Pig Butler at Memphis Airport -- photo copyright Kyi May Kaung
http://www.nytimes.com/2009/01/02/business/worldbusiness/02yuan.html?th&emc=th
from New York Times.
Additional note:
Deng said:
"It's glorious to get rich."
"If you open the windows, some flies might get in."
and apparently "We must allow some people to get rich first."
Deng's economic reforms of 1978 were accompanied by a downsizing of the People's Liberation Army(PLA)and "a more professional army."
Now that the global economy is in Recession (with a capital R)
China is looking to a new economic model, perhaps led by the domestic market and satisfying its domestic demand from over a billion population. Maybe its industries will have to change its product mixes.
It is also on better terms with India.
I hope it won't draw down or draw out its money in U.S. Treasury Bills, which are now propping up the U.S. government, which is attempting to bail-out or being asked to bail out U.S. industries and financial institutions in trouble.
Food for thought for the New Year.
Notes -- copyright Kyi May Kaung
