China has Olympic fervor: Global recognition of progress

Washington Post,Feb.29, 2008 page A1mA15:Beijing Olympics coincide with the 30th anniversary of Deng Xiaoping's decision to open the economy to private enterprise and engage with the world,giving the party a second framework for celebrating its achievements. China expects to attract an estimated 500,000 tourists and 4 billion TV viewers aroiund the world. Such gathering will foster friendship between Chinese and people from around the world. China is showing the world of its development. I visited China twice in September 2007 and in January 2008 again for 7 weeks and I am impressed by the achievement when I compared with China when I left Shanghai in 1947. Francis Shieh a.k.a. Xie Shihao on Friday,Feb. 29, 2008

Washington Post,Feb. 29, 2008: Bernanke,FED Chairman doesn't see stagflation. (Political necessity of official optimism)However,both fiscal and monetary face some additional constraints.(Rhetoric) Headline: Picture,however,isn't pretty on pages D1 and D4. That means that GDP rose only 0.6% in the 4th quarter,disappointing analysts. Bernanke described the features of the downturn: "I guess as a Russian novelist once said, unhappy families are all unhappy in their own way, and every period of financial and economic stress has unique characteristics. Such testimony is not a cheerful thing. More American families are unhappy due to the high costs of energy,health care and other issues. In contrast,China's GDP is moving fast with successes. There are issues in Sino-American economic relations. Such balancing acts will be performed by the role of US Treasury Secretary Henry Paulson,Jr. with Vice Premier Wu Yi in charge of China's economy in the days to come. Francis Shieh with my views of Sino-American economics. 2/29/08

Bad Samaritan: The Myth of free trade and the secret history of Capitalism

Economist Ha Joon Chang of Cambridge University published the crisp, contrarian history of global capitalism. $26.95 Bloomsburg Press, New York 2008 Just published in Feb.2008. In 2005 Chang was awarded Leontief Advanced Prize for Frontier of Economic Thought. He is a former researcher at the World Bank and an acolyte of Nobel Laureate Joseph Stiglitz,a free trade critic. John K. Galbraith of Harvard won the same prize as Chang did with advanced economic thought. A book review on Galbraith' "Almost Everyone's Guide in Economics" was published by the Atlantic Economic Journal in September 1979 for reference. "Work and Study Cycle Theory" may be regarded as reinforcement of the traditional Confucianism as Chang cited on page 189 with elaborations. There is a link between Confucianism and the economy in China. To wit: The proper mix of the public and the private sector as evidenced in the Chinese economic system with success during the recent years known to all.
As of February 29, 2008,a barrel of crude oil costs $103 with impacts on consumers in USA and in the world. Gold and other metals look shinier indeed due to credit crisis, inflation and financial negatives. What would be the traditional inflation hedge? I would recommend the investment in human capital. "Yi ren wei ben" as the same rationale as cited in "Keys for Economic Understanding" (1971)
American middle class incomes are stagnating as empirical evidence for a new president to change the course for the US economy after November election to be inaugurated in January 20, 2009. Xie Shihao a.k.a. Francis Shieh,Feb.29, 2008

It is a matter of rhetoric re recession or slowdown!

Unconventional economic downturn? President said "there is no recession!" If the word Recession is uttered by the leading political figure,folks would be nervous at the stock market who react and overreact when their noses are twitched. Political necessity of official optimism! We better read between the lines and read the headlines to understand the moods of the people in USA with high costs of energy prices with increasing health care costs plus metro fare increases... to be reflected in other costs in the days to come. "Bernanke signals rate cuts on concern about economy": the headline on page D1 in the Business Section of the Washington Post,Feb. 28, 2008. Inflation is here and we are certainly aware of such issue in Macroeconomics. Such is the common ground between USA and China in this regard. Francis Shieh a.k.a. Xie Shihao on Thursday,Feb.28, 2008.

Czech Prime Minister stresses No. 8 in USA. Why?

C Span Radio on Feb.28, 2008: An eloquent speech by the Prime Minister of Czech Republic stressing Czech history of the number 8. FYI, US Treasury Department issued bills with 8 to imply good fortune during the Chinese Lunar New Year as good omen for positive US-China relations in the 21st century.

8 means Facai in the good way but 8 may imply Fachu for missile launching.

Peace or conflict? Let us hope for the wellbeing of humanity in the days to come.

Random thoughts from a lifelong student of economics re the global dimension to include Sino-American Economics as built-in factors.

Food for thoughts for all. Thanks for your inputs if warranted. Francis Shieh a.k.a. Xie Shihao. Feb. 28, 2008.

Washington Post, Feb.27,2008 page D1

Slow economy, high prices raise specter of stagflation: I share such headline in my past blogs. Cf.www.Google.com for more references. Businesses tend to pass on the increased costs of their purchases to consumers. Such common scenes can be seen in USA but in China,economy is booming even though inflation is also a problem.
For the past 30 years, American economy has been on a roller coaster ride. In the 1980s,US economy was unproductive, unimaginative and self-indulgent, doomed to fall behind Japan and Germany. Now,China's economy is most progressing with the culture of China. Business Week,March 3, 2008 issue has details as I have already sent my blogs. www.Google.com for my line of reasoning as a lifelong student of economics.
Page H1 The Russian Development Strategy to 2020 can only achieve a breakthrough with renewed emphasis on human capital. Human capital must emerge as the main factor of development and growth. Such rationale may be reinforced in "Keys for Economic Understanding" (1971.) Times have changed but human capital is still the capital of human being via training and education without time frame. No constraint whatsoever in my judgment. Francis Shieh a.k.a. Xie Shihao. Feb.27, 2008

Business Week, March 3, 2008 on China

China is the 21st century's land of opportunity. Cf. www.accenture.com/research-articles

China has been the most attractive emerging market of all. How to win the wallets of China's consumers? Such pursuit may be harder than you think. China's modern consumers have many unique traits.

As a native of Shanghai,China, I am delighted to read such observations.

"A Glimpse of the Chinese Language" in English is hereby dedicated to all those who would explore the China market with the means of communication via the Chinese language. Olympic Games will take place in Beijing 2008 and Shanghai Expo in 2010. It is listed at www.Amazon.com online book catalog for reference. I provide such info for the best interest of readers for educational purpose without any commercial intent since such work is the property of US government. www.rand.org for information.

Francis Shieh, a lifelong student of economics a.k.a. Xie Shihao on February 27, 2008

Pin Yin is used for Americans to understand the Chinese language initially

To my students and readers, ALOHA! Language and economics are intertwined and interwoven. The following may be useful for learners to understand that topnotch students are superior than the teachers with noble sentiments plus offender to offer contrition using metaphor with inkling as human errors in situations by citing Buddhist teaching: -

Qing chu yu lan
Qing bu zi jin
Ku hai wu bian
Hui tou shi an

If you know the above Pin Yin in the Chinese characters apropos of ideogram,your Chinese maybe rated as level 2 in my judgment. Congratulations! Xie Laoshi a.k.a.Xie Shihao or Francis Shieh on Tuesday,Feb. 26, 2008 at 8.58 p.m.