Mysteriously, without any explanation the NY Times website appeared in my firefox window. Of course there was an article in the NY Times announcing their reappearance in China. The Times could not get any explanation as to why the site was blocked in the first place.
The NY Times are constantly running articles about China - positively and negatively but did not suffer any censorship in my two years in China. I don't even want to surmise as to what happened. As things always are in China, there is no explanation for anything.
Anyway, I am just happy to have access to the Times again.
Monday, December 22, 2008
Friday, December 19, 2008
NY Times web site blocked
Agrrrrahhh! Probably the website that I get most of my news these days is now blocked in China.
I heard recently that the Chinese government have resumed their tight censorship over internet access recently after a period of relaxed control around the time of the Olympics. It seems that the NY Times website is one of the casualties. Its funny that for a couple of years now I have not experienced any censorship of the NY Times. Anyway, the funny thing is that the global version of the NY Times, International Herald Tribune is still up and running. I think if you try to figure out China, all you will do is come up with questions with no answers.
I heard recently that the Chinese government have resumed their tight censorship over internet access recently after a period of relaxed control around the time of the Olympics. It seems that the NY Times website is one of the casualties. Its funny that for a couple of years now I have not experienced any censorship of the NY Times. Anyway, the funny thing is that the global version of the NY Times, International Herald Tribune is still up and running. I think if you try to figure out China, all you will do is come up with questions with no answers.
Tuesday, December 2, 2008
Wii
I finally purchased the game console Wii on an impulse. I have heard plenty about how wildly popular it is. When I finally got a chance to play it, I realized that the Wii has taken this form of gaming to another level.
Gaming up to this point in the past 10 years or so has made tremendous strides in graphics. This has taken games from cartoons to look almost like movies. Games have also gotten more and more sophisticated and complicated over the years and this translates well to the hardcore gamers. What was left behind was the regular person who was not very sophisticated when it comes to games. They are typically intimidated by the complicated controls. At parties if you were to bring out the X-box or PS3, you would only be able to get a small percentage of people to play it. The Wii has brought the fun to every person at the party with controls that makes the user interaction with the game intuitive.
I owned the PS1 and XBox in the past and could never get my wife to play with me, but now she has as much fun with the games as me. Nintendo really hit a home run with this machine. An added bonus is the fact that my Wii has been modified to play copies of games which are being sold throughout Shanghai for a measly 5RMB (current exchange rate of 6.8 translates to 73 cents).
Gaming up to this point in the past 10 years or so has made tremendous strides in graphics. This has taken games from cartoons to look almost like movies. Games have also gotten more and more sophisticated and complicated over the years and this translates well to the hardcore gamers. What was left behind was the regular person who was not very sophisticated when it comes to games. They are typically intimidated by the complicated controls. At parties if you were to bring out the X-box or PS3, you would only be able to get a small percentage of people to play it. The Wii has brought the fun to every person at the party with controls that makes the user interaction with the game intuitive.
I owned the PS1 and XBox in the past and could never get my wife to play with me, but now she has as much fun with the games as me. Nintendo really hit a home run with this machine. An added bonus is the fact that my Wii has been modified to play copies of games which are being sold throughout Shanghai for a measly 5RMB (current exchange rate of 6.8 translates to 73 cents).
Sunday, November 16, 2008
Election thoughts
The results of the US presidential elections was not a shocking one by any stretch considering the state of the US economy. However, the results was historic as the first minority ever ascends to the top position in the most powerful nation on Earth.
The significance of this event transcends race relations in the United States. This was a significant event for race relations world-wide. This was not just an African-American becoming the president but a Asian-African-American if there is such a title. Here is a man who was born in Hawaii, with ties to Kenya and Indonesia. He is truly a man of the world and following his win there were mass celebrations throughout the world. The celebrations were especially poignant in his father's hometown in Kenya and his home for 4 years of his childhood in Indonesia.
This event gave people hope worldwide that the person leading the most powerful nation in the world can understand other points of view. I believe that is the factor that Obama brings to the table. This factor can be very effective in many regards if it is used properly. It forms the foundation of a strong tailwind for an Obama administration. I don't know if Obama can be the great president that many hopes he can be, but I can say that the conditions are right for that to happen. I hope he steers the plane along that tailwind even though there will be turbulent times ahead.
The significance of this event transcends race relations in the United States. This was a significant event for race relations world-wide. This was not just an African-American becoming the president but a Asian-African-American if there is such a title. Here is a man who was born in Hawaii, with ties to Kenya and Indonesia. He is truly a man of the world and following his win there were mass celebrations throughout the world. The celebrations were especially poignant in his father's hometown in Kenya and his home for 4 years of his childhood in Indonesia.
This event gave people hope worldwide that the person leading the most powerful nation in the world can understand other points of view. I believe that is the factor that Obama brings to the table. This factor can be very effective in many regards if it is used properly. It forms the foundation of a strong tailwind for an Obama administration. I don't know if Obama can be the great president that many hopes he can be, but I can say that the conditions are right for that to happen. I hope he steers the plane along that tailwind even though there will be turbulent times ahead.
Tuesday, November 4, 2008
Qingdao
The first week of October is known as "Golden Week" (黄金周）. This is one of two weeks in China (other being the week of Chinese New Year) where the country is off from work for the entire week. Needless to say this is a perfect opportunity to take off and to a little traveling.
During this period me and the wife traveled to Qingdao in Shangdong province, about a hour's flight north of Shanghai. Qingdao is known in China and internationally as the city that produces China's most famous beer - Tsingtao beer. This city was under the control of the Germans earlier in the 1900's and it was at that time that the Tsingtao brewery was established. German influences are evident here in its architecture.
The city is situated right along the ocean, and despite its Chinese name 青岛- literally translated as "Green Island", this city is not an island.
While planning for this trip we were pleasantly surprised and then apprehensive when we discovered that the Tsingtao Beer Festival was being held right at the time we were planning on visting. We were happy that we stumbled upon the highlight event of Qingdao on the calendar because normally this event is held in August. This year Qingdao held the sailing events in both the Olympics and Paralympics from August to September. Therefore the beer festival was postponed until October. What we were apprehensive about was the specter of going on vacation during a weeklong holiday to a city holding its biggest festival of the year. This had all of the ingredients of a week filled with a sea of humanity vying for all the recreation resources the city had to offer.
In reality while there was some sites where there were crowds of people, our worst fears were really never realized. The beer festival was attended by lots of people, but just enough to make the ambiance festive instead of becoming overcrowded. The food at the festival was overpriced and not too tasty, but the combination of beer, music and a general festive atmosphere made for a great time.
We also toured the Tsingtao beer museum which detailed the history of the company and there was a live brewery along with a bottling facility. The end of the tour in the museum brought us to a bar where we were given samples of Tsingtao draft and Tsingtao raw draft beers. The beer museum is also located in Qingdao's "Beer Street". This street is strewed with seafood restaurant serving of course, Tsingtao beer. This is a great place to relax in the evening especially when there are lots of people sitting on outdoor tables.
When we were not drinking beer, we were touring the city with its German influences. The city has a leisurely pace that was quite welcoming considering where we live.
Overall, I found Qingdao to be a nice place to visit for a few days to get away from the madness of urban life.
Friday, October 24, 2008
Saturday, October 11, 2008
Global financial crisis
After blogging for over a year and touching on the oft-mentioned theme of the Chinese stock market meltdown, I am now confronted with a meltdown of global proportions.
Ironically, the Chinese economy might be in a better position than many to withstand this global crisis. I think at this point, the Chinese economy will no doubt feel the effects of this crisis roiling in the US and Europe. The effects will be indirect - lower demand for Chinese imports and less overseas investments.
The banks in China was not plagued with the same problems with their counterparts in the west ironically because the economy here in China is not as mature. Credit is not used as much as America as a tool to finance investments and purchases. Therefore, the impact on China will be coming externally rather than internal. The key for China and its large eastern cities will be their own credit markets and the real estate market. After the stock market meltdown, China can ill-afford to have a real estate meltdown. The real estate market have shown signs of weakness, and are indeed very much over priced. If this part of the economy starts to deteriorate, things could become quite ugly as well
Of course, it still remains to be seen if things will get as bad here in China as elsewhere in the world. One thing is for sure, Chinese economy is not as leveraged as Americas, and that just might be enough to keep things from getting really ugly.
Ironically, the Chinese economy might be in a better position than many to withstand this global crisis. I think at this point, the Chinese economy will no doubt feel the effects of this crisis roiling in the US and Europe. The effects will be indirect - lower demand for Chinese imports and less overseas investments.
The banks in China was not plagued with the same problems with their counterparts in the west ironically because the economy here in China is not as mature. Credit is not used as much as America as a tool to finance investments and purchases. Therefore, the impact on China will be coming externally rather than internal. The key for China and its large eastern cities will be their own credit markets and the real estate market. After the stock market meltdown, China can ill-afford to have a real estate meltdown. The real estate market have shown signs of weakness, and are indeed very much over priced. If this part of the economy starts to deteriorate, things could become quite ugly as well
Of course, it still remains to be seen if things will get as bad here in China as elsewhere in the world. One thing is for sure, Chinese economy is not as leveraged as Americas, and that just might be enough to keep things from getting really ugly.
Sunday, October 5, 2008
haircut for life!!
I have been sporting a military style buzz cut for the past 2 years. This new hairstyle started during my backpacking trip in 2005. This was done with pure practicality in mind as it minimized the amount of grooming time during our trip to the third world. The other reason was to see how I would look without much hair since we have a history of male pattern baldness on both my maternal and paternal sides. After the trip I decided to keep the look because I was never a hairstyle kind of guy anyway.
I have been cutting my own hair with a pair of electric hair clippers since my hairstyle has uniform length on all sides. Before people start to draw conclusions to my thriftiness, I must tell my side of the story.
Barbershops, like many service industries here in China like to promote the pre-paid membership pricing strategy. What this means is that when you go for a haircut that costs about 15 RMB (around $2.20) including hair wash you have to endure sales pitches from nearly every person who services you. When the haircut is over and you are ready to pay, then you would typically get a hard sales pitch where you would have to reject the offer about 5 times before they retreat.
The deal typically goes like this: you prepay 1000RMB value for a prepaid/membership card and enjoy a 20% discount for all services at the store as long as you keep a prepaid balance on the card. The absurdity of the whole thing is that a prepaid 1000RMB card gets you monthly haircuts for 5 years before the value on the card is depleted. Of course, the typical barbershop offers many other services that the card can be used for such as that hair washing, back massage, earwax removal, etc.
This give some insight to the mentality of the Chinese consumer where they can be enticed into "buying in bulk" to enjoy discounts. To me, when you buy in bulk, you also tend to consume in bulk.
The high pressure sales pitch and a new outlook on my hairstyle are the top reasons that I now typically cut my own hair. Its funny but its true.
I have been cutting my own hair with a pair of electric hair clippers since my hairstyle has uniform length on all sides. Before people start to draw conclusions to my thriftiness, I must tell my side of the story.
Barbershops, like many service industries here in China like to promote the pre-paid membership pricing strategy. What this means is that when you go for a haircut that costs about 15 RMB (around $2.20) including hair wash you have to endure sales pitches from nearly every person who services you. When the haircut is over and you are ready to pay, then you would typically get a hard sales pitch where you would have to reject the offer about 5 times before they retreat.
