit. Credit problems should have been understood in the first place. Professor Ferguson explains with George Soros's theory of reflexivity. My comment: Investor's fixated judgment in the markets as mindset. Moreover,he cited Joseph Schumpeter,a conservative economist predicting Socialism as the wave for the future in 1940s at Harvard. Needless to say,his students were baffled about such prediction but he defended his position by saying that his prediction is not necessariy his preference as I sent my prior blogs.
Ferguson said on MSNBC last week that the United States should follow up the G-20 Economic Summit with a "G-2" meeting with just the Chinese. His reason for such recommendation is clearly obvious in light of the economic status of China. The first Nobel Laureate Jon Tingergen's "Convergence Theory"(1969) is the forerunner for the grand scale bailout of the private sector by the public sector in 2008.
Fear, greed and folly as the maxim of the Wall Street and there is no guarantee of future returns as a stern warning.
Well,let us wait for the empirical evidence in the days,weeks,months,and years to come to witness the glorified Monopoly Game with grand finale in the showplaces in the world.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 trying to learn political economy i.e. the REAL ECONOMICS of human behavior apropos of such inexact economic science in the age of uncertainty.
Saturday, November 29, 2009 at 10.55 a.m.
Harvard Professor Niall Ferguson published "The Ascent of Money" Penguin Press 441 pp. $29.95. Just published in 2008.
"Money is essential to human progress, it is trust inscribed on paper or metal." My comment: On the paper currency: This note is legal tender for all debts,public and private. Such notation should be known to all holders of paper currency for the true meaning relating to public and private debts as incurred. On the other side:"IN GOD WE TRUST" with faith,hope and charity. For metals: there is intrinsic fluctuating value of precious metals.
"Milton Friedman, the apostle of monetarism, who saw the supply of money as the key to the economy" I am reminded of Irving Fisher's Quantity Theory of Money or Equation of Exchange.(MV=PQ) We are living in the credit-based economy with plastic cards as debts for our credit. Credit problems should have been understood in the first place. Professor Ferguson explains with George Soros's theory of reflexivity. My comment: Investor's fixated judgment in the markets as mindset. Moreover,he cited Joseph Schumpeter,a conservative economist predicting Socialism as the wave for the future in 1940s at Harvard. Needless to say,his students were baffled about such prediction but he defended his position by saying that his prediction is not necessariy his preference as I sent my prior blogs.
Ferguson said on MSNBC last week that the United States should follow up the G-20 Economic Summit with a "G-2" meeting with just the Chinese. His reason for such recommendation is clearly obvious in light of the economic status of China. The first Nobel Laureate Jon Tingergen's "Convergence Theory"(1969) is the forerunner for the grand scale bailout of the private sector by the public sector in 2008.
Fear, greed and folly as the maxim of the Wall Street and there is no guarantee of future returns as a stern warning.
Well,let us wait for the empirical evidence in the days,weeks,months,and years to come to witness the glorified Monopoly Game with grand finale in the showplaces in the world.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 trying to learn political economy i.e. the REAL ECONOMICS of human behavior apropos of such inexact economic science in the age of uncertainty.
Saturday, November 29, 2009 at 10.55 a.m.
November is Native American Heritage Month
The American Indian Chiefs:
Geronimo
Sitting Bull
Powhatan
Redcloud
Sequoyah
Chief Joseph
Cochise
Hiawatha
Tecumseh
Craze Horse
The above Asians were first Americans in history with good recollection.
Please remember the former Police Chief Dan Liu of Honolulu,Hawaii as an American of Chinese ancestry who was the leader from 1948-1969 but had worked for the Police Department over four decades with distinction. A Police Station was named after him in downtown Honolulu. Americans are proud of him for his expertise in law-enforcement and he was elected as the President of Internatinal Association of Police Chiefs. I have reason to believe that ethnic Chinese would respect him as well for his public service rendered to the folks in Honolulu,Hawaii,the Paradise of the Pacific.
Francis Shieh a.k.a. Xie Shihao,an honorary citizen of the City of Honolulu and the State of Hawaii on Saturday,November 29, 2008 at 7 a.m. with fond remembrance and cherished reminiscence. Thanksgiving is the time to give thanks to the departed but their names are never forgotten in our hearts and minds as good folks on earth.
Geronimo
Sitting Bull
Powhatan
Redcloud
Sequoyah
Chief Joseph
Cochise
Hiawatha
Tecumseh
Craze Horse
The above Asians were first Americans in history with good recollection.
Please remember the former Police Chief Dan Liu of Honolulu,Hawaii as an American of Chinese ancestry who was the leader from 1948-1969 but had worked for the Police Department over four decades with distinction. A Police Station was named after him in downtown Honolulu. Americans are proud of him for his expertise in law-enforcement and he was elected as the President of Internatinal Association of Police Chiefs. I have reason to believe that ethnic Chinese would respect him as well for his public service rendered to the folks in Honolulu,Hawaii,the Paradise of the Pacific.
Francis Shieh a.k.a. Xie Shihao,an honorary citizen of the City of Honolulu and the State of Hawaii on Saturday,November 29, 2008 at 7 a.m. with fond remembrance and cherished reminiscence. Thanksgiving is the time to give thanks to the departed but their names are never forgotten in our hearts and minds as good folks on earth.
Friday, November 28, 2008
From Market Economy to Pollitical Economy
Washington Post, Friday,November 28, 2008 page A29: "As economist Irwin Stelzer argues, we have gone from a market driven economy to a politically driven economy. On Nov.18,Secretary of Treasury Hank Paulson broadly implies that he is using only half the $700 billion bailout money. Having already spent most of his $350 billin, he is going to leave the rest to his successor.
Three political events: Citigroup bailout; the official rollout of economic team of President-elect Obama,Gaithner and Summers and Paulson would be ready to use the remaining $350 billion over the next two months. That undid the market swoon - and dramatically demonstrated how politically driven the economy has become. The ruling leaders would seize the commanding heights of the economy for the greater social good." Charles Krauthammer wrote such article.
My comment: When the leaders in USA and in China are working for the greater social good, I would like to endorse such noble cause to reach the public for socio-economics to be relevant. Perhaps we can detect the common interest of Sino-American Economics in the 21st century.
As we honor Abe Lincoln,we ought to remember:"With amity toward all;with enmity toward none." That is the American way and the confucian way as well.
Francis Shieh a.k.a. Xie Shihao,an admirer of Abe Lincoln,one of the great presidents of the United States. I wish President-elect Obama would be another good president to serve the best interest of America. Confucianism would guide the Chinese leaders to take action to the public i.e. common folks in China.
Friday, November 28, 2008 at 10.16 a.m.
Three political events: Citigroup bailout; the official rollout of economic team of President-elect Obama,Gaithner and Summers and Paulson would be ready to use the remaining $350 billion over the next two months. That undid the market swoon - and dramatically demonstrated how politically driven the economy has become. The ruling leaders would seize the commanding heights of the economy for the greater social good." Charles Krauthammer wrote such article.
My comment: When the leaders in USA and in China are working for the greater social good, I would like to endorse such noble cause to reach the public for socio-economics to be relevant. Perhaps we can detect the common interest of Sino-American Economics in the 21st century.
As we honor Abe Lincoln,we ought to remember:"With amity toward all;with enmity toward none." That is the American way and the confucian way as well.
Francis Shieh a.k.a. Xie Shihao,an admirer of Abe Lincoln,one of the great presidents of the United States. I wish President-elect Obama would be another good president to serve the best interest of America. Confucianism would guide the Chinese leaders to take action to the public i.e. common folks in China.
Friday, November 28, 2008 at 10.16 a.m.
Enjoy Holiday Season 2008 and the seasons to come
Abe Lincoln established Thanksgiving as a national holiday in 1863. To my best recollection,I still remember the day when I had to recite Gettsburg Address in 1942 at Gonzaga College in Shanghai. Bing Crosby's "I dream about a White Christmas" still singing in my ears. Bing made a large donation to Gonzaga University in the State of Washington decades ago. Governor O'Malley attended Gonzaga in Washington years ago. On this Thanksgiving, many in America have given up their jobs, their homes(foreclosure). We live in the age of uncertainty as Prof. Galbraith published his book decades ago. But we must have mindset of optimism with President-elect Obama who would change the course to break the racial barriers to treat all Americans as Americans with his Asian background to treat Asian Americans as Americans. ALOHA to the leader as a native of the State of Hawaii,the paradise of the Pacific. The other side is China. Here we can foresee the good future of Sino-American Economics in the 21st century with bright anticipation.
Francis Shieh a.k.a. Xie Shihao, an Asian American since 1954, an honorary citizeh of the City of Honolulu,Hawaii on November 28, 2008 at 6.56 a.m.
Francis Shieh a.k.a. Xie Shihao, an Asian American since 1954, an honorary citizeh of the City of Honolulu,Hawaii on November 28, 2008 at 6.56 a.m.
Thursday, November 27, 2008
Give thahks to the Almighty: His love endures forever
Happy Thanksgiving is the American tradition to celebrate the 4th Thursday in November with food to eat as the grateful expression to "Laotianye: in Pin Yin i.e. Divine Providence,the Creator of all folks on earth.We pray before our meals as well.
I happened to notice seemingly happy folks with carts filled to the brim to the extent of overflowing. Such delight with excitement are intoxicating at best. Family and friends are together for the utility of filling up the stomach with loving sentiments. However,frugality is the buzzword to remember nowadays. When we have water to drink with bread to eat,we can keep our body and soul together without any worry to reduce(sic). Keep our shapes and be happy with spirituality for genuine happiness as mindset to be our tribute to Thanksgiving. American Indians were cited for Thanksgiving and American Indians were Asians. The first Americans were Asians from American history. I believe I am not incorrect. However,if there is an error,I am just human,a human error may be forgiven by the readers. Thanks for reading my blog on Thanksgiving Day that I offer my blog with my thanks to YOU.
Francis Shieh,named after Francis Scott Key in American history but the British are our friends apropos of global financial crisis. Such international relations must include China as Sino-American Economics of Thanksgiving of funding to rescue global economic crisis. Xie Shihao i.e. thanks from a heroic poet with sentiments as my random thoughts in the light vein on Nov.27, 2008 at 7.22 a.m.
I happened to notice seemingly happy folks with carts filled to the brim to the extent of overflowing. Such delight with excitement are intoxicating at best. Family and friends are together for the utility of filling up the stomach with loving sentiments. However,frugality is the buzzword to remember nowadays. When we have water to drink with bread to eat,we can keep our body and soul together without any worry to reduce(sic). Keep our shapes and be happy with spirituality for genuine happiness as mindset to be our tribute to Thanksgiving. American Indians were cited for Thanksgiving and American Indians were Asians. The first Americans were Asians from American history. I believe I am not incorrect. However,if there is an error,I am just human,a human error may be forgiven by the readers. Thanks for reading my blog on Thanksgiving Day that I offer my blog with my thanks to YOU.
Francis Shieh,named after Francis Scott Key in American history but the British are our friends apropos of global financial crisis. Such international relations must include China as Sino-American Economics of Thanksgiving of funding to rescue global economic crisis. Xie Shihao i.e. thanks from a heroic poet with sentiments as my random thoughts in the light vein on Nov.27, 2008 at 7.22 a.m.
Wednesday, November 26, 2008
The pastime may be costly and unwise for such actions
USA Today,Nov.26,2008: Page A8 -
Horse racing charges back into China. Gambling mostly banned, but new track finds a way:; Spurring economy - Jockey take a test run of the Orient Lucky City tradition in Wuhan Hubei province. Its four-day lottery event could open gates to more gambling. The Casino industry could be the biggest in the world in the years to come: A rival competitor to Las Vegas? Such is Sino-American Economics in action. I visited Wuhan several times decades ago with fond memories.
Page 1B: US financial markets will be closed in observance of the Thanksgiving Holiday. Happy Thanksgiving to the readers.
Francis Shieh a.k.a. Xie Shihao, an octogenarian trying to learn the Law of Possibility or the Law of Probability(sic) without any interest. However,folks in China would do such for Chinese New Year only. The aphorism : The winner wants to win more and the loser wants to get back the money. I happened to learn of a person in Hong Kong who lost his good house on the hill thereby lost his wife afterwards. Such case is unwise with great losses.
November 26,2008 at 2.38 p.m.
Horse racing charges back into China. Gambling mostly banned, but new track finds a way:; Spurring economy - Jockey take a test run of the Orient Lucky City tradition in Wuhan Hubei province. Its four-day lottery event could open gates to more gambling. The Casino industry could be the biggest in the world in the years to come: A rival competitor to Las Vegas? Such is Sino-American Economics in action. I visited Wuhan several times decades ago with fond memories.
Page 1B: US financial markets will be closed in observance of the Thanksgiving Holiday. Happy Thanksgiving to the readers.
Francis Shieh a.k.a. Xie Shihao, an octogenarian trying to learn the Law of Possibility or the Law of Probability(sic) without any interest. However,folks in China would do such for Chinese New Year only. The aphorism : The winner wants to win more and the loser wants to get back the money. I happened to learn of a person in Hong Kong who lost his good house on the hill thereby lost his wife afterwards. Such case is unwise with great losses.
November 26,2008 at 2.38 p.m.
Meditation,reflection with motivation as "tidbit"
Human beings are gregarious by nature. It would be a blessing to have divine meditation with reflection of the past encounters with motivation. Friends can provide us with happiness to share unique viewpoint for companionship. Friendship brings pleasure plus robust sense of humor. It would be opportune to share aesthetic beauty for material things. Trying to be patient, calm and compassionate when facing challenges. Love would deepen our knowledge for inspiration. The goal of life may be attained via the proper direction. Confusion may be a natural part of the learning process until the discovery of Confucianism as the philosophy of life with wisdom. Language can be the stimulating means to make light-hearted ends for educated folks. It would be inspiring to hone our language skills with economic understanding. Perhaps "A Glimpse of the Chinese Language" and "Keys for Economic Understanding" would come to mind for intellectual pursuit: www.Amazon.com online book catalog for reference. It would be wise to open up our intelligence leading to a comprehensive system of global education of the East and the West. Such Twins can be met with learning the Chinese language and economics. You bet!
Happy Thanksgiving Day tomorrow to give thanks to the acquired knowledge of the Chinese language and Economics as fields of endeavor for lifelong learning as a graduate student from Shanghai,China in September 8, 1947.
Francis Shieh a.k.a. Xie Shihao on November 26, 2008,the Eve of Thanksgiving Day i.e. Nov.27, 2008. Looking forward for family reunion at Mike's Noodles for luncheon with heart's desire for the taste bug via mouth,tongue,stomach,intestines ... as input and output apropos of health in human capital in economics. Thank you for your time in reading my random thoughts with heartfelt appreciation. At 12.22 p.m.
Happy Thanksgiving Day tomorrow to give thanks to the acquired knowledge of the Chinese language and Economics as fields of endeavor for lifelong learning as a graduate student from Shanghai,China in September 8, 1947.
Francis Shieh a.k.a. Xie Shihao on November 26, 2008,the Eve of Thanksgiving Day i.e. Nov.27, 2008. Looking forward for family reunion at Mike's Noodles for luncheon with heart's desire for the taste bug via mouth,tongue,stomach,intestines ... as input and output apropos of health in human capital in economics. Thank you for your time in reading my random thoughts with heartfelt appreciation. At 12.22 p.m.
Tuesday, November 25, 2008
Wall Street Journal,Nov.25,08 page A15
John Taylor,Professor of Economics at Stanford University said: "The theory that a short-run government spending stimulus will jump start the economy is based on Keynesian theory(same as I sent my previous blog) The modern complex and dynamic economy would need something else? I would maintain human behavior of the leaders in charge. When the public interest is placed above the private interest,the result would be satisfactory otherwise problems would arise for too much private gain.
