Friday, February 26, 2010

The First Week

This week was my first week back and work and also our first week with our niece living with us as a nanny/housekeeper. Both have been going well, with a few snags along the way, as was expected.

Actually, I shouldn’t complain at all about work because when I went to pick up my schedule on Monday I got a huge surprise — I’m only teaching eight hours this semester! This happened due to the convergence of two circumstances, the first being that my graduating seniors are focusing on their math and science subjects this semester in preparation for their AP exams and taking fewer English courses, having already finished taking the TOEFL, the English language exam they need to get into colleges in America, the second being that while I was on maternity leave the school hired a part time teacher to cover my classes and now that I’m back and another full time teacher (a good friend of mine from Kunming, in fact, someone who used to work at the school I started there) is arriving, there’s a surplus of teachers. The school could have let the part-timer go, but they wanted to keep him around just in case, since decent foreign teachers aren’t easy to come by. So what that all means is that I am working eight hours a week. I have several days where I only teach a class or two, and on Thursdays I have no classes. I really couldn’t have asked for a better schedule to start back at work again. To top it all off, four of my eight hours are teaching a “preparation for overseas study” course that was sort of my own creation. It is a fun class where I go in and talk to my graduating seniors about what they can expect from life in America, cultural differences, college and campus culture, and stuff like registering for courses and getting along with your roomates. It is a lot of fun and they have loads of questions and are very curious about what to expect.

However, work is work, and it has been hard to leave my baby at home when she’s so small, even if it is only for a few hours a week. I know that I’m very lucky in that department though, because so many working mothers have 40 or 50 hour weeks, like I used to have at my original Beijing job, and this job, which allows me to work so few hours for the same amount of pay is really something I shouldn’t take for granted.

Another something we should try hard not to take for granted is the presence of our niece who has come to help us take care of our kids and look after our house. Cui Yu is seventeen years old and this is her first time being well and truly out of the home. She does a pretty good job so far, although I have to say that I feel a twinge of jealousy when she takes my daughter and gets her happy and smiling, which is silly, but I feel like already her bond with me is becoming less and less her only real bond, and more and more she’s opening up to more people. This is, of course, a good thing, but I did sort of cherish that time when I was her everything. Cui Yu has been taking Dylan out to the park too and she’s told me that people ask if he is her son, which makes me a bit territorial. I feel ridiculous feeling like I’m competing with a seventeen year old for my kids’ affection, but I am sure it is a combination of things — going back to work, Annika being so small, and having to share our space with someone new. In any case, Cui Yu, when all is said and done, is good with the kids but she’s still young and has a lot to learn. She has a tendancy to spend too much time chatting on the internet and I had to talk to her about holding the baby more when she is left with her, rather than just putting her in the bouncy chair or in her swing. Annika is a relatively laid back baby and she’s happy to sit in her bouncy chair for what seems like hours, but that doesn’t mean that it is the optimal place for her, especially when someone is available who could be holding her and interacting with her. My husband has gotten a bit short with Cui Yu several times as well because she lacks initiative. She’ll sleep in the morning until we actively wake her (which I told my husband he needs to do. If you want her up and helping, wake her up and get her out of bed) and she’ll put off cooking lunch until she’s asked to cook, rather than just taking the initiative and getting lunch started. There have been a few times too where she’s gotten Dylan worked up over something just by speaking without thinking — for example, teasing him by telling him it is bathtime when it isn’t, in fact, bathtime. Dylan loves bathtime more than anything in the whole entire world and the mere mention of the word “bath” can send him into a frenzy. When this happens at dinnertime it is quite inconvenient. We decided that in the future, whoever gets the toddler excited about taking a bath at innapropriate times gets to give the toddler a bath at an inappropriate time. Overall though, these are minor issues though and I think things are going well. Tomorrow we are giving Cui Yu the day off so we’ll see if she choses to go out and do something rather than spend the entire day chatting on the internet.

All in all I’d say this week has been a success. Let’s hope the next week goes relatively smoothly now that we’re all getting accustomed to our new setups and transitioning into a new routine.

[Via http://thelocaldialect.wordpress.com]

Avrum: CJN Article (Feb. 22, 2010) Purim, Balloons & Hope

What is your take on this article? Do you have hope toward a better world? Are you working toward it? What are you doing? If not, why not?

_________________________________________________________________________

Fortunately, a bubble can only burst once. Or can it? I blew up a balloon for my son, Noah River. It was long and stringy, the type a balloon artist would use to create the wheels of an inflated car. We played balloon volleyball with it, tossing it about and watching as it bounced off cabinets, eventually landing on the point of a fork. Then boom! It burst.

I picked it up to see if the shredded balloon might be salvaged. A little boy wanted the balloon to be awake again. Eventually, I succeeded in creating another balloon, albeit a smaller one with shreds of rubber hanging off of it.

Noah and I tossed it about again, hoping for a repeat of its former agility and liveliness. But alas! The new balloon flew, bounced and then quickly torpedoed downward rolling awkwardly and tiredly along the floor looking to forgo its responsibilities as a balloon.

Soon enough, it burst again – for a second time. Noah was again disappointed.

After the Holocaust, a depression took hold of the Jewish People as it did much of the world. Six million of our people were murdered, homosexuals were executed, the physically handicapped, the Roma, Soviets, Poles and German underground fighters were beaten and slaughtered. Millions were dead. Many unmarked graves, ugly holes in the cold floor of our earth, welcomed these poor spirits.

Humankind was devastated. With the death of so many, our bubble of hope exploded wildly, and oxygen of grief splattered all over the world.

Soon though, it inflated again – our hope bubble did – and humankind uttered, “Never again,” allowing for a positive transformation and an invigorated belief in the possibility of civility and peace. Something inside of us understood we had to stymie the activities of the wicked – the Hamans – and we could no longer let murder en masse happen.

Then came Mao Zedong and the 50 million murdered in China. Then came Pol Pot in Cambodia and 1.7 million murdered. Then Menghistu in Ethiopia and a million dead. Then Joseph Savimbi in Angola, Idi Amin in Uganda and Charles Taylor in Liberia. Then the Balkans. Then Rwanda. Then the Iran/Iraq war. Then the Congo. Then Darfur.

Burst!

Darfur. Fracture, rupture… bust!

Explode.

Never again – words.

With all the activism, monies and helicopters committed to the well-being of Darfur’s men, women and children, Esther never made it into Achashverosh’s court. Darfur is lost. “Never again” is in shambles. What happened?

Jan Pronk, the former head of the United Nations mission in Sudan, said the country had realized it could “get away with anything.” That’s what happened.

