Hello EP, <<but for those of us are living through it, it seems to take a long time>>
... thank goodness and enjoying it, for, like I like to remind Maurice, the trip is long.
I am still in Shanghai, all looks well, the officialdom apparently aim for continuing 8-10% per annum growth for the next five years over the entire landscape.
Taxi rides from airport to hotel went up by about 15%.
All hotels are choked with guests. Reservation required one day guarantee, not refundable if cancellation. The Formulae One crowds are in town, with full crew, press, and the whole lots of yards.
Interesting uptick. The European companies, with strong Euros, are all of a sudden gunho on China investment again, and am even hearing from companies without ex-Europe overseas investment knocking on my e-mail. Amazing. Manufacturing & R&D deals mostly.
Lots of European companies global main Board Meetings are being held in Shanghai before year end.
One outfit recently had a strike back home, and the CEO/chairman couldn't get in the door of HQ building. Now the man wants out, completely out of the offending country.
GoodYear opened their AsiaPacific HQ in ... no, not Tokyo, Hong Kong or Singagpore, but Shanghai and looking to cut cost, but no, not in China.
There has also been a sharp pickup in inquiries regarding offshore reinvoicing services from N.America, or so goes the rumor mill in HK, and so it appears that the electorates are voting with their wallets, and their hearts and minds are following, by and by.
The believers are new, enthusiastic, and has strong momentum. So we have another round of TeoTwawKi shift of the center of gravity, not noticeable at the periphery, but in anyone's face if he happens to be situated on one of many tectonic plates that happens to be moving at any moment.
I figure once the moolah movement is more mature, the bottom will drop out somewhere. And once folks figure out the that a mispricing has taken place in some parts, the buy orders will come back something ferocious, as all try to save themselves by piling on the last train that is leaving the station.
Buy any dips in commodities. Buy more if they crash.
Chugs, J |