To me, economics should be a subject of morality and ethics as Adam Smith understood decades ago and Confucius/Mencius would certainly concur with proper human conduct for leaders in any nation.
According to Census Bureau,37.3 million residents i.e. 12.5 % of the population lived below the poverty line which is currently $21,200 for a family of four. Economists say the total is sure to rise over the coming years leading to reach 47 million as projected.
Page A25: The British Prime Minister Gordon Brown asked China to give money to IMF in October 2008. What does that mean? China is able to do so?
Washington Times,Nov.25, 2008: Page A10: For a rough road ahead -Soup for lunch for some folks in USA. Actually,folks in China are eating soup quite often for lunch as far as I know as a student in China since 1926 in the 20th century.
Francis Shieh a.k.a. Xie Shihao,an octogenarian reader to share news with other readers. Nov.25,2008 at 2.15 p.m.
To me, economics should be a subject of morality and ethics as Adam Smith understood decades ago and Confucius/Mencius would certainly concur with proper human conduct for leaders in any nation.
According to Census Bureau,37.3 million residents i.e. 12.5 % of the population lived below the poverty line which is currently $21,200 for a family of four. Economists say the total is sure to rise over the coming years leading to reach 47 million as projected.
Page A25: The British Prime Minister Gordon Brown asked China to give money to IMF in October 2008. What does that mean? China is able to do so?
Washington Times,Nov.25, 2008: Page A10: For a rough road ahead -Soup for lunch for some folks in USA. Actually,folks in China are eating soup quite often for lunch as far as I know as a student in China since 1926 in the 20th century.
Francis Shieh a.k.a. Xie Shihao,an octogenarian reader to share news with other readers. Nov.25,2008 at 2.15 p.m.
Washington Post,Nov.25, 2008 page A15
"Americans are scrambling to increase savings and curb spending. The plausible math is daunting. Since September 2007, Americans' personal wealth has dropped about $9 trillion, says economist Nigel Gault of IHS Global Insight. An estimate is that every dollar's change in wealth causes folks to change their spending by 5 cents. If so,the hit to consumer spending would be $450 billion($9 trillion times.05). Gault thinks the effect would occur over several years."
My comment: Such assumed data may be questionable but common sense would dictate the logical consequences i.e. the theory of cause and effect: A priori or A posteriori as the case may be. Nobody would impugn. However,in the meantime,we can still enjoy simple life in this mundane world with daily prayers.
"A new source of demand is needed to sustain faster growth. An obvious solution is for high saving Asian nations, led by China, to consume and spend more so that their imports increase." wrote Robert J. Samuelson.
Here is the opportunity for American products to be sold to China in the days to come for good business. Here is Sino-American Economics.
"The scary words "Depression" and "Deflation" are bandied about because an economic free fall seems possible even if it is unlikely. The mechanics of this cycle are to be seen during the course of time."
Such may be the sequel of cyclical phenomenon to be phenomenal at best as I sent my prior blog.
Francis Shieh a.k.a. Xie Shihao on Tuesday,November 25, 2008,one month until Christmas,the season of Yuletide for kids and adults to celebrate with faith,hope and love apropos of such significant occasion for humankind on earth with holy tidings of cheer and upbeat. At 10.36 a.m.
My comment: Such assumed data may be questionable but common sense would dictate the logical consequences i.e. the theory of cause and effect: A priori or A posteriori as the case may be. Nobody would impugn. However,in the meantime,we can still enjoy simple life in this mundane world with daily prayers.
"A new source of demand is needed to sustain faster growth. An obvious solution is for high saving Asian nations, led by China, to consume and spend more so that their imports increase." wrote Robert J. Samuelson.
Here is the opportunity for American products to be sold to China in the days to come for good business. Here is Sino-American Economics.
"The scary words "Depression" and "Deflation" are bandied about because an economic free fall seems possible even if it is unlikely. The mechanics of this cycle are to be seen during the course of time."
Such may be the sequel of cyclical phenomenon to be phenomenal at best as I sent my prior blog.
Francis Shieh a.k.a. Xie Shihao on Tuesday,November 25, 2008,one month until Christmas,the season of Yuletide for kids and adults to celebrate with faith,hope and love apropos of such significant occasion for humankind on earth with holy tidings of cheer and upbeat. At 10.36 a.m.
Washington Post,Nov.24, 2008 page A14 with comments
Former Secretary of Labor Robert Reich said:" The middle class is being squeezed by debt,plummeting home values and tightening of credit. There is not enough buying power in the economy. Secretary of Treasury Henry Paulson will release funding for credit as per Radio broadcast on Nov.25,2008. That remains to be seen,however.
In China,the middle class is expanding as known with evidence. The middle class is the backbone of any nation.
Jared Bernstein, a senior economist at the Economic Policy Institute said:"The 1930s recession became the Great Depression because policymakers did not take the necessary actions." The danger is not doing enough and it would be better to overshoot.
China is taking similar measures to boost the economy as per the media release.
My comment: Full employment and price stability is the goal from the Keynesian Model of the Cross and the crossroads can be seen in the West in USA and in the East in China. However,there are inflationary and deflationary gaps aprops of the shifting of aggregate supply curve and the aggregage demand curve. Such cyclical phenomenon maybe phenomenal for us to witness during the course of time.
Francis Shieh a.k.a. Xie Shihao is looking forward to see such happenings as a lifelong student of economics from human behavior.
November 25, 2008 at 7.06 a.m.
In China,the middle class is expanding as known with evidence. The middle class is the backbone of any nation.
Jared Bernstein, a senior economist at the Economic Policy Institute said:"The 1930s recession became the Great Depression because policymakers did not take the necessary actions." The danger is not doing enough and it would be better to overshoot.
China is taking similar measures to boost the economy as per the media release.
My comment: Full employment and price stability is the goal from the Keynesian Model of the Cross and the crossroads can be seen in the West in USA and in the East in China. However,there are inflationary and deflationary gaps aprops of the shifting of aggregate supply curve and the aggregage demand curve. Such cyclical phenomenon maybe phenomenal for us to witness during the course of time.
Francis Shieh a.k.a. Xie Shihao is looking forward to see such happenings as a lifelong student of economics from human behavior.
November 25, 2008 at 7.06 a.m.
Monday, November 24, 2008
Why a US stimulus plan depends on China
Washington Post,Nov.24, 2008 on page A17: Writer Fareed Zakaria,editor of Newsweek International.
"Economists on both the left and right agree that a massive fiscal stimulus is needed and that for now, we should not be worrying about deficits,which could total between 1 trillion and $1.5 trillion, or between 7 and 11% of GDP- America has to get someone to buy its debt. And the only country with the cash to do so is CHINA.
In September, China became America's largest foreign creditor, surpassing Japan, which no longer buys large amounts of Treasury notes. China is America's banker since China's foreign exchange reserve atand at about $2 trillion to be compared with America's relatively puny $73 billion.
People often say that China and America are equally dependent on each other,says Joseph Stiglitz, winner of the 2001 Nobel Prize in Economics."
In the conclusion of "Work and Study Cycle Theory"(1978)listed at www.loc.gov I envisioned the cooperation and collaboration of USA and China. Morever, I hinted such in all my blogs via www.Sino-American Economics in the past.
Economist Richard Moorsteen of the RAND Corporation published "Remaking China Policy" Harvard University Press in 1971 with the same positive scenario of USA and China. Search Richard Moorsteen at www.Google.com
Since Professor Niall Ferguson describes the birth of a new nation,namely Chimerica i.e. China and USA. Perhaps he would be eminently qualified to be the next US Ambassador to China. Needless to say,President-elect Obama would be in a position to nominate Professor Ferguson for such crucial assignmemt.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 and a watcher of Sino-American relations on Monday,November 24, 2008 at 10.15 a.m.
"Economists on both the left and right agree that a massive fiscal stimulus is needed and that for now, we should not be worrying about deficits,which could total between 1 trillion and $1.5 trillion, or between 7 and 11% of GDP- America has to get someone to buy its debt. And the only country with the cash to do so is CHINA.
In September, China became America's largest foreign creditor, surpassing Japan, which no longer buys large amounts of Treasury notes. China is America's banker since China's foreign exchange reserve atand at about $2 trillion to be compared with America's relatively puny $73 billion.
People often say that China and America are equally dependent on each other,says Joseph Stiglitz, winner of the 2001 Nobel Prize in Economics."
In the conclusion of "Work and Study Cycle Theory"(1978)listed at www.loc.gov I envisioned the cooperation and collaboration of USA and China. Morever, I hinted such in all my blogs via www.Sino-American Economics in the past.
Economist Richard Moorsteen of the RAND Corporation published "Remaking China Policy" Harvard University Press in 1971 with the same positive scenario of USA and China. Search Richard Moorsteen at www.Google.com
Since Professor Niall Ferguson describes the birth of a new nation,namely Chimerica i.e. China and USA. Perhaps he would be eminently qualified to be the next US Ambassador to China. Needless to say,President-elect Obama would be in a position to nominate Professor Ferguson for such crucial assignmemt.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 and a watcher of Sino-American relations on Monday,November 24, 2008 at 10.15 a.m.
Live well. Laugh often and Love much:aphorism for all
To the readers of US-China relations in the 21st century: ALOHA from an honorary citizen of Honolulu, Hawaii. Cheerful attitude is an important asset. Such asset may be worth more than money. Get invigorated by taking a proper path everyday. We are uniquely equipped to blaze a trail for the path of learning. Whichever we move we make, there will be a cost. The cost may be our time. We must strive for the equilibrium between time and value. Time should be spent with optimum. Any cost may be offset by the benefit. Such is cost and benefit analysis in our actions. Be reasonably rapturous for fun. Longevity may be attained via laughter for emotional outlet. It would be wise to utilize our ability to our best fit in the midst of a financial storm such as economic crisis nowadays. A smile and a kind face would be contributions to wellness. Wellness is sine qua non for human capital.
Human capital must be applied to Sino-American Economics in the days to come.
Francis Shieh a.k.a. Xie Shihao,a student of economic philosophy for optimal living in the mundane world.
Monday,November 24, 2008 at 6.30 a.m.
Human capital must be applied to Sino-American Economics in the days to come.
Francis Shieh a.k.a. Xie Shihao,a student of economic philosophy for optimal living in the mundane world.
Monday,November 24, 2008 at 6.30 a.m.
Sunday, November 23, 2008
Eggs and fish are good food sources of Vitamin D
Sequel to human capital of health apropos of Sino-American Economics: We can get foods rich in omega-3 fats to combat depression. Certain vitamins in food can change brain chemistry. Anything that affects our mood as a powerful drug when it comes to how we feel and act. The best food sources are salmon,m sardines and herring.
Vitamins B6,B12 have been studied for mood regulation. Foods rich in folic acid include leafy green veggie,sunflower seeds,soybeanm, beets, and oranges.
Stay healthy and live to be centenarians.
Francis Shieh a.k.a. Xie Shihao on Sunday,Nov.23, 2008 at 1.15 p.m.
Vitamins B6,B12 have been studied for mood regulation. Foods rich in folic acid include leafy green veggie,sunflower seeds,soybeanm, beets, and oranges.
Stay healthy and live to be centenarians.
Francis Shieh a.k.a. Xie Shihao on Sunday,Nov.23, 2008 at 1.15 p.m.
The Shadow of Deflation
A downward price spiral menaces American prosperity:-
Economists call it "asset price deflation" and it is driven by the worldwide shrinkage of credit and the corresponding scramble to turn anything that can still be sold into CASH. Acronym for Come All Stay Healthy. You better believe it! Jobs vanish, banks fail and the economy stagnates. The US government must enact a large package designed to free up as much consumer and business spending as possible. Published by the Washington Post,Nov.23,2008 on page B6 as an editorial.
My comment: We are living in a cashless society but we need CASH during financial crisis. Such oxymoron is a figure of speech combining seemingly contradictory expression. Truth untruthful kept us falsely true. Perplexed by the greedy perpetrators with or without savvy? That is the question of questions! Who is able to answer such queries? I would reiterate the aphorism from Professor John Kenneth Galbraith: "There are those who don't know and those who don't know they don't know." The case rests here with economic wisdom as an inexact science.
Francis Shieh a.k.a. Xie Shihao, an octogenarian learner to be unlearned until reaching the age as a centenarian. That remains to be seen in the days,weeks,months, years or decades to come.
Sunday,November 23, 2008 at 9.50 a.m.
Economists call it "asset price deflation" and it is driven by the worldwide shrinkage of credit and the corresponding scramble to turn anything that can still be sold into CASH. Acronym for Come All Stay Healthy. You better believe it! Jobs vanish, banks fail and the economy stagnates. The US government must enact a large package designed to free up as much consumer and business spending as possible. Published by the Washington Post,Nov.23,2008 on page B6 as an editorial.
My comment: We are living in a cashless society but we need CASH during financial crisis. Such oxymoron is a figure of speech combining seemingly contradictory expression. Truth untruthful kept us falsely true. Perplexed by the greedy perpetrators with or without savvy? That is the question of questions! Who is able to answer such queries? I would reiterate the aphorism from Professor John Kenneth Galbraith: "There are those who don't know and those who don't know they don't know." The case rests here with economic wisdom as an inexact science.
Francis Shieh a.k.a. Xie Shihao, an octogenarian learner to be unlearned until reaching the age as a centenarian. That remains to be seen in the days,weeks,months, years or decades to come.
Sunday,November 23, 2008 at 9.50 a.m.
"Payback" by Margaret Atwood. 230 pp. Paperback,$15.95
David Liss is the reviewer for the Book World,Nov.23,2008. It is a delightfully engaging, smart, funny,clever and terrifying analysis of the role debt plays in our culture, our consciousness, our economy and our ecology. She goes back to ancient worship to show how, in the afterlife, the soul's status was valued using models of credit and debit. If systems from personal relationships to global financial markets, operate on the assumption of basic fairness, then what happens when actors cannot or will not repay their debts? As we have seen with investment giants over-leveraged with bad derivatives, everything begins to break down, including the illusions that once held things together. Ineqality is reaching boiling point, and on human, national, economic and environmental fronts, we are setting ourselves up for some monumental payback. It is scary stuff, but lucky for us it is also entremely entertainings.
My comment: When we look at the paper currency,we find the small print:"This note is legal tender for all debts,public and private" How true when we are witnessing the public sector comes to rescue the private sector apropos of the global financial crisis as a clear evidence! Moreover,when we turn to the other side of the bill,we find the Caps: "IN GOD WE TRUST" We must trust the Divine Providence since the mundane world is a credit-based economy. All of us shall leave if we are aware of the letter M on the palm of our hands.
Francis Shieh a.k.a. Xie Shihao, an avid student of economics trying to learn such empiricism with spirituality in the secular society with trust and confidence of the papers(i.e. currency and government securities or commercial papers et al) plus plastic cards with financial clout that we cherish dearly. Such is in the light vein with intellectual humor if and when detected. Happy Thanksgiving (Nov.27,2008) to all those that we are indebted for the credits that we deserve or otherwise.(sic) Hehehahahoho all the way to strive to live to be centenarians. Amen!
Sunday, November 23,2008 at 7.08 a.m.
My comment: When we look at the paper currency,we find the small print:"This note is legal tender for all debts,public and private" How true when we are witnessing the public sector comes to rescue the private sector apropos of the global financial crisis as a clear evidence! Moreover,when we turn to the other side of the bill,we find the Caps: "IN GOD WE TRUST" We must trust the Divine Providence since the mundane world is a credit-based economy. All of us shall leave if we are aware of the letter M on the palm of our hands.
