Tom,
"Suffices to say that those nations who are incapable of providing higher living standards, for whatever reasons, will either remain the boom-bust puppets we know or sink into societal and economic oblivion. I suspect the latter will be their fate."
That is a depressing statement. I just wish the IMF and others would get it thru their heads that it's JOBS that are needed, not bank bailouts. Target the monies to roads, bridges, dams, water & sewage treatment, schools, telecommunications. We're dealing with uneducated workforces with limited capabilities. Trying to support countries from the top is not the answer. China seems to be the only country that realizes this.
The only thing that surprises me is Zhu talking to the developers. Tung has been getting a lot of flack lately and I'm not sure why. Zhu showing support makes sense, but I'm not sure I like him being involved in HK affairs.
Why a new trading board in HK for China shares? It might be better on the Hang Seng with the more open disclosure requirements. I agree, if it's going to be a China board, put it in Shanghai - or Beijing.
JMHO,
Ron |
