Washington Post,January 23, 2009 on page A8: It has cautioned that China should NOT be made a scapegoat in a time of crisis. Eswar Prasad, a senior fellow at the Brookings Institution said: "Things are going to get quite heated on the China-US front. This statement was clearly a shot across the bow... Some Republicans say Geithner's tax errors reveal larger character flaws. To have exchange rate conflict with China would not be in the best interest of the United States. The following points or pointers are written for the reader's awareness apropos of the issue of issues for US-China economic relations:-
1.Recession in one nation tends to be transmitted to other nations as we have been witnessing in the global scenes. Globalization re international trade of goods and services should be understood as the Law of Comparative Advantage known to students of economics.
2.International coordination of economic policies is significantly important in the 21st century for the benefit of peoples in trading nations. However,such operations may be elusive in a world of sovereign nations. Both USA and China are sovereign nations and both nations are members of the Security Council of the United Nations.
3.Protectionist policies will not cure the US trade deficit because they will cause the dollar to appreciate and they may provoke foreign retaliation.
Food for thought as metaphor for readers to be aware of such flubbed confrontation as "moxuyou de duikang" in Pin Yin system of romanization of the fitting and proper Chinese expression. "A Glimpse of the Chinese Language" www.rand.org may be a reference for phonetic equivalent of such Chinese aphorism.
Francis Shieh a.k.a. Xie Shihao,former Economist with US Department of Labor(1965) and Fulbright Senior Scholar,1989-1990.
January 23, 2009 at Andrews AF Base library, January 23, 2009 at 10.10 a.m.
Friday, January 23, 2009
Thursday, January 22, 2009
USAToday, January 22, 2009 Hightlights with light anecdotes
Page 1A: First Lady Obama chose Jason Wu dress in white. Hong Kong dress designer's influence of art in the White House. Chinese art is highly appreciated in the West.
Page 2A: US biographer Robert Kuhn finds niche profiling Chinese leaders. Beijing Wangfujing Bookstore is loaded with books about Barack Obama and Hillary Clinton for avid readers to read American leaders.
A graduate student named Hu says:"From ancient times until now, the Chinese have been MODEST. We don't like to tell others about our ability or beauty. But in America,if you have ability, you publicize it." However,Professor Lam at the Chinese University of Hong Kong would demur by saying: "Not True." It is a matter of opinion.
When I came to the University of San Francisco in 1947,a schoolmate asked me about love in China. I said:" We don't express our feelings openly but know our feelings at heart." Such is the influence of Confucianism. "Silence is golden" versus "there is no impression without expression." Such may be applied to romance,indeed!
To my recollection,when I was teaching in Hong Kong,1989-1990,I encountered two types of students. Those who have been exposed to Western ways, addressed me as "Francis" but those who keep the Chinese tradition called me:" Professor Xie" with a bow under the influence of Confucianism. Cultural differences!
I also remember the Japanese way to show respect to bow down all the way to show respect as Richard Moorsteen mentioned to me when we were at the RAND Corporation in 1964-65. I visited Japan as a guest of Prof. Koh of Tokyo University in 1985. The service girls bow to customers in Japan and Korea. In a Japanese restaurant,a Japanese waitress would kneel down to serve tea to customers. Not in the USA for sure!
Page 4B: Stocks soar as investors reverse course.Increase in demand leads to higher prices. It is the reflection of investors to buy or to sell to cause ups and downs in the market prices for goods and services. Common sense but graphic presentations can be shown in economics.
Francis Shieh a.k.a. Xie shihao on Thursday,January 22, 2009 at 3.08 p.m.
Page 2A: US biographer Robert Kuhn finds niche profiling Chinese leaders. Beijing Wangfujing Bookstore is loaded with books about Barack Obama and Hillary Clinton for avid readers to read American leaders.
A graduate student named Hu says:"From ancient times until now, the Chinese have been MODEST. We don't like to tell others about our ability or beauty. But in America,if you have ability, you publicize it." However,Professor Lam at the Chinese University of Hong Kong would demur by saying: "Not True." It is a matter of opinion.