Francis Shieh a.k.a. Xie Shihao, an avid student of economics trying to learn such empiricism with spirituality in the secular society with trust and confidence of the papers(i.e. currency and government securities or commercial papers et al) plus plastic cards with financial clout that we cherish dearly. Such is in the light vein with intellectual humor if and when detected. Happy Thanksgiving (Nov.27,2008) to all those that we are indebted for the credits that we deserve or otherwise.(sic) Hehehahahoho all the way to strive to live to be centenarians. Amen!
Sunday, November 23,2008 at 7.08 a.m.
Saturday, November 22, 2008
Clinton and Jones may be nominated on Monday after Thanksgiving
If the headlines are going to be materialized as published online re the Washington Post,Georgetown University Alumni Association would be glad to have Mrs. Clinton's husband Bill Clinton and James L. Jones as products of Georgetown. Bill Clinton was former President for 8 years and Jones is an expert in National Security affairs as President-elect Obama's adviser. Moreover, Secretary of Defense Gates is a graduate of Georgetown University Graduate School with expertise in Russian affairs. Gates recommended that China must be consulted for US defense for the new administration i.e. North Korea's nuclear problem to be defused for peace in Asia and the world.
Francis Shieh, a.k.a. Xie Shihao, a graduate student at Georgetown from 1948-1950 with vivid memory of campus life. I still feel like a student notwithstanding my age as an octogenarian. To reciprocate Georgetown's scholarship, I have offered my six works to the Georgetown University library in the fields of Economics and China Studies. However,ten of my works are selected at the Library of Congress online catalog.www.loc.gov
November 22, 2008 at 2.32 p.m.
Francis Shieh, a.k.a. Xie Shihao, a graduate student at Georgetown from 1948-1950 with vivid memory of campus life. I still feel like a student notwithstanding my age as an octogenarian. To reciprocate Georgetown's scholarship, I have offered my six works to the Georgetown University library in the fields of Economics and China Studies. However,ten of my works are selected at the Library of Congress online catalog.www.loc.gov
November 22, 2008 at 2.32 p.m.
Washington Post,Nov .22, 2008 page D1,D3
Citi works to assure investors: The government remains committed to preventing the collapse of any large financial institutiion. Citigroup is one of the world's largest credit card lenders and issued a statement saying that Citi has a very strong capital and liquidity position and unique global franchise.
Mike Duke named CEO as world's largest retailer steps up foreign expansion: Photo shows customers leave a Wal-Mart supermarket in Hunan Province, China. The international division is the fastest growning segment of Wal-Mart's business.
The above is evidence of Sino-American Economics again.
Francis Shieh a.k.a. Xie Shihao on Saturday,Nov.22, 2008 at 10.30 a.m.
Mike Duke named CEO as world's largest retailer steps up foreign expansion: Photo shows customers leave a Wal-Mart supermarket in Hunan Province, China. The international division is the fastest growning segment of Wal-Mart's business.
The above is evidence of Sino-American Economics again.
Francis Shieh a.k.a. Xie Shihao on Saturday,Nov.22, 2008 at 10.30 a.m.
Thursday, November 20, 2008
Learning to work:microsoft.com/issues:WashPost,11/19/08 issue
Washington Post,Nov.19, 2008 on page A19:
"Developing US workforce to renew economic growth and extend opportunities for all." I have reason to believe that the Congress and the new president would endorse such goal in the years to come.
Three Georgetown professor published an article in the Washington Post,Oct.19, 2008 to that effect in the OUTLOOK section as dedication from the scholarly community to the needs to protect all Americans.
"Skilled workers are in high demand. America's workforce development programs are not up to the task of meeting this critical need." The same rationale was published in USA and UK re "Keys for Economic Understanding"(1971) with a vision for such purpose. Cf. www.Amazon.com and www.ask.com online book catalog.
"Amid rising unemployment as of Nov.20,08,released by US Dept.of Labor:lacking access to training in a changing society that would qualify workers for jobs with a future re shortage of needed human capital." Such issue was noted in the Congressional Record with an article entitled "The Future of Community Colleges" dated July 18, 1974.
Apprenticeship was offered at the US Department of Labor for young folks to have a lifetime career with decent pay. The elaboration of Apprenticeship program can be searched from the books entitled "Keys for Economic Undestanding"(1971) and "Keys to Economic Understanding"(1976) at www.Amazon.com online catalog.
Lifelong Learning: Every individual expects to thrive in a fast-moving global economy must continue learning. Public sector training program are designed to provide folks with marketable skills to supply the demand of the needs of a changing society in the 21st century. : "Work and Study Cycle Theory" was developed in 1978 and is available at www.loc.gov(Library of Congress online book catalog) and Georgetown University Library online catalog for reference.
Francis Shieh a.k.a. Xie Shihao,a lifelong student to promote training of skilled labor since 20th century but would be more relevant in the 21st century due to recession or depression in the days to come.
November 20, 2008 at 2.16 p.m.
"Developing US workforce to renew economic growth and extend opportunities for all." I have reason to believe that the Congress and the new president would endorse such goal in the years to come.
Three Georgetown professor published an article in the Washington Post,Oct.19, 2008 to that effect in the OUTLOOK section as dedication from the scholarly community to the needs to protect all Americans.
"Skilled workers are in high demand. America's workforce development programs are not up to the task of meeting this critical need." The same rationale was published in USA and UK re "Keys for Economic Understanding"(1971) with a vision for such purpose. Cf. www.Amazon.com and www.ask.com online book catalog.
"Amid rising unemployment as of Nov.20,08,released by US Dept.of Labor:lacking access to training in a changing society that would qualify workers for jobs with a future re shortage of needed human capital." Such issue was noted in the Congressional Record with an article entitled "The Future of Community Colleges" dated July 18, 1974.
Apprenticeship was offered at the US Department of Labor for young folks to have a lifetime career with decent pay. The elaboration of Apprenticeship program can be searched from the books entitled "Keys for Economic Undestanding"(1971) and "Keys to Economic Understanding"(1976) at www.Amazon.com online catalog.
Lifelong Learning: Every individual expects to thrive in a fast-moving global economy must continue learning. Public sector training program are designed to provide folks with marketable skills to supply the demand of the needs of a changing society in the 21st century. : "Work and Study Cycle Theory" was developed in 1978 and is available at www.loc.gov(Library of Congress online book catalog) and Georgetown University Library online catalog for reference.
Francis Shieh a.k.a. Xie Shihao,a lifelong student to promote training of skilled labor since 20th century but would be more relevant in the 21st century due to recession or depression in the days to come.
November 20, 2008 at 2.16 p.m.
Wednesday, November 19, 2008
China Tops Japan in US Debt Holdings
Washington Post,November 19, 2008 Business Section on page D1,D4: China Gains Sway Over US Economy -:
"China passed Japan to become the US government's largest foreign creditor in September, the Treasury Department announced yesterday, reflecting the dramatic expansion of China's economic influence over the American economy. China now owns nearly $1 out of every $10 in US public debt-meaning USA will be increasingly forced to rely on China as it seeks to raise money to cover the cost of a $700 billion bailout. The Treasury does not keep records on domestic bond holders. But analysts said China's holdings are so vast that the existence of a larger stakeholder in the US now seems unlikely." Such evidence may be verified from my previous blogs.
"Analysts say a decision by China to move out of US government bonds, for whatever reasons, could lead a herd of other investors to follow suit. That would drive up the cost of US borrowing, jeopardizing US ability to fund a stimulus package to jump-start the economy. If China were to stop buying or start selling US debt, it would quickly raise interest rates on a variety of loans in the US,anlysts say."
According to my personal judgment,China wants to be a friend of the US. Morever,China also is a participant of international community to maintain financial stability in the world for the wellbeing of humanity.
"China maintains the largest cash reserves of circa $2 trillion and has shed about $50 billion in the firms' debt and mortgage bonds. If China stays away from buying,Fannie Mae and Freddie Mac have had to pay more to borrow and have gotten less for mortgage bonds,pushing up rates for folks seeking home loans as the US government is trying to bring them down." "This is a sign of the growing interdependence between the Chinese and US economies, a sign of a healthy relationship in the long run" said Eswar Prasad, an economics professor at Cornell University and a senior fellow at the Brookings Institution. Such view is the same rationale in my past blogs.
Brad W. Setser,geoeconomics fellow at the Council on Foreign Relations said: "If US labor unions are pushing the incoming Obama administration to urge China to take steps to strengthen the Chinese RMB,which could involve a broad sell-off by China of US Treasury bonds,an unhealthy relationship would occur." My comment: Open trade is to be honored by the Law of Comparative Advantage and the Foreign Exchange Rate is to be determined by the Law of Demand and Supply. Should the leaders in US pay attention to the interest of American consumers who would like to buy products made overseas for less cost especially during the financial crisis?
Readers of the above are entitled to form own thoughts in the days to come for Sino-American economic relations.
Francis Shieh a.k.a. Xie Shihao watching the developments of two economies in the POSITIVE ways in the 21st century. Nobody would impugn,indeed!
November 19, 2008 at 10.16 a.m.
"China passed Japan to become the US government's largest foreign creditor in September, the Treasury Department announced yesterday, reflecting the dramatic expansion of China's economic influence over the American economy. China now owns nearly $1 out of every $10 in US public debt-meaning USA will be increasingly forced to rely on China as it seeks to raise money to cover the cost of a $700 billion bailout. The Treasury does not keep records on domestic bond holders. But analysts said China's holdings are so vast that the existence of a larger stakeholder in the US now seems unlikely." Such evidence may be verified from my previous blogs.
"Analysts say a decision by China to move out of US government bonds, for whatever reasons, could lead a herd of other investors to follow suit. That would drive up the cost of US borrowing, jeopardizing US ability to fund a stimulus package to jump-start the economy. If China were to stop buying or start selling US debt, it would quickly raise interest rates on a variety of loans in the US,anlysts say."
According to my personal judgment,China wants to be a friend of the US. Morever,China also is a participant of international community to maintain financial stability in the world for the wellbeing of humanity.
"China maintains the largest cash reserves of circa $2 trillion and has shed about $50 billion in the firms' debt and mortgage bonds. If China stays away from buying,Fannie Mae and Freddie Mac have had to pay more to borrow and have gotten less for mortgage bonds,pushing up rates for folks seeking home loans as the US government is trying to bring them down." "This is a sign of the growing interdependence between the Chinese and US economies, a sign of a healthy relationship in the long run" said Eswar Prasad, an economics professor at Cornell University and a senior fellow at the Brookings Institution. Such view is the same rationale in my past blogs.
Brad W. Setser,geoeconomics fellow at the Council on Foreign Relations said: "If US labor unions are pushing the incoming Obama administration to urge China to take steps to strengthen the Chinese RMB,which could involve a broad sell-off by China of US Treasury bonds,an unhealthy relationship would occur." My comment: Open trade is to be honored by the Law of Comparative Advantage and the Foreign Exchange Rate is to be determined by the Law of Demand and Supply. Should the leaders in US pay attention to the interest of American consumers who would like to buy products made overseas for less cost especially during the financial crisis?
Readers of the above are entitled to form own thoughts in the days to come for Sino-American economic relations.
Francis Shieh a.k.a. Xie Shihao watching the developments of two economies in the POSITIVE ways in the 21st century. Nobody would impugn,indeed!
November 19, 2008 at 10.16 a.m.
Tuesday, November 18, 2008
Wall Street Journal,Nov.18, 2008 with thoughts
Page A3: L. Summers and R. Rubin called for substantial fiscal stimulus to act aggressively to boost a flagging US economy well into next year or even longer.
I sent my blogs to the same effect.
Page B3: Lowe's,Home improvement chain with net falls 24% as consumers retreat. Recession is here in USA.
Page A12: Slowdown depresses China's fuel demand: A sharp drop in demand is hurting business. However, China's imports of crude oil grew at brisk pace taking advantage of cheap global oil prices for strategic petroleum reserve.
Page A20: Can placebos help our economy? The markets will ultimately demand that confidence be based on reality. I sent my prior blogs stressing empirical evidence as REAL ECONOMICS.
Page C3: Jin Liqun (with recent photo,)Chairman of China Investment Corp's supervisory board. Mr. Jin joined China's $200 billion sovereign wealth fund after serving as VP of Asian Development Bank and China's Vice Minister of Finance.
I do remember vividly that Mr. Jin and his boss,a director at World Bank came to visit me in 1981 when he told me that he was an English teacher in Sichuan with his command of the English language to pass the exams to join the Ministry of Finance for position requiring his skill in English. He was then trained in the field of economics at World Bank and became a high ranking official in banking and finance.
Page C6,C19: Bank of America boost its stake to 19.1% in China Construction Bank with US$7 billion,44.7 billion shares. Such is a sign of confidence in China's economy.
Page A16: New York Times:
Candidates for Obama's Inner Circle: John Brennan,B.A. from Fordham University,New York
Jacob Lew,B.A. Harvard with law degree from Georgetown University Law School. Both Fordham and Georgetown are under the Jesuits as top educators in China and in USA as I was a product many decades ago.
Francis Shieh a.k.a. Xie Shihao, a reader to recall my past personal experience from the above citation with fond memories.
Tuesday,November 18, 2008 at 2.52 p.m.
I sent my blogs to the same effect.
Page B3: Lowe's,Home improvement chain with net falls 24% as consumers retreat. Recession is here in USA.
Page A12: Slowdown depresses China's fuel demand: A sharp drop in demand is hurting business. However, China's imports of crude oil grew at brisk pace taking advantage of cheap global oil prices for strategic petroleum reserve.
Page A20: Can placebos help our economy? The markets will ultimately demand that confidence be based on reality. I sent my prior blogs stressing empirical evidence as REAL ECONOMICS.
Page C3: Jin Liqun (with recent photo,)Chairman of China Investment Corp's supervisory board. Mr. Jin joined China's $200 billion sovereign wealth fund after serving as VP of Asian Development Bank and China's Vice Minister of Finance.
I do remember vividly that Mr. Jin and his boss,a director at World Bank came to visit me in 1981 when he told me that he was an English teacher in Sichuan with his command of the English language to pass the exams to join the Ministry of Finance for position requiring his skill in English. He was then trained in the field of economics at World Bank and became a high ranking official in banking and finance.
Page C6,C19: Bank of America boost its stake to 19.1% in China Construction Bank with US$7 billion,44.7 billion shares. Such is a sign of confidence in China's economy.
Page A16: New York Times:
Candidates for Obama's Inner Circle: John Brennan,B.A. from Fordham University,New York
Jacob Lew,B.A. Harvard with law degree from Georgetown University Law School. Both Fordham and Georgetown are under the Jesuits as top educators in China and in USA as I was a product many decades ago.
Francis Shieh a.k.a. Xie Shihao, a reader to recall my past personal experience from the above citation with fond memories.
Tuesday,November 18, 2008 at 2.52 p.m.
Common Interest for US/China:WashPost,Nov.18,08
Page A24: The consumer chiefs of the Europeaan Union and the US called on China to crack down on unsafe products,especially toys, ahead of Christmas.
Representatives from the E.U.,the United States and China met in Brussels to sign a trilateral agreement aimed at enforcing product safety standards and exchanging information on food safety.
US to open FDA offices in Beijing,Guangzhou and Shanghai. I taught in Beijing from 1993-1996,Guangzhou in 1992-1993 and lectured in universities in Shanghai many times in the field of economics.
Page A27: Martin Feldstein published an article on US automakers: The government should insist that the unions accept reductions ih wages and benefits to levels that sllow the firms to compete with imports and with non-union US auto firms. The government should insist that management eliminate dividends and restrain salaries until the firms return to profitability.