The deal typically goes like this: you prepay 1000RMB value for a prepaid/membership card and enjoy a 20% discount for all services at the store as long as you keep a prepaid balance on the card. The absurdity of the whole thing is that a prepaid 1000RMB card gets you monthly haircuts for 5 years before the value on the card is depleted. Of course, the typical barbershop offers many other services that the card can be used for such as that hair washing, back massage, earwax removal, etc.
This give some insight to the mentality of the Chinese consumer where they can be enticed into "buying in bulk" to enjoy discounts. To me, when you buy in bulk, you also tend to consume in bulk.
The high pressure sales pitch and a new outlook on my hairstyle are the top reasons that I now typically cut my own hair. Its funny but its true.
Thursday, September 25, 2008
Visit to Taipei
I had a revelation on a trip to Taipei last month. The place where I was born has become a modern world class city right under my nose.
I left Taiwan in 1978 and did not make a return trip until 1994. Since then I have been going back there every 3 to 4 years. On my initial trip back to Taiwan, the country was evolving. Conditions reminded me of the way Shanghai looks outside of the downtown area. Things were still under construction and had somewhat of a third world feel to it. The air was very polluted from factory pollution and construction sites. The traffic patterns was very much like they are currently in Shanghai - wild and not for the faint of heart.
Even though I have been going to Taiwan every so often since that initial trip, I somehow did not noticed the changes as they were subtle. During this trip, I reminisced about that initial trip and realized just how much the city has changed. The city now has a new subway system which has alleviated much of the traffic problems that plagued it the past. That along with the move of the manufacturing sector to mainland China has really lessened the pollution. The development of a highway system along with the completion of a high speed railway system has also led to an efficient transportation system.
The other aspect of improvement in Taiwan is the culinary scene. The native Taiwanese food has always been a favorite and is best eaten in the multitude of street stands. This is an aspect of dining that is far better than what Shanghai has to offer. There is also a high quality of fare of foreign influence.
Service has improved to an excellent quality in all aspects of the service sector. It appears that what American would consider a middle class lifestyle is within reach of many Taiwanese.
I still remembered on my initial trip back to Taiwan in 1994 I never thought that I could actually live in Taipei, but after my recent trip I must admit that my birthplace has become a very livable place.
I left Taiwan in 1978 and did not make a return trip until 1994. Since then I have been going back there every 3 to 4 years. On my initial trip back to Taiwan, the country was evolving. Conditions reminded me of the way Shanghai looks outside of the downtown area. Things were still under construction and had somewhat of a third world feel to it. The air was very polluted from factory pollution and construction sites. The traffic patterns was very much like they are currently in Shanghai - wild and not for the faint of heart.
Even though I have been going to Taiwan every so often since that initial trip, I somehow did not noticed the changes as they were subtle. During this trip, I reminisced about that initial trip and realized just how much the city has changed. The city now has a new subway system which has alleviated much of the traffic problems that plagued it the past. That along with the move of the manufacturing sector to mainland China has really lessened the pollution. The development of a highway system along with the completion of a high speed railway system has also led to an efficient transportation system.
The other aspect of improvement in Taiwan is the culinary scene. The native Taiwanese food has always been a favorite and is best eaten in the multitude of street stands. This is an aspect of dining that is far better than what Shanghai has to offer. There is also a high quality of fare of foreign influence.
Service has improved to an excellent quality in all aspects of the service sector. It appears that what American would consider a middle class lifestyle is within reach of many Taiwanese.
I still remembered on my initial trip back to Taiwan in 1994 I never thought that I could actually live in Taipei, but after my recent trip I must admit that my birthplace has become a very livable place.
Saturday, September 20, 2008
Turmoil on Wall Street
The past two weeks have been incredibly eventful in the financial world. Several of the biggest names on Wall Street have either gone out of business, forced to be sold, or saved by the US Government.
This is very relevant to me since I use to work at one of the two remaining independent investment banks still embroiled in the turmoil. I have spoken to some of my former co-workers and can sense the nervousness about their uncertain future. It is likely that they will have to be forced into a merger considering the adverse market condition for an independent investment bank to operate under. This will most likely result in layoffs as there will be redundancies in any merger.
As this financial seismic event was taking place on Wall Street, people in China also felt it as their stock market dove in concert with the global markets. Its actually pretty amazing how many people in China actually know the names of Lehman Brothers, Morgan Stanley and Goldman Sachs. I don't think most Chinese actually know what these firms do, but then again it seems like the firms themselves don't seem to either.
This is very relevant to me since I use to work at one of the two remaining independent investment banks still embroiled in the turmoil. I have spoken to some of my former co-workers and can sense the nervousness about their uncertain future. It is likely that they will have to be forced into a merger considering the adverse market condition for an independent investment bank to operate under. This will most likely result in layoffs as there will be redundancies in any merger.
As this financial seismic event was taking place on Wall Street, people in China also felt it as their stock market dove in concert with the global markets. Its actually pretty amazing how many people in China actually know the names of Lehman Brothers, Morgan Stanley and Goldman Sachs. I don't think most Chinese actually know what these firms do, but then again it seems like the firms themselves don't seem to either.
Sunday, September 14, 2008
Mid Autumn Festival (中秋节）
So today is the Mid Autumn Festival (中秋节）. This will be the first time in China where this holiday will be observed with a day off from work. Even though the actual holiday this year (its 8/15 on the lunar calendar) lands on a Sunday, businesses will be closed on the following Monday.
The Mid Autumn Festival is marked by the gifting of mooncakes (月饼）to friends and family members. I like to compare these mooncakes to fruitcakes that traditionally gets gifted around during Christmas time. Neither are particularly tasty but are both ubiquitous.
The gifting of mooncakes is such a tradition here that it is taking on a life of its own. Its similar to Christmas in some ways, except the only gift to give is the mooncake. Businesses make sure that they give mooncakes to their important customers, not doing so will be seen as a sign of disrespect.
I personally don't like to eat them, but we get so many from friends and business associates that we don't know what to do with them. Well, at the very least I get a day off from work and that would be the best thing about this holiday.
The Mid Autumn Festival is marked by the gifting of mooncakes (月饼）to friends and family members. I like to compare these mooncakes to fruitcakes that traditionally gets gifted around during Christmas time. Neither are particularly tasty but are both ubiquitous.
The gifting of mooncakes is such a tradition here that it is taking on a life of its own. Its similar to Christmas in some ways, except the only gift to give is the mooncake. Businesses make sure that they give mooncakes to their important customers, not doing so will be seen as a sign of disrespect.
I personally don't like to eat them, but we get so many from friends and business associates that we don't know what to do with them. Well, at the very least I get a day off from work and that would be the best thing about this holiday.
Friday, September 5, 2008
The bubble that was
This recurring theme continues to bear fruit. Who can resist talking about money? The Shanghai Stock Exchange Composite sits today 9/5/08 at 2202, a 64% drop from its high of 6124 on 10/16/07. This is also a 22% drop from my last blog entry (6/11/08 - 2856) about this historic collapse.
I no longer consider this a bubble anymore. By conventional measures, this index is probably close to its fair value (but still a bit on the high side). Of course this does not mean that the decline will halt because during a panic, stock market values tend to overshoot fair value to settle at below value. This could mean another several hundred points of decline in store for this market. To their credit, the Chinese government for the most part have not made any dramatic policy changes to placate the investors who have lost a considerable amount of their investment. Accountability should rest on the investors in order for capital markets to reach maturity.
The retail investors have really taken it on the chin. A cross section of society have been affected by this, and that is a pattern when a market is in a bubble. It can only get to that point when all kinds of people start to invest in it. Where I work there are people who are mail room clerks, landscapers and chauffeurs all investing in the stock market. Our maid have also dabble in it. This correction was necessary and imperative in order for this stock market to mature.
The latest development in the real estate market in China is that it is following the stock market in a correction. Sales volume have really slowed to a trickle for the past year and the prices are dropping throughout the country. We will see where all of this end soon enough.
I no longer consider this a bubble anymore. By conventional measures, this index is probably close to its fair value (but still a bit on the high side). Of course this does not mean that the decline will halt because during a panic, stock market values tend to overshoot fair value to settle at below value. This could mean another several hundred points of decline in store for this market. To their credit, the Chinese government for the most part have not made any dramatic policy changes to placate the investors who have lost a considerable amount of their investment. Accountability should rest on the investors in order for capital markets to reach maturity.
The retail investors have really taken it on the chin. A cross section of society have been affected by this, and that is a pattern when a market is in a bubble. It can only get to that point when all kinds of people start to invest in it. Where I work there are people who are mail room clerks, landscapers and chauffeurs all investing in the stock market. Our maid have also dabble in it. This correction was necessary and imperative in order for this stock market to mature.
The latest development in the real estate market in China is that it is following the stock market in a correction. Sales volume have really slowed to a trickle for the past year and the prices are dropping throughout the country. We will see where all of this end soon enough.
Monday, September 1, 2008
Fortune Cookies in China
This goes to show you that something that is as ubiquitous as fortune cookies in America is actually not what it seems:
Saturday, August 30, 2008
Olympics hangover
So the Olympics ended last Sunday with the closing ceremonies. The funny thing is that if you turn on the TV here in Shanghai, you can still watch the Opening Ceremonies, the Closing Ceremonies, selected events such as the USA-Spain basketball gold medal game and the USA-China basketball match.
After being inundated with wall to wall Olympic coverage on 5 CCTV channels and the Shanghai sports channel, you can say that I am pretty much Olympicked-out (if there is such a word). But its been a week after the Olympics and its almost as if the country cannot put this event behind them. I guess it is no wonder since this is the first large scale international event that China has hosted where it gave the country so much "face" (面子）, and we all know how important that is to the Chinese people.
After being inundated with wall to wall Olympic coverage on 5 CCTV channels and the Shanghai sports channel, you can say that I am pretty much Olympicked-out (if there is such a word). But its been a week after the Olympics and its almost as if the country cannot put this event behind them. I guess it is no wonder since this is the first large scale international event that China has hosted where it gave the country so much "face" (面子）, and we all know how important that is to the Chinese people.
Monday, August 18, 2008
Fall of an Icon
Today, the Chinese 110 meter hurdler Liu Xiang withdrew from his first race thereby ending his dream of repeating as Olympic champion in his event. I think it is fair to say that this sent shock-waves through the collective Chinese psyche. This is the last athlete that anyone in China would want this to happen to.
To understand the magnitude of this development, one has to consider the place that China sits in the world today. China is an country whose people believe that they are on the threshold of being a superpower, even though in reality it probably already is. There is a deep seated inferiority complex in the Chinese psyche. The times of chaos, upheaval and poverty was only a generation ago. There are deep scars from those times. The education system very much emphasizes how tough life has been for the Chinese in the past 100 years. From being occupied by the western powers in the earlier part of the century to the atrocities committed by the Japanese during WW2. Even though the madness of Mao is not taught in the schools, they are very much fresh in the memories of the middle aged to the elderly in the Chinese population. The Chinese very much recognize their shortcomings.
The other factor is the obvious fact that the Chinese do not excel in track and field events. The rare events that the Chinese had previous success are in the endurance events, not the short distance track event that are normally dominated by the black athlete. The Chinese excel at events where skill, quickness and hand-eye coordination are important. The 110 meter hurdle and other sprint events represents power and speed and machismo. Liu Xiang represents the rarest of the Chinese athlete.
This confluence of factors has stirred up very strong feelings for Liu Xiang. He symbolizes the image of a new China, one that is constantly improving and ready to show the world what they are capable of.
I personally believe that the Chinese would trade all of the ping pong and badminton gold medals that they have won in these Olympics for Liu Xiang to get his gold. It may take another 30 years for the next Liu Xiang to come along.
