Nothing is new here. The same script was used in Chinese society when the KMT was running the country, and before than the Manchus and before that the Ming dynasty etc., People should be very vigilant against an overboard optimism of this giant country.
Excerpts from a WSJ article I just read.
Most of that extra wealth lies with the already-rich, widening income inequality beyond that suggested by official figures. This crowd is often supplementing its earnings with 'gray' income which can include kickbacks, bribes and the like.
and more...
Behind this official underestimate of Chinese household wealth lies what Wang terms 'gray' income, such as government and party officials receiving outsize cash gifts when their offspring marry, or benefiting from a bit of insider trading in the property market, or receiving under-the-table payments in return for favorable treatment. Such items contributed to total hidden income in 2008 of nearly $1.4 trillion, equivalent to roughly 30% of China's GDP.
Wednesday, August 11, 2010
Lessons from Toyota
Toyota was right after all. Unintended acceleration was never their fault. They must be feeling so wronged now. What a terrible run of bad luck. The lesson to take away is that as our systems get increasingly complex, we must always develop a way to explain it simply and correctly. Many of us think just because we are educated and have at least a college degree, we have the knowledge and experience to judge? These people haven't been humbled by the financial markets yet. Truth is, we know nothing when what we know is compared to what we do not yet know. These days, life has the habit of thrusting into our face, what we do not know.
Escape from Dubai
I thought this escapee from Dubai didn't followed up with a book as he had promised. I am glad he did but disappointed that the book isn't available in our libraries or in Kindle.
Having lived there for several months and watching them, I think Dubai deserves some of these bad publicity it is getting. It had been a master at painting a glamorous, liberal and irresistible picture of itself, but the reality could not be further from the truth. You know it when you live there.
Having lived there for several months and watching them, I think Dubai deserves some of these bad publicity it is getting. It had been a master at painting a glamorous, liberal and irresistible picture of itself, but the reality could not be further from the truth. You know it when you live there.
http://www.amazon.com/dp/0929915941/ref=...
Bluetooth problems
Wonder if my Notebook Bluetooth radio has gone kaput. Windows report that it is functioning but it failed to connect to the Bluetooth mouse and my Nokia phone. I deleted both devices and tried to pair them again but to no avail. Will investigate this further later.
Recently has been getting unnecessary computer problems (aren't they always unnecessary?). IwiSoft came back with an inane suggestion of what might cause the SWF to video converter not to work. After my detailed explanation, I haven't heard back from them. I wonder if the problem had to do with changes to some dynamic linked libraries the software uses but with the various OS updates, it has changed.
Recently has been getting unnecessary computer problems (aren't they always unnecessary?). IwiSoft came back with an inane suggestion of what might cause the SWF to video converter not to work. After my detailed explanation, I haven't heard back from them. I wonder if the problem had to do with changes to some dynamic linked libraries the software uses but with the various OS updates, it has changed.
Tuesday, August 10, 2010
Singapore's strategy
Singapore strategy is very simple. Go for economic growth at all cost because that fuels everything in the dictum that although money is not everything, everything is money. Next we will not compromise on national security given our vulnerabilities of not just a small state but one of the smallest in the world. Besides our neighborhood always has the potential to change suddenly. After these twin objectives are satisfied, the rest of the priorities are then optimally allocated along priorities that are not always clear and often quietly changing. Investors do not mind as long as their business interests are protected, and they are very well given economic growth is numero uno.
So what is in for citizens? That hopefully the government would always have a package of sweet and bitter fruits such that you will return them to power. From here we get the disconnect that what is good for Singapore is frequently not good for its citizens. Anyway nobody discuss, much less define and agree what is good for the people. As I said earlier, "priorities are not always clear and often quietly changing" Those who aren't happy, they have quietly make plans and left.
So is there an alternative to this arrangement? Not in the past when we were very vulnerable and fragile, but as we become wealthier, better educated and more resourceful, alternatives should be possible.
How long can the current strategy last? It is quite easy to tell. When voters no longer buy into it, and hopefully when alternatives are floated and can be chosen. If they vote in protest, that is not good for anyone.
At this point, it is not clear what some of these alternative strategies might be.
So what is in for citizens? That hopefully the government would always have a package of sweet and bitter fruits such that you will return them to power. From here we get the disconnect that what is good for Singapore is frequently not good for its citizens. Anyway nobody discuss, much less define and agree what is good for the people. As I said earlier, "priorities are not always clear and often quietly changing" Those who aren't happy, they have quietly make plans and left.
So is there an alternative to this arrangement? Not in the past when we were very vulnerable and fragile, but as we become wealthier, better educated and more resourceful, alternatives should be possible.
How long can the current strategy last? It is quite easy to tell. When voters no longer buy into it, and hopefully when alternatives are floated and can be chosen. If they vote in protest, that is not good for anyone.
At this point, it is not clear what some of these alternative strategies might be.
It's the incentives, not the market which decides.
I quote a paragraph from the WSJ today on China's not too successful attempts to build low cost housing.
Local governments prefer to sell land to developers for middle-to-high-end apartment construction, as this pulls in more revenue for them. Private developers prefer it this way, too, as they can usually achieve better margins by selling apartments for the top end of the market.
Again and again, it is the incentives and not the market which decides. It was childishly naive to not expect the wealth gap not to narrow everywhere. I have always been skeptical of this. I recall how dismayed I was when they repealed the Glass-Steagal Act in the US.
Local governments prefer to sell land to developers for middle-to-high-end apartment construction, as this pulls in more revenue for them. Private developers prefer it this way, too, as they can usually achieve better margins by selling apartments for the top end of the market.
Again and again, it is the incentives and not the market which decides. It was childishly naive to not expect the wealth gap not to narrow everywhere. I have always been skeptical of this. I recall how dismayed I was when they repealed the Glass-Steagal Act in the US.
Wheelchair
Just came upstairs from handing the wheelchair to a relative. How I wished it had gone to Charity because we don't need it for ourselves. I hope the young lady that would be using this chair would eventually recover from this very rare form of stroke. I saw her elder sister briefly. She looked so sad.
Subscribe to:
Posts (Atom)