Washington Post, March 5, 2010 page B6: "Charles Sylvester, the 4th generation of an American family immersed in Chinese history and a key diplomat in Beijing after the death of Chairman Mao. Mr. Sylvester left the mundane world on Feb.7th at his home in Hereford, Arizona with lung cancer" I came to this world on Feb.7,1926.
A former Navy pilot, Mr. Sylvester joined the Foreign Service in 1961 and emerged as a leading Asia specialist. He worked in Vietnam and Taiwan before moving to Washington for China Desk duties including draftng a 1971 letter to Chiang Kai-shek explaining the reason behind President Richard Nidon's historic visit to China. The mission to China began the process of opening its relations with the United States."
Back in early 1960s, I was teaching Economics in Los Angles,California and met Richard H. Moorsteen at the RAND Corporation,Santa Monica,California.I rendered my professional services to RAND from 1959-1961 on part-time basis and became a full-time researcher from January 1964-September 1965. During that period, I published "A Glimpse of the Chinese Language" RAND Paper#3078 in March 1965 with the intent to promote the opening of China via the Pin Yin system as hinted on page 8. Richard Moorsteen published "Remaking China Policy" Harvard University Press,1971 with the same intent to help USA to establish normal relations with China for mutual benefit of two nations.
Mr.Jay Mathews continued in his article:"Charles Sylvester moved to Shanghai in 1987 and served two years as the American Consul General." I was a Visiting Consultant for the United Nations Development Program(UNDP) and lectured in Shanghai and Beijing during 1986-l987.
Mr. Sylvester was pleased to see China's economic reforms during the last two decades apropos of the emerging market economy to join the international community such as WTO for trade and other activities in globalization.
On the same page,Jacques Polar helped design IMF's basic economic framework. Dr. Polar passed away at the age of 95. He was born in Rotterdam in 1914 and was a student at the University of Amsterdam. He moved to Geneva to work as an assistant for the first Nobel laureate Jan Tinbergen who developed "Convergence Theory" with the insights of the convergence of economic systems in the global context for the benefit of humanity as an outstanding economist with vision.
USAToday, March 4, 2010 on page 1B: China auto sales speed ahead.: Geely CK sedan, a popular Chinese brand for 39,800 yuan(RMB) i.e. about US$5,800, a low-cost automobile.
It is estimated by economists that Americans save about 5% but Chinese save 28% of disposable income. Here is the difference of lifestyle re Sino-American Economics as well.
Wall Street Journal, March 4, 2010 on page A14: "Venezuela's Chavez shuns IMF and gushes about China: Venezuela has already spent most of the $8 billin from China loan in exchange for oil.
China has access of US dollars with massive holdup of US Treasury bonds."
Page A18: "Economic theories can be powerful tools for organizaing one's thinking. Good economists can say a lot about tendencies among economic variables but naive pursuit of precision by econometric modeling, as applied to policy is fraught with danger and can only deepen well-deserved public sketicism about economists and economics." Here we can validate the insights of Professor John K. Galbraith as I sent my past blogs to that effect. I would state catagorically that human behavior plays a significant role in economics. Needless to say,there are much room to be explored from empirical evidence.
Washington Post,March 5,2010 on page A12: Arby's offer $1 for 7 items everyday(with photo ad.) to compete with Berger King for One-Dollar Value Meal in USA. Such is good news for folks to save money re budget eats during economic crisis.
I was a customer at Berger King in Shanghai many times. Perhaps the management would offer similar discounts for folks in Shanghai for more business by volumes. I shall find out when I visit Shanghai in April 2010.
Francis Shieh a.k.a. Xie Shihao,a lifelong student of applied comparative economics. I expect to utilize my training in economics to be budget-wise for my pursuit of optimality to hit serendipity.
Friday, March 5, 2010 at 10.28 a.m.