When I came to the University of San Francisco in 1947,a schoolmate asked me about love in China. I said:" We don't express our feelings openly but know our feelings at heart." Such is the influence of Confucianism. "Silence is golden" versus "there is no impression without expression." Such may be applied to romance,indeed!
To my recollection,when I was teaching in Hong Kong,1989-1990,I encountered two types of students. Those who have been exposed to Western ways, addressed me as "Francis" but those who keep the Chinese tradition called me:" Professor Xie" with a bow under the influence of Confucianism. Cultural differences!
I also remember the Japanese way to show respect to bow down all the way to show respect as Richard Moorsteen mentioned to me when we were at the RAND Corporation in 1964-65. I visited Japan as a guest of Prof. Koh of Tokyo University in 1985. The service girls bow to customers in Japan and Korea. In a Japanese restaurant,a Japanese waitress would kneel down to serve tea to customers. Not in the USA for sure!
Page 4B: Stocks soar as investors reverse course.Increase in demand leads to higher prices. It is the reflection of investors to buy or to sell to cause ups and downs in the market prices for goods and services. Common sense but graphic presentations can be shown in economics.
Francis Shieh a.k.a. Xie shihao on Thursday,January 22, 2009 at 3.08 p.m.
Washington Post,January 22, 2009 Page D7
Common Ground for USA and China: "Paradox of Thrift" + "Paradox of Mindset"
China's economic slump deepened in the final quarter of 2008 as the impact of the global financial crisis spread. Economic growth plunged to 6.8% down from 9%.
Exporters have been hit hardest but spread to domestic industries as demand for autos,real estate and other goods weakens.
China's stimulus plan calls for higher spending on construction and oher projects, but success would depend on firms and consumers to spend more, reducing reliance on exports.
Chinese government encourages individuals,households to save less and spend more for the nation apropos of "Paradox of Thrify" plus the confidence in the government to recover from financial crisis via spending to boost GDP in China and in USA as well.
However,adjustment of consumer spending pattern will not happen overnight and folks in China and in USA are thinking about the global financial crisis in their minds. Hong Kong folks are spending less for the Lunar New Year as reported by Phoenix TV.
Francis Shieh a.k.a. Xie Shihao on Thursday, January 22, 2009 at 12.05 p.m.
China's economic slump deepened in the final quarter of 2008 as the impact of the global financial crisis spread. Economic growth plunged to 6.8% down from 9%.
Exporters have been hit hardest but spread to domestic industries as demand for autos,real estate and other goods weakens.
China's stimulus plan calls for higher spending on construction and oher projects, but success would depend on firms and consumers to spend more, reducing reliance on exports.
Chinese government encourages individuals,households to save less and spend more for the nation apropos of "Paradox of Thrify" plus the confidence in the government to recover from financial crisis via spending to boost GDP in China and in USA as well.
However,adjustment of consumer spending pattern will not happen overnight and folks in China and in USA are thinking about the global financial crisis in their minds. Hong Kong folks are spending less for the Lunar New Year as reported by Phoenix TV.
Francis Shieh a.k.a. Xie Shihao on Thursday, January 22, 2009 at 12.05 p.m.
Wednesday, January 21, 2009
Wall Street Journal,January 21, 2009
Page A1: President Barack Obama: Headline-A day of history as new leader urges unity amid raging storms of war and recession: War on Terrorists and Recession due to global financial crisis. Both USA and China have encountered the threat of Terrorism. Shares of citigroup fell 20% to $2.80 a share and Bank of America Corp shares were down 29% to $5.10. However,banks in China seem to be doing OK especially the upcoming Lunar New Year of the Cow/Ox effective January 26, 2009.
Page A3: US Senate confirms Steven Chu as Energy Secretary. He is a Nobel prize-winning physicist. His role is to help Obama administration craft its new energy policy including US-China energy relations for mutual benefit as he testified in Congress several days ago. Chu should be Zhu in official Pin Yin system of romanization but the Last name sounds like "Drool" as I sent my prior blog to explain such phonetic equivalent for Westerner to utter the names of the Chinese people. My last name should be Xie in official Pin Yin but I am stuck with Shieh in 1947 as a variation of Hsieh as per the Wade-Giles system of romanization. "A Glimpse of the Chinese Language" explains such discrepancies. www.rand.org for the publication of such work.