Sudan, like Al Capone in the roaring ’20s, and like Iran today, knew it could do what it wanted, when it wanted. Omar al-Bashir of Sudan laughed at petitions, UN resolutions and words like “unacceptable,” “genocide,” “must stop” – just like Pol Pot of Cambodia who couldn’t care about protesters. We, the people, were letting them feast on blood, and they ate heartily.

Refill that balloon.

The only way to stop the next genocide – and there will be another – is for all good people and all “good governments” to fight the enemy hand-to-hand, eye-to-eye, brain-to-brain, and not simply rely on embassy marches.

Like Mordechai and Esther, we need to grab Haman, tie him down forever – and always and recognize evil where it stands and courageously counter it.

How tragic that a balloon can burst twice. Yet with all this bursting, we’ll blow it up again – because humankind craves hope.

[Via http://avrum.net]

Wednesday, February 24, 2010

Chinese rights advocates ask US for funds to break China 'firewall'

AFP, Feb. 23, 2010-

WASHINGTON — A coalition of human rights campaigners on Tuesday urged the US government to fund efforts led by the Falungong spiritual movement to circumvent Internet censorship in China and other nations.

Congress approved 30 million dollars in the 2010 budget to combat cyber censorship in China, Iran and elsewhere. But lawmakers have voiced concern that the funding since 2008 has been used ineffectively.

In a letter to Secretary of State Hillary Clinton, rights advocates — most from China — urged that money go to the Global Internet Freedom (GIF) Consortium, originally set up to evade China’s Internet “firewall.”

“By taking the right steps, the United States can make a historic contribution to its own security and to the advancement of democracy by rapidly tearing down the information firewalls of the world’s closed societies,” it said.

The letter was signed by exiled leaders of the 1989 democracy uprising in Tiananmen Square including Chai Ling, Wu’er Kaixi and Xiong Yan, along with figures behind the landmark Charter 08 petition for greater freedoms in China.

Other signatories included Rebiya Kadeer, the leader of exiles from China’s Uighur minority, along with activists campaigning for greater openness in Cuba, Myanmar, North Korea and Syria.

GIF software was designed by the Falungong, which was banned by China in 1999 and branded an “evil cult” following a silent mass gathering in Beijing by its members.

But the technology was also put to use last year by Iranians who circumvented censorship to organize protests against clerical hardliners via Twitter and other websites.

The letter said that GIF servers, which nearly crashed after the Iranian elections, could be upgraded to allow 50 million unique users a day, up from 1.5 million now.

Five senators — Democrats Robert Casey, Edward Kaufman and Arlen Specter, along with Republicans Sam Brownback and Jon Kyl — wrote a letter to Clinton last month voicing concern that the grant money was going to waste.

They faulted the State Department for restricting grants to groups working inside a country, countering that “the most successful censorship circumvention tools are operated remotely.”

Clinton, who testifies before Congress on Wednesday and Thursday, last month urged China to conduct a thorough probe into cyberattacks on Google and pressed technology firms to resist censorship.

- AFP

[Via http://chinaview.wordpress.com]

China's President Skips Twitter, Opens State-tied Microblog

Owen Fletcher, IDG News Service, Via PC World, Feb 22, 2010 -

Chinese president Hu Jintao has opened a microblog, adopting the technology despite his government’s work to stifle free speech by microblog users in China.

Twitter has been blocked in China since last year and authorities are asking its Chinese rivals to censor messages posted by users, adding another page to China’s playbook for quashing discussion of certain political and other sensitive topics online.

Hu’s microblog is on a service run by the People’s Daily, the official paper of the ruling Communist Party, and is only visible to registered users of the service. Hu had not made any posts as of Monday, but thousands of people were signed up to receive his messages, according to reports by local media including the Global Times.

Posts visible to the public on the microblog site showed many users saying they had just created accounts after hearing Hu had done so as well. Some users wished Hu a happy Chinese New Year.

Hu’s account had no picture but listed his political titles. It was not clear when the account was opened.

U.S. President Barack Obama has a Twitter account and other global political figures keep microblogs as well. Hu is the first elite Chinese official to open a microblog but he and other officials, including Premier Wen Jiabao , have previously appeared in online chat sessions targeted at the public. The government has sought to emphasize that it supports the growth of the Internet even though police monitor it for sensitive content, like discussion of elite government corruption or the banned spiritual group Falun Gong, and Web companies can be punished if they allow users to post such information.

Google, which is number two in China’s online search market, last month said it plans to stop censoring results on its China-based search engine, even if that means being forced out of the country. The move threw global attention on China’s censorship policies. Google has said it is in talks with Chinese authorities but has not yet removed the filters on Google.cn.

- The PC World

[Via http://chinaview.wordpress.com]

Monday, February 22, 2010

The "Good Dishes"

My mother had a beautiful set of china known as the “good dishes.”  They were special to her and for decades she proudly displayed them in a glass-fronted china hutch in the dining room.  That delicate set stayed protected within that china hutch through every Christmas, Thanksgiving and family get-together. Perfectly arranged and stacked they sat idle through every education and work- related achievement in the family.  Ever at the ready, but never called; they watched the celebration of many weddings and the births of grandchildren and great-grandchildren alike.  Never did a visitor come that merited the use of the treasured dishware.

We didn’t doubt that she loved us with all of her heart, but we sometimes wondered silently just what occasion would warrant the use of the “good dishes.”  The years added up to a lifetime, and as her time grew short she passed them on to a daughter. The beloved porcelain went with just one rule: “Set the table,” she entreated, “use them enjoy them; don’t protect them from harm. Don’t wait for something big to come along. Let the people that you love know that they are special, and celebrate life with them any chance you get!”

[Via http://unchainyourbestfriend.wordpress.com]

The Summer Palace

The Summer Palace

It is very hot in Beijing during the summer months.  A short ride away, The Summer Palace is the respite from heat and humidity.  It is the largest preserved imperial garden in China, and truly magnificent.   A long roofed corridor borders the Kunming Lake, perfect for a relaxing stroll and then onto a dragon boat to catch some extra cool breezes.

For the full history of  The Summer Palace, visit  http://www.chinahighlights.com/beijing/attraction/summer-palace.htm

One advantage of traveling alone is, I didn’t need to “keep pace” with a group.  I could spend as much time as I wanted along the way.  Recall from an earlier post, “support hose” was on my refrigerator list of the important “do not forget”  items to bring.  Without those, long walks would tire my legs out quickly.  I still rested as needed, and Vicky was so charming.  She walked with me, kept her arm linked with mine.

Where I live in New Jersey, I am close to the Delaware River and its towpath.  It might be cooler on the towpath, but it sure is not The Summer Palace.  This would be the summer home of my dreams!

So just pretend, this actually is my summer home and you are invited over as a guest.  Certainly, you may click on the images for a larger view.

