GM selling cars in rapidly growing Chinese market

Washington Post, Tuesday, January 5, 2010: Automaker posts 67% increase in sales in 2009 due to joint ventures exploited rising affluence there to sell more than 1.8 million cars and trucks.

Leading the firm's sales in China were Buicks, as well as inexpensive small vans and pickups.The number of cars sold in China rivals the number sold in the United States, and the Chinese market is expected to condinue to grow rapidly.

"There is no question that China will become the world's largest auto market as long as the economy keeps growing," said Kelly Gallagher, a professor at Tufts University and the author of a book about the Chinese auto industry.

The potential for soaring sales has set off a race into China. The leaders in market share include Volkswagen, Changan, Shanghai automotive Industry Corp. and Hyundai.

GM's strength in the Chinese market last year partially offsets the collapse of its sales in the United States. A chart is publlished to that effect.

The joint venture sells pickups and small vans, known in China as "bread loaf cars" "Mian bao che" due to their shape as the loaf of bread in 3 Chinese characters of such ideograms for the phonetic equivalents in Pin Yin system.
For explanation: "A Glimpse of the Chinese Language" in English is dedicated for understanding,available free of charge via pdf format at www.rand.org for reference.

Many cars sell for roughly between $4,000 and $7,000.

Chinese consumers in the market system responded enthusiastically to our lineup of modern, fuel-efficient and stylish products. Kevin Wale,President and director of the GM China Group said.

I remember the expression:"What is good for General Motors is good for America." In other words,the private sector(GM) generates the success of the public sector(USA). Perhaps such may be modified as: Uncle Sam would bailout GM for the best interest of the nation. There is political economy in action nowadays.

Francis Shieh aka Xie Shihao,an octogenarian blogger with devotion to blog Sino-American Economics to the readers of interest to stay informed about the positive scenario for mutual benefit in the 21st century.

Tuesday, January 5, 2010 at 9.46 a.m.

Washington Post, January 4, 2010 page A2

USA-the world's largest economy and China,the world's third largest economy whose total trading volume was $409 billion last year. Comment: Very impressive for mutual benefit.

Carol Guthrie, a spokeswoman for the Office of the US Trade Representative, said the US "trade relationship with China remains strong, buttressed by consistent and frank dialogue, effective institutions, and global trade rules."

"Trade disputes are a normal part of a healthy, mature trading relationship," Guthrie added. "The United States has trade disputes with a number of major trading partners-the European Union, for instance, and still has healthy relationships because we have all agreed to work under certain rules. This is the case here, as well." Comment: Challenges are entirely manageable with confidence and the understanding of the Law of Comparative Advantage in economics.

Page B1,B2: "Deep thinking is part of lunchtime menu for the Philosophy club as members of middle-schoolers." Comment: It is a wonderful idea to start such in-depth discussions in philosophy to motivate young folks to pursue for the Ph.D., i.e. Doctor of Philosophy for their long-term knowledge and wisdom.

Francis Shieh aka Xie Shihao, an octogenarian lifelong examiner of hard-wired cognitive and neurological processes affecting the simple daily interactions relevant to Sino-American Economics.

Monday,January 4,2010 at 9.36 a.m.

A statement by George Bush, Henry Kissinger,Jimmy Carter and Gerald Ford

The above leaders published a statement sometime ago but still relevant to the 21st century. To cite several passages as follows: TO WIT-

"The importance of the strategic relationship is underscored by current international developments. (Comment:Such as terrorism, nuclear proliferation,climate warming et al.)

The President and the Congress share responsibility to share a policy towards China that reflects basic American interest. America's relationship with China is complicated by legitimate differences in policies and perceptions that need to be cleared up. The price for a failure to forge a consistent policy towards China will be paid in a weakened American ability to shape international events in ways that serve our interests and support our values.

The United States should neither fear nor opppose the development of China."( End of Quote from the publication in the media.

Comment: Both US and China are members of the Security Council of the United Nations for international peace and economic development in the 21st century.)

Francis Shieh aka Xie Shihao,a daily observer for positive course of action apropos of Sino-American economics for mutual benefit.

Monday, January 4, 2010 at 5.45 a.m.

Recommending: The Journal 1837-1861 by Henry David Thoreau "Shoptimism"

"He is the richest, " Henry Thoreau wrote, "who has most use for nature as raw material of tropes(metaphor,metonymy, synecdoche and irony) and symbols with which to describe his life. Clearly, Thereau was the wealthiest man in Concord. We find that the journal was a work of art in itself." Note: Chinese calligraphy is a form of art. "We see his pioneer interest in Native Americans,(Note:American Indians were Asians) and his disgust with men who spoke vulgarly of women, his religious devotion to his task." Thoreau earned a modest living as a surveyor. What could the businessmen of Concord have offered him? He already had the whole world. -Michael Sims via bookworld@washpost.com Comment: Men of letters can have the mind of global context.

Here we can find Sino-American economics of raw materials and wealth with magnitude of literature centuries ago.

"Shoptimism"by Lee Eisenberg Free Press 334 pp. $26

Sub-title: Why the American Consumer will keep on buying no matter what- attributable to the lifestyle via advertising plus credit system in USA?

