Many companies can learn from Google’s model.

http://invetrics.com

The Fed must pursue maximum and vigorous economic growth at all costs. That will be the only chnace o solve the unemployment problem as well.

admin
ttp://invetrics.com

I mean, I save the url, but url’s expire and so I coped down the bit I thought most interesting:

[name and location omitted, but an expat living in Shanghai]

I wonder why Mr. Ross chose to overlook China’s immense internal
deficiencies when he contributed his analysis of Chimerica. I
live right down the street from the university he teaches at,
Jiao Tong, and I as someone intensely interested in the Chinese
economy and a voracious consumer of information regarding that
subject I must disagree with much of what he said.

Yes, the Chinese economy was better positioned to weather the
financial storm – largely because it’s banks were strong and
solvent, having purged themselves of most of their bad loans over
the preceding decade. The banks – rather than the stimulus – have
been the driver of China’s GDP growth over the past year, doling
out trillions of rmb, much of which went to the construction of
as-of-now useless factories and apartment blocks or ended up
inflating the stock and real estate bubbles. So the banks have in
effect mired themselves back in a position of weakness, as much
of their lending they will never see again. From my office now I
can gaze out at a massive new edifice of glass and concrete that
was landscaped 6 months ago, yet has never been used. Who takes
the loss on this building? The banks, though China will claim the
GDP boost now and sort out the detritus later.

So much of the GDP here is smoke and mirrors, artificially pumped
up by constructing buildings that remain empty, or fleets of cars
that sit idle in car parks so that the leadership can brag that
they sold more cars than America. A strange feature of Chinese
GDP calculation (and retail sale calculation) is that it counts
toward GDP when it is sold from the factory to the business, not
from the business to the consumer. So many here think that the
government and SOEs have been hoarding goods in warehouses and
claiming the GDP boost.

China will have to deal with their profligate ways, just as
America and Japan have had to deal with theirs. China, despite
decades of close partnership with foreign companies, has been
largely unsuccessful in creating their own brand or developing
innovative products – even something like the Iphone, famously
made by FoxComm in Shenzhen, is merely assembled there, with the
high-tech parts shipped in from Japan, Korea and Taiwan.

China better enjoy its brief moment in the sun as the recognized
economic leader, because soon enough the growth rates will come
down (easy money and excess goods can only mask the internal
problems for so long), and she have to settle for more pedestrian
growth and all the unique problems this entails for her.

Doesn’t anyone think China with its atuocratic government, will run rings ar0und every nation in the world just thru the ability to avoid the gridlock that passes for government in a republic with a diverse population of 400,000,000 with a democratic form of government that has been sabotaged by lobbyists, and lawyers?

Has anyone here actually been to China to see what is goin on in that country?

Who here, including BR has seen China, spent time there in the last 10 years?

Anyone?

I read Chang’s book around ’02. He clearly knows something of China. He also clearly has an ax to grind, and ignored the vast amounts of investment China has made in infrastructure/factories… and since then, energy.

This post by Chang reads to me like he’s just scattershot making stuff up. Maybe he’s auditioning for Fox News.