[Via http://ginnyroth.wordpress.com]

Friday, February 19, 2010

Clothing Purchase Golden Rules

http://video.china.alibaba.com/video/view/147030.html

Recently a video interview with the warm Alibaba received extensive attention, many of my friends asked to sort out an interview text,

Warm in accordance with the text content of the discussion out inside the next time, we will release a part of the day, an interview text, everyone’s attention and discussion, the summary is not good enough warm, or hope that you will supplement Oh, He He ~~~~~

Issue 2. How to prepare for before you purchase it?

I think the retailers to purchase pre-preparation is necessary. This is at least the following 3 points should be very clear. Have a general plan, and avoid going to the wholesale market by those sellers of the beautiful MM temptation chaos sweeping a bunch of junk goods back. (Because we have several retail customers purchase just the beginning, there was no adequate provision to do the following, eat this loss, saying that sold a few months, and half of the shipment does not sell. Painful experience .)

1.Comprehensive consideration of the number and amount of purchase

a. For the newly opened shops are:

Distribution for the first time you can be estimated:

For example, that is 10 square meters of shops, probably about 100 goods shop. If you want to count and color code to Prepare all the necessary, then probably about 150 goods.

b.Usually getting goods are also to pay attention to the strategy:

Is to take a good amount of your income goods. Depending on your shop’s sales, there are planned purchase.

For example: If your shop monthly turnover of about 50000, you absolutely can not purchase more than 40,000. If you have only 5 million a month turnover, and you are in 8 million of goods, even if the over-sold 7 million, or pressure of 10,000 yuan. Although many goods stores, sales might be larger. However, the 2 million fewer goods, not necessarily how much less turnover. But will increase the pressure money. Because sales is for a single retail store has a critical value.

So, please keep in mind: a certain volume of business in accordance with their planned purchase.

2.Good control of the rhythm of each month of purchase

Always concerned about the home inventory. Summary before purchase goods also sold under the house before long, it is the most crucial of the total number of your purchase has a guide.

Because women’s update very quickly, this year, will sell the products this quarter, perhaps a few months, he was included in the obsolete product. Therefore, purchase is necessary to emphasize the rhythm, that is: the new quarter of red goods, intermittent purchase, festivals possession of goods, seasonal uniform when the Clearance.

a.Chong Cargo: In most parts of the rhythm of the domestic like this: in March last spring, in May last summer, in September last Autumn, in November last winter. Of course, if you are a novice, or for the quarter, the overall trend is not very self-confidence, can be relatively postpone that visit in the wholesale market for some time, have feelings, and then slowly try new.

Because it is the beginning of a new quarter, so sales of these goods may be longer, for example, in March of the goods can be sold for 4,5 month. Since the sellers time to a more adequate, and also periods of peak demand, so in March of the spring to the foot.

b.To continue to purchase, thenIn order to maintain the shop 20% of new goods. This ratio is arrived at through the data analysis. 20% of new goods both guarantee that your cash flow while assuring the shop there have been new on the shelves to keep the shop for new and old customers.

c.Festivals possession of goods: Every holiday, we all go out and spend a holiday, and shop some hot business. Then you can close up the new goods, specializing in selling slow-moving goods and the basic models have been easy to sell. Because of seasons, we are all directed at mood, atmosphere, go shopping, so this time, what will be easy to sell the goods. Moreover, when the major shopping malls are in discount promotions, you difficult to sell the products of the Shang Hao price.

d.Seasonal uniform Clearance:This topic until the following stocks mentioned how to deal with the topic in more detail to explain.

3.A good grasp of the style of shops, consumer groups and clothing grade position.

This aspect, in fact, you consider opening a shop fitting should be determined well before the. Because these are related to your shop decoration and location closely linked. Then go to purchase before, we must remind ourselves once again sober, what kind of products are suitable for your shop. Do not go there, saw sales of MM wearing beautiful clothes look good, and then goes on by her powerful mouth of the instigation, has lost direction, blindly purchase a.

Some of the above is only done enough to prepare before they can proceed to purchase.

China Suppliers Trade Directory offering a huge range of Chinese Gowns, China Knives, China Gadgets, China Storage Containers, Chinese Bike Parts, Chinese Dresses, China Backpacks, China Medicines, China CCTV Camera, China Computer Accessories, China USB Products, Suppliers, Buyers and Wholesalers.

[Via http://chineseproducts.wordpress.com]

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[Via http://jawuzkie.wordpress.com]

Wednesday, February 17, 2010

18 ancient tombs unearthed in North China

Chinese archaeologists have unearthed 18 ancient tombs while working on a south-to-north water diversion project in Xingtai City (邢台) in north China’s Hebei province (河北省).

The tombs were found in Xiqianliu village, in Xingtai’s Qiaoxi District, Li Enwei, chief of the city’s cultural heritage bureau, said Wednesday.

Li said 16 of the tombs dated back to the Qing Dynasty (1644-1911) and contained about 100 pieces of porcelain, tiles and copper coins.

The other two tombs date back to the Yuan Dynasty (1206-1368 A.D.) and had apparently been robbed of all their valuables.

“We excavated an area of 500 square meters around the reservoir area in the village in December,” Li said.

Before these tombs were unearthed last month, Li said archeologists had already discovered 104 ancient tombs along the water diversion route in Xingtai, he said. “These ones spanned the Warring States Period (475 B.C.-221B.C.) to the Qing Dynasty.”

The ambitious project to divert water from China’s south to the arid north runs for 93.3 kilometers in Xingtai city and passes 97 villages and 14 major heritage sites.

Archeological excavations began in August 2009 to preserve the cultural heritage.

Li and his colleagues believe the new findings will shed light on local history and folk customs such as funeral rites.

bron: news.xinhuanet.com

[Via http://wocview.wordpress.com]

Two people. One Duck.

Week of February 8 – 14

Amy and I took advantage of the the long weekend and traveled to Beijing to ring in the Year of the Tiger Chinese style. We ate Peking Duck, traipsed through the immense Forbidden City, admired the Temple of Heaven, hiked the Great Wall (and tobogganed down), strolled through Jingshan Park, and witnessed the most bone-rattling display of amateur fireworks ever. We returned to Seoul tired and sick, but we saw and did some amazing things.

[Via http://littlearrow.wordpress.com]

Monday, February 15, 2010

In my shoes

My father just spent $700 on 4kg of rabbit fish. The rabbit fish, also known as Pek Tou He (direct translation: 白肚鱼; White Belly Fish) in Teochew dialect, is a must-have delicacy every Chinese New Year for Teochew families. I am not sure how this obsession with the rabbit fish came about, but it has been ingrained into my psyche over the years.