Perhaps US automakers would collaborate with Chinese automakers as Japanese and Koreans have done in China. Food for thought for such Win-Win situations if such thought may be materialized apropos of Sino-American economics for mutual benefit.
Francis Shieh a.k.a. Xie Shihao on Tuesday,Nov.18, 2008 at 10.50 a.m.
Representatives from the E.U.,the United States and China met in Brussels to sign a trilateral agreement aimed at enforcing product safety standards and exchanging information on food safety.
US to open FDA offices in Beijing,Guangzhou and Shanghai. I taught in Beijing from 1993-1996,Guangzhou in 1992-1993 and lectured in universities in Shanghai many times in the field of economics.
Page A27: Martin Feldstein published an article on US automakers: The government should insist that the unions accept reductions ih wages and benefits to levels that sllow the firms to compete with imports and with non-union US auto firms. The government should insist that management eliminate dividends and restrain salaries until the firms return to profitability.
Perhaps US automakers would collaborate with Chinese automakers as Japanese and Koreans have done in China. Food for thought for such Win-Win situations if such thought may be materialized apropos of Sino-American economics for mutual benefit.
Francis Shieh a.k.a. Xie Shihao on Tuesday,Nov.18, 2008 at 10.50 a.m.
Monday, November 17, 2008
A Bridge for the Carmakers by Jeffrey D.Sachs
Washington Post,Nov.17, 2008 published Prof. Sachs' article with his views:
"A government supported restructuring of the auto industry is urgently needed for our economic and energy security. The recent ccollapse of annual sales from 17 million vehicles to 11 million, is not permanent but cyclical. Over time, sales will increase especially as people in China, India and other emerging markets become buyers."
Such positive scenario is the dream of the writer but the reality may be competition from carmakers in China and India in the years to come. Prof. Galbraith may be right again in saying that there are those who don't know and those who don't know they don't know. However,such vision may be realized with the proper policy from the government and the high-tech skills of American car manufacturers. Let us wait for the evidence during the course of time.
WashPost,Nov.16,08 on page A6: Economic crisis boils Democratic Message down to jobs.
Such blunt and focused rally-ing cry: "jobs,jobs,jobs" is certainly warranted with the situation today. "Keys for Economic Understanding" pointed out the same thought decades ago in 1960s. History repeats itself but it is more serious as the centerpiece of the agenda in Congress.
George F. Will published his article on 'Socialism'? It is already here as the Heading." Such hyperbole is not harmless" but misleading at best. The expansion of the public sector is needed now and American system is not 'Socialism' per se due to the traditional established root of the private sector.
Francis Shieh a.k.a. Xie Shihao,a student of comparative economics since 1943 to date. November 17, 2008 at 14.15 p.m.
"A government supported restructuring of the auto industry is urgently needed for our economic and energy security. The recent ccollapse of annual sales from 17 million vehicles to 11 million, is not permanent but cyclical. Over time, sales will increase especially as people in China, India and other emerging markets become buyers."
Such positive scenario is the dream of the writer but the reality may be competition from carmakers in China and India in the years to come. Prof. Galbraith may be right again in saying that there are those who don't know and those who don't know they don't know. However,such vision may be realized with the proper policy from the government and the high-tech skills of American car manufacturers. Let us wait for the evidence during the course of time.
WashPost,Nov.16,08 on page A6: Economic crisis boils Democratic Message down to jobs.
Such blunt and focused rally-ing cry: "jobs,jobs,jobs" is certainly warranted with the situation today. "Keys for Economic Understanding" pointed out the same thought decades ago in 1960s. History repeats itself but it is more serious as the centerpiece of the agenda in Congress.
George F. Will published his article on 'Socialism'? It is already here as the Heading." Such hyperbole is not harmless" but misleading at best. The expansion of the public sector is needed now and American system is not 'Socialism' per se due to the traditional established root of the private sector.
Francis Shieh a.k.a. Xie Shihao,a student of comparative economics since 1943 to date. November 17, 2008 at 14.15 p.m.
Team 'Chimerica' by Prof.Ferguson of Harvard University
Prof. Niall Ferguson of Harvard University published "Team Chimeria" i.e. China and America in the Washington Post,Monday, Nov. 17, 2008 on page A19:
"At the heart of this financial crisis is the huge imbalance between the United States with its current account deficit in excess of 1% of world gross domestic product, and the surplus countries that finance it: the oil exporters, Japan and emerging Asia. Of these, the relationship between China and America has become the crucial one. More than anything else, it has been China's strategy of dollar reserve accumulation that has financed America's debt habit. Chinese savings were a key reason US long-term interest rates stayed low and the borrowing binge kept going. Now that the age of leverage is over, "Chimeria" - the partnership between the big saver and the big spender - is key."
Such thought is identical to my previous blogs to stress the close economic relations of two nations i.e. USA and China in the 21st century for mutual benefit.
On page A18: The emerging markets are predicted to generate all of the world's economic growth in 2009, China and the Gulf states are among the few countries with sufficient reserves to supply the IMF and other multilateral financial institutions. The delicate business of the West is the sharing more wealth and power with non-Western countries. My recommendation is for Westerners (Americans)to study Chinese language and culture for better understanding of non-Western China. "A Glimpse of the Chinese Language" is available at www.rand.org free of charge as public service via PDF for useful and timely reference.
Expo 2010 in Shanghai will be held from April 30, 2010 to October 31, 2010 from 9 a.m. until night for 15 hours; totaling 184 days with all kinds of activities for visitors to enjoy such fascinating and unforgetable events. So far,157 international organizations have signed contracts to exhibit their products.
Francis Shieh a.k.a. Xie Shihao,a dedicated educator from Shanghai wishing to share knowledge with other readers of Sino-American Economics on Monday,November 17, 2008 at 9.48 a.m.
"At the heart of this financial crisis is the huge imbalance between the United States with its current account deficit in excess of 1% of world gross domestic product, and the surplus countries that finance it: the oil exporters, Japan and emerging Asia. Of these, the relationship between China and America has become the crucial one. More than anything else, it has been China's strategy of dollar reserve accumulation that has financed America's debt habit. Chinese savings were a key reason US long-term interest rates stayed low and the borrowing binge kept going. Now that the age of leverage is over, "Chimeria" - the partnership between the big saver and the big spender - is key."
Such thought is identical to my previous blogs to stress the close economic relations of two nations i.e. USA and China in the 21st century for mutual benefit.
On page A18: The emerging markets are predicted to generate all of the world's economic growth in 2009, China and the Gulf states are among the few countries with sufficient reserves to supply the IMF and other multilateral financial institutions. The delicate business of the West is the sharing more wealth and power with non-Western countries. My recommendation is for Westerners (Americans)to study Chinese language and culture for better understanding of non-Western China. "A Glimpse of the Chinese Language" is available at www.rand.org free of charge as public service via PDF for useful and timely reference.
Expo 2010 in Shanghai will be held from April 30, 2010 to October 31, 2010 from 9 a.m. until night for 15 hours; totaling 184 days with all kinds of activities for visitors to enjoy such fascinating and unforgetable events. So far,157 international organizations have signed contracts to exhibit their products.
Francis Shieh a.k.a. Xie Shihao,a dedicated educator from Shanghai wishing to share knowledge with other readers of Sino-American Economics on Monday,November 17, 2008 at 9.48 a.m.
Prof. Bernanke always loved macroeconomics. I concur!
Washington Post,Nov. 16,2008 in Outlook Section B1:
It was in January 2000, Prof. Bernanke explained why he had always loved macroeconomics. "What make his chosen field so compelling, were the extreme and dramatic events. It covers inflation and financial crises. This dramatic aspect always appealed to me." He said. It is so true in my mind as well.
I concur with Prof. Bernanke 100% as I have been attracted to Economics since I was at St.John's University in early 1940s. I taught Macroeconomics for more than 4 decades in USA and in China from 1950s to 2007. In August 1978,my article entitled "Macroeconomics of Stabilization" was published by the White House Conference on Balanced Economic Growth and I contributed to the textbooks by Richard T. Gill of Harvard and George Bach of Stanford in 1970s and 1980s. "Keys for Economic Understanding" is listed at www.Amazon.com and www.ask.com for reference.
The ultimate test of economic success is the contribution which economic activity has made to the goal of human happiness. Happiness is not material consumption over desire but I add intellectual pursuit, spiritual satisfaction and good health as the numerator above the line in a fraction over the desire as the denominator in the "Equation of Happiness." Thanks for reading with your endorsement or otherwise. Have a nice day!
Francis Shieh a.k.a. Xie Shihao, a student of economics forever on Nov.17,2008 at 7.12 a.m.
It was in January 2000, Prof. Bernanke explained why he had always loved macroeconomics. "What make his chosen field so compelling, were the extreme and dramatic events. It covers inflation and financial crises. This dramatic aspect always appealed to me." He said. It is so true in my mind as well.
I concur with Prof. Bernanke 100% as I have been attracted to Economics since I was at St.John's University in early 1940s. I taught Macroeconomics for more than 4 decades in USA and in China from 1950s to 2007. In August 1978,my article entitled "Macroeconomics of Stabilization" was published by the White House Conference on Balanced Economic Growth and I contributed to the textbooks by Richard T. Gill of Harvard and George Bach of Stanford in 1970s and 1980s. "Keys for Economic Understanding" is listed at www.Amazon.com and www.ask.com for reference.
The ultimate test of economic success is the contribution which economic activity has made to the goal of human happiness. Happiness is not material consumption over desire but I add intellectual pursuit, spiritual satisfaction and good health as the numerator above the line in a fraction over the desire as the denominator in the "Equation of Happiness." Thanks for reading with your endorsement or otherwise. Have a nice day!
Francis Shieh a.k.a. Xie Shihao, a student of economics forever on Nov.17,2008 at 7.12 a.m.
Sunday, November 16, 2008
Season to be jolly but retail sales data are disappointing
Washington Post,Nov. 15th page D4: It was another ugly month. Brian Bethume, chief US financial economist for IHS Global Insight, wrote in a research note. Recession could be moe difficult than some economists initially expected. Economists have worried that the economic downturn will translate into a brutal holiday shopping season for retailers. But the data could be worse.
Wall Street Journal, Nov.15-16,2008 weekend edition: Consumers hasten retreat, dimming holiday hopes.
Page A5: Breaddown of government stimulus spending in China:
Plans for the 4th quarter of 2008:
Total spending 100 billion Chinese Yuan i.e. RMB ($14.65 billion)
34% rural infrastructure
25% Rail, road and airport construction
13% Health, education and social services
10% Construction of publilc housing
Performance of China (Shanghai Composite) 13.7% +shares rise modestly.
New York Times: World leaders vow joint push to aid economy: New Round set for April 2009 after President Obama would make decision officially.
On PBS, the events of 1929 are portrayed with eerie causing mystery with fear. Economic crash from grace. Let me watch the happenings in the days to come.
Investor's Business Daily, Nov.17,2008:
Page A14: A resurgent China helped push world equity into positive territory and to outperform US diversified stock for a 2nd straight week.
Francis Shieh a.k.a. Xie Shihao, a reader share info with other readers.
Sunday,November 16, 2008 at 4.38 p.m.
Wall Street Journal, Nov.15-16,2008 weekend edition: Consumers hasten retreat, dimming holiday hopes.
Page A5: Breaddown of government stimulus spending in China:
Plans for the 4th quarter of 2008:
Total spending 100 billion Chinese Yuan i.e. RMB ($14.65 billion)
34% rural infrastructure
25% Rail, road and airport construction
13% Health, education and social services
10% Construction of publilc housing
Performance of China (Shanghai Composite) 13.7% +shares rise modestly.
New York Times: World leaders vow joint push to aid economy: New Round set for April 2009 after President Obama would make decision officially.
On PBS, the events of 1929 are portrayed with eerie causing mystery with fear. Economic crash from grace. Let me watch the happenings in the days to come.
Investor's Business Daily, Nov.17,2008:
Page A14: A resurgent China helped push world equity into positive territory and to outperform US diversified stock for a 2nd straight week.
Francis Shieh a.k.a. Xie Shihao, a reader share info with other readers.
Sunday,November 16, 2008 at 4.38 p.m.
China with Confucius as a Model for ethics and morality
Washington Post,Nov.15, 2008 page A18: "China and Japan have promised stimulus programs to help world financial crisis" as an editorial. Both nations have been under the influence of Confucianism. "Political and Economic Philosophy of Mencius" is listed at www.loc.gov(Library of Congress online catalog)
On page A3: President-Elect Obama has chosen Beliveau, a lawyer as the Director of Inauguration on Jan.20, 2009. Beliveau is a prominent Maine attorney and is a graduate of Georgetown Law School. The work on Confucianism is also available online at Georgetown University Library online catalog.
On page B7: Spirit of Compassion - All the great sages insist that compassion is the chief duty. The first person to do so was Confucius, who, 500+ years before Christ, was the first to formulate the Golden Rule: "Do not do to others what you would not like them to do to you." It was the central thread that ran through all his teaching and should be practiced all day and every day. Every single faith has evolved its own version of the Golden Rule, which requires us to look into our own hearts, discover what gives us pain, and refuse under any circumstance whatsoever to inflict that pain on anybody else. I am a disciple of Confucius and Mencius since I was a student in China and I believe that such teaching would be relevant to solve the financial crisis in terms of economics with ethics and morality.
Washington Post,Sunday,Nov.16,08 page N2: Confucius said: "What you know, you know,What you don't know, you don't know,This is true wisdom." Professor John K. Galbraith said: "There are those who don't know and those who don't know they don't know." That is wisdom as well. Let us look at the evidence in the world today and tomorrow apropos of the REAL ECONOMICS for folks on earth.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of economic philosophy including the moral aphorism of Adam Smith and Confucius/Mencius.
Sunday, Nov. 16,2008 at 7.11 a.m. in Maryland, USA
On page A3: President-Elect Obama has chosen Beliveau, a lawyer as the Director of Inauguration on Jan.20, 2009. Beliveau is a prominent Maine attorney and is a graduate of Georgetown Law School. The work on Confucianism is also available online at Georgetown University Library online catalog.
On page B7: Spirit of Compassion - All the great sages insist that compassion is the chief duty. The first person to do so was Confucius, who, 500+ years before Christ, was the first to formulate the Golden Rule: "Do not do to others what you would not like them to do to you." It was the central thread that ran through all his teaching and should be practiced all day and every day. Every single faith has evolved its own version of the Golden Rule, which requires us to look into our own hearts, discover what gives us pain, and refuse under any circumstance whatsoever to inflict that pain on anybody else. I am a disciple of Confucius and Mencius since I was a student in China and I believe that such teaching would be relevant to solve the financial crisis in terms of economics with ethics and morality.
Washington Post,Sunday,Nov.16,08 page N2: Confucius said: "What you know, you know,What you don't know, you don't know,This is true wisdom." Professor John K. Galbraith said: "There are those who don't know and those who don't know they don't know." That is wisdom as well. Let us look at the evidence in the world today and tomorrow apropos of the REAL ECONOMICS for folks on earth.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of economic philosophy including the moral aphorism of Adam Smith and Confucius/Mencius.
Sunday, Nov. 16,2008 at 7.11 a.m. in Maryland, USA
Saturday, November 15, 2008
New York Times , November 14,08 page A29:
Prof. Paul Krugman,the Nobel Laureate of Economic Science 2008 cited Goldman Sacks predicting the unemployment rate, currently at 6.5% will reach 8.5% by the end of 2009. Such scenario would have impact on the US economy next year. Moreover,minorities and unreported jobless folks would mean a higher rate of unemployment from recession to depression that we do not want to envision.
