It is (semi) official: We are in a recession. FED Chairman is the bad-news bearer belatedly as published by The Washington Post on page A3,April 3, 2008:
Greenspan: "The most wrenching since the end of the Second World War."
Feldstein: "Substantially more severe downturn than usual" "The situation is bad, it is getting worse."
Six weeks ago, Chairman Bernanke said "sluggish growth." Cf. My blogs in the past.
My comment: Since there have been twin deficits i.e. trade and federal deficits,the logical effect would not be favorable. We are witnessing the consequences now. Stagflation has been noted and we hope for the best in 2009 as FED Chair stated. In the meantime,grin and bear with the situations re faith and hope with charity toward the less fortunate folks in USA. China's economy has problems as well but I do envision the joint efforts of two nations with strategic economic conference in June in Washington for possible favorable outcome hopefully in terms of globalization of resources for proper utilization to obtain economic utility of peoples."Yi ren wei ben" is the guidelines for USA and China. The readers can detect the semantics in denotation and connotation in your own musing with serious thoughts.
Francis Shieh on Friday,April 4th. It used to be a day for children in China when I was a kid after 1926. My memory still works as an octogenarian with positive scenario as a guy living in the high-tech age with plenty of gadgets!!! I admit I don't know enough about economics et al. but there are those who don't know they don't know as Professor John K. Galbraith so aptly stated decades ago. Hehehahahoho all the way and we shall live to be centenarians.
Friday, April 4, 2008
Thursday, April 3, 2008
US-China share balanced economic growth
Washington Post,April 3, 2008 page D5: Treasury Secretary Paulson said "Our two countries share the challenge of achieving balanced economic growth along with energy security and environmental subtainability." "It will take resourcefulness, creativity, determination and a long-term commitment to achieve the results we seek." He cited the natural equilibriium of markets to match supply and demand." My comment: There are expansionary and contractionary gaps to the aggregate demand and aggregate supply as per the economic model. However,we must try to bridge the gaps by adjusting the fiscal and monetary policies in China and in the United States as well. Such adjustments would be difficult as we are witnessing the current happenings in USA and in China in the real world. Economics is full of complexity and complicity too! Human factor is very much involved for vested interests,indeed.
Francis Shieh, a lifelong student focusing the American economy and China's economy. April 3, 2008 at 9.33 p.m.
Francis Shieh, a lifelong student focusing the American economy and China's economy. April 3, 2008 at 9.33 p.m.
The builder of America's Venice sets his sights on China
The Mogul Who Bet on Vegas: Washington Post,April 3,08 page A17
Warren Buffett and Bill Gates are richest Americans. The 3rd one is Sheldon Adelson, 74, whose net worth is $26 billion. In Macao, Adelson has two resorts, including a Venetian with a casino three times larger than the largest in Las Vegas.
Thanks to Adelson, Macao has its Venetian - a replica of a replica of a city. China has passed into post-modernism's erasure of distinctions between high and low culture, and between originals and copies, without yet achieving modernity. Buffett and Gates may still be richer, for now, but Adelson's achievements astonish and multiply. Howcome? Ponder and reflect the SAR of Macao,China when visitors expect to try their luck in Macao. George Will has published the above. E-mail: georgewill@washpost.com
Francis Shieh a.k.a. Xie Shihao, a student of the Law of Probability Revisited re Sino-American Economics. April 3, 2008 at 2.30 p.m.
Warren Buffett and Bill Gates are richest Americans. The 3rd one is Sheldon Adelson, 74, whose net worth is $26 billion. In Macao, Adelson has two resorts, including a Venetian with a casino three times larger than the largest in Las Vegas.
Thanks to Adelson, Macao has its Venetian - a replica of a replica of a city. China has passed into post-modernism's erasure of distinctions between high and low culture, and between originals and copies, without yet achieving modernity. Buffett and Gates may still be richer, for now, but Adelson's achievements astonish and multiply. Howcome? Ponder and reflect the SAR of Macao,China when visitors expect to try their luck in Macao. George Will has published the above. E-mail: georgewill@washpost.com
Francis Shieh a.k.a. Xie Shihao, a student of the Law of Probability Revisited re Sino-American Economics. April 3, 2008 at 2.30 p.m.