In a Social Psychology class on self perception we were asked to complete twenty statements starting with “I am…” as fast as possible, so as to ensure the accuracy of the response. After inspecting the list, I realised that race and nationality did not feature in any of my responses. The first line I wrote was “I am Linette Lim”, attesting to the importance of the self over any social group. I also identified with being a daughter and a sister, reflecting the importance of family to me. Interestingly, I had also put down “I am Teochew”. I think it has a lot to do with growing up in a large family, and being under the care of three grandaunts who only spoke Teochew.

In a generation of youth who are rootless – too far removed from their ancestral culture in India, China or Indonesia, yet finding that the Singapore identity too new, too shallow for them to take root in – I am an anomaly. I am an anomaly not because I speak Teochew more fluently than Mandarin, but because I am deeply aware, and rooted in my family’s history.

It was the elderly Teochew folk in my family who first shaped my understanding of the world. Let’s start with food. Initiated to the concept of Chee (鲜; freshness), I grew up obsessed over the freshness of food, particularly seafood. Food must not only be fresh, but unflavoured and unseasoned, and preferably, steamed. Seasonings and sauces will only guise the Chee-ness of the food, and that is a no-no. As I grew older I developed a sort of duality. I enjoy simple, steamed Teochew dishes but I, like many Singaporeans, appreciate a good spicy Lamb Rendang.

Conventional as they can be when it came to food, I must say that the people in my family were a progressive bunch when it came to other things. My great grandfather was a textile merchant from Swatow (汕头; Shan Tou) who came to Singapore in search of better opportunities. My grandaunts (currently in their seventies) went to convent schools run by the British. My grandmother was not the traditional wife who stayed at home; she was always out with friends. My father’s first job was in the Air Force, ignoring relatives who used the “好儿不当兵” adage against him.  It was widely held view that a filial son would not join the military. Thus my identity stems from not just from Teochew culture, but also from the enterprising nature of Chinese immigrants and my family’s emphasis on individualism.

Writers more observant and eloquent than me have pointed out that while the Chinese immigrants of my grandparents’ generation referred to themselves as Teng Sua Nang (唐山人or Tang Dynasty people) contemporary Chinese immigrants call themselves Han Ren (汉人or Han Dynasty people) or Zhong Guo Ren (中国人or People of the Middle Kingdom). These labels provide a great insight into the differences between new and old migrants, and the slippery concept of Chineseness. Something called internet serendipity brought me into the contact with Willy, an Asian American girl in Los Angeles and we started an online discourse on Chinese identity and the Chinese diaspora. It fascinates me that my life would have turned out differently had my great-grandfather decide to expand his textile business elsewhere; and it fascinates me that the technology has enabled us to connect to each other.

My perception of self is very much defined by my sense of my family’s history, but because I have not lived through much of that, I am reliant on the accounts of my grandaunts. I am a product of my family’s past, as much as I am moulded by the schools I went to; the people I met in life; the books I consume. I am a patchwork of various elements, a Frankenstein if you will.

[Via http://dontkillcows.wordpress.com]

Spring Festival

新年快樂! (Happy New Year)

February 14th this year was the Chinese New Year’s Day, the peak of the Spring Festival which is the most important Chinese holiday. As all traditional Chinese festivals, it is based on the Lunar Calendar and we’re now at the start of the year of the Tiger. It is practically impossible to travel inside China right before the festival as it is usually spent with the family and this means that people travel to their hometowns from the place they study or work.

In many ways, Spring Festival is to the Chinese what Christmas is to many Norwegians; a time for family, good food and traditions. These traditions differ depending on where in China you are. Most of the traditions are based on Chinese folk religion and include elements of ancestor worship, symbols that bring luck and prosperity and rituals to scare evil spirits from following them into the new year.

One tradition I’ve seen a lot of is fireworks. These days there are fireworks everywhere, all the time. It started Saturday at about 11 a.m. and I’ve been more or less able to hear it every hour after that, either distant or close by. Traditionally, the fireworks were to scare away evil spirits. I don’t know whether this is still in people’s minds when they use them, but it sure is the most visible (and audible) sign that celebrations are taking place.

Tasha and I got to see some of the preparations for Spring Festival up close last week when we visited Cuty, one of our Chinese friends. We made dumplings! This is the traditional "Spring Festival-food" in Northern China; so many families make them before the celebrations start. Dumplings are basically meat and vegetables wrapped in dough and then either boiled, steamed or fried. It’s easy to get hold of dumplings in Nanjing any time of the year, but they are mostly mentioned in connection with Spring Festival.

According to tradition, we put a coin in one of the dumplings we made. The one who gets the coin will have a year filled with luck and prosperity. We cheated and put a coin each in the dumplings, so we all ended up with lucky coins ^^,

Another tradition is to put up paper decorations on the door. These usually have characters like "luck" on them and are supposed to protect the home in the year to come. And they are not removed from the doors until next Spring Festival when new ones are put up. So we have seen them on doors from we came to China, but now they are all new and shiny. Tasha and I decided to put two tigers on our door too, for decoration purposes only.

We celebrated New Year’s Eve (13th) by going to the old town of Nanjing (Fuzi Miao) where there were lots of lanterns and lights. Pictures say more than words, so I’ll leave you with some photos from my Chinese New Year.

[Via http://mathildesblog.wordpress.com]

Friday, February 12, 2010

Manchukuo Red Cross Member Medals, part 2

Here is a member medal in its original box of issue:

And here is the document that was given along with the medal for a Full Member:

This is dated Koutoku 8 [1941]. Finally, here is the Special Member medal in its case. The large ribbon rosette shows the Special Member status:

[Via http://imperialjapansakecups.wordpress.com]

Les poissons

It was an open street of poultry and seafood massacre, and a very busy day for everyone at the market.

The word glee came to mind when I saw the fishmonger.

First, I heard “Thwack! Thwack! THWACK!”, the finality of the last chop rang in your ears and delivered the once-whole fish to its different customers.

Then you notice the blood spatters in all directions. Followed by guts and bits of bone flying alongside.

Finally, the smell. The wet, musky and strong odor that fills your nostrils to trigger a gag-reflex.

All while processing this, people and bicycles are bumping against you to get through, chickens trapped in cages are squawking in confusion while someone is yelling at you,

“WHICH FISH DO YOU WANT? HOW MUCH?”

“THE HEAD, THE HEAD, DO YOU WANT THE HEAD?”

January 2010

An ode to les poissons.