UK Psychologist: Paranoia(as the exaggerated or unfounded fear that others are trying to hurt you) on rise: 1 in 4 Londoners fear others are out to get them. Researcher finds. Published by EXPRESS,Nov.13,2008 on page 13.
Best Buy warns of seismic change: "The epic shopping spree is over." as the Headline. That means the consumption sector i.e. 2/3 of GDP as a measure to gauge economic activities, will be lowered in the days to come. From Recession to Depression. We hope NOT! We'll find out as time goes by.
Francis Shieh a.k.a. Xie Shihao,a student with positive scenario to watch Sino-American Economics after World Conference today,Nov. 15, 2008 at 4.16 p.m.
UK Psychologist: Paranoia(as the exaggerated or unfounded fear that others are trying to hurt you) on rise: 1 in 4 Londoners fear others are out to get them. Researcher finds. Published by EXPRESS,Nov.13,2008 on page 13.
Best Buy warns of seismic change: "The epic shopping spree is over." as the Headline. That means the consumption sector i.e. 2/3 of GDP as a measure to gauge economic activities, will be lowered in the days to come. From Recession to Depression. We hope NOT! We'll find out as time goes by.
Francis Shieh a.k.a. Xie Shihao,a student with positive scenario to watch Sino-American Economics after World Conference today,Nov. 15, 2008 at 4.16 p.m.
As summit starts,emerging nations weigh new clout
Washington Post,Nov.15, 2008 on page A1: Brazil, China, India step up in diplomatic power shift. China maintains the world's largest cash reserves and the USA is going deep into debt, the definition of rich has changed. What is "RICH?"
Rich may be in material things or spirituality in the mind? Which one is more meaningful for life? Ponder the reason to get the answer from your own mind,please?
Page A11: Report from Shanghai: Chinese consumers eager to excel at the American pastime. Pizza Hut for drink and one snack for US$5.15 or 35 RMB re Chinese currency Yuan. Consumption is a liberation for folks in Shanghai in particular. Here is another happening of Sino-American Economics.
World leaders from 19 nations have been invited to attend the G-20 Summit on Financial Markets and the World Economy Nov. 15 in Washington,D.C. They will be flying in and out of Andrews Air Force Base in Maryland as a historical event. I go to Andrews AF Base almost every day to the library with my own mark in history as my intellectual utility(satisfaction).
Francis Shieh a.k.a. Xie Shihao, a lifelong student of US-China economic relations from 1947 to date as a witness of history.
November 15, 2008 at 9.35 a.m. at Andrews AF Base Library for blogging.
Rich may be in material things or spirituality in the mind? Which one is more meaningful for life? Ponder the reason to get the answer from your own mind,please?
Page A11: Report from Shanghai: Chinese consumers eager to excel at the American pastime. Pizza Hut for drink and one snack for US$5.15 or 35 RMB re Chinese currency Yuan. Consumption is a liberation for folks in Shanghai in particular. Here is another happening of Sino-American Economics.
World leaders from 19 nations have been invited to attend the G-20 Summit on Financial Markets and the World Economy Nov. 15 in Washington,D.C. They will be flying in and out of Andrews Air Force Base in Maryland as a historical event. I go to Andrews AF Base almost every day to the library with my own mark in history as my intellectual utility(satisfaction).
Francis Shieh a.k.a. Xie Shihao, a lifelong student of US-China economic relations from 1947 to date as a witness of history.
November 15, 2008 at 9.35 a.m. at Andrews AF Base Library for blogging.
Friday, November 14, 2008
Toward a New International Capitalism:WashPost,11/14/08
Group of 20 financial summit at the National Building Museum in Washington,World leaders begin arriving today. Washington Post,Nov.14, 2008 on pages A1,D1:
"Americans are convinced that the raw, unregulated, laissez-faire capitalism closely asssociated with the American model has serious flaws and does not reliably produce the best outcome." Steven Pearlstein wrote such article.
My comment: Invest in human capital to enhance productivity in the public sector plus self- interest in the private sector with ethics and morality. Such may be the new model that everyone can live with in any nation. Adam Smith was a professor of moral philosophy before he published "The Wealth of Nations" and Confucianism promotes ethics and morality as the foundation of healthy and hopeful societies. Let us wait for the new model of finance and economics.
"The American Prospect" on page 9. Who knew? By Mark Schmitt
"Citizens own much of the financial economy, can we know enough to make those decisions well? Centralized ownership and planning are now favored over the dispersed knowledge of a market economy."
J. Tinbergen, first Dutch economist and Nobel Laureate in 1969 developed "Convergence Theory" i.e. "the Combo of the public sector and the private sector.) Such theory may be validated and implemented in the 21st century.
Francis Shieh a.k.a. Xie Shihao with interest in the aphorism of Adam Smith and Confucius/Mencius since 1940s. Needless to say,I admire the rationale of Professor Tinbergen with his vision of the world economy.
Friday,November 14, 2008 at 10.48 a.m.
"Americans are convinced that the raw, unregulated, laissez-faire capitalism closely asssociated with the American model has serious flaws and does not reliably produce the best outcome." Steven Pearlstein wrote such article.
My comment: Invest in human capital to enhance productivity in the public sector plus self- interest in the private sector with ethics and morality. Such may be the new model that everyone can live with in any nation. Adam Smith was a professor of moral philosophy before he published "The Wealth of Nations" and Confucianism promotes ethics and morality as the foundation of healthy and hopeful societies. Let us wait for the new model of finance and economics.
"The American Prospect" on page 9. Who knew? By Mark Schmitt
"Citizens own much of the financial economy, can we know enough to make those decisions well? Centralized ownership and planning are now favored over the dispersed knowledge of a market economy."
J. Tinbergen, first Dutch economist and Nobel Laureate in 1969 developed "Convergence Theory" i.e. "the Combo of the public sector and the private sector.) Such theory may be validated and implemented in the 21st century.
Francis Shieh a.k.a. Xie Shihao with interest in the aphorism of Adam Smith and Confucius/Mencius since 1940s. Needless to say,I admire the rationale of Professor Tinbergen with his vision of the world economy.
Friday,November 14, 2008 at 10.48 a.m.
Thursday, November 13, 2008
Investor's Business Daily,Nov.13,2008 page A10
US Trade Representative Schwab wrote about trade liberalization. He cited Columbia University Economics Professor Xavier estimating folks living in poverty globally declined by 350 million over last 3 decades, China, which has dramatically expanded trade,saw the number of its people in poverty declined by 377 million.
I have been advocating free and open trade to honor the Law of Comparative Advantage in prior blogs for reader's reference. November 15, 2008 G-20 Conference is to be noted for China's role in trade for the benefit of all nations.
Page A4: Peter Drucker, the management guru has European wisdom and American optimism. I would like to have Confucian wisdom with American upbeat.
Francis Xavier Shieh on November 13, 2008 at 3.25 p.m.
I have been advocating free and open trade to honor the Law of Comparative Advantage in prior blogs for reader's reference. November 15, 2008 G-20 Conference is to be noted for China's role in trade for the benefit of all nations.
Page A4: Peter Drucker, the management guru has European wisdom and American optimism. I would like to have Confucian wisdom with American upbeat.
Francis Xavier Shieh on November 13, 2008 at 3.25 p.m.
Supersize the IMF: WashPost,Nov.13,08 page A23
"Try thinking about global finance as you might think about your car insurance.
In the absence of a larger IMF, Brazil and its equivalents have two options. They can plan to rely on powerful central banks for emergency loans - during this crisis, the US Federal Reserve has provided $30 billion spiece to Brazil, South Korea, Singapore and Mexico. The problem is that financing from a certral bank may come with political conditions. That might sound fine if the central bank is the FED. But what if it is the People Bank of China which as more than enough reseres to play the IMF surrogacy game? A weak IMF could hand a powerful foreign policy tool to China."
My comment: Other leaders of G-20 believe that China should have a voice with other developing nations such as India as well? Let us watch the outcome on Nov.15, 2008.
Francis Shieh a.k.a. Xie Shihao, a student of REAL ECONOMICS in action. Nov.13,2008
In the absence of a larger IMF, Brazil and its equivalents have two options. They can plan to rely on powerful central banks for emergency loans - during this crisis, the US Federal Reserve has provided $30 billion spiece to Brazil, South Korea, Singapore and Mexico. The problem is that financing from a certral bank may come with political conditions. That might sound fine if the central bank is the FED. But what if it is the People Bank of China which as more than enough reseres to play the IMF surrogacy game? A weak IMF could hand a powerful foreign policy tool to China."
My comment: Other leaders of G-20 believe that China should have a voice with other developing nations such as India as well? Let us watch the outcome on Nov.15, 2008.
Francis Shieh a.k.a. Xie Shihao, a student of REAL ECONOMICS in action. Nov.13,2008
Why America need long-term economic strategy?
Business Week,Nov.10, 2008: Page 039: We need a coherent set of policies to ensure competitiveness over the long haul. It is a matter of priority,indeed! RAND economists recommended PPBS in 1960s and such planning,programming,budget system is included in "Keys for Economic Understanding(1971) www.Amazon.com and www.ask.com for reference. "Work and Study Cycle Theory"(1978) is an extension of such rationale to enhance productivity for economic growth in the 20th century as a vision for the 21st century and beyond...
Page 042: Unless the US improves the performance of its public schools,many Americans will find their standard of living under pressure.I have been advocating funding for public community colleges for decades. "The Future of Community Colleges",published by the Congressional Record,July 18, 1974 may be a useful reference to that effect.
Page 041: Hong Kong, Special Administrative Region of People's Republic of China is Nol. 1 re Openness in capital flow. No. 1 Low Trade barriers and No. 1 absence of distortions from taxes and subsidies. Data: Global competitiveness Report 2008-2009.
The 12th Annual CEO Forum will take place in Beijing,China on December 3-4 2008
Francis Shieh a.k.a. Xie Shihao, a reader shares information with other readers of Sino-Ammerican Economics. November 13, 2008 at 6.42 a.m.
Page 042: Unless the US improves the performance of its public schools,many Americans will find their standard of living under pressure.I have been advocating funding for public community colleges for decades. "The Future of Community Colleges",published by the Congressional Record,July 18, 1974 may be a useful reference to that effect.
Page 041: Hong Kong, Special Administrative Region of People's Republic of China is Nol. 1 re Openness in capital flow. No. 1 Low Trade barriers and No. 1 absence of distortions from taxes and subsidies. Data: Global competitiveness Report 2008-2009.
The 12th Annual CEO Forum will take place in Beijing,China on December 3-4 2008
Francis Shieh a.k.a. Xie Shihao, a reader shares information with other readers of Sino-Ammerican Economics. November 13, 2008 at 6.42 a.m.
Wednesday, November 12, 2008
Iraq signs $35 billiondeal for China to develop oil field
New York Times,Nov.12,2008: Iraq is going to deal with China as well as US as well as the UK. Equal opportunity in business dealings. That is fair and good for all parties involved as I would envision.
Obama's inner circle: Page A17:
Richard Danzig. National Security Adviser? Taught law at Georgetown University.
Austan Goolsbee. Member of Council of Economic Advisers? Ph.D.,MIT,a Fulbright Scholar.
Page B18: Ad from Zurich insurance with Chinese characters about shops in Hong Kong. Such scene reminds me about my stay in Hong Kong, 1989-1990 as a Fulbright Senior Scholar. I used to go to a restaurant named 3,6,9 for meals with Shanghai flavor and I spoke Chinese(Wu) dialect to the workers as fellow natives. Good old days with fond memories.
USA Today, Nov.12,08 page 1A:
Drug costs for seniors growing - some premiums went up 329% over 3 years.
Taiwan and China closer to eace on page 8A. Peace in the Taiwan strait finally.
Page 10A; Thankful Americans: Americans across USA will unite once again on Nov.27th to share history and recount mements of thanksgiving with family and friends.
Francis Shieh a.k.a. Xie Shihao on Nov. 12, 2008 and 2.48 p.m.
Obama's inner circle: Page A17:
Richard Danzig. National Security Adviser? Taught law at Georgetown University.
Austan Goolsbee. Member of Council of Economic Advisers? Ph.D.,MIT,a Fulbright Scholar.
Page B18: Ad from Zurich insurance with Chinese characters about shops in Hong Kong. Such scene reminds me about my stay in Hong Kong, 1989-1990 as a Fulbright Senior Scholar. I used to go to a restaurant named 3,6,9 for meals with Shanghai flavor and I spoke Chinese(Wu) dialect to the workers as fellow natives. Good old days with fond memories.
USA Today, Nov.12,08 page 1A:
Drug costs for seniors growing - some premiums went up 329% over 3 years.
Taiwan and China closer to eace on page 8A. Peace in the Taiwan strait finally.
Page 10A; Thankful Americans: Americans across USA will unite once again on Nov.27th to share history and recount mements of thanksgiving with family and friends.
Francis Shieh a.k.a. Xie Shihao on Nov. 12, 2008 and 2.48 p.m.
Stopping A Global Meltdown:WashPost,Nov.12,08 A19
C. Fred Bergsten,director of the Peterson Insititute for International Economics, was assistant Treasury secretary for international affairs from 1977 to 1981 and assistant for international economic affairs to the National Security Council from 1969 to 1971 published an excellent article in the Washington Post,Nov.12, 2008 on page A19:
"China, which now accounts for more than one-third of all global growth, has demonstrated admirable leadership by announcing an expansion program of much greater magnitude. It is up to the United States and Europe in particular, to follow suit; an international commitment should help overcome internal opposition to such steps especially in the United States and Germany." Here is a clear evidence of China's role to help international community in the name of humanity.
Bergsten wrote further: "Japan has offered $200 billion, and China with reserves nearing $2 trillion, could provide at least as much. The lenders would receive an IMF guarantee on this money and should welcome this alternative to US Treasury securities." Here we can detect Sino-American Economics apropos of IMF with global dimension in the 21st century... Asians have the most dynamic enonomies with most of the money." Here is an endorsement of my prior blogs re lifestyle of Asians to be reflected in the economies in Asia with the current needs to help the nations in the world. History may regard this weekend as the beginning of a transition in global economic power as well as a milestone in resolving the crisis of 2008.
On page A18: An independent consultant in nuclear power wrote: "France's good example to build plants and reduce our dependence on oil and coal within 10 years. China is in the process of doing this. It is building several large nuclear power plants a year. This can and should be done in the United States." This is another event of the common ground of USA and China.
Francis Shieh a.k.a. Xie Shihao, an observer of economic happenings on earth to be solved by folks on earth under the leaders with wisdom.
Wednesday, November 12, 2008 at 10.28 a.m.
"China, which now accounts for more than one-third of all global growth, has demonstrated admirable leadership by announcing an expansion program of much greater magnitude. It is up to the United States and Europe in particular, to follow suit; an international commitment should help overcome internal opposition to such steps especially in the United States and Germany." Here is a clear evidence of China's role to help international community in the name of humanity.
Bergsten wrote further: "Japan has offered $200 billion, and China with reserves nearing $2 trillion, could provide at least as much. The lenders would receive an IMF guarantee on this money and should welcome this alternative to US Treasury securities." Here we can detect Sino-American Economics apropos of IMF with global dimension in the 21st century... Asians have the most dynamic enonomies with most of the money." Here is an endorsement of my prior blogs re lifestyle of Asians to be reflected in the economies in Asia with the current needs to help the nations in the world. History may regard this weekend as the beginning of a transition in global economic power as well as a milestone in resolving the crisis of 2008.
On page A18: An independent consultant in nuclear power wrote: "France's good example to build plants and reduce our dependence on oil and coal within 10 years. China is in the process of doing this. It is building several large nuclear power plants a year. This can and should be done in the United States." This is another event of the common ground of USA and China.
