The buisness of China

For the business person.

I have been reading the China Business daily every morning. It is the national paper of China and they print an English version. The interesting part is that they are starting to have the same issues in China that face us in America. In the last 3 papers they have discussed drug bust, over weight children, and suicide. The social issues are growing as prosperity comes to the masses. It does show that free market system does work and is working over here for financial good.

It is a unique system in which the government still owns a large portion of the companies, but they allow free market as well. Someone used the term hybrid approach to communism.

The have many private business owners and they are getting wealthy. The banks are all starting service for the wealthy when the account balances reach 5 million Yuan, which is 1.2 million US dollars. There is also a new upscale private jet airline that is over booked. Cars are everywhere, but are very expensive. We were riding around in a Mitsubishi SUV. In the states I would think it would cost around 40,000.00 and in China it is 80,000 American dollars.

Another article I read was the theft of electrical wire from buildings. They are having the same issue with money being paid for scrap copper as we are in America. They are trying to increase the penalties for the crime.

The one major difference is that there are stories everyday of someone being removed from a leader ship position for not doing something the communist way, or using money in a wrong way. There is not share holders meeting, the government just demotes them.

I guess enough of the boring stuff.

Chris