To understand the magnitude of this development, one has to consider the place that China sits in the world today. China is an country whose people believe that they are on the threshold of being a superpower, even though in reality it probably already is. There is a deep seated inferiority complex in the Chinese psyche. The times of chaos, upheaval and poverty was only a generation ago. There are deep scars from those times. The education system very much emphasizes how tough life has been for the Chinese in the past 100 years. From being occupied by the western powers in the earlier part of the century to the atrocities committed by the Japanese during WW2. Even though the madness of Mao is not taught in the schools, they are very much fresh in the memories of the middle aged to the elderly in the Chinese population. The Chinese very much recognize their shortcomings.
The other factor is the obvious fact that the Chinese do not excel in track and field events. The rare events that the Chinese had previous success are in the endurance events, not the short distance track event that are normally dominated by the black athlete. The Chinese excel at events where skill, quickness and hand-eye coordination are important. The 110 meter hurdle and other sprint events represents power and speed and machismo. Liu Xiang represents the rarest of the Chinese athlete.
This confluence of factors has stirred up very strong feelings for Liu Xiang. He symbolizes the image of a new China, one that is constantly improving and ready to show the world what they are capable of.
I personally believe that the Chinese would trade all of the ping pong and badminton gold medals that they have won in these Olympics for Liu Xiang to get his gold. It may take another 30 years for the next Liu Xiang to come along.
Thursday, August 14, 2008
Olympic controversy
What would a world event be without a controversy? The Spanish Olympic basketball team apparently posed for an advertisement for a Spanish courier service where they used their fingers to push the side of their eyes upward to mimic a "slit-eyed Chinese". I think the image speaks for itself. There will be prejudices among us no matter what because of our differences. It is just part of our nature.
For me personally, I found the pose offensive since I grew up in America in the 1980's, a period of time where a place like New York was not as diverse as it is now. During my childhood these kind of insults were commonplace. It speaks to the deep-seated prejudice that exists in all of us that emerge from ignorance. Children are the most honest, so it is in that environment where you see the true image of society. In that environment, there wasn't a day that went by where I was unaware of how I stand out among the crowd. I think my surroundings let me know all of the time. So for me, I recognize the gesture by the Spanish Olympic basketball team immediately.
The more interesting thing is that when I showed the picture to my colleagues who are native Chinese, they couldn't figure out what the pose stood for. I suspected that the reaction would be as such. The Chinese people who grew up in China live in a more homogeneous society where they were the majority. They have never been exposed to the type of racism that those of us who were raised overseas experienced. If anything, they were the ones perpetrating the stereotyping of the ethnic minorities in China such as the Tibetans and the Uighers.
I have learned over time, that every once in a while you are reminded of some the ugliness of human nature that exists in all of us.
Friday, August 8, 2008
Olympics thoughts 2
I just had a chance to see the opening ceremonies of the Beijing Olympics. I must admit that even though I grew up in America, there was a definite sense of pride that I had for the country being able to host these games.
The opening ceremonies started with a 75 minute tribute to the 5000 year history of China. For those with some knowledge about Chinese history, there was some meaning to these performances. However, I am sure for most people in the States, about the only thing that they could specifically understand is probably during the Tai-Chi performance.
The parade of the athletes was a drawn out, near 2.5 hour affair. Honestly it was interesting to watch in the beginning but after about a hour of seeing countries being introduced and circumnavigating the stadium mostly from nondescript countries it became a bit mundane. The most anticipated event was the lighting of the Olympic torch. It certainly did not disappoint as the former 3 time gold medalist (and 6 time medalist) Li Ning from the 1984 Olympics circumnavigated the top rim of stadium hanging from thin cables to light the torch.
Overall, it was a celebration of China and its willingness to engage the rest of the world. I was struck by the spirit of the volunteers who performed in the ceremony, as there was a definite sense of excitement and enthusiasm one typically does not see in Chinese people. It was almost as if they knew everyone was watching and they just wanted to connect with them through the television screen. I think I underestimated how important the Olympics is to a country like China who have been secluded and shrouded in mystery to most outsiders. I think now I understand, and I hope this marks the beginning of a true understanding of the culture and the people of China. I hope it changes the perception of China from the rest of the world.
The opening ceremonies started with a 75 minute tribute to the 5000 year history of China. For those with some knowledge about Chinese history, there was some meaning to these performances. However, I am sure for most people in the States, about the only thing that they could specifically understand is probably during the Tai-Chi performance.
The parade of the athletes was a drawn out, near 2.5 hour affair. Honestly it was interesting to watch in the beginning but after about a hour of seeing countries being introduced and circumnavigating the stadium mostly from nondescript countries it became a bit mundane. The most anticipated event was the lighting of the Olympic torch. It certainly did not disappoint as the former 3 time gold medalist (and 6 time medalist) Li Ning from the 1984 Olympics circumnavigated the top rim of stadium hanging from thin cables to light the torch.
Overall, it was a celebration of China and its willingness to engage the rest of the world. I was struck by the spirit of the volunteers who performed in the ceremony, as there was a definite sense of excitement and enthusiasm one typically does not see in Chinese people. It was almost as if they knew everyone was watching and they just wanted to connect with them through the television screen. I think I underestimated how important the Olympics is to a country like China who have been secluded and shrouded in mystery to most outsiders. I think now I understand, and I hope this marks the beginning of a true understanding of the culture and the people of China. I hope it changes the perception of China from the rest of the world.
Monday, July 21, 2008
weekend trip: Huangshan
One of the goals during our stay in China has been to travel and explore Asia as much as we can. With this sentiment in mind forms the basis of our spontaneous weekend trip to Huangshan （黄山）.
My wife's co-worker was planning to go to Huangshan with relatives and asked us to go. This was last Wednesday and we were to go on Saturday. Visit a place in China with a legendary status that we have never been? Absolutely.
Huangshan has a special place in Chinese history as it is often acclaimed in Chinese art and literature. It is known for it beauty and spectacular scenery. One of the most surreal and beautiful sights is the "sea of clouds" (云海）. Since the peak is above cloud level the ebb and flow of the clouds between and through the ranges can be observed at these mountain tops.
Huangshan is about a 6 hour bus ride from Shanghai or an 11 hour train ride. Why the difference? This is because Huangshan is on the western side of a mountain range and since Shanghai is east of Huangshan, there are quite a bit of mountain terrain between them. The railways of China has been in existence for many number of years while the highways have only been developed on a mass scale recently. This means that the railway track were built around the mountain range in the distant past, while newer technology was available to build the highway through the mountain range.
We decided to break up the trip by leaving Shanghai for Hangzhou, another place of legendary status in China that is situated at nearly the half way point between Shanghai and Huangshan. This affords us a shorter bus ride Saturday morning and more time and energy for the hike.
There are 3 trams that takes visitors up to the peak. These trams rides can fit up to 6 people and takes about 10 minutes to go to the top. When we reached the top the, the Huangshan revealed itself in a surreal way. It had rained earlier in the day and the peak was intermittently shrouded in fog throughout our 2 day visit. Certain lookout points revealed views of the clouds shrouding and moving between the peaks. Other areas offered stunning views of deep gorges on artificial concrete trails cantilevering off the side of the mountain.
Our first day and a half consists of hiking on trails that were sparsely trekked, that is probably because we were no where close to the more famous areas of the peak. This afforded us the feeling that we were really in tuned with nature. One trail we hiked on - the Western Steps was a 5 hours hike that was physically grueling as it interval between climbing and descending steps. This was also where we saw the deepest gorges. By the end of day two we descended on to the more touristy side of Huangshan. It was every bit the China tourism nightmare. The trail was narrow and there were throngs of people clogging up these trails. Some parts of the trail was hazardous as there were too many people trying to climb and descend on the same trail. We were so busy dodging people that I don't remember seeing anything worth remembering. It was a good thing that we got to this area to take the tram down the mountain and we only spent about 1 hour in this area.
Overall, if one were to visit Huangshan and hike off the beaten trails one will be rewarded with the best that nature has to offer.
Logistics:
In visiting Huangshan, one should plan to stay overnight for at least one night. Lodgings are available at the peak and at two different points at the base of the mountain. At the base of the mountain there is a small town called Tangkou (汤口）which is right outside the front gate of the Huangshan recreation area. This is about 20 minutes bus or cab ride to the trams. Accommodations here are spartan by western standards, with rooms available for around 80-100rmb. The other area at the base of the mountain is the city of Tunxi (屯溪), which is about an 1 hour cab or van ride away from Tangkou. As this is the main springboard point to Huangshan, there are hotels of all types and the area airport is located here as well. If budget permits, I would recommend that a visit to Huangshan should be spend overnight in hotels at the peak. Hotels up there are 3 star quality and they run about 1000rmb and up. Dorm rooms costs about 220rmb but the rooms tend to be dirty and uncomfortable. The quality of all accommodations at the peak do not justify the price, but the walk to see the sunrise at 4:30 in the morning might. The tram to the peak of Huangshan costs 80rmb and the entrance fee to the Huangshan recreation area costs 202rmb.
To get to Huangshan from Hangzhou, there are buses available for 100rmb from the west bus station to Tangkou (3.5 hours) or 85RMB to Tunxi (2.5 hours). From Shanghai, there are buses available from the Hutai street station to Tangkou (6 hours) for 130rmb and 100rmb to Tunxi (5 hours).
Here is a map of the Huangshan area:
http://www.maps-of-china.net/tourism_map/h_touristmap1.html
Wednesday, July 16, 2008
dogs days of summer
I am starting to realize that I really hate summers here in Shanghai. Temperatures have been hovering in the low to mid 90's in recent weeks and topped out at 100 last weekend. Humidity are also at intolerable levels. This misery is compounded by hazy, polluted air. I think I rather be in Las Vegas where temperatures are in the mid 100s than be here in Shanghai.
Heat waves like this are common during summers in New York, but that is exactly what it is, heat waves. Over here in Shanghai, this type of weather is the norm with very few "cool waves".
Heat waves like this are common during summers in New York, but that is exactly what it is, heat waves. Over here in Shanghai, this type of weather is the norm with very few "cool waves".
Thursday, July 10, 2008
Olympic thoughts
Well, the Olympics is finally in its last month of hype.
When the IOC first announced that the Olympics has been awarded to Beijing a few years ago, I was still living in the NY. Even though I had never lived in China, I felt a feeling of pride that an event like that was finally to be held in China. My plan back then was that when 2008 rolled around that I would try to attend the Olympics somehow. This was before I ever visited China.
Now that I live in China and know how difficult things can get logistically, I shuddered at the thought of going to Beijing during the Olympics. The sea of humanity, trouble getting flights, troubles at the airport, trouble finding a hotel, trouble getting to the venues, etc. I was also becoming nauseated with the media bombardment here in China hyping up the games. How this is the such a showcase of the country that seems like everything being done is in the name of the Olympics.
I have felt almost a disdain for the Olympics until recently. Now there is a part of me that want to go to Beijing during the Olympics just to check out the festivities. I am interested in seeing how the local Chinese deal with so many foreigners in their country. This is not NY, where there are many foreigners living there. China is still a relatively homogeneous society. Will I see the local Chinese put up a facade? I suspect that they will.
I am also interested in seeing the dynamics of so many foreigners descending upon a city. Will the foreigners like what they see in China? I don't think I need to even attend an event, in fact I would prefer to avoid the events especially the large ones.
Well, I am going to have to convince my wife to go since she is not as interested as me in going to Beijing.