Francis Shieh a.k.a. Xie Shihao, an observer of economic happenings on earth to be solved by folks on earth under the leaders with wisdom.
Wednesday, November 12, 2008 at 10.28 a.m.
Tuesday, November 11, 2008
British Prime Minister warns against protectionism
Washington Post, Nov. 11, 2008 on page A15:
Gordon Brown said:"As the world's financial system works through uncertainty towards a new dawn, we must use the power of multilateralism to establish a global consensus on a new, decisive and systemic approach to strengthening the global economy. My message is that we must be internationalist, not protectionist,interventionist, not neutral, progressive, not reactive,and forward-looking, not frozen by events. We can seize the moment and, in doing so,build a truly global society."
On page A18 Editorial: China has opted for economic stimulus, the G-20 summit might also be a good occasion for participating countries to agree on common principles for fiscal policy. Working in genuine cooperation with Europe,Japan and emerging countries to achieve reform.
I do endorse such statements as I sent my prior blogs to honor the Law of Comparative Advantage for free trade to benefit all trading nations.
Francis Shieh a.k.a. Xie Shihao, an economics educator and a student to watch with intense interest on November 15, 2008 re G-20 Conference and the repercussion in the days to come to try to solve global economic crisis in the 21st century. November 11, 2008 at 8 a.m.
Gordon Brown said:"As the world's financial system works through uncertainty towards a new dawn, we must use the power of multilateralism to establish a global consensus on a new, decisive and systemic approach to strengthening the global economy. My message is that we must be internationalist, not protectionist,interventionist, not neutral, progressive, not reactive,and forward-looking, not frozen by events. We can seize the moment and, in doing so,build a truly global society."
On page A18 Editorial: China has opted for economic stimulus, the G-20 summit might also be a good occasion for participating countries to agree on common principles for fiscal policy. Working in genuine cooperation with Europe,Japan and emerging countries to achieve reform.
I do endorse such statements as I sent my prior blogs to honor the Law of Comparative Advantage for free trade to benefit all trading nations.
Francis Shieh a.k.a. Xie Shihao, an economics educator and a student to watch with intense interest on November 15, 2008 re G-20 Conference and the repercussion in the days to come to try to solve global economic crisis in the 21st century. November 11, 2008 at 8 a.m.
Monday, November 10, 2008
New York Times,Nov. 10, 2008
Page A1: China announces sweeping plan to aid economy: A $586 billion package - Report from Shanghai: Bolstering its weakening economy, a sweeping move that could also help fight the effects of the global slowdown. Here we see the impact of global crisis to China's economy.
Page A25: Nobel Laureate in Economics 2008 - Paul Krugman recommends more stimulus i.e. to add 50% of the needs of US economy. "To err on the side of too much stimulus than on the side of too little." That is his sound reasoning. I would recommend another rebate checks to taxpayers to boost the domestic consumption sector, circa 2/3 of GDP asap. Let us wait for the empirical evidence during the course of time.
USA Today, Nov.10, 2008 on page 9B: China joints US,Japan and Germany for stimulus plans.
Wall Street Journal,Page A1 on Nov.10, 2008: Chinese factory workers seeking jobs to fill applications at a Job Fair because of global slowdown with photo.
Francis Shieh a.k.a. Xie Shihao,a reader to keep other readers informed about Sino-American Economics under the context "lai long qu mai" in Pin Yin of globalization.
Monday,November 10, 2008 at 2.52 p.m.
Page A25: Nobel Laureate in Economics 2008 - Paul Krugman recommends more stimulus i.e. to add 50% of the needs of US economy. "To err on the side of too much stimulus than on the side of too little." That is his sound reasoning. I would recommend another rebate checks to taxpayers to boost the domestic consumption sector, circa 2/3 of GDP asap. Let us wait for the empirical evidence during the course of time.
USA Today, Nov.10, 2008 on page 9B: China joints US,Japan and Germany for stimulus plans.
Wall Street Journal,Page A1 on Nov.10, 2008: Chinese factory workers seeking jobs to fill applications at a Job Fair because of global slowdown with photo.
Francis Shieh a.k.a. Xie Shihao,a reader to keep other readers informed about Sino-American Economics under the context "lai long qu mai" in Pin Yin of globalization.
Monday,November 10, 2008 at 2.52 p.m.
Welcome Step re China's Stimulus Plan
Washington Post,Nov.10, 2008 on page A12:
David H. McCormick, US undersecretary for international relations at the Treasury Department called China's Plan a "welcome step." He also said in Sao Paulo, Brazil:
"We certainly recognize that a big portion of what's happened to the global markets has been due to some of the challenges we've had in the United Ststes. We recognize a responsibiity to take leadership."
Here we can understand Sino-American Economics in terms of global economy as stated above with thoughts of upcoming G-20 Conference in the White House on Nov.15, 2008.
Francis Shieh a.k.a. Xie Shihao, an observer of the economic happenings with the opportunity of learning human behavior reflected in economic policy to solve global financial problems in the 21st century.
WashPost,Nov.9,08 page F2:
Nobel Laureate's Fund Halts Withdrawals:
Platinum Grove Management, the hedge-fund firm co-founded by Myron Scholes,the Nobel Winner in Economics, stopped investor withdrawals from its biggest fund after it lost 29% in the first half of October. Professor John K. Galbraith's aphorism decades ago is still true today:
"There are those who don't know and those who don't know they don't know."
Scholars (including Nobel Winner in Economics) are not in a position to guarantee the earning of profits in the markets. Economics is a science of change and choice in a nutshell.
Francis Shieh a.k.a. Xie Shihao, a lifetime student trying to learn the fluctuating fields of economics as "the Queen of Social Sciences" i.e. human behavior in the inexact economic science.
Monday, Nov. 10, 2008 at 10.26 a.m.
David H. McCormick, US undersecretary for international relations at the Treasury Department called China's Plan a "welcome step." He also said in Sao Paulo, Brazil:
"We certainly recognize that a big portion of what's happened to the global markets has been due to some of the challenges we've had in the United Ststes. We recognize a responsibiity to take leadership."
Here we can understand Sino-American Economics in terms of global economy as stated above with thoughts of upcoming G-20 Conference in the White House on Nov.15, 2008.
Francis Shieh a.k.a. Xie Shihao, an observer of the economic happenings with the opportunity of learning human behavior reflected in economic policy to solve global financial problems in the 21st century.
WashPost,Nov.9,08 page F2:
Nobel Laureate's Fund Halts Withdrawals:
Platinum Grove Management, the hedge-fund firm co-founded by Myron Scholes,the Nobel Winner in Economics, stopped investor withdrawals from its biggest fund after it lost 29% in the first half of October. Professor John K. Galbraith's aphorism decades ago is still true today:
"There are those who don't know and those who don't know they don't know."
Scholars (including Nobel Winner in Economics) are not in a position to guarantee the earning of profits in the markets. Economics is a science of change and choice in a nutshell.
Francis Shieh a.k.a. Xie Shihao, a lifetime student trying to learn the fluctuating fields of economics as "the Queen of Social Sciences" i.e. human behavior in the inexact economic science.
Monday, Nov. 10, 2008 at 10.26 a.m.
Atlantic Magazine,November 2008 issue: Hightlights
The Case for Debt: George Mason University Law Professor studies bankruptcy and consumer credit with answers to queries from a newspaper reporter.
Consumer credit runs amok(attributable to lifestyle under the influence of Ads?) and Americans are debt-ridden in a credit-based economy. That is one of the factors for current financial crisis to be reflected to other nations as i envisioned.
James Fallows published an article on China with the negative word "neurosis" but Pew Survey resulted with the positive satisfaction of the majority of folks in China about China. Read and make your own judgment about China in all fairness.
"Economic Gangsters" by Ray Fisman and Ed Mignel. Negative thoughts about the American economy. Princeton University Press. 2008. Read the new book and form your own judgment with fun.
Citi Ad: Since 1912, Shanghai Citi office became the first American bank in Asia.
"Why I Blog?" The interaction. It enables between writer and readers as unprecedented, visceral and somtimes brutal. It heralds a golden era for journalism. Blogging would develop more valuable skills with insights, ideas and arguments as premium plus .
I endorse such succinct remarks so I am a blogger.
Francis Shieh a.k.a. Xie Shihao, a blogger to render service to the readers.
Monday,November 10, 2008 at 6.45 a.m.
Consumer credit runs amok(attributable to lifestyle under the influence of Ads?) and Americans are debt-ridden in a credit-based economy. That is one of the factors for current financial crisis to be reflected to other nations as i envisioned.
James Fallows published an article on China with the negative word "neurosis" but Pew Survey resulted with the positive satisfaction of the majority of folks in China about China. Read and make your own judgment about China in all fairness.
"Economic Gangsters" by Ray Fisman and Ed Mignel. Negative thoughts about the American economy. Princeton University Press. 2008. Read the new book and form your own judgment with fun.
Citi Ad: Since 1912, Shanghai Citi office became the first American bank in Asia.
"Why I Blog?" The interaction. It enables between writer and readers as unprecedented, visceral and somtimes brutal. It heralds a golden era for journalism. Blogging would develop more valuable skills with insights, ideas and arguments as premium plus .
I endorse such succinct remarks so I am a blogger.
Francis Shieh a.k.a. Xie Shihao, a blogger to render service to the readers.
Monday,November 10, 2008 at 6.45 a.m.
Sunday, November 9, 2008
Joseph Stiglitz,Nobel Laureate in Economics
Professor Stiglitz of Columbia University published "MorePain to come, Even if Obama is perfect" in the Washington Post on Sunday Outlook on page B3:
"...A major problem Obama has to tackle is growing inequality in USA. Some of these trends will take decades to reverse, but ensuring that no Americans are denied a college education because they can't afford it,providing adequate funding for public schools and so forth would be a good beginning. "
I have been advocating public community colleges as positive externalities for optimum point re the Demand and Supply Curve to be shifted in graphic presentation leading to the increase of college-educated Americans as human resource to reduce the growing inequality in USA. "The Future of Community Colleges" was so dedicated and published by the Congressional Record,July 18, 1974 to be a reference to reinforce the same line of reasoning as Professor Siglitz pointed out in the article. Three Georgetown University professor published the same thought in the Washington Post,Oct.19,2008. It is always desirable to compare thoughts with other thinkers to try to resolve economic problems in education.
Francis Shieh a.k.a. Xie Shihao on November 9, 2008 at 3.50 p.m.
"...A major problem Obama has to tackle is growing inequality in USA. Some of these trends will take decades to reverse, but ensuring that no Americans are denied a college education because they can't afford it,providing adequate funding for public schools and so forth would be a good beginning. "
I have been advocating public community colleges as positive externalities for optimum point re the Demand and Supply Curve to be shifted in graphic presentation leading to the increase of college-educated Americans as human resource to reduce the growing inequality in USA. "The Future of Community Colleges" was so dedicated and published by the Congressional Record,July 18, 1974 to be a reference to reinforce the same line of reasoning as Professor Siglitz pointed out in the article. Three Georgetown University professor published the same thought in the Washington Post,Oct.19,2008. It is always desirable to compare thoughts with other thinkers to try to resolve economic problems in education.
Francis Shieh a.k.a. Xie Shihao on November 9, 2008 at 3.50 p.m.
I.O.U.S.A. just published by John Wiley & Sons,NY
New York. 2008. $19.95 A must reading for all Americans or other thinking folks who want to help change USA: to stop spending and to promote responsible economic programs.
Subscribe to free Personal Finance eNewsletter at Wiley.com/enewsletters
On page 90: Bill Bonner,President of Agora financial research group said: China is creating real wealth. The Real Wealth of Nations should be the human resource in any nation to be educated and trained to enhance productivity for growth with plasticity in the 21st century.
Page 202: Wall Street Journal Correspondent Areday in Shanghai: "China and the USA are closely linked in economics. That is the same rationale as I sent my blogs in Sino-American Economics for readers to realize the significance of US-China relations in the days to come for mutual benefit. It is very clear that China is investing in the USA as a friend with trust and confidence. Should US cooperate and collaborate with China in global economic growth? The answer is obviously clear and known to thinkers.
IOUSA: "One nation under stress in debt." By Addison Wiggin and Kate Incontrera.
"The President-Elect better take this seriously or I fear that we'll be in a much worse situation than a recession." David Walker,former Comptroller General of the United States.
Four Deficits the nation faces:
1. The budget deficit.
2. The personal savings defit.
3. The trade deficit.
4. The leadership deficit as called by the author who resigned abruptly in 2008 over Congress's lack of action.
Francis Shieh a.k.a. Xie Shihao to compare notes with others. Nov. 9, 2008
Subscribe to free Personal Finance eNewsletter at Wiley.com/enewsletters
On page 90: Bill Bonner,President of Agora financial research group said: China is creating real wealth. The Real Wealth of Nations should be the human resource in any nation to be educated and trained to enhance productivity for growth with plasticity in the 21st century.
Page 202: Wall Street Journal Correspondent Areday in Shanghai: "China and the USA are closely linked in economics. That is the same rationale as I sent my blogs in Sino-American Economics for readers to realize the significance of US-China relations in the days to come for mutual benefit. It is very clear that China is investing in the USA as a friend with trust and confidence. Should US cooperate and collaborate with China in global economic growth? The answer is obviously clear and known to thinkers.
IOUSA: "One nation under stress in debt." By Addison Wiggin and Kate Incontrera.
"The President-Elect better take this seriously or I fear that we'll be in a much worse situation than a recession." David Walker,former Comptroller General of the United States.
Four Deficits the nation faces:
1. The budget deficit.
2. The personal savings defit.
3. The trade deficit.
4. The leadership deficit as called by the author who resigned abruptly in 2008 over Congress's lack of action.
Francis Shieh a.k.a. Xie Shihao to compare notes with others. Nov. 9, 2008
Obama Economic Team:WashPost,Nov.8,08 p.A6
Eric Schmidt,Chief Executive of Google. "www.Google.com" is known online in China.
Laura Tyson,Prof.of Econ. at Cal-Berkeley,former Chairman of Council of Economic Advisers under Clinton. She published an article entitled: No China Bashing years ago. In other words,she has been alerted to unfair bashing against China years ago.
Robert Rubin,Citigroup executive. Citi has offices in Shanghai and Beijing.
Paul Volcker,former FED chairman, an adviser to China's economy sometime ago.
Lawrence Summers,former Treasury Secretary and ex- President of Harvard. I have reason to believe that he is alerted to the works by John Kenneth Galbraith and Richard T. Gill of Harvard apropos of Economics in the public interest. I cited their publications for readers' reference. Search such economists on line.
Robert Reich,former Labor Secretary. He should be aware of Apprenticeship programs under President Clinton. "Keys for Economic Understanding" is an elaboration of Apprenticeship programs recommended by three Georgetown University professors published by the Washington Post,Oct.19, 2008.
Page A15: Milton Friedman is quoted for his philosophy as a libertarian stressing utmost personal freedom leading to financial crisis as empirical evidence.? In other words,too much private interest has not been working well for the American economy,the public sector must intervene to rescue the US economy as we shall witness the economic policy under new president Obama with the endorsement of Congress. Let us wait and see the happenings as I have mentioned in my previous blogs including Sino-American Economics under the globalization.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 and still a student to learn the global economy in the 21st century.
November 9, 2008 at 6.32 a.m.
Laura Tyson,Prof.of Econ. at Cal-Berkeley,former Chairman of Council of Economic Advisers under Clinton. She published an article entitled: No China Bashing years ago. In other words,she has been alerted to unfair bashing against China years ago.
