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Strategies & Market Trends : True face of China -- A Modern Kaleidoscope -- Ignore unavailable to you. Want to Upgrade?

To: cyberslam who wrote (2977)	3/9/2008 10:35:32 AM
From: RealMuLan	Read Replies (1) \| Respond to of 12464

Yes, exactly. One major reason for Chinese being poor before 1978 so-called open door policy was due to the vast majority of the nation's wealth was accumulated in form of public assets, and a lot of these assets were intangible. After 1978, most of these state assets got sold at the below-the-book price to foreign capitalists and a very small number of domestic corrupted businessmen and officials, at the cost of the vast majority of ordinary Chinese! There are anywhere bet. 50 million to 100 million laid off SOE workers in the last 3 decades in China, who have given to the nation pretty much ALL they had selflessly, but then abandoned by the reform and left empty handed. When people see the change in China in the last 3 decades, FEW of them realized without the sacrifice of the first 1-2 generations of Chinese before 1978, there would NEVER be any so-called economic miracle in China in the last 3 decades! Sorry, I am not aware of any Yuan carry trade that a small investor can do. I guess there are some banks in the US where you can make deposit by Yuan? such as this one everbank.com