When the IOC first announced that the Olympics has been awarded to Beijing a few years ago, I was still living in the NY. Even though I had never lived in China, I felt a feeling of pride that an event like that was finally to be held in China. My plan back then was that when 2008 rolled around that I would try to attend the Olympics somehow. This was before I ever visited China.
Now that I live in China and know how difficult things can get logistically, I shuddered at the thought of going to Beijing during the Olympics. The sea of humanity, trouble getting flights, troubles at the airport, trouble finding a hotel, trouble getting to the venues, etc. I was also becoming nauseated with the media bombardment here in China hyping up the games. How this is the such a showcase of the country that seems like everything being done is in the name of the Olympics.
I have felt almost a disdain for the Olympics until recently. Now there is a part of me that want to go to Beijing during the Olympics just to check out the festivities. I am interested in seeing how the local Chinese deal with so many foreigners in their country. This is not NY, where there are many foreigners living there. China is still a relatively homogeneous society. Will I see the local Chinese put up a facade? I suspect that they will.
I am also interested in seeing the dynamics of so many foreigners descending upon a city. Will the foreigners like what they see in China? I don't think I need to even attend an event, in fact I would prefer to avoid the events especially the large ones.
Well, I am going to have to convince my wife to go since she is not as interested as me in going to Beijing.
Friday, June 13, 2008
The incredible shrinking bubble
Well, if you have been reading my blog since the beginning you know this has been a recurring theme - the bubble that is the Shanghai Stock Market. The latest is the bubble has shrunk to a level where things are starting to look reasonable. Seems like this market is destined to bottom out sometime around the Olympics. The Shanghai index has taken an eye-popping 53% haircut since last October (6124 to 2869). Reminds you of the NASDAQ bubble doesn't it?
I think there is still some more to go. I think a fair value for this market is around 2000 but in a situation like this the correction will surely overshoot. So I would not be surprise if it hits 1500. This market stood at 1161 on 1/1/06 so if this market falls to 1500 it would still be a return of 30% over a period of around 3 years, still not too bad by traditional measures.
Surprisingly, most of the regular small investors taken all of this in stride. It seems like they view stock market investing as gambling anyway so they can accept the fact that they lost money. That is a bad state of affairs when people have so little faith in the stock market.
I think there is still some more to go. I think a fair value for this market is around 2000 but in a situation like this the correction will surely overshoot. So I would not be surprise if it hits 1500. This market stood at 1161 on 1/1/06 so if this market falls to 1500 it would still be a return of 30% over a period of around 3 years, still not too bad by traditional measures.
Surprisingly, most of the regular small investors taken all of this in stride. It seems like they view stock market investing as gambling anyway so they can accept the fact that they lost money. That is a bad state of affairs when people have so little faith in the stock market.
Wednesday, June 4, 2008
The invasion of the American Fast Food
You didn't think it could happen in China, but yes even the Chinese have succumbed to the fast food addiction. Take a look at this video:
The business model that McDonalds has is absolutely brilliant because it is so deceptive to their customers. In the modern world where everyone is busy, McDonalds has created a convenient, children-friendly dining environment. Make food that kids like, have facilities where they can play and you have weaned a whole generation of people on their products.
This model has worked well in many parts of the world and it is doing the same in a place where one would not think it would work since the traditional eating habits doesn't seem to be lend itself to McDonalds.
The business model that McDonalds has is absolutely brilliant because it is so deceptive to their customers. In the modern world where everyone is busy, McDonalds has created a convenient, children-friendly dining environment. Make food that kids like, have facilities where they can play and you have weaned a whole generation of people on their products.
This model has worked well in many parts of the world and it is doing the same in a place where one would not think it would work since the traditional eating habits doesn't seem to be lend itself to McDonalds.
Thursday, May 29, 2008
Weekend Trip: Wuzhen
Last weekend I took a trip to Wuzhen in Zhejiang Province. This is about 80 miles southwest of Shanghai and is a city along the Grand Canal in China.
Like many places of interest in China, the government has taken the opportunity to make money on it. This use to be just a sleepy village along the canal, but now the government has renovated it into a tourist destination. The old houses along the canal has renovated interiors while leaving the exterior in its original state. It is hard to tell how much of the town is the original structure and how much is actually replicas of the original architecture.
The entry fee for this "park" or village is 120RMB ($17) and the renovated hotels cost 268RMB ($38) for single room, 468RMB for a double($67) and 528RMB for a triple($76). Once you enter the village, if you wish to stay overnight, you must stay in one of these hotels. These prices might sound reasonable in US dollar terms, but for the locals it is a large sum of money. The people who can afford to stay in these hotels tend to be white collar types.
The scenery in this village is quite nice, especially at night when the banks along the canal are illuminated.
Overall, this town is a quite relaxing place to spend a quiet weekend.
Wednesday, May 28, 2008
Charity
There has been an incredible amount of sympathy from Chinese citizens showered upon their compatriots who have suffered through this earthquake. People have found many ways to help out the victims. The government has dispatched upwards of 150000 troops to the region to help in the rescue effort. There has been stories of regular citizens who have made their way into the area to help in the rescue effort. For the vast majority of the people, going into the earthquake region to help is not a realistic option so many have donate money to various charitable organizations.
During this period of time, there are inevitably certain expectations made of the rich and famous to do their part. What has surprised me is the close attention the Chinese has paid the the contribution of the wealthy. There has been lists made of famous Chinese and their contributions on the internet, The ones who made contribution that seem small has been roundly criticized on internet BBS and forums. This has led to the practice of people dissecting every celebrity's contribution in comparison to their perceived wealth. I understand that human beings love to gossip like this, but I don't ever remembering discussions about this topic to the extent that they do here in China compared to the US. Some celebrities like Yao Ming who initially contributed 500,000RMB ($71500) changed his contribution to 2,000,000RMB ($290,000) after a shower of criticism from netizens. After all, Yao makes about $10,000,000 right?
I find this type of behavior very counterproductive and petty. The extent of the peer pressure in Chinese society has exceeded my expectations. Even though I did not live through the Cultural Revolution (1960's - 1970's), I am starting to get an idea as to the mentality of the Chinese mass that let to it. Even though Mao was the instigator of the whole episode, it was the mass who exacerbated the situation. If it wasn't for regular people reporting "counter-revolutionaries" to the government, the Cultural Revolution would not have gone to the extent that it did.
So now if a person like Yao Ming does not contribute his "fair" share, he is branded a traitor. People were declaring that Yao is not Chinese anymore, he has become American. I have heard instances where workers of American companies being angry because they believe their employer's contributions were too low.
In some regards even though I grew up there, I sometimes feel like an outsider in America. But in many more regards, I am relieved that I am not an insider in China.
During this period of time, there are inevitably certain expectations made of the rich and famous to do their part. What has surprised me is the close attention the Chinese has paid the the contribution of the wealthy. There has been lists made of famous Chinese and their contributions on the internet, The ones who made contribution that seem small has been roundly criticized on internet BBS and forums. This has led to the practice of people dissecting every celebrity's contribution in comparison to their perceived wealth. I understand that human beings love to gossip like this, but I don't ever remembering discussions about this topic to the extent that they do here in China compared to the US. Some celebrities like Yao Ming who initially contributed 500,000RMB ($71500) changed his contribution to 2,000,000RMB ($290,000) after a shower of criticism from netizens. After all, Yao makes about $10,000,000 right?
I find this type of behavior very counterproductive and petty. The extent of the peer pressure in Chinese society has exceeded my expectations. Even though I did not live through the Cultural Revolution (1960's - 1970's), I am starting to get an idea as to the mentality of the Chinese mass that let to it. Even though Mao was the instigator of the whole episode, it was the mass who exacerbated the situation. If it wasn't for regular people reporting "counter-revolutionaries" to the government, the Cultural Revolution would not have gone to the extent that it did.
So now if a person like Yao Ming does not contribute his "fair" share, he is branded a traitor. People were declaring that Yao is not Chinese anymore, he has become American. I have heard instances where workers of American companies being angry because they believe their employer's contributions were too low.
In some regards even though I grew up there, I sometimes feel like an outsider in America. But in many more regards, I am relieved that I am not an insider in China.
Monday, May 26, 2008
How to rebuild
The topic I am about to write about is a sensitive one - how does a government, and in this case China rebuild an area ravaged by natural disaster? I must emphasize that I will be writing about this topic from the perspective of the government, not from the perspective of any individual who may have suffered through the catastrophe.
The area that has been ravaged by the earthquake in central China in Sichuan, Gansu and Shanxi province are earthquake-prone areas which will inevitably suffer through another one sometime down the road. This area has seismic activity due to the Indian plate colliding with the Eurasian plate. The result of this collision is the Tibetan plateau (and the Himalayan mountain range) of which this area is a part of. The next big earthquake is not a matter of if, but when (although that could be hundreds if not thousands of year away).
The areas that were especially affected are mountainous regions that were relatively heavily populated. It seems in China places that one might not think would be heavily populated actually are. This part of the country has not take part in the economic boom as extensively as the eastern coast of China and is relatively undeveloped due to the tough terrain. The part of the population who are in the prime working years have already migrated to the large cities for better prospects. There is a disproportionate amount of the elderly and children in these areas.
I think the Chinese government is in a tough position because a few of these towns has been completely destroyed. I am sure if you were to ask the citizens of these towns if they want their hometown to be rebuild, the answer would be yes. But as the government who is in charge of the best interest of the entire country as a whole it is difficult to put the kind of resources necessary to an area that is not very productive and prone to earthquakes. Perhaps it would be better to put the resources to relocate the people to safer areas.
Of course I think where and how to rebuild has to be on a case by case basis. This is a complex issue, and I am just suggesting that this is an option rather than the emotional, defiant reaction of rebuilding the area as good as before because an unwillingness to admit defeat.
The area that has been ravaged by the earthquake in central China in Sichuan, Gansu and Shanxi province are earthquake-prone areas which will inevitably suffer through another one sometime down the road. This area has seismic activity due to the Indian plate colliding with the Eurasian plate. The result of this collision is the Tibetan plateau (and the Himalayan mountain range) of which this area is a part of. The next big earthquake is not a matter of if, but when (although that could be hundreds if not thousands of year away).
The areas that were especially affected are mountainous regions that were relatively heavily populated. It seems in China places that one might not think would be heavily populated actually are. This part of the country has not take part in the economic boom as extensively as the eastern coast of China and is relatively undeveloped due to the tough terrain. The part of the population who are in the prime working years have already migrated to the large cities for better prospects. There is a disproportionate amount of the elderly and children in these areas.
I think the Chinese government is in a tough position because a few of these towns has been completely destroyed. I am sure if you were to ask the citizens of these towns if they want their hometown to be rebuild, the answer would be yes. But as the government who is in charge of the best interest of the entire country as a whole it is difficult to put the kind of resources necessary to an area that is not very productive and prone to earthquakes. Perhaps it would be better to put the resources to relocate the people to safer areas.
Of course I think where and how to rebuild has to be on a case by case basis. This is a complex issue, and I am just suggesting that this is an option rather than the emotional, defiant reaction of rebuilding the area as good as before because an unwillingness to admit defeat.
Monday, May 19, 2008
Chinese solidarity
When a nation suffers through a tragedy, national unity usually follows. This is what is going on in China. Scenes of unspeakable tragedies are being transmitted into people's home via various medium. Massive outpouring of sympathy has been showered upon the citizens of the earthquake affected areas in China.