Les poissons

How I love les poissons

Love to chop

And to serve little fish

First I cut off their heads

Then I pull out the bones

Ah mais oui

Ca c’est toujours delish

[Via http://shanghaistreetstories.wordpress.com]

Wednesday, February 10, 2010

Baidu's Tiny Earnings And The Chines Search Market

Baidu (NASDAQ:BIDU) impressed Wall St. with its fourth quarter 2009 earnings. Revenue rose 40% to $185 million and net income was up 48% to $63 million. Investors are impressed enough with Baidu’s numbers to give it a market cap of $15 billion, but it is still a tiny company with almost no prospects outside China where it is the No.1 search engine by far based on a market share that is said to be 70%.

China has an internet population of nearly 400 million people so analysts have to wonder why Baidu is as small as it is. Google,which is the leading search company in most Western nations, had revenue of almost $6 billion last quarter.

Google says it may leave China due to issues of cyberattacks on its servers and the central government’s censorship programs. Baidu’s modest results are a sign that the search market in China is immature, or that search will never be much of a business in the world’s most populus nation. Baidu is trapped within Chinese borders to the extent that Google and Yahoo! control search market share in most developed nations and local products have dominant positions in Russia and many other developing nations.

It has not occurred to many people who follow the global search business, but the Chinese online population may not use products like Google and Baidu the way that people use them in America and Europe. The ability to quickly find relevant results from web search is almost certainly valuable everywhere. But, internet users in China may not be inclined to use the text ads that run next to most search results and those text ads are the primary source of search engine sales. Revenue for Baidu will always be stunted if the revenue model that Google has built does not work well in China. The common assumption among analysts is that the habits of web search users are common around the world. That may not be true at all.

Search engines are valuable to internet users everywhere. Text advertising may not be. If that is the case, the Chinese search industry may never be a financial success, and Google’s trouble in China may not hurt its prospects at all.

Douglas A. McIntyre

[Via http://247wallst.com]

Budget Deficits Threaten US Security

This Bog continuously raises the dangers from our out-of-control spending and the United States budget deficits.  These concerns have mainly focused on the economic challenges deficits bring us.  But there are more dangers lurking from the deficits.

The United States has been the preeminent world power since World War II, both economically and politically, which has offered Americans security and the ability to have a high standard of living.  This preeminence is at risk due to the huge deficits and our need to borrow money from other countries, some of which are unfriendly to America.  One example of this dangerous dependence on foreign funding for our deficit is China.

The Obama Administration has angered China recently by agreeing to sell over $6 billion in military equipment to Taiwan.  In addition, President Obama plans to meet with the exiled Tibetan leader, the Dalai Lama, which has caused China angst.  According to Reuters, Senior Chinese military leaders at the National Defence University and Academy of Military Sciences have responded with the following threats:

“Our retaliation should not be restricted to merely military matters, and we should adopt a strategic package of counter-punches covering politics, military affairs, diplomacy and economics to treat both the symptoms and root cause of this disease.”

“Just like two people rowing a boat, if the United States first throws the strokes into chaos, then so must we.”

“For example, we could sanction them using economic means, such as dumping some U.S. government bonds.” said Luo Yuan, a researcher at the Academy of Military Sciences.

There are those that believe that China, with about $800 billion in U.S. Treasuries, would not risk devaluing these holdings by “attacking” the US economy.  Before we feel too comfortable with this conclusion, let us remember that shortly before the Chinese attacked the United Nations forces in Korea in 1950 our experts promised us they would not risk such a military venture.  History demonstrates that it is safer to take the Chinese at their word.

The ongoing budget deficits present a clear and present danger beyond economic ones.  Next to threat from militant Islam, these deficits offer the greatest danger to American security.

[Via http://enduringsense1.wordpress.com]

Monday, February 8, 2010

Osama: Eco - Warrior.

I LOL’D hard when i read about this (Read Here: http://bit.ly/91R7N7). But seriously, what on earth is that man doing? Even though, Islamically what he is saying he has No surprise then when he blamed America [gasp] for the world’s climate problems. How accurate that is, I have no idea. I would of though China is the World’s biggest polluter, but does that come as a surprise he would blame America? Is it just me, or is everyone getting a bit bored now of Osama and his rants against America? Yes…We get it, YOU DON’T LIKE THE U.S.A!

Hate…Very Un-Islamic? I would of thought so :P

Is this a new change of tactics for Osama? Pick on relevant events? Is he now trying to recruit members from Green Peace?

TMD.

[Via http://muslimdudeblog.wordpress.com]

The New Environment for Climate and Energy Policy

In his recent State of the Union address, President Obama signaled the administration’s new messaging and policy strategy for climate and energy. Not once did he mention “cap and trade,” instead he referred to the need for a “comprehensive energy and climate bill.”

He discussed energy and climate policy in the context of American innovation and international competition. He specifically mentioned that China, Germany and India are making investments in clean energy technology in their pursuit of knocking the U.S. off its global pedestal.

Though he backhandedly chided “those who disagree with the overwhelming scientific evidence on climate change,” he offered another rationale for supporting energy reform, stating that “the nation that leads the clean energy economy will be the nation that leads the global economy.”

The new strategy is savvy in light of the declining public enthusiasm for combating climate change and the inability so far to get legislation passed in the Senate. The economy currently is trumping concerns over the environment. So far, opponents have been able to concentrate on the cap-and-trade provisions of the bill – labeling it “cap and tax.” Cap and trade is an easy target because it is a complex mechanism that relatively few people truly understand. Rebranding enables a discussion of how energy and climate policy affects the U.S. economy and our global standing while removing a bull’s eye for opponents. Focusing on the need to reform our energy regime can appeal to a wider segment of the population and attract broader support.

Energy and climate are intrinsically linked and have serious repercussions for our economy and security. I called for comprehensive energy reform repeatedly in another forum last year.

Americans understand that our current energy system is unsustainable and threatens our security. We recognize that fossil fuels are not replenishable and that our dependence on foreign oil leaves us vulnerable to regimes that are unfriendly to us and regions that are politically unstable. We also believe that the ingenuity and entrepreneurship of Americans can solve problems such as this.

Americans see that every time that the stock market picks up, gas prices rise as well. We also witness almost everyday new examples of hostilities from countries that provide much of our oil and our military activities in regions that are oil rich. It won’t take much of an outreach effort to make Americans realize that energy prices will go up even if no price is assigned to carbon because heightened competition with the likes of China and others for dwindling oil reserves will cause prices to skyrocket – effectively a tax. Putting a price on carbon will simply allow the proceeds to go towards developing domestic alternatives (and American jobs), instead of going to bolster another country.  

Placing a price on carbon is about accounting for externalities in our energy market – the costs that are not incorporated in the price we pay for energy. Those externalities do not simply include damage done to the environment. Even the most hardened climate skeptic can believe that our reliance on oil can cause costly U.S. militarily intervention in oil-producing regions and represents a vulnerability that our enemies would like to exploit.

