60条金牛2
(2009-10-03 11:21:44)
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杂谈 |
- MOBILITY – Thanks to new regulations, Chinese people are free to move around internally and internationally. Domestic travel in particular is booming. Increased mobility = increased productivity.
- "TRADE WARS" - are not an issue. With exports down, China is not looking to pick any fights. And the US is far too busy with health care reform, Iraq/Afganistan, and now Iran to be escalating any trade issues with China. The US also does not want to rock the boat with its biggest debt holder.
- AUTO MARKET LEADER - China is expected to be world's largest auto market in 2009, with the passenger-vehicle sales rising to 858,300 units in August, up 90% y-o-y. Its burgeoning domestic car companies will soon enjoy the spoils of its own lucrative market.
- MINING SECTOR – After years of under-investing in mining, China has been rapidly playing catch up with the world. In addition to buying up natural resources outside of China, China is unearthing significant finds domestically.
- HEALTHCARE REFORM – As part of its effort to shore up the social safety net the government is spending billions of dollars on health care. As people feel better taken care of they will spend more and save less.
- FARMER LAND RIGHTS – The great untapped promise of China is its farmers. The government recently provided farmers with greater land rights which will encourage investment and enhance the tradability of farm land.
- LOCAL FUND INDUSTRY- The domestic fund industry is just developing now, helping to further grow China’s financial markets.
- CROSS STRAIT RELATIONS – The thawing of relations will benefit both China and Taiwan.
- HONG KONG - HK continues to be a fantastic gateway to China and an extra engine for the development of the mainland. HK's continued strength is mutually beneficial.
- CHINA HELPING ASIA AND ASIA HELPING CHINA – China is a new global engine for growth. This is especially true in Asia. Thanks to China, Asia as a whole has been better off from the financial crisis compared to the rest of the world. Asian countries will support each other and succeed together.
- BROAD BASED SUPPORT. – China has many stakeholders in the success of its economy. The rewards are distributed fairly widely, unlike in many banana republics. As a result, many citizens are pulling on the same rope.
- HIGH PURCHASING POWER+ LOW COST OF LIVING-With fast growing GDP per capita on a PPP basis, Chinese are enjoying a higher standard of living that will spur further consumption.
- EDUCATION A TOP PRIORITY – Chinese are willing to spend heavily on education, which creates not only a major investment opportunity in the short-term, but also a supply of more trained and skilled workers to help China move its economy up the value chain. The population has a 91% literacy rate – even taking local provinces into account.
- MOVING UP THE VALUE CHAIN – China is moving up the value chain in manufacturing. China is now starting its own airplane company and making Airbus A320s in Tianjin and electric plug-in cars in Shenzhen instead of just t-shirts and toys.
- IPOs -China is one of the biggest beneficiaries of the IPO markets comeback, just like in 2007 before the IPO market shut down for an extended period of time.
- LONG TERM VISION - China policies tend to manage for the long term (5 year plans etc). China is patient and conservative...BUT...not risk adverse. They know when to double-down when they have a great hand, like now.
- LIKE-MINDED CITIZENS: The cultural legacy of collectivism among Chinese citizens helps the government orchestrate powerful changes from the top to the bottom of the social pyramid. Contrast this to the US and its diverse interests (eg the current health reform debate).
- SAVVY NEW LEADERSHIP – The new generation of Chinese leaders are much different than their predecessors. Many of them have been educated in the West and served in International roles. These new leaders will be able to toggle between domestic and international markets with ease.
- MANDARIN ADOPTION - Countries all over the world are investing in Chinese language skills. This will only perpetuate the growth/success of China.
- MONEY MAKES MONEY. China sits in the enviable position of having a birds-eye view on the best deals domestically and internationally. And it is often invited to participate in these deals. China’s sovereign wealth fund, for example, buys into many of these deals and its participation (given its market clout) almost guarantees the success of these companies/investments.
- PRAGMATIC. The Chinese tend not to "overthink" things. They focus on the basics, what usually makes economic sense.
- ECONOMIC FREEDOM, NOT POLITICAL FREEDOM – Similar to the above point, Chinese will take what they can get. They fully understand that political freedom is not coming any time soon and choose instead to concentrate on the areas that the government has given them flexibility…the economy.
- NO MILITARISTIC AMBITION – China has always looked more inward than outward. Leaders at the top are aiming for stability, not world domination.
- WORK ETHIC - Chinese are known to have an amazing work ethic. Success cannot be achieved without hard work. After being held back for so many years, they wont waste their current opportunity.
- LAND OF ENTREPRENEURS - Americans have met their match in terms of entrepreneurial prowess. Don’t be fooled by the "Communism" label. The Chinese are pure capitalists.
- HISTORIC PERSPECTIVE - China has been # 1 before. They are well versed with their own history, and they are not timid about getting back to that # 1 spot. China feels that is where it belongs. China in Chinese is "Zhongguo" or "Middle Kingdom" (center of the world).
- QUICK LEARNERS - China learns and adapts fast. Visit China now and come back 5 years from now, and you will see a vastly different country.
- HOME FIELD ADVANTAGE - Foreigners often complain about the "rules" in China and the lack of a fair legal system. To be sure, China plays by its own rules. This will only benefit its home-grown winners in the most lucrative market on earth.
- TIMING – China is rising while the US and other powers are falling. China is at the right place at the right time with the right balance sheet.
- CONFIDENCE IS HIGH. With 30 years of successful reform, China has a bounce in its step right now. Success breeds success.
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