Today there was a 3 minute moment of silence throughout the country on the 1 week anniversary of the earthquake at 2:28PM. Anybody in control of a horn were encouraged to use it during this 3 minute period. Cars stopped on the streets, people stopped what they were doing, trains stopped running. For 3 minutes sounds of car horns and air raid sirens were ubiquitous. I guess it had the affect of a country wailing.
I don't think I have observed people in China so emotional about any other subject before. I observed and felt a similar experience on 9/11/2001. I think human beings are all the same everywhere. We all may have different ways of doing things but ultimately people want the same things out of life and when certain things happen to take that away, we react in the same way.
Today there was a 3 minute moment of silence throughout the country on the 1 week anniversary of the earthquake at 2:28PM. Anybody in control of a horn were encouraged to use it during this 3 minute period. Cars stopped on the streets, people stopped what they were doing, trains stopped running. For 3 minutes sounds of car horns and air raid sirens were ubiquitous. I guess it had the affect of a country wailing.
I don't think I have observed people in China so emotional about any other subject before. I observed and felt a similar experience on 9/11/2001. I think human beings are all the same everywhere. We all may have different ways of doing things but ultimately people want the same things out of life and when certain things happen to take that away, we react in the same way.
Thursday, May 15, 2008
Earthquake update
The situation in the Sichuan and Gansu province is growing more grim. The primary earthquake and the numerous aftershocks have cause massive damage to many parts of the region especially the towns in the mountains which were close to the epicenter. There were many towns that were developed in the valleys of this mountainous region. Unfortunately, while the valleys were perfect for habitation during normal time has proven to be a death trap after a massive earthquake. Roads leading into the towns have been blocked by landslides and much of the stones that were jarred loose from the earthquake have dropped into these valleys. These factors have exacerbated the initial problems of the earthquake. The people who were not killed during the initial quake are now either buried but alive or free but injured. Rescuers are having a very tough time getting into these towns and the equipment necessary to dig out the buried are even tougher to get into these areas. So far over 20,000 are confirmed dead with another 30,000 buried or unaccounted for. The death rate is sure to be higher than 20,000.
This is the latest in a series of unfortunate events in China during 2008, the Olympic year:
1. The collapse of the stock market. Even though the market has recovered a bit lately after some government action it is still 40% below its high.
2. The Tibetan uprising and the subsequent world-wide protests including the embarrassing reception (or lack thereof) of the Olympic torch.
3. The snowstorm of the century affecting much of the country including areas in the south which were severely ill-equipped to handle it.
4. The highest inflation rates in many years (over 8%). This was exacerbated by the snowstorm which disrupted much of the food production in China for a good period of time.
5. The outbreak of the Hand, Foot and Mouth disease which has killed over 30 children. While the casualties have been low, this is an embarrassment for the government since the outbreak was covered up by local officials in the area where the outbreak initially occurred. This is especially embarrassing since the country will be welcoming thousands of people from around the world for the Olympics.
6. There was a suspicious bombing of a bus in Shanghai.
7. The biggest earthquake to hit China in a populated area in over 30 years and casualties will be well into 5 figures.
Some of these problems were just tragic events that no government could prepare for but some were problems that the country created.
Lets just hope the rest of the year will turn out better. I also hope China learns from their mistakes and emerge stronger and better equipped to handle problems faced by a world superpower.
This is the latest in a series of unfortunate events in China during 2008, the Olympic year:
1. The collapse of the stock market. Even though the market has recovered a bit lately after some government action it is still 40% below its high.
2. The Tibetan uprising and the subsequent world-wide protests including the embarrassing reception (or lack thereof) of the Olympic torch.
3. The snowstorm of the century affecting much of the country including areas in the south which were severely ill-equipped to handle it.
4. The highest inflation rates in many years (over 8%). This was exacerbated by the snowstorm which disrupted much of the food production in China for a good period of time.
5. The outbreak of the Hand, Foot and Mouth disease which has killed over 30 children. While the casualties have been low, this is an embarrassment for the government since the outbreak was covered up by local officials in the area where the outbreak initially occurred. This is especially embarrassing since the country will be welcoming thousands of people from around the world for the Olympics.
6. There was a suspicious bombing of a bus in Shanghai.
7. The biggest earthquake to hit China in a populated area in over 30 years and casualties will be well into 5 figures.
Some of these problems were just tragic events that no government could prepare for but some were problems that the country created.
Lets just hope the rest of the year will turn out better. I also hope China learns from their mistakes and emerge stronger and better equipped to handle problems faced by a world superpower.
Monday, May 12, 2008
earthquake in Wenchuan
Yesterday, 5/12 a powerful earthquake registering 7.9 on the Richter scale struck the town of Wenchuan. This is 55 miles away from Chengdu, the hub of western China with a population of 12 million. The earthquake inflicted massive damage to the region with estimates of 10,000 casualties thus far. That figure could go much higher. Chengdu city itself was spared of major damage. Had the epicenter of an earthquake of that magnitude occurred in Chengdu the casualties would be exponentially higher.
The effects of this earthquake was even felt by Shanghai residents. I work in a building of only 2 floors so I did not feel the tremors at all. However many office workers who work in skyscrapers felt the effects and many of them emptied out onto the streets in the late afternoon. I was out of the office in transit to a meeting and I saw many people milling around the plazas of office buildings.
There was basically no damage to the Shanghai as it is 1100 miles away from the epicenter the equivalent of the distance between New York and New Orleans.
I think it is safe to say that the planet has its own way of taking control.
The effects of this earthquake was even felt by Shanghai residents. I work in a building of only 2 floors so I did not feel the tremors at all. However many office workers who work in skyscrapers felt the effects and many of them emptied out onto the streets in the late afternoon. I was out of the office in transit to a meeting and I saw many people milling around the plazas of office buildings.
There was basically no damage to the Shanghai as it is 1100 miles away from the epicenter the equivalent of the distance between New York and New Orleans.
I think it is safe to say that the planet has its own way of taking control.
Saturday, May 10, 2008
Sean Bell and Guns
During my trip back to the NY, the biggest news item to come out of the city was the Sean Bell trial. Since I have been away from the city for two years now, I had to read up on the story to find out what had happened.
It seems like a typical American police tragedy. Bell, an African-American attended a bachelor party at a strip club and got into an argument. He then proceeded to leave the strip club and said he was going to get his gun to resolve the dispute. Undercover police were at the strip club to look for prostitution activities which was unrelated to Bell's party. Bell got into his car and drove away where it crashed into the undercover police car. The police who overheard Bell's threat proceeded to shoot Bell over 50 times, Bell dies at the scene but was found to be unarmed. The trial concluded last week and found the 3 officers doing the shooting to be not guilty. The African-American community is up in arms and is calling this a racial issue. The media coverage of this events focuses on the race issue.
What the media and the government does not address is the more important issue - guns. Yes, guns don't kill people, people kill people. While that statement is true, what is missing is that guns make it extremely easy for people to kill people and very often people are not in the right state of mind when the gun is used. Once a life is taken, it will never return so there is a finality that should not be reached especially in the heat of the moment.
Should 3 police officers have take over 50 shots at an unarmed man? Absolutely not. There is an environment in America where guns are everywhere. Americans have by far the highest gun ownership rates in the world (http://www.mibazaar.com/gunownership.html) This breeds a very tense environment.
Therefore if the police officers operate in an environment where they potentially encounter citizens with guns it is understandable how they could be quick with the trigger. Especially when they have already overheard a person say that he is getting his gun to settle a dispute. If somebody has a gun in his hand and believes that they are facing somebody who is also armed, don't you think it is possible that they will shoot first and ask questions later? He certainly does not want to be killed by the other person.
Is it possible that these police officers were incompetent to be working the beat? Absolutely. If people put themselves in that position, I am sure that many would have reacted the same way that these officers reacted regardless of their race. Does that mean that these officers should not be disciplined? Absolutely not. These officers should probably be off the street and be working behind a desk, but I don't think they deserve to go to jail. These officer are doing work that most of us would not be willing to do. The problem for them is that if they make a mistake at their job lives could be lost. How is that for accountability? How many of us want to take on that kind of responsibility? The action of these officers is a symptom of the gun culture/problem in America.
Growing up in the US, I was not aware that the gun environment is not the same throughout the world. One of my former co-workers who is from England told one day that he was shocked at how heavily armed the New York City police officers were - that they carry guns. I thought at the time it was a strange question, thinking to myself "don't all law enforcement personnel carry guns?" He informs me that the police in England just carry sticks and they don't carry guns. Judging by the murder rates in England compared to the US, I say that they don't carry guns because they don't need to.
Here in China, the police also does not carry guns. The police are armed but they are not the personnel who patrol the streets. The guns are back in the police station and when there is a need for them, they will be called upon. Gun ownership and murder rates are extremely low in China.
The NRA and their proponents always say that gun ownership is a right protected by the constitution. The constitution was written over 200 years ago in a very different environment. Do people seriously think that they still need guns to protect themselves? From whom? I think they are protecting themselves from other gun owners. So take the guns out of the hands of all civilians and people would not think they need guns to protect themselves.
It seems like a typical American police tragedy. Bell, an African-American attended a bachelor party at a strip club and got into an argument. He then proceeded to leave the strip club and said he was going to get his gun to resolve the dispute. Undercover police were at the strip club to look for prostitution activities which was unrelated to Bell's party. Bell got into his car and drove away where it crashed into the undercover police car. The police who overheard Bell's threat proceeded to shoot Bell over 50 times, Bell dies at the scene but was found to be unarmed. The trial concluded last week and found the 3 officers doing the shooting to be not guilty. The African-American community is up in arms and is calling this a racial issue. The media coverage of this events focuses on the race issue.
What the media and the government does not address is the more important issue - guns. Yes, guns don't kill people, people kill people. While that statement is true, what is missing is that guns make it extremely easy for people to kill people and very often people are not in the right state of mind when the gun is used. Once a life is taken, it will never return so there is a finality that should not be reached especially in the heat of the moment.
Should 3 police officers have take over 50 shots at an unarmed man? Absolutely not. There is an environment in America where guns are everywhere. Americans have by far the highest gun ownership rates in the world (http://www.mibazaar.com/gunownership.html) This breeds a very tense environment.
Therefore if the police officers operate in an environment where they potentially encounter citizens with guns it is understandable how they could be quick with the trigger. Especially when they have already overheard a person say that he is getting his gun to settle a dispute. If somebody has a gun in his hand and believes that they are facing somebody who is also armed, don't you think it is possible that they will shoot first and ask questions later? He certainly does not want to be killed by the other person.
Is it possible that these police officers were incompetent to be working the beat? Absolutely. If people put themselves in that position, I am sure that many would have reacted the same way that these officers reacted regardless of their race. Does that mean that these officers should not be disciplined? Absolutely not. These officers should probably be off the street and be working behind a desk, but I don't think they deserve to go to jail. These officer are doing work that most of us would not be willing to do. The problem for them is that if they make a mistake at their job lives could be lost. How is that for accountability? How many of us want to take on that kind of responsibility? The action of these officers is a symptom of the gun culture/problem in America.
Growing up in the US, I was not aware that the gun environment is not the same throughout the world. One of my former co-workers who is from England told one day that he was shocked at how heavily armed the New York City police officers were - that they carry guns. I thought at the time it was a strange question, thinking to myself "don't all law enforcement personnel carry guns?" He informs me that the police in England just carry sticks and they don't carry guns. Judging by the murder rates in England compared to the US, I say that they don't carry guns because they don't need to.