Putting a price on carbon is necessary for the energy market to function properly. Alternatives will not be able to compete with fossil fuels price wise in the near term unless the externalities are priced in. And the experience with ethanol underscores how relying on government subsidies and mandates alone can be ineffective and even harmful. The market can work, but it needs some help. Announcing that proceeds would go towards investment in clean energy technologies, helping Americans in need cope with rising energy costs or pay down the federal debt, as opposed to going to general revenues, would likely help gain public approval.

In his address, the president also mentioned building new nuclear power plants and drilling offshore for oil. This was a political and policy maneuver. Many Republicans support nuclear power and expanded offshore drilling. It is also a recognition that we cannot make the transition to renewables like wind and solar overnight. There must be a bridge to this cleaner future that involves responsible domestic production of resources like oil and natural gas, And nuclear will likely be necessary for baseload energy.

There is room for a compromise that involves increased domestic production of oil, natural gas and nuclear energy while putting a price on carbon and laying the foundation for a cleaner future. We are seeing that in a promising collaboration across party lines between Senators John Kerry (D-MA), Lindsey Graham (R-SC) and Joe Lieberman (I-CT). The Gang of Ten compromise in 2008 also shows that bipartisanship is possible.

The president has set the table for a possible breakthrough. What is required now is some public engagement and bipartisanship to make it happen.

[Via http://policydaddy.wordpress.com]

Friday, February 5, 2010

Principais notícias: incertezas causam turbulência nos mercados globais

A frágil situação fiscal enfrentada por alguns países europeus traz temores sobre a capacidade de pagamento das dívidas, bem como incertezas acerca da recuperação da economia norte-americana, causando turbulências nos mercados globais.

Os temores fizeram com que os investidores migrassem de aplicações de risco – moedas emergentes, commodities e mercado de ações – para o dólar e títulos dos EUA, tidos como mais seguros, embora o país tenha contribuído para a turbulência ontem com divulgações ruins no seu mercado de trabalho.

A notícia é um dos principais destaques nos jornais e cadernos de economia desta sexta-feira (5). Veja também as demais manchetes referentes a economia e finanças que são ou poderão ser assunto no mercado:

O Estado de S. Paulo

B1 – Crise na Europa derruba mercados;

B3 – “Controle da dívida é crucial”, diz Trichet;

B3 – Moody’s pode rebaixar nota de risco dos EUA;

B9 – Lucro do Santander sobe 40,8% no Brasil;

B14 – Petrobras cancela licitação de publicidade;

B15 – Mineradoras agora brigam por fertilizantes.

Folha de S. Paulo

Dinheiro – Turbulência cresce, e fundos reduzem exposição ao Brasil;

Dinheiro – BC reforça expectativa de que vai aumentar juro;

Dinheiro – Cresce temor com a dívida de países da zona do euro;

Dinheiro – Máquinas: Romi oferece US$ 92 milhões por empresa americana;

Dinheiro – Lobão confirma renovação de concessões;

Dinheiro – Disputa com índios atrasa obras de Vale e Petrobras;

Dinheiro – Etanol será commodity mundial, diz Shell;

Dinheiro – Cosan pode fazer oferta por ativos da Eni.

O Globo

Economia – China deve crescer 11,5% no 1º semestre.

Jornal do Brasil

Economia – Cielo: lucro 77% maior no 4º trimestre.

Valor Econômico

A11 – Desemprego preocupa nos EUA;

B7 – Romi faz oferta hostil de US$ 92 milhões nos EUA;

C2 – Temor sobre a dívida européia deflagra fuga para a segurança;

C2 – Copom muda o tom e sinaliza aumento dos juros;

C3 – BCE vai manter os juros em 1%, afirma Trichet;

D3 – Controladores da Santos Brasil divergem após oferta.

Fonte: InfoMoney

[Via http://naaltaounabaixa.wordpress.com]

CINDERELA PUN TAK BERALAS KAKI

Perjanjian perdagangan bebas atau free trade agreement antara China dan 10 negara anggota Perhimpunan Bangsa-bangsa Asia Tenggara (ASEAN) diteken pada 29 Nopember 2004 di Laos.

Setiap negara diwakili oleh menteri perdagangan mereka. China diwakili Bo Xilai dan Indonesia diwakili Mari Elka Pangestu. FTA merupakan kelanjutan dari kesepakatan kerja sama perdagangan internasional yang telah diikuti Indonesia sejak era General Agreement on Tariffs and Trade (GATT) tahun 1994. FTA regional kerap dilegitimasi sebagai jalan tengah yang ditempuh di tengah-tengah kemacetan Putaran Doha.

FTA ASEAN-China intinya berisi kesepakatan negara-negara penanda tangan untuk membuka pasar seluas-luasnya terhadap produk-produk yang berasal dari China. Caranya dengan meniadakan hambatan tarif yang tercermin dalam penurunan sampai pembebasan bea masuk. Potensi pasar China dengan 1,5 miliar penduduk terlihat menggiurkan. Tentu dengan catatan, industrinya siap berkompetisi.

Sesuai dokumen yang ditandatangani, kerja sama itu berlaku effektif mulai 2005. Negara penanda tangan kesepakatan sebenarnya memiliki kesempatan untuk menyiapkan pasar dan industri di dalam negerinya dari dampak persaingan bebas ketika FTA diterapkan. Hal itu tercantum dalam Pasal 9 perjanjian tersebut. Dalam pasal 9 Ayat 1 disebutkan, “ Each Party which is WTO member, retain its rights and obligations under Article XIX of the GATT 1994 and the WTO Agreement on Safeguards”.

Safeguards adalah mekanisme yang bisa digunakan oleh anggota Organisasi Perdagangan Dunia (WTO) untuk melindungi industri dalam negerinya dari persaingan bebas, terutama dari serbuan produk yang sengaja dihargai terlalu murah (dumping) maupun produk yang di negara asalnya menapat subsidi. Mekanismenya bisa melalui penerapan bea masuk impor yang sangat tinggi untuk produk tertentu sampai ke pelarangan impor. Namun, mekanisme proteksi ini hanya dapat diperlakukan sementara sampai produk atau industri yang spesifik yang dilindungi itu bisa bersaing dengan produk impor.

Dalam kasus FTA ASEAN-China, proteksi terhadap industri di dalam negeri dapat dilakukan sampai perjanjian berlaku penuh pada 1 Januari 2010. Hal itu tertuang dalam Pasal 9 Ayat 2 : “ With regard to ACFTA safeguard measures, a party shall have the right to initiate such a measure on a product within the transition period for that product. The transition period for a product shall begin from the day of entry into force of this agreement and end five years from the date of completion of tariff elimination or reduction for that product”.