Here we detect the difference of custom and tradition of more than half of the population of farmers in China as a case of point.

Washington Best Sellers Paperback:

No. 3 "Freakonomics" (Harper Perennial, $15.99 Exploring behavioral economics -revised and expanded. To be continued in the next blog.

Francis Shieh aka Xie Shihao on Sunday,January 3, 2010 at 4.16 p.m.

Why are economists so eager to measure contentment?

Washington Post,Sunday, January 3, 2010:
Outlook Section,page B1,B5: "HAPPY TALK" by Carol Graham, a professor of public policy at the University of Maryland and author of "Happiness Around the World",a forthcoming book. My comments are included in my blog below.

"Economic crisis.Job losses. Wars. Yet, while we can quantify things such as GDP,it is harder to measure their impact on our collective happiness: The economies of happiness - a set of new techniques and data to measure well-being and contentment.

How much happiness does money really buy? Does Happiness Pay? Recently, the Sarkozy Commission-led by Nobel Prize-winning economists issued a world-wide call for the development of broader measures of national well-being. The Kingdom of Bhutan uses "gross national happiness" as its preferred measure of progress. The British study stresses how to track well-being, using happiness as a base. In USA,Center for Disease Control measures of well-being into national health statistics.

It has been an amazing foray(or raid) into the complexity of the human psyche and the simplicity of what makes us happy" Here I would reiterate my New Year's Resolution of 4S-2D=RCA. Acronyms are stated:

1. Simplicity
2. Sincerity
3. Serenity
4. Serendipity
minus 1. Discouragement
2. Depression
= R-Rejoicing
C-Compassion
A-Amity
gaining happiness in the heart and mind.

Such philosophical underpinning cannot be quantified by numbers in the data but by the inner thought of perception and reception of the mind.

President Obama said that all Americans deserve a chance to pursue their full measure of happiness with their own version or own measure of whatever makes them happy.

We all want happiness and more of it. But this is a nascent science(emerginig inexact science as economics) Should happiness by a goal in life? I believe so with the in-depth understanding of epistemology. In sum, I would state categorically that
the ultimate success in economics is the contribution to be made for human happiness. My modest contribution would be my works listed at the Library of Congress: www.loc.gov under Shieh, Francis for your kind reference.

Let me reiterate the Equation of Happiness from my past blogs:

Happiness is not material consumption over desire only but to add intellectual pursuit,spiritual satisfaction plus good health as the Numerator over the desire as the Denominator.

Francis Shieh aka Xie Shihao,an octogenarian student of economics and philosophy with my avid studies of Confucianism from the original Chinese sources to be compared with Aristotle and Plato in English.I have reason to believe that human nature is still the same as homosapiens regardless of the cultures from the West and the East. The world is one in the name of globalization in the 21st century.

Sunday, January 3, 2010 at 10.08 a.m.

Washington Post, January 2, 2010 Headline A1,A10

Chinese banks find their credit in high demand: Void left by US,Europe: China diversifies beyond US Treasurys:(Much of China's 2.3 trillion in foreign reserves remain invested in US Treasurys)

Photo of Zhou with Chinese characters as background:the governor of the People's Bank of China, which has reported that new lending by Chinese banks injected $1.3 trillion into the world economy over the first 9 months of 2009.

Here we can easily understand Sino-American economics.

Francis Shieh aka Xie Shihao, an observer of events as being unfolded in the media about global economy. Saturday, January 2, 2010 at 8.46 a.m.

Washington Post, January 1, 2010

Page A16:

As 2010 begins, can we keep faith in our great American ideals?

"The pattern set by post World War II America was a new and different one. It included worldwide engagement, aid to devastatted nations, free trade, open societies and tolerance, democracy tempered by constitutional protections for all, and freedom to travel." Chinese folks travel to many nations nowadays including the USA to spend money to make contributions to Sino-American Economics.That is the real happenings that I witness as an independent bystander.

Page A12:

Disney completes Marvel acquisition of 4.24 billion for entertainment, bringing Spider-Man, Iron Man and 5,000 other characters under the same roof as Mickey Mouse and Donald Duck. Such can be enjoyed by folks in Shanghai denizens soon for another Sino-American economics in action.

Page D3:

Georgetown Opens Big East Campaign by beating St. John's: I have my fondest recollections of earning my degree at St.John's University in Shanghai(1946) and received my graduate degree from Georgetown University Graduate School in 1950 with a scholarship. Such basketball game in the Sports section brings back my memories from the 20th century with spiritual joy as the bell rings apropos of epistemology.

Page C6: The Light Side of Life:-

I enjoy reading Comics from Pickles: The lady said: "I can do hard things if I put my mind to it." Her husband replied:"I can hardly do things" Both are aging couples with humor in their conversation. We are what we feel. When we feel young,we are young in our hearts and minds. It is the mindset to beget youth with child-like active spirits.

Francis Shieh aka Xie Shihao, an octogenarian watcher of Sino-American economics everyday to share with readers online for cheers.

January 1, 2010 at 9.08 a.m.