Page A12: Col.Hu Changming of China said he hopes the US and China can improve military relations(RAND Corporation researchers made recommentation for military exchanges with China decades ago) but remove the weapon sales to Taiwan since China has improved economic relations with Taiwan under Ma,President of Taiwan and vice versa. It would be to US interest when there is peace across the Taiwan strait.
Page A14: Anxious investors pummeled share of Bank of America and Citigroup which some observers think might be nationalized. A bit of humor: Bank of America bears the name of a bank of America i.e. USA. It is mistakenly considered as a public bank of USA to new immigrants in particular even though it is a private bank as known to Americans. Such misnomer may be regarded as "paradox of mindset" as an economic model during the financial crisis.(sic)
Page A17: Develop Human Capital for USA with economic benefit and an active lifestyle plus sensible nutrition. Walking and riding with a bike would be good for health for folks in USA and in China as well. Eat lots of veggies and fruits would be desirable for health as human capital in USA and in China. There is the common ground and nobody would impugn,indeed!
Page B5: As China's economy slows,Carrefour,a French store, tries discounts;Gillett tugs heartstrings in bid to keep consumers spending in China.
That is all for Sino-American economics on January 21, 2009 at 2.52 p.m.
Francis Shieh a.k.a. Xie Shihao,an observer of Sino-American economics in the works.
Page A3: US Senate confirms Steven Chu as Energy Secretary. He is a Nobel prize-winning physicist. His role is to help Obama administration craft its new energy policy including US-China energy relations for mutual benefit as he testified in Congress several days ago. Chu should be Zhu in official Pin Yin system of romanization but the Last name sounds like "Drool" as I sent my prior blog to explain such phonetic equivalent for Westerner to utter the names of the Chinese people. My last name should be Xie in official Pin Yin but I am stuck with Shieh in 1947 as a variation of Hsieh as per the Wade-Giles system of romanization. "A Glimpse of the Chinese Language" explains such discrepancies. www.rand.org for the publication of such work.
Page A12: Col.Hu Changming of China said he hopes the US and China can improve military relations(RAND Corporation researchers made recommentation for military exchanges with China decades ago) but remove the weapon sales to Taiwan since China has improved economic relations with Taiwan under Ma,President of Taiwan and vice versa. It would be to US interest when there is peace across the Taiwan strait.
Page A14: Anxious investors pummeled share of Bank of America and Citigroup which some observers think might be nationalized. A bit of humor: Bank of America bears the name of a bank of America i.e. USA. It is mistakenly considered as a public bank of USA to new immigrants in particular even though it is a private bank as known to Americans. Such misnomer may be regarded as "paradox of mindset" as an economic model during the financial crisis.(sic)
Page A17: Develop Human Capital for USA with economic benefit and an active lifestyle plus sensible nutrition. Walking and riding with a bike would be good for health for folks in USA and in China as well. Eat lots of veggies and fruits would be desirable for health as human capital in USA and in China. There is the common ground and nobody would impugn,indeed!
Page B5: As China's economy slows,Carrefour,a French store, tries discounts;Gillett tugs heartstrings in bid to keep consumers spending in China.
That is all for Sino-American economics on January 21, 2009 at 2.52 p.m.
Francis Shieh a.k.a. Xie Shihao,an observer of Sino-American economics in the works.
WashPost,Jan.21,09 Headline: OBAMA TAKES CHARGE
"Huge crowd converges to witness historic inauguration": Nation asked to begin task of 'Remaking America' Remaking America to have good relations with other nations especially economic relations with China. Such rationale is stated by Secretary of State nominee Hillary Clinton several days ago. It is obvious that two great nations on both sides of the Pacific must cooperate and collaborate with many global problems. I mentioned such in "Work and Study Cycle Theory"(1978) as the main conclusion in such work for my vision. Cf. www.loc.gov(Library of Congress online catalog and Georgetown University Library online catalog for information.
Such headline reminds me of the book entitled "Remaking China Policy" by Richard Moorsteen,RAND Corporation economist. www.rand.org for reference. Published by Harvard University Press,1971. I hsppened to review the book at the library of Foreign Service Institute of the State Department in 1998.