Robert Rubin,Citigroup executive. Citi has offices in Shanghai and Beijing.
Paul Volcker,former FED chairman, an adviser to China's economy sometime ago.
Lawrence Summers,former Treasury Secretary and ex- President of Harvard. I have reason to believe that he is alerted to the works by John Kenneth Galbraith and Richard T. Gill of Harvard apropos of Economics in the public interest. I cited their publications for readers' reference. Search such economists on line.
Robert Reich,former Labor Secretary. He should be aware of Apprenticeship programs under President Clinton. "Keys for Economic Understanding" is an elaboration of Apprenticeship programs recommended by three Georgetown University professors published by the Washington Post,Oct.19, 2008.
Page A15: Milton Friedman is quoted for his philosophy as a libertarian stressing utmost personal freedom leading to financial crisis as empirical evidence.? In other words,too much private interest has not been working well for the American economy,the public sector must intervene to rescue the US economy as we shall witness the economic policy under new president Obama with the endorsement of Congress. Let us wait and see the happenings as I have mentioned in my previous blogs including Sino-American Economics under the globalization.
Francis Shieh a.k.a. Xie Shihao, a graduate student from China in 1947 and still a student to learn the global economy in the 21st century.
November 9, 2008 at 6.32 a.m.
Friday, November 7, 2008
New York Times,November 7, 2008
Page A18: Lawrence Summers was Treasury Secretary from 1999 to 2001 with deep understanding of global economic issues. He is a graduate of MIT under Prof.Lester Thurow and Ph.D. from Harvard with exposures of Professor John Kenneth Galbraith and Prf. Richard T. Gill. Cf. my prior blogs about the two professors.
Page A27: Professor Paul Krugman cited FDR: "We have always known that heedless self interest was bad morals; we know now that it is bad economics - has never rung truer." i.e. self-centered interest is not moral as known. Adam Smith was a professor of moral philosophy and an economist with his publication of "The Wealth of Nations." Economics certainly has moral underpinnings.
Prof. Krugman: "providing aid to state and local governments to sustain public services is important." Here is a verification of positive externalities beyond the Demand and Supply Curves per se.
President-elect Obama has the political mandate and good economics as Professor Krugman envisions. Here is political economy in action in USA as described in "Keys for Economic Understanding" www.Amazon.com and www.ask.com for reference.
Page B1: China's economy shows rapid signs of fizzling via news reports from Shanghai.
Page B4: Chinese government is preparing a large economic stimulus package searching for ways to prop up severely depressed stock and real estate markets. Economists estimate China's economy could pick up steam by the second half of 2009.
Francis Shieh a.k.a. Xie Shihao,a lifelong student in Sino-American Economics with the above citation of similar happenings in USA and in China as common ground.
November 7, 2008 at 2.48 p.m.
Page A27: Professor Paul Krugman cited FDR: "We have always known that heedless self interest was bad morals; we know now that it is bad economics - has never rung truer." i.e. self-centered interest is not moral as known. Adam Smith was a professor of moral philosophy and an economist with his publication of "The Wealth of Nations." Economics certainly has moral underpinnings.
Prof. Krugman: "providing aid to state and local governments to sustain public services is important." Here is a verification of positive externalities beyond the Demand and Supply Curves per se.
President-elect Obama has the political mandate and good economics as Professor Krugman envisions. Here is political economy in action in USA as described in "Keys for Economic Understanding" www.Amazon.com and www.ask.com for reference.
Page B1: China's economy shows rapid signs of fizzling via news reports from Shanghai.
Page B4: Chinese government is preparing a large economic stimulus package searching for ways to prop up severely depressed stock and real estate markets. Economists estimate China's economy could pick up steam by the second half of 2009.
Francis Shieh a.k.a. Xie Shihao,a lifelong student in Sino-American Economics with the above citation of similar happenings in USA and in China as common ground.
November 7, 2008 at 2.48 p.m.
Washington Post,Nov.7,08 page D1,D4
Markets tumble as grim data pile up: Headline on page D1.
Dow drops 10% over two days as grim economic data weigh on investors. The troubles in the labor market are the evidence since more folks are out of job causing serious recession for 2008 or even 2009. Let us hope for the best but prepare for the worst.
It has been at recession levels for months now," said Robert MacIntosh, chief economist for Eaton Vance, a Boston investment management firm. For detailed annotation of "Recession" Cf. "Keys to Economic Understanding"(1976) at www.ask.com or www.Amazon.com for reference.
Francis Shieh a.k.a. Xie Shihao on Nov. 7th 2008. It is the starting date of winter as per Lunar Calendar known in China, Japan,Korea et al with such cultural affinity.
Dow drops 10% over two days as grim economic data weigh on investors. The troubles in the labor market are the evidence since more folks are out of job causing serious recession for 2008 or even 2009. Let us hope for the best but prepare for the worst.
It has been at recession levels for months now," said Robert MacIntosh, chief economist for Eaton Vance, a Boston investment management firm. For detailed annotation of "Recession" Cf. "Keys to Economic Understanding"(1976) at www.ask.com or www.Amazon.com for reference.
Francis Shieh a.k.a. Xie Shihao on Nov. 7th 2008. It is the starting date of winter as per Lunar Calendar known in China, Japan,Korea et al with such cultural affinity.
Thursday, November 6, 2008
Wall Street Journal and Investor'sBusDaily,Nov.6,08
Page A13: "The US needs China, China needs the US." Any cooperation would be mutally beneficial as I sent my blogs in the past re trade issues and the citation of the Law of Comparative Advantage. Most economist are in favor of free trade and open trade.
Page A17: "Obama's triumph is America's too. Like the senator,we are stronger for our diversity" Diversity of all races if American expertise will be utilized (with jobs) regardless of race,color,age,national origin et al.
Page C1: Another 444 points drop follows Election Day Rallys - 'Like a slap in the face.' as of 2.30 p.m.on Nov.6th
Investor's Business Daily: Nov.6th page A1: "Photo - Scenes of jubilation in Kenya,at the US Embassy in Beijing,China and in Paris after Obama was eleced president."" I think this is awesome and the whole world is backing him."
Francis Shieh a.k.a. Xie Shihao,a supporter of Obama in Maryland,USA. Nov.6,08 at 3.25 p.m.
Page A17: "Obama's triumph is America's too. Like the senator,we are stronger for our diversity" Diversity of all races if American expertise will be utilized (with jobs) regardless of race,color,age,national origin et al.
Page C1: Another 444 points drop follows Election Day Rallys - 'Like a slap in the face.' as of 2.30 p.m.on Nov.6th
Investor's Business Daily: Nov.6th page A1: "Photo - Scenes of jubilation in Kenya,at the US Embassy in Beijing,China and in Paris after Obama was eleced president."" I think this is awesome and the whole world is backing him."
Francis Shieh a.k.a. Xie Shihao,a supporter of Obama in Maryland,USA. Nov.6,08 at 3.25 p.m.
Comments on the Brain Trust.WashPost,11/6/08,D1
1. Lawrence Summers: "Advocating for more extensive government intervention to protect the econom throughout the financial crisis." Another rebate to taxpayers would be timely to stimulate US economy asap before serious recession or depression.
2. Robert Rubin: Background with Citigroup and the Treasury Department. He is eminently qualified to be an advisor to the Treasury for financial crisis.
3. Paul Volcker: An American consultant for China's economy. His expertise may be utilized for Sino-American Economics.
4. Austan Goolsbee: Focusing on applying economics to everyday behavior. Such focus would be most relevant to financial crisis in the days to come.
5. Jason Furman: As an aide to Nobel laureate Joseph Stiglitz,he promotes globalization as benefits of free trade with his praise for Wal-Mart. He would be an authority for US-China economic relations in the days to come.
Francis Shieh,one of the economic thinkers as an octogenarian for the reference of the team Obama administration apropos of economic policy involving Sino-American Economics.
November 6, 2008 at 12.11 p.m.
2. Robert Rubin: Background with Citigroup and the Treasury Department. He is eminently qualified to be an advisor to the Treasury for financial crisis.
3. Paul Volcker: An American consultant for China's economy. His expertise may be utilized for Sino-American Economics.
4. Austan Goolsbee: Focusing on applying economics to everyday behavior. Such focus would be most relevant to financial crisis in the days to come.
5. Jason Furman: As an aide to Nobel laureate Joseph Stiglitz,he promotes globalization as benefits of free trade with his praise for Wal-Mart. He would be an authority for US-China economic relations in the days to come.
Francis Shieh,one of the economic thinkers as an octogenarian for the reference of the team Obama administration apropos of economic policy involving Sino-American Economics.
November 6, 2008 at 12.11 p.m.
Several Recommendations to Obama Administration
1. Strengthening US position with links to other nations apropos of the issue of proliferation re nuclear weapons via the United Nations for international reinforcement.
2. Diplomacy to encourage positive trends in China such as Expo 2010 in Shanghai. Exhibit American products in Shanghai by recruiting Americans of Shanghai ancestry to promote more trade with China for US interest in East Asia.
3. Spreading scientific and technological initiatives of US entrepreneuship to other nations to promote business for Americans in the age of globalization. Space research may be a significant project in the 21st century.
4. Taking care of the less fortunate folks in USA by providing training opportunities such as apprenticeship programs as published in the Washington Post,Oct.19, 2008 by three professors from Georgetown University. Cf. "Keys for Economic Understanding" for elaborations. Cf. www.Amazon.com book for reference.
Francis Shieh, a citizen of USA since November 1954,a graduate of Georgetown University Graduate School in 1950 and a Fulbright Senior Scholar,Hong Kong, 1989-1990. Search francis shieh at www.Google.com for reference.
November 6, 2008 at 6.20 a.m.
2. Diplomacy to encourage positive trends in China such as Expo 2010 in Shanghai. Exhibit American products in Shanghai by recruiting Americans of Shanghai ancestry to promote more trade with China for US interest in East Asia.
3. Spreading scientific and technological initiatives of US entrepreneuship to other nations to promote business for Americans in the age of globalization. Space research may be a significant project in the 21st century.
4. Taking care of the less fortunate folks in USA by providing training opportunities such as apprenticeship programs as published in the Washington Post,Oct.19, 2008 by three professors from Georgetown University. Cf. "Keys for Economic Understanding" for elaborations. Cf. www.Amazon.com book for reference.
Francis Shieh, a citizen of USA since November 1954,a graduate of Georgetown University Graduate School in 1950 and a Fulbright Senior Scholar,Hong Kong, 1989-1990. Search francis shieh at www.Google.com for reference.
November 6, 2008 at 6.20 a.m.
Wednesday, November 5, 2008
Wall Street Journal,Nov.5, 2008
Page A1: As economic crisis peaked, tide turned against McCain. Obama won apropos of the economy. It is the economy! Smart with Know-all.(sic)
Page 23 "In 1968Robert F. Kennedy reminded Americans that the Dow Jones Industrial Average and GNP measure neither our national spirit nor our national achievement. Both metrics fail to consider the integrity of our environment, the health of our families and the quality of our education. As he put it, the GNP measures neither our wit nor our courage,neither our wisdom,nor our learning,neither our compassion nor our devotion to country. It measures everything in short, except that which makes life worthwhile." Think and ponder such deep thoughts!
My comment: Economics is related to philosophy of life as one sees it this way and the other person sees the other way. What is our goal in life? I questioned my students decades ago and the answer was money" but money is paper currency. It would be profound thoughtsin cosmology,ontology and epistemology. Moreover,asthetics asthe real enjoyment with extra dimension.
The Keynesian Cross is modeled after Aggregate Supply and AggregateDemand with the intersection re expansionary/contradictionary gaps to cause inflation or recession as the case may be. Let us watch the moving of the curves as empirical evidence in the field of economics.
Page B2: Chinese car sales cool off. Growth is forecast in thesingle digits as stock market plunges. Prperty prices drop and falling. Well,we detect the contractionary gap in the Keynesian Model with such movements.
Francis Shieh a.k.a. Xie Shihao,a student of economic philosophy today and tomorrow ad infinitum with passion.
November 5, 2008 at 2.40 p.m.
Page 23 "In 1968Robert F. Kennedy reminded Americans that the Dow Jones Industrial Average and GNP measure neither our national spirit nor our national achievement. Both metrics fail to consider the integrity of our environment, the health of our families and the quality of our education. As he put it, the GNP measures neither our wit nor our courage,neither our wisdom,nor our learning,neither our compassion nor our devotion to country. It measures everything in short, except that which makes life worthwhile." Think and ponder such deep thoughts!
My comment: Economics is related to philosophy of life as one sees it this way and the other person sees the other way. What is our goal in life? I questioned my students decades ago and the answer was money" but money is paper currency. It would be profound thoughtsin cosmology,ontology and epistemology. Moreover,asthetics asthe real enjoyment with extra dimension.
The Keynesian Cross is modeled after Aggregate Supply and AggregateDemand with the intersection re expansionary/contradictionary gaps to cause inflation or recession as the case may be. Let us watch the moving of the curves as empirical evidence in the field of economics.
Page B2: Chinese car sales cool off. Growth is forecast in thesingle digits as stock market plunges. Prperty prices drop and falling. Well,we detect the contractionary gap in the Keynesian Model with such movements.
Francis Shieh a.k.a. Xie Shihao,a student of economic philosophy today and tomorrow ad infinitum with passion.
November 5, 2008 at 2.40 p.m.
ALL FOLKS ARE CREATED EQUAL
Washington Post, Nov. 5, 2008 page A22:
"We hold these truths to be self evident, that all men(women) are created equal. Ratified November 4, 2008. Red, White and Blue America: President Obama: -
A new direction in challenging times, a new dawn in the nation's long struggle to bridge its racial divide." My comment: A human being is a human being is a human being as homosapiens,indeed!
Barack Obama, 44th president of the United States: Like so many millions of Americans, we savor the phrase, and congratulate the winner, and celebrate the momentousness of the occasion.
Mr. McCann's call for "good will and earnest effort to come together," and his pledge to Mr. Obama "to do all in my power to help him lead us through the many challenges we face" were in keeping with his history of bipartisanship in the service of the nation."
Francis Shieh a.k.a. Xie Shihao, an octogenarian looking forward to see the changes for a better America.
November 5, 2008 at 9.16 a.m.
"We hold these truths to be self evident, that all men(women) are created equal. Ratified November 4, 2008. Red, White and Blue America: President Obama: -
A new direction in challenging times, a new dawn in the nation's long struggle to bridge its racial divide." My comment: A human being is a human being is a human being as homosapiens,indeed!
Barack Obama, 44th president of the United States: Like so many millions of Americans, we savor the phrase, and congratulate the winner, and celebrate the momentousness of the occasion.
Mr. McCann's call for "good will and earnest effort to come together," and his pledge to Mr. Obama "to do all in my power to help him lead us through the many challenges we face" were in keeping with his history of bipartisanship in the service of the nation."
Francis Shieh a.k.a. Xie Shihao, an octogenarian looking forward to see the changes for a better America.
November 5, 2008 at 9.16 a.m.
President-Elect Obama is going to lead the nation
ALOHA to the native of Honolulu, Hawaii. His election is the joy to the world. I have reason to believe that the new leader will make USA a better nation to take care of the colorful folks with his multi-racial background.
I wish to congratulate the new leader most sincerely as a supporter and I am sure he would be in a position to cooperate and collaborate with nations in Europe,Asia, Australia and Africa to maaintain security and peace with economic development in the world. G-20 on November 15, 2008 would be the opportunity to try to solve financial problems with World Bank and IMF. My best wishes to all the leaders from nations on earth.