Smithsonian China series showcases Beijing Olympics
The Smithsonian series will run to late June. This is a collaborative effort among international partners and distinguished personalities from China and the United States. The program delves into the history and the major cities of Beijing, Hong Kong and Shanghai. Such events bring back my happy memories of my teaching and lectures in Beijing, Hong Kong and Shanghai since 1981. I visited Shanghai area two times from the Fall 2007 for three weeks and four weeks from January to February 2008.
US and China relations: Looking ahead on April 3, 2008. Timely topics from trade and finance to regional and global security.
On April 17, 2008 Wildlife of China: Endangered Treasures
Inside the Rings: The 2008 Beijing Olympic Games on May 8, 2008
Francis Shieh a.k.a. Xie Shihao,a graduate student from China in 1947,serving as a bridge for economic relations of USA and China. April 3, 2008
US and China relations: Looking ahead on April 3, 2008. Timely topics from trade and finance to regional and global security.
On April 17, 2008 Wildlife of China: Endangered Treasures
Inside the Rings: The 2008 Beijing Olympic Games on May 8, 2008
Francis Shieh a.k.a. Xie Shihao,a graduate student from China in 1947,serving as a bridge for economic relations of USA and China. April 3, 2008
Wednesday, April 2, 2008
World Bank report about Asia.WashPost,April 2,08 page D7
East Asian nations must act promptly to ease the burden of mounting food and fuel prices on the region's poor. The Bank said growth in developing East Asian economies could slip by 1 to 2 percentage points this year to 8.5% as the US credit crisis unfolds, damping demand for exports. FED Chairman testified in Congress today re the negative scenario for the first half of this year.
The report also trimmed its 2008 growth forecast for China to 9.4 % but said it should be robust enough to help drive the global economy as the United States and other industrialized countries slow. Such assessment reinforces the significance of Sino-Americn Economics in the 21st century.
US Secretary of Treasury is visiting China and conferred with President Hu concerning trade and economic relations for strategy concerns. I mentioned the same expections as my vision apropos of the benefit of mutual benefits to enforce the Law of Comparative Advantage of trade relations. www.ask.com: Work and Study Cycle Theory. American consumers want to save money especially during the present hard times to buy less expensive Chinese products for budget reasons. Cf. ECONOMIST magazine for feature articles.
Francis Shieh a.k.a. Xie Shihao, a witness of increasing strategic economic activities of USA and China. April 2, 2008 at 9.45 p.m.
The report also trimmed its 2008 growth forecast for China to 9.4 % but said it should be robust enough to help drive the global economy as the United States and other industrialized countries slow. Such assessment reinforces the significance of Sino-Americn Economics in the 21st century.
US Secretary of Treasury is visiting China and conferred with President Hu concerning trade and economic relations for strategy concerns. I mentioned the same expections as my vision apropos of the benefit of mutual benefits to enforce the Law of Comparative Advantage of trade relations. www.ask.com: Work and Study Cycle Theory. American consumers want to save money especially during the present hard times to buy less expensive Chinese products for budget reasons. Cf. ECONOMIST magazine for feature articles.
Francis Shieh a.k.a. Xie Shihao, a witness of increasing strategic economic activities of USA and China. April 2, 2008 at 9.45 p.m.
Tuesday, April 1, 2008
The Origin of Wealth by Eric D. Beinhocker
Harvard Business School Press,Boston,MA published the book with a subtitle: The Radical Remaking of Economics and What It Means for Business and Society. $16
Such work is a brilliant thought, -provoking, and wide-ranging magnum opus,indeed.
The author surveys the cutting-edge ideas of economists and scientists and brings their work alive. It is economic evolkution an algorithm of all-purpose formula for innovation of a form of information processing. Evolution creas wealth and has takenus from the Stone Age to the $36.5+ trillion global economy of today.
How complexity or even duplicity economics from the movers with strategy and design to investment and public policy. The book sets the agenda for economic thinking in the 21st century and beyond. Adam Smith noted the rich variety of ways that folks have measured their wealth throughout history in nations in realms ranging from computer software to the mind to human culture and the global economy.
Is wealth an intrinsic, tangible thing that gives value? Wealth is not a fixed concept and may be more ephemeral (sic) The value of things depends upon what one is willing to pay for it at a particular time.