Pertanyaannya, apa yang telah kita lakukan sejak naskah FTA ditandatangani hingga akan berlaku effektif pada 1 Januari 2010 ?

Jauh sebelum FTA diteken, produk-prodik China bahkan sudah dengan sangat leluasa masuk dan merajai pasar Indonesia. Sebagian besar adalah produk-produk industri manufaktur, seperti tekstil dan produk tekstil, sepatu, plastik, yang mengancam keberlangsungan industri dalam negeri.

Maka, ketika Presiden Susilo Bambang Yudhoyono menilai permintaan penundaan pemberlakuan FTA dengan China semata sikap nasionalisme sempit dari sebagian kalangan yang tidak siap bersaing, sebenarnya ia telah melupakan peran negara.

Daya saing

Kalangan industri telah berulang kali mengemukakan bahwa rendahnya daya saing industri disebabkan oleh permasalahan seperti keterbatasan suplai energi dan biaya yang tidak bersaing, sistem dan aturan ketenagakerjaan tidak terkait produktivitas, infrastruktur jalan dan pelabuhan, prosedur kepabeanan serta kinerja birokrasi yang menghambat arus barang, akses pendanaan terbatas dan bunga kredit yang tidak bersaing, hingga persaingan pasar yang tidak fair. Dengan belum adanya perbaikan yang berarti di sisi kebijakan pemerintah, pelaku industri, terutama industri manufaktur, jauh-jauh hari telah merekomendasikan peninjauan ulang semua FTA yang telah diteken pemerintah.

“ Bagaimanakah mau bersaing dengan China, di sana ada kredit ekspor, rabat sampai 17 persen, listrik murah, tempat usaha dibantu, upah dikontrol, ada balai latihan kerja, dibuatkan kluster industri yang didukung pusat dan daerah, bukan hanya untuk urusan bahan baku, tetapi juga promosinya, “ kata Ketua Umum Asosiasi Persepatuan Indonesia Eddy Widjanarko.

Menurut Eddy, ketika baru akan membangun pabrik pun, pengusaha lokal sudah harus menghadapi kesulitan perizinan di pusat dan daerah. “ Industri kita dihadapkan pada prosedur birokrasi yang luar biasa. Kalau dihitung, bisa 60 meja, tuh. One stop service yang dijanjikan pemerintah tidak pernah terjadi. Proses perizinan di Badan Koordinasi Penanaman Modal bisa sampai enam bulan. Begitu pabrik berdiri, pemerintah daerah mengeluarkan berbagai perda pungutan,” ujarnya.

Belum lagi deretan masalah berikutnya terkait upah buruh, dukungan perbankan, dan ketersediaan bahan baku. Dengan semua kondisi itu, kata Eddy, akibatnya pengusaha malas membangun pabrik. “ Mending jadi pedagang aja, impor, “ ujarnya.

Kondisi itu tidak hanya berlaku bagi investor baru, pengusaha yang ada pun enggan melakukan ekspansi. Daripada mengeluarkan duit untuk investasi mesin, mereka memilih mengimpor barang dari Chna. Sebagian pabriknya dijadikan gudang. Eddy menengarai sekitar 80 persen pemilik pabrik sepatu melakukan itu. Kalaupun ada pabrik yang masih bekerja, ia memperkirakan hanya 20 persen dari kapasitas.

Kendala-kendala itu membuat industri sepatu semakin sulit bersaing dengan China dan Vietnam. “ Kandungan impor sepatu produksi kita sampai 40 persen. Beda dengan China yang bisa penuhi bahan bakunya sendiri. Sementara kita kesulitan karena kebijakan perdagangan yang memberatkan industri bahan baku sebagai industri pendukung, “ kata Eddy.

Padahal, pada tahun 1980, produk sepatu Indonesia pernah menguasai 3 persen pangsa pasar dunia. Sekarang, posisi Indonesia melorot ke urutan ketiga setelah China dan Vietnam. Eddy mengatakan, Indonesia masih berpeluang unggul di produk sepatu nonolahraga, seperti sepatu kasual, sepatu wanita, dan sepatu pesta. “ Kekuatan kita ada pada ketelitian dan kerapian. Lebih unggul daripada China. Merek-merek ternama akan tetap melihat itu,” katanya.

Merek ternama

Merek ternama masih menjadi gantungan karena membuat merek sendiri tidak mudah, dibutuhkan banyak promosi yang memakan biaya besar. Pangsa lokal sepatu Indonesia nilainya mencapai Rp 25 triliun. Merek lokal menguasai sekitar 60 persen melalui merek-merek Carvil, Bata, Ardiles, dan Homyped. Porsi itu turun menjadi hanya sekitar 40 persen setelah masuknya barang China, Taiwan, Thailand, dan Malaysia.

Bukan hanya alas kaki, anggota Asosiasi Pertekstilan Indonesia, Eddy Soekwanto, mengatakan, saat ini industri rekstil dan garmen pun sedang dalam posisi bertahan dari sebuan produk China. “ Kita menunggu mukjizat. Kalau suatu saat kapasitas industri tekstil China penih, mereka pasti membagi ordernya ke Indonesia. Jadi kita pun sudah harus siap dengan investasi mesin dari sekarang, “ kata Eddy Soekwanto.

Opsi menggandeng China menjadi alternatif ketika infrastruktur dan kebijakan penduduk tidak tersedia seperti yang diharapkan. “ Perjanjian sudah kadung diteken. Kalau kita mengelak bisa kena penalti, produk kita dilarang masuk,” ujarnya.

Sumber  :

FTA, Industri, dan Kelemahan Diplomasi – Doty Damayanti | Kompas, 21.12.2009

[Via http://hagemman.wordpress.com]

Wednesday, February 3, 2010

Olympics: Canada Style

I walked out of my hotel room in Vancouver this morning to see a flock of seagulls squacking their heads off.  That’s the most noise I’ve heard since I arrived in Canada.  Toto, we’re not in Beijing anymore.  In 2008, with the Olympic Games a week and a half away, the city was buzzing with anticipation and chaotic with last minute preparations.  Thousands of people were planting flowers, cleaning up and security was fierce.  Here in Vancouver it is so calm and low key you hardly know it will soon be the center of the universe.  There are banners, new buildings and infrastructure improvements but you don’t sense that Canada’s place in the world hangs on these games.  From what I can tell it is pretty much business as usual here in B.C.  I’ve been asking around and people tell me that’s just how it is here.  People are pretty relaxed.  Even the security here is friendly and laid back.  They greet you with smiles.  Maybe it’s because there aren’t that many media or guests here yet, or maybe it’s because holding the games here in Vancouver was somewhat controversial for those who felt the money could be better spent.  Or maybe it’s just that the only thing Canadians get really worked up about is sport.  As one young woman told me, “I’ll get excited for the men’s hockey.”

