huangjin

Bullish on China After My Recent Visit

The cabby was happy because tipping is not the custom in China.

I think many people have wildly exaggerated ideas of China, either it is a communist pit or uber-capitalist. In terms of business you are right, but if you spend time reading news from China (or live there for an extended period), you will learn that there is a dark side to taking peoples' homes and farms, compensated or not. There is great unrest because government policies favored the coastal areas over the inland. The young people you met probably live in the cities and want to get rich, but the young people in the west and countryside are like illegal immigrants in their own country because they cannot get permits to work legally in the cities. Also, in Shanghai and Xiamen, residents have successfully blocked development and their power is growing.

Although I think it's far less rosy than your impression (take a look at the balance sheets of state banks), the Chinese will overcome whatever obstacles are in their way, be it economic or political, because they want to succeed. They have the attitude that America had 100 years ago.

Five Most Interesting Asian ETF and Indexing Stories Currently Playing Out

I've never seen anything but technical analysis on Chinese television and in Chinese newspapers, although one can find plenty of books on or by people like Buffett and Lynch.