Economists are expected to have vision. Economist Richard Moorsteen had such vision in 1960s. When I was doing research at RAND,I published "A Glimpse of the Chinese Language"(1965)www.rand.org for reference. On page 8,I hinted for China to join the international community involving US engagement with China for mutual benefit as my vision. The energy security problem is a case of point as Secretary of Energy nominee Steven Chu answered the queries in Congress several days ago apropos of China's role for global energy problem.
It is 2009 now and international financial crisis would need China to play an important role for global economic crisis.
I have reason to believe that President Obama will follow up such policy with positive scenario for the best interest of America re US-China economic relations.
It is interesting for the readers to witness such happening as envisioned by economist Moorsteen decades ago with my paper for endorsement in the same track four decades ago.
Francis Shieh a.k.a. Xie Shihao on Wednesday,January 21, 2009 at 10.25 a.m.
Such headline reminds me of the book entitled "Remaking China Policy" by Richard Moorsteen,RAND Corporation economist. www.rand.org for reference. Published by Harvard University Press,1971. I hsppened to review the book at the library of Foreign Service Institute of the State Department in 1998.
Economists are expected to have vision. Economist Richard Moorsteen had such vision in 1960s. When I was doing research at RAND,I published "A Glimpse of the Chinese Language"(1965)www.rand.org for reference. On page 8,I hinted for China to join the international community involving US engagement with China for mutual benefit as my vision. The energy security problem is a case of point as Secretary of Energy nominee Steven Chu answered the queries in Congress several days ago apropos of China's role for global energy problem.
It is 2009 now and international financial crisis would need China to play an important role for global economic crisis.
I have reason to believe that President Obama will follow up such policy with positive scenario for the best interest of America re US-China economic relations.
It is interesting for the readers to witness such happening as envisioned by economist Moorsteen decades ago with my paper for endorsement in the same track four decades ago.
Francis Shieh a.k.a. Xie Shihao on Wednesday,January 21, 2009 at 10.25 a.m.
Positive and negative comments apropos of Inaugural address
Perhaps the following would be food for thought as metaphor: -
"Words from a wise man's mouth are gracious, but a fool is consumed by his/her own lips."
Relevant or otherwise? You be the judge for the above aphorism.
Francis Shieh a.k.a. Xie Shihao,a student of words and rhetoric for 6 decades plus.
January 21, 2009 after Inauguration Day,January 20, 2009
"Words from a wise man's mouth are gracious, but a fool is consumed by his/her own lips."
Relevant or otherwise? You be the judge for the above aphorism.
Francis Shieh a.k.a. Xie Shihao,a student of words and rhetoric for 6 decades plus.
January 21, 2009 after Inauguration Day,January 20, 2009
Tuesday, January 20, 2009
Culture: a part and parcel of Sino-American Economics
CULTURE: the school-learned, family-inherited lifestyles and socially acquired traditions of the folks of a nation including their patterned and repetitive ways of thoughts and actions as general information for this blog.
In China: Confucianism appears to be the primary motivating force to influence Chinese folks from generations to generations in a nutshell in the East.
In USA: Western culture appears to follow the Judeo-Christian tradition. However,such influence must add other religions of minorities in the United States and other nations in the West.
My succinct awareness would be subject to comments by the readers with specific knowledge of other religions as part of the culture.
Francis Shieh a.k.a. Xie Shihao, an octogenarian lifelong student of comparative culture in a jiffy.
Tuesday,January 20, 2009,Inauguration Day at 3.38 p.m. without any in-depth research.
In China: Confucianism appears to be the primary motivating force to influence Chinese folks from generations to generations in a nutshell in the East.
In USA: Western culture appears to follow the Judeo-Christian tradition. However,such influence must add other religions of minorities in the United States and other nations in the West.
My succinct awareness would be subject to comments by the readers with specific knowledge of other religions as part of the culture.
Francis Shieh a.k.a. Xie Shihao, an octogenarian lifelong student of comparative culture in a jiffy.
Tuesday,January 20, 2009,Inauguration Day at 3.38 p.m. without any in-depth research.
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