[Via http://vickycollinsonline.com]

Being a Foreign Teacher in China

I enjoy teaching English in China.  My original plan through university was to eventually become a high school or elementary school teacher, and teaching in China has afforded me with opportunities to travel that some can only dream about.  However, being a foreign teacher in China can be frustrating to the point where I want to quit.

The fact is, you can work hard or you can slack off, and you’ll get paid the same.  There’s very little incentive for teachers to go above and beyond and very little oversight from superiors in your school.  Maybe this is different in other countries, but Chinese schools attract in many ways the backpacker type, here for fun and a short time, which is reflected in their work.  I work hard, and do my job well.  I plan each lesson I teach and each lesson has clear goals that I can impart on the class.  But if I didn’t do that, there would seemingly be little consequence.

Your education level and experience also count for nothing in most places.  Whether you have a Bachelor’s degree or Master’s degree, or nothing, you’ll be making the same money.  There are no raises and few chances to move up in a company.  Essentially, it’s a suitable job for a recent grad or a retiree, but not somebody in my situation.

I’m planning to leave teaching in about six months.  I’m looking into new job opportunities in China, of which there are many, though it’s a bit of a catch-22:  I need to have good spoken Chinese for most jobs, but I can’t get that without working in China.  Teaching English is just the easiest way for me to stay here and improve my Chinese in the meantime.

[Via http://stephensmart.wordpress.com]

Monday, February 1, 2010

2010 Worldwide Frozen Food Manufacturing Industry Report-Aarkstore Enterprise

The Frozen Food Manufacturing Industry report, published annually by Barnes Reports, contains timely and accurate industry statistics, forecasts and demographics. The report features 2010 current and 2011 forecast estimates on the size of the industry (sales, establishments, employment) for the 47 largest world countries, such as Japan, China, India, Russia, Canada, Mexico, Brazil, Argentina, UK, France, Germany, Italy and U.S.. The report also includes industry definition, 5-year historical trends on industry sales, establishments and employment and estimates on up to 10 sub-industries, including frozen bread and desserts

For more information please visit:http://www.aarkstore.com/reports/2010-Worldwide-Frozen-Food-Manufacturing-Industry-Report-37254.html

PH.NO. 919272852585

[Via http://aarkstore.wordpress.com]

Daily Comment - 1st February 2010: +5.7% GDP Growth in the World's Largest Economy is not enough, apparently

Macro

+5.7% GDP Growth in the World’s Largest Economy is not enough, apparently

There is a thin line between protectionism and war. In fact there is no line between them. That is, of course, because protectionism is war. Not military action, but the attack upon another country via trade wars. One country launches an assault on another by banning the sale of their products or by increasing subsidies and/or government leverage to an alien competitor. Even in the World of textiles or beef or rubber tyres, this all gets rather ugly rather quickly. But when it concerns the instruments of war themselves: weapons, arms, defense systems… and when the countries concerned are The US, China and Taiwan… well it gets all the more potent.

Have to make a comment about Friday’s number. Did you see it? +5.7% GDP growth for the US economy! That’s a big number and the component parts were encouraging too. But why on Earth did the stock market close DOWN? Very peculiar; could it be due to the reflexivity of the stock markets – reacting to the possibility that The Fed will exit stimulus early? Could it be due, in part, to Obama’s abrasive spat with Republicans shortly after? Could it be just that the market is overbought and needs a retracement irrespective of the growth numbers? Who knows, but if you’d told people in December that Q4 growth was going to come in at almost 6% annualized I don’t think that this was the performance one would have hoped for from the equity markets…

Macro Data to Watch:

  • Hong Kong Retail Sales – we know Hong Kong is all about the shopping!
  • Indonesian Inflation
  • South Korean Inflation
  • Thai Inflation
  • US ISM Manufacturing – looks to be rising let’s see if we continue to inch towards 60.

Markets

Poor old Andy Murray, the Brit tried his utmost against the steady Swiss man but there is no substitute for the class and consistency. Much like comparing the British Pound to the Swiss Franc, in fact: one still gets 1.7 Swissies for every Quid you exchange, but only a couple of years ago you used to get 2.5 SFr!

Source: Bloomberg

In his latest comment, Ring of Fire, Gross refers, not to his alimentary escapades after consuming a Brick Lane Vindaloo, but to the prospects of the Pound. I’m afraid this is not pleasant reading for those who look to import produce (the entire British population!?) from other countries or who have assets/earnings/savings in Pounds. Gross concludes with:

Of all of the developed countries, three broad fixed-income observations stand out: 1) given enough liquidity and current yields I would prefer to invest money in Canada. Its conservative banks never did participate in the housing crisis and it moved toward and stayed closer to fiscal balance than any other country, 2) Germany is the safest, most liquid sovereign alternative, although its leadership and the EU’s potential stance toward bailouts of Greece and Ireland must be watched. Think AIG and GMAC and you have a similar comparative predicament, and 3) the U.K. is a must to avoid. Its Gilts are resting on a bed of nitroglycerine. High debt with the potential to devalue its currency present high risks for bond investors. In addition, its interest rates are already artificially influenced by accounting standards that at one point last year produced long-term real interest rates of 1/2 % and lower. 

As far as the Dollar is concerned, the rally continues. The Dollar Index has rallied over 7% since I sounded the alarm back in early December on this. One should always be wary of too many people on one side of a trade, something tells me that this rally is not over yet either.

Source: Bloomberg

Global Stocks to Watch:

  • Financials – Goldman Sachs stock hit the lowest level in 6 months and seems to be trending downwards, stock traded in decent volume last week… something to keep an eye on. Meredith Whitney called the banking sell-off in 2008, then she called for the bank rally in early 2009, then she called for the sell off again at the end of 2009 – I rote about it in November, citing:

Meredith Whitney on the state of the banks says that she has never seen this level of credit contraction. For all this talk of inflation, that pretty much puts her in Rosenberg’s deflation camp. The jury is indeed still out. Clearly Meredith thinks that the banking sector is one to watch over the next 6 months – from a volatility perspective, I do too for that matter.

             Hmmm… she’s getting quite good at this, isn’t she?

  • The big Techs drove the markets down on Friday: Apple, Microsoft, Intel – watch all the techs and tech-based economies today
  • Watch all the oil companies, especially with Exxon Mobil out with earnings today – they also got sold off hard on Friday
  • Earnings:
    • Resources: Exxon Mobil
    • Engineering: Larsen & Toubro
    • Tech: Hon Hai Precision
    • Consumer: Ajinomoto
    • Transport: Ryanair

[Via http://theinternationalperspective.wordpress.com]