Here in China, the police also does not carry guns. The police are armed but they are not the personnel who patrol the streets. The guns are back in the police station and when there is a need for them, they will be called upon. Gun ownership and murder rates are extremely low in China.
The NRA and their proponents always say that gun ownership is a right protected by the constitution. The constitution was written over 200 years ago in a very different environment. Do people seriously think that they still need guns to protect themselves? From whom? I think they are protecting themselves from other gun owners. So take the guns out of the hands of all civilians and people would not think they need guns to protect themselves.
Friday, May 9, 2008
shopping
During our trip back to NY we spent quite a bit of money on shopping. Even though we have been here in China for almost two years, there are still things that we cannot get over here that are available in America.
My wife is a tall woman by Chinese standards (5'8") and with that type of build come large feet. She wears a size 8 and she has a lot of problems finding shoes of that size in China. Usually if there are shoes of that size in a store (that is rare) they are very often only available for one or two styles. Women seem to be inherently addicted to buying shoes and my wife is no exception so this was a very troubling problem for her. She compensated for that by buying herself 4 pairs of shoes during this visit back to the states.
There is another good reason for buying shoes in the US. Even though about 70% of the shoes being sold in the US are made in China the shoes being sold in China is not subject to the quality standard of their trans-pacific counterparts. Shoes that I have purchased in China have felt very thin with very minimal support for my feet. I had to throw out one pair of sneakers because the lack of support caused a pulling sensation on the bottom of my feet when I was wearing them. I am not too picky with how I am dressed but I feel that the comfort of shoes are very important to the well being of a person as the entire weight of a person's body is being supported by them.
Believe it or not, electronics are more expensive in China than they are in the US. This statement is true if you are purchasing electronics that is made outside of China. China has a fairly high tariff on imported items so it is actually better to buy electronics in the US than it is in China unless you want to buy the mediocre stuff that China makes. Of course if you are satisfied with China made electronics then you are all set over here.
Outside of shoes, clothes and a new Nikon DSLR we also purchase some things like salad dressing and cereal. Yes, salad dressing. In China, if you were to go to a restaurant and order a salad the default and only dressing you will get is thousand island. Therefore, I had to get a few bottles of Italian dressing for the days that I need to get a break from the greasy local fare. And of course cereal, have to have my Honey Bunches of Oats that I cannot find over here.
I think to summarize the shopping situation in Shanghai is that if you want to get high quality imported goods you very often might not find them in China and if you do you will be paying a higher price due to the heavy tariffs. But if you are looking for Chinese made goods then you will be in paradise.
My wife is a tall woman by Chinese standards (5'8") and with that type of build come large feet. She wears a size 8 and she has a lot of problems finding shoes of that size in China. Usually if there are shoes of that size in a store (that is rare) they are very often only available for one or two styles. Women seem to be inherently addicted to buying shoes and my wife is no exception so this was a very troubling problem for her. She compensated for that by buying herself 4 pairs of shoes during this visit back to the states.
There is another good reason for buying shoes in the US. Even though about 70% of the shoes being sold in the US are made in China the shoes being sold in China is not subject to the quality standard of their trans-pacific counterparts. Shoes that I have purchased in China have felt very thin with very minimal support for my feet. I had to throw out one pair of sneakers because the lack of support caused a pulling sensation on the bottom of my feet when I was wearing them. I am not too picky with how I am dressed but I feel that the comfort of shoes are very important to the well being of a person as the entire weight of a person's body is being supported by them.
Believe it or not, electronics are more expensive in China than they are in the US. This statement is true if you are purchasing electronics that is made outside of China. China has a fairly high tariff on imported items so it is actually better to buy electronics in the US than it is in China unless you want to buy the mediocre stuff that China makes. Of course if you are satisfied with China made electronics then you are all set over here.
Outside of shoes, clothes and a new Nikon DSLR we also purchase some things like salad dressing and cereal. Yes, salad dressing. In China, if you were to go to a restaurant and order a salad the default and only dressing you will get is thousand island. Therefore, I had to get a few bottles of Italian dressing for the days that I need to get a break from the greasy local fare. And of course cereal, have to have my Honey Bunches of Oats that I cannot find over here.
I think to summarize the shopping situation in Shanghai is that if you want to get high quality imported goods you very often might not find them in China and if you do you will be paying a higher price due to the heavy tariffs. But if you are looking for Chinese made goods then you will be in paradise.
Wednesday, May 7, 2008
I am back!!
Well, its been a long hiatus for me on this blog. I guess it was a combination of being lazy and our two week return to NYC in the past month.
Our trip back to NYC was a hectic one. Its amazing how short two weeks can be when the time are filled with reunions with friends and family. I think I had nearly every lunch and dinner in a restaurant with various friends and family members. I think this is probably the thing that I missed most about living abroad is the companionship of friends and family.
We have made some friends over here in China, but I think once a person reaches a certain point in life it becomes difficult to make real friends. Perhaps there are too many other reasons to be acquaint with someone at this age that might have very little to do with true friendship. Perhaps because at this age, we have the lost the innocence and cannot truly open yourself up to new acquaintances.
In any case, I really enjoyed our time back in NY. There were moments that I thought "it would be nice to come back and live here again" and there were other moments I thought "now I remember why I left in the first place" and other moments I thought "Wow, this is something that I can't get/do in Shanghai" and then there were other moments I thought "Man, I can get/do that in Shanghai but not here".
Well, whatever we do in the future, the one thing that I can always say that NY is my home.
Our trip back to NYC was a hectic one. Its amazing how short two weeks can be when the time are filled with reunions with friends and family. I think I had nearly every lunch and dinner in a restaurant with various friends and family members. I think this is probably the thing that I missed most about living abroad is the companionship of friends and family.
We have made some friends over here in China, but I think once a person reaches a certain point in life it becomes difficult to make real friends. Perhaps there are too many other reasons to be acquaint with someone at this age that might have very little to do with true friendship. Perhaps because at this age, we have the lost the innocence and cannot truly open yourself up to new acquaintances.
In any case, I really enjoyed our time back in NY. There were moments that I thought "it would be nice to come back and live here again" and there were other moments I thought "now I remember why I left in the first place" and other moments I thought "Wow, this is something that I can't get/do in Shanghai" and then there were other moments I thought "Man, I can get/do that in Shanghai but not here".
Well, whatever we do in the future, the one thing that I can always say that NY is my home.
Wednesday, April 9, 2008
Transportation on a long weekend in China
I wrote about our long weekend in Yangzhou in my last post. That was about how we spent our time while we were in Yangzhou. I wanted to dedicate that post to our experience as tourist within the city. What I left out was our experience leading up to the trip and at the tail end of it and that will be the subject of this post.
This Yangzhou trip was hatched only about 3 days prior to the day of the trip. After we made the decision to go, we made the appropriate plans to go. Since we don't own a car here in China (mostly for our own safety) we can either take the extensive network of trains or buses. Here in China the cost of riding the trains is lower than long distance bus. This is probably due to the very high ridership on the railways. The train is a very important mode of transportation because of the affordability over flying
For us the better alternative is the train since it is faster and safer than riding a bus where the driver thinks he is Michael Schumacher. Besides, there are no flights available for such a short distance. We were able to secure train tickets on an express train going to Yangzhou, but all trains coming back to Shanghai were completely sold out. This meant that on the return leg we had to take our chances with the bus. We made our way to the long distance bus station in Yangzhou Sunday morning as we were going to leave for Shanghai that evening. The bus station was packed with travelers buying tickets and this foreshadowed things to come.
We purchased tickets for the 5:20PM bus for Shanghai. We arrived at the bus station that afternoon at around 5:05 and we immediately realized things are different from our previous experiences. The bus depot was more crowded than normal and as we approach the Shanghai departure counter we realized that there was a scrum of people waiting desperately to leave. There was no way to make our way to the counter to even inquire about our 5:20 bus as the wall of people was about 15 deep. We immediately realized that we better make our way past the ticket takers and to the buses outside to see if we can get on our scheduled bus. We went to the Suzhou departure counter which was less crowded. After about 5 minutes of waiting the ticket taker at the Suzhou counter left her post for a brief moment. That was the opportunity that everyone was looking for and a stream of people including us went though the ticket counter to the waiting buses outside. We quickly spotted the bus to Shanghai and frantically boarded the bus to Shanghai. The driver who was taking the ticket did not even bother check our tickets to see if we were boarding the right bus to Shanghai.
After we boarded and had time to reflect, I began to realized what has happened. Basically the bus depot was not able to control the large crowd in the bus station. The mentality of the riders when encountered with this kind of situation is to make sure they are able to get on a bus and not get stranded in case buses got overbooked. This created a situation where the crowd became agitated and eventually the authorities lost control of the crowd. I wondered how long we would have had to wait if it wasn't for a ticket taker at a different departure counter leaving her post for a moment. This was a potentially dangerous situation, which I am sure has been replayed in China many times as there isn't an adequate infrastructure to handle the large population of China.
This is a period in China's history where a burgeoning middle class have leisure time. This creates a strain on its infrastructure especially during holiday weekends and holiday weeks (yes holiday week imagine the horror of that).
These are the kind of experiences that makes me think twice about living in China permanently. There are many benefits that I enjoy from living here in China over America, but there are also many difficulties where there is nothing one can do.
This Yangzhou trip was hatched only about 3 days prior to the day of the trip. After we made the decision to go, we made the appropriate plans to go. Since we don't own a car here in China (mostly for our own safety) we can either take the extensive network of trains or buses. Here in China the cost of riding the trains is lower than long distance bus. This is probably due to the very high ridership on the railways. The train is a very important mode of transportation because of the affordability over flying
For us the better alternative is the train since it is faster and safer than riding a bus where the driver thinks he is Michael Schumacher. Besides, there are no flights available for such a short distance. We were able to secure train tickets on an express train going to Yangzhou, but all trains coming back to Shanghai were completely sold out. This meant that on the return leg we had to take our chances with the bus. We made our way to the long distance bus station in Yangzhou Sunday morning as we were going to leave for Shanghai that evening. The bus station was packed with travelers buying tickets and this foreshadowed things to come.
We purchased tickets for the 5:20PM bus for Shanghai. We arrived at the bus station that afternoon at around 5:05 and we immediately realized things are different from our previous experiences. The bus depot was more crowded than normal and as we approach the Shanghai departure counter we realized that there was a scrum of people waiting desperately to leave. There was no way to make our way to the counter to even inquire about our 5:20 bus as the wall of people was about 15 deep. We immediately realized that we better make our way past the ticket takers and to the buses outside to see if we can get on our scheduled bus. We went to the Suzhou departure counter which was less crowded. After about 5 minutes of waiting the ticket taker at the Suzhou counter left her post for a brief moment. That was the opportunity that everyone was looking for and a stream of people including us went though the ticket counter to the waiting buses outside. We quickly spotted the bus to Shanghai and frantically boarded the bus to Shanghai. The driver who was taking the ticket did not even bother check our tickets to see if we were boarding the right bus to Shanghai.
After we boarded and had time to reflect, I began to realized what has happened. Basically the bus depot was not able to control the large crowd in the bus station. The mentality of the riders when encountered with this kind of situation is to make sure they are able to get on a bus and not get stranded in case buses got overbooked. This created a situation where the crowd became agitated and eventually the authorities lost control of the crowd. I wondered how long we would have had to wait if it wasn't for a ticket taker at a different departure counter leaving her post for a moment. This was a potentially dangerous situation, which I am sure has been replayed in China many times as there isn't an adequate infrastructure to handle the large population of China.