Francis Shieh, a.k.a. Xie Shihao, a native of Shanghai, China and an Honorary Citizen of the City of Honolulu and the State of Hawaii. I taught in California for two decades and three years in Michigan. I also lived in New York and New Jersey in 1950s. Since 1965,I have been a resident in the State of Maryland. Nov. 5, 2008 at 6.10 a.m.
I wish to congratulate the new leader most sincerely as a supporter and I am sure he would be in a position to cooperate and collaborate with nations in Europe,Asia, Australia and Africa to maaintain security and peace with economic development in the world. G-20 on November 15, 2008 would be the opportunity to try to solve financial problems with World Bank and IMF. My best wishes to all the leaders from nations on earth.
Francis Shieh, a.k.a. Xie Shihao, a native of Shanghai, China and an Honorary Citizen of the City of Honolulu and the State of Hawaii. I taught in California for two decades and three years in Michigan. I also lived in New York and New Jersey in 1950s. Since 1965,I have been a resident in the State of Maryland. Nov. 5, 2008 at 6.10 a.m.
Tuesday, November 4, 2008
I voted to choose a better candidate by judgment
The new president will leave no stone unturned to find ways to grow the economy, dislodge us prudently from Iraq, restore American reputation in the world, uphold our Constitution (especialy the 14th amendment,Section I) and strengthen the social safety net the Bush administration has been trying for 8 years to shred.
I wear a cap to support Obama as I see a new day of hope and connection with a leader I view as having the issues in my mind and at heart to end discrimination inimical to the spirit of America. As a native of Honolulu,Hawaii, the leader has been exposed to all races for a colorful USA.
Page B2 General Electric Orders Jets Made by China: About 750 million to challenge the dominance of Boeing and Airbus in the aviation market. Each plane costs $30 million with 25 orders altogether as options. GE spokesman said.
Investor's Business Daily: Headline - Factory gauge falls to 26-year low, signaling recession as I sent my blogs in the past with evidence at present.
USAToday,Nov.4, 2008: Page 1B Delta Chief getting $13.6 milliion after merger with NWA. Employees get stocks rendering "better service" hopefully. That is the reason I fly to Shanghai via Delta in January and February 2009 to find out the empirical evidence as a witness in the light vein.
2B: Grim economic news elevates economists's fear: - a rash of dismal data underscored concerns that the nation is falling into a deep recession - same as the Headline at Investgor's Business Daily above. Global demand is slowing as foreign economies falter and the US Dollar rises against other currencies. Such happenings would be revealing the hard times for folks at home and abroad.
Francis Shieh a.k.a. Xie Shihao,born in 1926 with wisdom of age if honored.(sic)
November 4, 2008 at 2.28 p.m.
I wear a cap to support Obama as I see a new day of hope and connection with a leader I view as having the issues in my mind and at heart to end discrimination inimical to the spirit of America. As a native of Honolulu,Hawaii, the leader has been exposed to all races for a colorful USA.
Page B2 General Electric Orders Jets Made by China: About 750 million to challenge the dominance of Boeing and Airbus in the aviation market. Each plane costs $30 million with 25 orders altogether as options. GE spokesman said.
Investor's Business Daily: Headline - Factory gauge falls to 26-year low, signaling recession as I sent my blogs in the past with evidence at present.
USAToday,Nov.4, 2008: Page 1B Delta Chief getting $13.6 milliion after merger with NWA. Employees get stocks rendering "better service" hopefully. That is the reason I fly to Shanghai via Delta in January and February 2009 to find out the empirical evidence as a witness in the light vein.
2B: Grim economic news elevates economists's fear: - a rash of dismal data underscored concerns that the nation is falling into a deep recession - same as the Headline at Investgor's Business Daily above. Global demand is slowing as foreign economies falter and the US Dollar rises against other currencies. Such happenings would be revealing the hard times for folks at home and abroad.
Francis Shieh a.k.a. Xie Shihao,born in 1926 with wisdom of age if honored.(sic)
November 4, 2008 at 2.28 p.m.
US borrowing to jump and China holds US securities
"The federal government plans to borrow $550 billion in the last three months in 2008 to pay for financial rescue packages. Treasury Department officials also projeced the the government would need an additonal $368 billion during first three months of 2009." Published by the Washington Post,Nov.4, 2008 on page D2. America is a debtor nation as we are aware of the fact.
I have reason to believe that China will cooperate to solve global financial problems with other nations with International Monetary Fund and World Bank. G-20 meeting on Nov.20, 2008 would include China to participate with other nations to try to solve financial crisis in the name of globalization.
The readers of Sino-American Economics can reason the positive US-China economic relations under the new administration of a new president of the USA.
Francis Shieh a.k.a. Xie Shihao on November 4, 2008 at 10.35 a.m.
I have reason to believe that China will cooperate to solve global financial problems with other nations with International Monetary Fund and World Bank. G-20 meeting on Nov.20, 2008 would include China to participate with other nations to try to solve financial crisis in the name of globalization.
The readers of Sino-American Economics can reason the positive US-China economic relations under the new administration of a new president of the USA.
Francis Shieh a.k.a. Xie Shihao on November 4, 2008 at 10.35 a.m.
Monday, November 3, 2008
Humor helps longevity, a cheeful experience in life
An Octogenarian may be considered as his/her golden years. Growing with age may generate negative scenario. But we do know that age is merely a number. Thinking young as a "xiaohozi" with my mindset to be a student all the time.
It would be gratifying to witness history in the making for a new US president on Nov.4 2008, (tomorrow) with smiling upbeat in happy mood to see the changes after inauguration on January 20, 2009.
The best thing in life is the discovery of the true meaning with faith,hope and love.
Moreover,doing eleemosynary work to help others with knowledge is certainly a dedicated task as a volunteer with good cheers.
America is a land of opportunity. China is on the move with progress and achievement in the 21st century.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai in 1947 but still a learner to keep young at heart with zeal for fun in life.
November 3, 2008 at 10.40 a.m.
It would be gratifying to witness history in the making for a new US president on Nov.4 2008, (tomorrow) with smiling upbeat in happy mood to see the changes after inauguration on January 20, 2009.
The best thing in life is the discovery of the true meaning with faith,hope and love.
Moreover,doing eleemosynary work to help others with knowledge is certainly a dedicated task as a volunteer with good cheers.
America is a land of opportunity. China is on the move with progress and achievement in the 21st century.
Francis Shieh a.k.a. Xie Shihao, a graduate student from Shanghai in 1947 but still a learner to keep young at heart with zeal for fun in life.
November 3, 2008 at 10.40 a.m.
Sunday, November 2, 2008
Sequel to my blag:Harmony and Fortune for US/China
New York Times. Education Issue: Page 14: The Chinese characters of Harmony and Fortune are published i.e."Hexie" and "Xingfu" in Pin Yin system of romanization. For annotations,please search "A Glimpse of the Chinese Language" PDF free of charge as public service at www.rand.org at no cost.
Page 15: Great teachers never stop learning as published in the education section attachment, New York Times,Nov.2, 2008. "Work and Study Cycle Theory" may be validated and implemented to dedicated teachers all over the world re Sino-American Economics of building human capital to enhance productivity. www.ask.com or www.amazon.com for reference.
Francis Shieh a.k.a. Xie Shihao,an octogenarian teacher since 1945 but still a learner to seek new knowledge for enrichment.
Sunday,November 2, 2008 at 3.25 p.m.
Page 15: Great teachers never stop learning as published in the education section attachment, New York Times,Nov.2, 2008. "Work and Study Cycle Theory" may be validated and implemented to dedicated teachers all over the world re Sino-American Economics of building human capital to enhance productivity. www.ask.com or www.amazon.com for reference.
Francis Shieh a.k.a. Xie Shihao,an octogenarian teacher since 1945 but still a learner to seek new knowledge for enrichment.
Sunday,November 2, 2008 at 3.25 p.m.
Many views on modern economic growth
Washington Post, Nov.2, 2008 on page A19: Reports from London, Paris, Tokyo and Shanghai:-
"Whereas the US and Britain largely shaped the postwar financial system, financial regulation and coordination will now require the participation of a broader and more unwieldy group, including emerging economies, many of them loaded with foreign exchange reserves, foreign debts and influence over global financial markets.
Leaders are already maneuvering for position. Sarkozy, in particular, has methodically sought allies.
Robert Hormats at Goldman Sachs and former National Security Council staffer said that the Nov.15th summit would be valuable if it became the first in a series of G-20 meetings, widerning economic coordination.
Francis Shieh a.k.a. Xie Shihao quotes the above news for the interest of readers to understand the globalization of economics including Sino-American economics.
Sunday, November 2, 2008 at 1.26 p.m.
"Whereas the US and Britain largely shaped the postwar financial system, financial regulation and coordination will now require the participation of a broader and more unwieldy group, including emerging economies, many of them loaded with foreign exchange reserves, foreign debts and influence over global financial markets.
Leaders are already maneuvering for position. Sarkozy, in particular, has methodically sought allies.
Robert Hormats at Goldman Sachs and former National Security Council staffer said that the Nov.15th summit would be valuable if it became the first in a series of G-20 meetings, widerning economic coordination.
Francis Shieh a.k.a. Xie Shihao quotes the above news for the interest of readers to understand the globalization of economics including Sino-American economics.
Sunday, November 2, 2008 at 1.26 p.m.
Adam Smith and Confucius/Mencius re economics
Washington Post, Nov. 2, 2008 page B3:
Good Old American Value: Adam Smith as a professor of moral philosophy and Good Old Chinese value: Confucianism. Common Ground for Sino-American Economics as I envision.
"The Latin word "valere" meant "to be strong, be well, be of value" and is related to "valiant." Perhaps a person with good value should be courageous to fight the evils in any society with such annotation.
"Values become a popular term in the United States mostly in describing the kinds of ideas and customs that are specific to or relative to various societies or culture.
Basic values, properly understood, are compatible and harmonious." as published in the WashPost today.
China encourages and promotes a harmonious socity. Here the twin of the West and the East shall meet in the 21st century apropos of Sino-American Economics in every respect of Moral Economics with Ethics as the aphorism.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of economic philosophy as the issue of economics in the world.
November 2, 2008 at 10.38 a.m.
Good Old American Value: Adam Smith as a professor of moral philosophy and Good Old Chinese value: Confucianism. Common Ground for Sino-American Economics as I envision.
"The Latin word "valere" meant "to be strong, be well, be of value" and is related to "valiant." Perhaps a person with good value should be courageous to fight the evils in any society with such annotation.
"Values become a popular term in the United States mostly in describing the kinds of ideas and customs that are specific to or relative to various societies or culture.
Basic values, properly understood, are compatible and harmonious." as published in the WashPost today.
China encourages and promotes a harmonious socity. Here the twin of the West and the East shall meet in the 21st century apropos of Sino-American Economics in every respect of Moral Economics with Ethics as the aphorism.
Francis Shieh a.k.a. Xie Shihao, a lifelong student of economic philosophy as the issue of economics in the world.
November 2, 2008 at 10.38 a.m.
Saturday, November 1, 2008
USAToday,Oct.31-Nov.2nd and Investor's Business Daily,Oct.31,08
Page 10A:
When US doles out bailout candy: Cash infusions: -
Citigroup $25 billion.
J.P. Morgan Chase Ditto.
Wells Fargo Ditto.
Bank of America 15 billion.
Lots of $ for big banks to distribute to ??? Let us read the headlines as days go by...
Page 1B: GDP, Consumer Spending fall: Worst is yet to come. Time will tell...
Investor's Business Daily: Oct. 31, 2008 page B5:
China Mobile's Profit Sturdier than its stock.
China Mobile won 370 million subscribers,making No. 1 in the nation by far.
The whole market at 520 million users. Will soon hit 600 million.
Think about such impacts to the folks in China. They are netizens as citizens of China. Global impact can be readily seen with such means of easy communication.
Francis Shieh a.k.a. Xie Shihao watching the economic deveopment of China with reference to USA re Sino-American economic relations in the 21st century.
Nov. 1,2008 at 11.22 a.m.
When US doles out bailout candy: Cash infusions: -
Citigroup $25 billion.
J.P. Morgan Chase Ditto.
Wells Fargo Ditto.
Bank of America 15 billion.
Lots of $ for big banks to distribute to ??? Let us read the headlines as days go by...
Page 1B: GDP, Consumer Spending fall: Worst is yet to come. Time will tell...
Investor's Business Daily: Oct. 31, 2008 page B5:
China Mobile's Profit Sturdier than its stock.
China Mobile won 370 million subscribers,making No. 1 in the nation by far.
The whole market at 520 million users. Will soon hit 600 million.
Think about such impacts to the folks in China. They are netizens as citizens of China. Global impact can be readily seen with such means of easy communication.
Francis Shieh a.k.a. Xie Shihao watching the economic deveopment of China with reference to USA re Sino-American economic relations in the 21st century.
Nov. 1,2008 at 11.22 a.m.
Washington Post, Nov.1,2008 page A9
"Few Seeing Usual Benefits of Rising Dollar" as the Headline:
"China's currency is pegged to the US dollar, so Chinese firms are protected against rapid currency swings in their dealings with the huge US market. Through the dollar's appreciation can undemine their goods' competitiveness in non-dollar markets, it helps them import supplies from such places for manufacturing. In sum, most exporters, settling their contracts in the US currency, have welcomed the dollar's rise. But some are not counting on the dollar's bounce to last long and are trying to get their clients to shift their payments over to other currencies." My comment: The rise and fall of the exchange rate is subject to economic conditions of demand and supply. Any harsh expression such as dollar manipulation is unfounded and unwarranted apropos of the REAL Sino-American Economics.
Phoenix TV cited the editorial article on China's Modernization, published in the US "SCIENCE" magazine by Premier Wen Jiabao. It is an evidence of recognition of China's achievement in science by American scientific community. It is clear that China is making contributions to humankind in the name of science for the benefit of all folks on earth.
Zhuhai's Air Show is another evidence of the level of China's air expertise as mentioned in Phoenix TV of Hong Kong on Nov. 1, 2008
Francis Shieh a.k.a. Xie Shihao, an octogenarian independent learner wishing to share knowledge with readers about the developments in China. Any negative China bashing remarks would be rendering disservice to all due to globalization of economics in every field of endeavor. One World,One Dream to strive for betterment. Nobody would impugn,indeed.
November 1, 2008 at 10.48 a.m.
"China's currency is pegged to the US dollar, so Chinese firms are protected against rapid currency swings in their dealings with the huge US market. Through the dollar's appreciation can undemine their goods' competitiveness in non-dollar markets, it helps them import supplies from such places for manufacturing. In sum, most exporters, settling their contracts in the US currency, have welcomed the dollar's rise. But some are not counting on the dollar's bounce to last long and are trying to get their clients to shift their payments over to other currencies." My comment: The rise and fall of the exchange rate is subject to economic conditions of demand and supply. Any harsh expression such as dollar manipulation is unfounded and unwarranted apropos of the REAL Sino-American Economics.
Phoenix TV cited the editorial article on China's Modernization, published in the US "SCIENCE" magazine by Premier Wen Jiabao. It is an evidence of recognition of China's achievement in science by American scientific community. It is clear that China is making contributions to humankind in the name of science for the benefit of all folks on earth.
Zhuhai's Air Show is another evidence of the level of China's air expertise as mentioned in Phoenix TV of Hong Kong on Nov. 1, 2008
Francis Shieh a.k.a. Xie Shihao, an octogenarian independent learner wishing to share knowledge with readers about the developments in China. Any negative China bashing remarks would be rendering disservice to all due to globalization of economics in every field of endeavor. One World,One Dream to strive for betterment. Nobody would impugn,indeed.
November 1, 2008 at 10.48 a.m.
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