In the contemporary world, wealth exists in electronic blips on a computer with the swipe of a credit card or the click of a mouse.
How the knowledge of our brains lead to the creation of wealth? How can the global economy grow in a way that is environmentally subtainable? Moreover, wealth may not buy happiness as I submitted my Formula for Happiness in my previous blogs. Economic phenomena are so unpredictable that efforts have failed between a metaphorical versus a literal understanding of the global economy. Sino-American economics falls into the fitness function for competitive endeavors in the days to come.
Such work is a brilliant thought, -provoking, and wide-ranging magnum opus,indeed.
The author surveys the cutting-edge ideas of economists and scientists and brings their work alive. It is economic evolkution an algorithm of all-purpose formula for innovation of a form of information processing. Evolution creas wealth and has takenus from the Stone Age to the $36.5+ trillion global economy of today.
How complexity or even duplicity economics from the movers with strategy and design to investment and public policy. The book sets the agenda for economic thinking in the 21st century and beyond. Adam Smith noted the rich variety of ways that folks have measured their wealth throughout history in nations in realms ranging from computer software to the mind to human culture and the global economy.
Is wealth an intrinsic, tangible thing that gives value? Wealth is not a fixed concept and may be more ephemeral (sic) The value of things depends upon what one is willing to pay for it at a particular time.
In the contemporary world, wealth exists in electronic blips on a computer with the swipe of a credit card or the click of a mouse.
How the knowledge of our brains lead to the creation of wealth? How can the global economy grow in a way that is environmentally subtainable? Moreover, wealth may not buy happiness as I submitted my Formula for Happiness in my previous blogs. Economic phenomena are so unpredictable that efforts have failed between a metaphorical versus a literal understanding of the global economy. Sino-American economics falls into the fitness function for competitive endeavors in the days to come.
Visit cspanradio.org to keep up with events
Australian Prime Minister Kevin Rudd gave a lecture about international relations involving Australia,USA and China. He is very optimistic about the role of the United Nations and the important status of China in East Asia. US Treasury Secretary Paulson is going to China. Both leaders are very positive about the economic clout of China in the days to come and the only way to have peace in the world is to cooperate and collaborate with China in the name of globalization in the 21st century. Needless to say,economics breeds repercussions to other fields such as political,military,scientific and educational exchanges especially trade relations for mutual benefit to enforce the Law of Comparative Advantage.
April is National Poetry Month,established by the Academy of American poets as a month-long national celebration of poety. The goal of the Academy is to increase the attention paid to the art of poetry. It is high time to recognize the fact that the art of poetry is related to the field of economics since economics covers every aspects of human behavior. As such,economics is behavioral science dealing with human behavior of all folks in all nations on earth for the goal of economic development and human happiness in the name of economics. i.e."jingji" in Pin Yin.
Cf. "A Glimpse of the Chinese Language" for details. www.rand.org or www.Amazon.com online book catalog for reference.
Francis Shieh a.k.a. Xie Shihao,meaning "thanks from a hero of poetry" in Chinese characters for my name in Pin Yin system of romanization. However,I am not a poet but I do strive for intellectual utility with real joy in learning economics. No Fooling on April 1st,the day for fools if folks do not pay attention to Economics,the very subject for all concerned. April 1, 2008 at 7.22 a.m.
April is National Poetry Month,established by the Academy of American poets as a month-long national celebration of poety. The goal of the Academy is to increase the attention paid to the art of poetry. It is high time to recognize the fact that the art of poetry is related to the field of economics since economics covers every aspects of human behavior. As such,economics is behavioral science dealing with human behavior of all folks in all nations on earth for the goal of economic development and human happiness in the name of economics. i.e."jingji" in Pin Yin.
Cf. "A Glimpse of the Chinese Language" for details. www.rand.org or www.Amazon.com online book catalog for reference.
Francis Shieh a.k.a. Xie Shihao,meaning "thanks from a hero of poetry" in Chinese characters for my name in Pin Yin system of romanization. However,I am not a poet but I do strive for intellectual utility with real joy in learning economics. No Fooling on April 1st,the day for fools if folks do not pay attention to Economics,the very subject for all concerned. April 1, 2008 at 7.22 a.m.
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