This is a period in China's history where a burgeoning middle class have leisure time. This creates a strain on its infrastructure especially during holiday weekends and holiday weeks (yes holiday week imagine the horror of that).
These are the kind of experiences that makes me think twice about living in China permanently. There are many benefits that I enjoy from living here in China over America, but there are also many difficulties where there is nothing one can do.
Monday, April 7, 2008
Yangzhou weekend
No that is not me.
This past weekend was a 3 day weekend. Last Friday was the Qingming holiday or 清明节 in Chinese. This is traditionally the day were one "sweeps the tomb" in remembrance of deceased family members. This sounds like a solemn day, but now in modern times the Chinese have turn this into a day to enjoy oneself after the duty of tidying up the tomb has been completed.
Since neither me or my wife has any deceased close family members entombed in China, we chose to spend the 3 day weekend in Yangzhou, an old city in nearby Jiangsu Province. The trip to Yangzhou from Shanghai ranges from 2 1/2 to 4 hours depending on the mode of transportation. The travails of our conveyance will be covered in an upcoming blog.
The main attraction of Yangzhou is the Slender West Lake (瘦西湖). It borrows the name from the more famous West Lake (西湖) in Hangzhou. Calling this a lake is a bit of a misnomer since it reminds one of a river or stream than a lake or pond as hinted in its name. The site itself is quite scenic with a winding body of water and its numerous bridges. If one had time to stop, reflect and enjoy the scenery this could be a very pleasant place to visit. However, this is one of a few long weekends on the Chinese calendar so the place was swarmed with people, many from Shanghai. Therefore, I could not really described this experience as pleasant.
One of the other things that we noticed about Yangzhou is that since it is located along the Grand Canal of China (of which Slender West Lake is a part of) there were many small canal within the city. There was a charm to the city that does not exist in Shanghai.
The city has an interesting dining experience that is similar to the dimsum experience in Cantonese cuisine. The Yangzhou people have a tradition of the weekend brunch just like the Cantonese. The food at these events however, pale in comparison with the dizzying array of delicate and delicious food at a Cantonese dimsum. Not to say that the food at a Yangzhou brunch is not good, as a matter of fact the food is pretty good. It primarily consists of steam buns filled with various fillings, wontons, steamed tofu slivers in a crab based broth and the crab soup buns. The crab soup buns are very interesting as it consists of no meat, just crab broth. One uses a straw to draw the soup from the bun before eating the floury skin otherwise the soup will be spilled all over your plate and table.
I found the city to be a nice mix of old and new with a pleasant backdrop of water and greenery.
Thursday, March 27, 2008
Mock people's daily
Here is an interesting story about a mock People's Daily:
http://time-blog.com/china_blog/2008/03/_here_is_a_mock.html
http://time-blog.com/china_blog/2008/03/_here_is_a_mock.html
Tuesday, March 18, 2008
Rumblings out of Tibet
As another historic event is unfolding in China I again find myself in a situation where I am able to see things from a perspective that I never had before.
Last week, Tibetans commemorated the uprising of the Tibetan people against the Chinese 49 years ago. As evident by the fact that Tibet is currently part of China that uprising was not successful. It lead the the exile of their political and spiritual leader the Dalai Lama to India.
As this is an Olympic year, the Tibetans took the opportunity of a government compromised by its image to the world right before their big showcase event to boldly protest against the oppression that they have suffered over the years. The protest was initially peaceful, but turn violent when Chinese police began to beat some of the monks who were protesting in Lhasa. This lead to a groundswell of violence throughout the Tibetan community in other parts of China against the police and the Han Chinese majority. This is the basic picture that is being portrayed from the Western media outlets that I am able to access through the cracks in the Great Firewall of China.
Many, but not all stories about this incident from the foreign website are blocked on the internet over here. Youtube has now been blocked completely as well. The coverage in the Chinese media expectedly differs from the West. Their version is basically this: the Tibetans have resorted to violence in order to gain independence from China. This violence has led to death of many innocent Han Chinese people and the Police has shown restraint in handling this uprising.
How does one reconcile the difference in these two versions of the same story? While I know that the Chinese media is reporting primarily government propaganda, I will also say that the coverage by the western media is probably slightly biased towards Tibet as well. The Chinese have earned a bad reputation around the world for their lack of human rights. The perception of Tibetans is one of peace loving peoples who have shunned the world of materialism. These two perceptions gives the Chinese no chance in the coverage of this story.
My personal opinion of this situation has been shaped by the western media over the years. As I now reside in China, I now see a different angle to this issue. Whereas the Chinese have certainly earned their reputation over the years for their hard-line policies, I definitely feel the western media portrays of the Tibetans in a sympathetic light. No matter how one feels about how the territory was take in the first place, Tibet is currently part of China. If there are movements for independence there is a need for the government to do something about it before it begins to fracture the country. I think there are certainly more that the Chinese government can do about this but I think for the entire western world to come down against China before things have taken its course is a bit unfair.
It is hard to one to judge another unless they have been in their shoes.
Last week, Tibetans commemorated the uprising of the Tibetan people against the Chinese 49 years ago. As evident by the fact that Tibet is currently part of China that uprising was not successful. It lead the the exile of their political and spiritual leader the Dalai Lama to India.
As this is an Olympic year, the Tibetans took the opportunity of a government compromised by its image to the world right before their big showcase event to boldly protest against the oppression that they have suffered over the years. The protest was initially peaceful, but turn violent when Chinese police began to beat some of the monks who were protesting in Lhasa. This lead to a groundswell of violence throughout the Tibetan community in other parts of China against the police and the Han Chinese majority. This is the basic picture that is being portrayed from the Western media outlets that I am able to access through the cracks in the Great Firewall of China.
Many, but not all stories about this incident from the foreign website are blocked on the internet over here. Youtube has now been blocked completely as well. The coverage in the Chinese media expectedly differs from the West. Their version is basically this: the Tibetans have resorted to violence in order to gain independence from China. This violence has led to death of many innocent Han Chinese people and the Police has shown restraint in handling this uprising.
How does one reconcile the difference in these two versions of the same story? While I know that the Chinese media is reporting primarily government propaganda, I will also say that the coverage by the western media is probably slightly biased towards Tibet as well. The Chinese have earned a bad reputation around the world for their lack of human rights. The perception of Tibetans is one of peace loving peoples who have shunned the world of materialism. These two perceptions gives the Chinese no chance in the coverage of this story.
My personal opinion of this situation has been shaped by the western media over the years. As I now reside in China, I now see a different angle to this issue. Whereas the Chinese have certainly earned their reputation over the years for their hard-line policies, I definitely feel the western media portrays of the Tibetans in a sympathetic light. No matter how one feels about how the territory was take in the first place, Tibet is currently part of China. If there are movements for independence there is a need for the government to do something about it before it begins to fracture the country. I think there are certainly more that the Chinese government can do about this but I think for the entire western world to come down against China before things have taken its course is a bit unfair.
It is hard to one to judge another unless they have been in their shoes.
Thursday, March 13, 2008
air out of the bubble
It appears that bubbles of all sorts around the world are in the process of deflating. China's stock market, probably the biggest bubble of all is doing its part. On 10/16/07, the Shanghai Index stood at 6092 and it represented its peak. For perspective, the index stood at 1161 on 1/1/06. Today, the index finished the day at 3971, a 35% correction so far. Even after this correction the PE of the index is still around 40 which indicates there is still ways to go. The scarier proposition is that if an Enron can occur in the US with its matured capital markets, imagine the veracity of the data in an emerging, unregulated market like China; the real PE could be much higher.
Another bubble - real estate seems to be taking a breather as well. Sales volume in Shanghai on residential real estate have been declining for the past 4 months and the prices have become stagnant. As we see in the US real estate market, it takes a period of declining demand for the prices to eventually follow. We may be at the precipice of the deflation of the real estate bubble here in Shanghai.
The amount of investment that has been poured into China in recent years have really created a possibility that the entire Chinese economy is a bubble. Time will tell whether this is true.
The Chinese people here have all been saying that they believe that the economy will be strong leading up to the Olympics and they are cautious about the post-Olympic days. It looks like this might become a self-fulfilling prophecy.
Another bubble - real estate seems to be taking a breather as well. Sales volume in Shanghai on residential real estate have been declining for the past 4 months and the prices have become stagnant. As we see in the US real estate market, it takes a period of declining demand for the prices to eventually follow. We may be at the precipice of the deflation of the real estate bubble here in Shanghai.
The amount of investment that has been poured into China in recent years have really created a possibility that the entire Chinese economy is a bubble. Time will tell whether this is true.
The Chinese people here have all been saying that they believe that the economy will be strong leading up to the Olympics and they are cautious about the post-Olympic days. It looks like this might become a self-fulfilling prophecy.
Sunday, February 24, 2008
Re-exploring Shanghai
Last weekend, one of my close friends Siu came to visit us in Shanghai from New York. It was one of those weekends of exploring Shanghai that I have not done in a while.
We have now lived in Shanghai for nearly 2 years and we have settled into our routines. So it has been a while since we have had a chance to explore the city that we are still newcomers to. We took Siu to some of the typical tourist areas such as Yu Yuan and Jin Mao Tower in Pudong. Since Siu was originally from Hong Kong he wanted to see some of the underbelly of Shanghai that a typical first time visitors to Shanghai might not be interested in seeing.
We took him to the Shanghai old street near Yu Yuan for some local fare. This is not an area where you will find tourists eating local food; this is where the locals, if not the newly minted Shanghai residents from other parts of China would eat. Here are some pictures:
The food stalls in these pictures are serving food from various parts of China and it reminded me that Shanghai has its parallels to New York in its diversity. Its just that in New York the diversity is on a global scale while in Shanghai the universe is within China. This also indicates that the influx of people from other parts of China has accelerated in recent times.
We also had a chance to visit an area called Taikang Lu. This is an area where the traditional houses in Shanghai known as Shikumen are still around. For a basic explanation of Shikumen please refer to this link:
http://www.answers.com/topic/shikumen?cat=travel
Taikang Lu is an area which has become a marriage of the old and new. Shikumen are traditional housing compounds for the local Shanghainese. On Taikang Lu, Shikumen are now being renovated to house cafes, bistros and small art galleries. It has a bit of a feel of Soho with a Chinese backdrop. The last time that I visited this area about a year ago there were only a few shops and galleries open, but now it has become a bustling area that caters to the expats and the younger generation of local Chinese.
I had a very good time showing Siu around Shanghai. It was especially interesting since Siu grew up in Hong Kong before moving to New York so there was a sense that he could relate and understand what we were showing him.
We have now lived in Shanghai for nearly 2 years and we have settled into our routines. So it has been a while since we have had a chance to explore the city that we are still newcomers to. We took Siu to some of the typical tourist areas such as Yu Yuan and Jin Mao Tower in Pudong. Since Siu was originally from Hong Kong he wanted to see some of the underbelly of Shanghai that a typical first time visitors to Shanghai might not be interested in seeing.
We took him to the Shanghai old street near Yu Yuan for some local fare. This is not an area where you will find tourists eating local food; this is where the locals, if not the newly minted Shanghai residents from other parts of China would eat. Here are some pictures:
The food stalls in these pictures are serving food from various parts of China and it reminded me that Shanghai has its parallels to New York in its diversity. Its just that in New York the diversity is on a global scale while in Shanghai the universe is within China. This also indicates that the influx of people from other parts of China has accelerated in recent times.
We also had a chance to visit an area called Taikang Lu. This is an area where the traditional houses in Shanghai known as Shikumen are still around. For a basic explanation of Shikumen please refer to this link:
http://www.answers.com/topic/shikumen?cat=travel
Taikang Lu is an area which has become a marriage of the old and new. Shikumen are traditional housing compounds for the local Shanghainese. On Taikang Lu, Shikumen are now being renovated to house cafes, bistros and small art galleries. It has a bit of a feel of Soho with a Chinese backdrop. The last time that I visited this area about a year ago there were only a few shops and galleries open, but now it has become a bustling area that caters to the expats and the younger generation of local Chinese.
I had a very good time showing Siu around Shanghai. It was especially interesting since Siu grew up in Hong Kong before moving to New York so there was a sense that he could relate and understand what we were showing him.
Friday, February 1, 2008
Snow in Shanghai
This has been one of the most difficult week for inclement weather in China. In Shanghai, they recorded their heaviest snow in a long time. The snowfall totaled about 2-5 inches earlier in the week and it is snowing today and will tomorrow. These snowfall total is a bit of a joke for a New Yorker, but for a city that rarely experiences snow this created quite a bit of havoc. This city is totally ill-equipped for snow. There are no plows nor salt spreaders one would see everywhere in New York during a snowstorm. The snow was removed for the most part by manual power.
The airports were closed for a day earlier in the week with this snowstorm. I guess the airports are not equipped with snow plows either.
For us we are looking forward to leaving this wintry mess during the Chinese New Year period for Cambodia. Hopefully, the snow that is falling as I am writing this entry will subside in time for me to take that flight to Cambodia. I will update the blog with our experiences in Cambodia.
Tuesday, January 29, 2008
Chinese New Year
This year, Chinese New Year will fall on 2/7/08 which is next Thursday. This holiday period is by far the most important holiday period on the Chinese calendar. There is really nothing comparable on the American calendar. It is something along the lines of a combination of Christmas, Thanksgiving and the 4th of July.
As China's economic engines have shifted to the large coastal cities in the east, numerous migrant workers live and work there. Chinese New Year period will mean that many of these migrant workers will be traveling back to their hometowns and villages. This period of time will see the severe usage of China's infrastructure. Train and bus stations are jammed packed with people weeks in advance trying to purchase tickets for that time period. This is exacerbated by the fact that these tickets are only available at the train stations and not over the internet. There are stories where trains are so packed with people that ones who must endure long train journeys have resorted to wearing adult diapers because there is no way for them to get past the crush of people to the toilets.
This is the only time of the year for these migrant workers to make it back home to see their family and friends. It is a time where gifts are expected from these returning workers. These workers represent the best of these far-flung villages, the ones who are capable enough to land jobs in the urban areas from the menial to the white-collared. It is a time where petty crime in the cities will rise leading up to the holidays from the migrant workers who did not do so well for the year but need to live up to their family's financial expectations when they return home.
On the positive side, this is a time where people reunite with their family and friends to catch up on each other's lives.
It is funny how many of the sentiments felt at this time of the year by the Chinese is so similar to the ones felt in the US during their most important holiday season.
As China's economic engines have shifted to the large coastal cities in the east, numerous migrant workers live and work there. Chinese New Year period will mean that many of these migrant workers will be traveling back to their hometowns and villages. This period of time will see the severe usage of China's infrastructure. Train and bus stations are jammed packed with people weeks in advance trying to purchase tickets for that time period. This is exacerbated by the fact that these tickets are only available at the train stations and not over the internet. There are stories where trains are so packed with people that ones who must endure long train journeys have resorted to wearing adult diapers because there is no way for them to get past the crush of people to the toilets.
This is the only time of the year for these migrant workers to make it back home to see their family and friends. It is a time where gifts are expected from these returning workers. These workers represent the best of these far-flung villages, the ones who are capable enough to land jobs in the urban areas from the menial to the white-collared. It is a time where petty crime in the cities will rise leading up to the holidays from the migrant workers who did not do so well for the year but need to live up to their family's financial expectations when they return home.
On the positive side, this is a time where people reunite with their family and friends to catch up on each other's lives.
It is funny how many of the sentiments felt at this time of the year by the Chinese is so similar to the ones felt in the US during their most important holiday season.
Monday, January 21, 2008
Bubble
Anybody who has been reading the business sections of their favorite publication will undoubtedly know that the US economy has faltered and is in danger of falling into a recession. The reason is pretty basic; there has been a housing bubble which has led to an excess of liquidity in the economy. This excess liquidity has spurred consumption and investment which has overheated the economy. This impending recession is just a normal process where things return to where it should be. The stock market has reacted and I believe that things may turn painful for a year or two but it should be nothing that we cannot recover from.
The interesting part from my perspective is what will happen here in China. The Chinese investors have felt that their economy has been fairly insulated from the rest of the worlds’ ills. This has led to the unabated climb of their stock and property market. As these markets get hotter and hotter, less sophisticated investors (or should I say speculators) enter the market and raise the temperature further. This process has fed on itself for quite a few years now in China. It started in the property markets about 5 years ago and the stock markets 2 years ago. The prices of these assets have climbed to levels that cannot be justified by conventional measures. While bad news have come out of US banks and investment firms about the subprime losses, the Chinese stock markets have pretty much ignored it. Well, yesterday it has been reported that the Bank of China, the second largest bank in China and by some measures one of the largest in the world may have up to 2 billion in US subprime mortgage losses when they announce earnings. This could represent the first evidence that the Chinese economy is not so insulated from the world economy. I think this could be a big blow to the psychology of the market and lead to a re-evaluation by investors about just how safe their stock market really is. Just like the feeding frenzy that led to the bubble, the same mentality could lead to the panic that results in the crash of two very important markets in the Chinese economy.
The interesting factor in this scenario is the belief held by many investors in China that the Chinese government will somehow make sure that the stock and property markets will be performing well leading up to their coming out party that is this years Summer Olympics in Beijing. This kind of common belief could lead to the self fulfilling prophecy of a large withdrawal of investments out of these markets sometime around the Olympics. How this interplays with the possible global recession will be very interesting.
My interactions with the local Chinese tells me that many people are currently participating in this stock market bubble - mostly unsophisticated investors who think they know how to invest. It is basically the same kind of stories that I heard and saw during the days of the NASDAQ bubble back in the late 90s and early 00s. Its amazing to realize even with such differing cultures we are all the same. What this also tells me is that when this market crashes there will be lots of pain among the people and they really have nobody to blame but themselves.
Of course this is just speculation on my part, but having been through the NASDAQ bubble and the recent housing bubble in the US, I think it would be pretty safe to say that the similar outcome will take place here in China.
The interesting part from my perspective is what will happen here in China. The Chinese investors have felt that their economy has been fairly insulated from the rest of the worlds’ ills. This has led to the unabated climb of their stock and property market. As these markets get hotter and hotter, less sophisticated investors (or should I say speculators) enter the market and raise the temperature further. This process has fed on itself for quite a few years now in China. It started in the property markets about 5 years ago and the stock markets 2 years ago. The prices of these assets have climbed to levels that cannot be justified by conventional measures. While bad news have come out of US banks and investment firms about the subprime losses, the Chinese stock markets have pretty much ignored it. Well, yesterday it has been reported that the Bank of China, the second largest bank in China and by some measures one of the largest in the world may have up to 2 billion in US subprime mortgage losses when they announce earnings. This could represent the first evidence that the Chinese economy is not so insulated from the world economy. I think this could be a big blow to the psychology of the market and lead to a re-evaluation by investors about just how safe their stock market really is. Just like the feeding frenzy that led to the bubble, the same mentality could lead to the panic that results in the crash of two very important markets in the Chinese economy.
The interesting factor in this scenario is the belief held by many investors in China that the Chinese government will somehow make sure that the stock and property markets will be performing well leading up to their coming out party that is this years Summer Olympics in Beijing. This kind of common belief could lead to the self fulfilling prophecy of a large withdrawal of investments out of these markets sometime around the Olympics. How this interplays with the possible global recession will be very interesting.
My interactions with the local Chinese tells me that many people are currently participating in this stock market bubble - mostly unsophisticated investors who think they know how to invest. It is basically the same kind of stories that I heard and saw during the days of the NASDAQ bubble back in the late 90s and early 00s. Its amazing to realize even with such differing cultures we are all the same. What this also tells me is that when this market crashes there will be lots of pain among the people and they really have nobody to blame but themselves.
Of course this is just speculation on my part, but having been through the NASDAQ bubble and the recent housing bubble in the US, I think it would be pretty safe to say that the similar outcome will take place here in China.
Wednesday, January 16, 2008
Street food
I think one of the things that really gives a city an identity is its cuisine. This is something that I always enjoy sampling where ever I go. It can tell you quite a bit about a city.
I think if you really want to know the heart and soul of a city you just need to sample its street food. This is where you get to see the composition of a city. Just like any urban centers anywhere in the world Shanghai has a variety of people residing here. It may not be as diverse than New York City but Shanghai has people from all over China and many parts of the world. You will find international food in proper restaurants but if you want to know about the kind of people who have come to Shanghai from other parts of China just check out their street food.
Here are some pictures of some of the street food that are available here in Shanghai:
Various meat and vegetables on wooden skewers being pan fried over a metal plate. Love that recycled oil!!
This one is a flat bread that is being "baked" in a home made oven. The oven appears to be a commercial metal drum that has been reincarnated.
Another home made oven used to make baked yams.
I think if you really want to know the heart and soul of a city you just need to sample its street food. This is where you get to see the composition of a city. Just like any urban centers anywhere in the world Shanghai has a variety of people residing here. It may not be as diverse than New York City but Shanghai has people from all over China and many parts of the world. You will find international food in proper restaurants but if you want to know about the kind of people who have come to Shanghai from other parts of China just check out their street food.
Here are some pictures of some of the street food that are available here in Shanghai:
Various meat and vegetables on wooden skewers being pan fried over a metal plate. Love that recycled oil!!
This one is a flat bread that is being "baked" in a home made oven. The oven appears to be a commercial metal drum that has been reincarnated.
Another home made oven used to make baked yams.
Saturday, January 5, 2008
Build it and they will come.
The new year ushered in three brand new subway lines consisting of 59 new stations in Shanghai which took approximately 2 years to build. This kind of change sharply contrasts with New York where it takes years to build a few new stations along the E line about 10 years ago.
There are now 9 subway lines in Shanghai. We took one of the lines from end to end. This particular line extends into the suburbs of Shanghai. When we New Yorkers think suburbs, we think of places like Queens or Brooklyn. These are places where it is more residential but still developed. The areas that some of the subway lines here in Shanghai extends to are underdeveloped to even rural areas. This is indicative of how nascent the development of Shanghai is compared to other cities around the world. The downtown areas are as developed now as any big urban centers around the world, but the concept of suburbs is still taking root. With a population of over 15 million, there is a desperate need for a suburban area because the urban areas are so densely populated.
What is happening here reminds me of a PBS documentary that I viewed about the history of New York City. When the subways of New York extended to Brooklyn and Queens, people wonder "Why there? nobody lives there anyway - its all farm land." This is kind of what I saw out of the windows of the elevated number 9 line here in Shanghai. Of course, once the subway is in place commuting from those once isolated areas will become easier thus stimulating development.
The process is continuing at a feverish pace. There are more lines under construction currently and will continue to make transportation more efficient.
In closing, if one has the resources or patience it might not be a bad idea to invest in some property along some of these new subway lines; but that is another conversation.
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