Recent IMF figures showed Beijing had currency reserves of US$2.447 trillion, the largest in the world and nearly 30% of the global total.
Washington maintains that China purchases large amounts of dollars to keep the yuan artificially low, which distorts global trade by boosting Chinese exports.
So the world and U.S. especially, is blaming China for keeping the yuan low. But I'm wondering, the U.S. is happily minting so much USD and selling U.S. treasuries to solve their domestic structural problems (basically, the subprime crisis); what do they expect the world and China to do? Not buy USD? Of coz they're gonna buy and stash it up (even in biscuit tins, without interest, hahaha). Anything to hold bargaining power by holding onto US dollars.
China maintains they will move the exchange rate gradually. And I think they are right. Whether or not they mean it....it......it. bleah...;P
Hahaha. Look, I just think it's a cycle. At some point, China too, is gonna feel inflationary heat and buying power will go back to the U.S. since the Coach bags are getting cheaper and cheaper. Then as US dollars become cheaper and cheaper, manufacturing jobs will go back to the States anyway. In fact, some Chinese companies are already opening factories in the U.S. and hiring Americans!
Sunday, October 10, 2010
Climate Change - Finger Pointing Not Constructive
10 Oct 2010
UN Climate change conference 2010 - Tianjin, China
So I'm at home and reading the papers on a Sun afternoon. At the conference, China hit back yesterday at US claims that it was shirking in the fight against climate change, likening criticisms from the Obama administration's top climate envoy to a pig preening itself in a mirror.
Mr Todd Stern (US chief climate negotiator), in remarks at a US university, said Beijing could not insist that rich nations take on fixed targets to cut greenhouse gas emissions while China and other big emerging nations adopt only voluntary domestic goals.
Mr Su Wei (senior Chinese climate change negotiator) countered that Mr Stern's claims were a diversion from the US failure to make big cuts in carbon dioxide and other greenhouse gases causing global warming.
China is the world's top greenhouse gas polluter after the U.S.
"In fact, it amounts to doing nothing themselves and then shirking responsibility. They want to place the blame on China and other developing countries", Mr Su told reporters in Tianjin. He likened the US criticism to Zhubajie, a pig featured in the Chinese classic Journey To The West, which in a traditional saying preens itself in a mirror.
"It has no measures or actions to show for itself, and instead, it criticises China, which is actively taking measures and actions," Mr Su said of the US.
Erm, I don't get it. Both are the top greenhouse gas polluter in the world. Who cares what categorization of the type of country they are. Can't someone just recategorize China as not emerging and already merged? Then China would have to have fixed targets to cut greenhouse emission, alongside the U.S.
BOTH, U.S. and China, should have COMMON fixed targets to cut emissions. And quit squabbling!
UN Climate change conference 2010 - Tianjin, China
So I'm at home and reading the papers on a Sun afternoon. At the conference, China hit back yesterday at US claims that it was shirking in the fight against climate change, likening criticisms from the Obama administration's top climate envoy to a pig preening itself in a mirror.
Mr Todd Stern (US chief climate negotiator), in remarks at a US university, said Beijing could not insist that rich nations take on fixed targets to cut greenhouse gas emissions while China and other big emerging nations adopt only voluntary domestic goals.
Mr Su Wei (senior Chinese climate change negotiator) countered that Mr Stern's claims were a diversion from the US failure to make big cuts in carbon dioxide and other greenhouse gases causing global warming.
China is the world's top greenhouse gas polluter after the U.S.
"In fact, it amounts to doing nothing themselves and then shirking responsibility. They want to place the blame on China and other developing countries", Mr Su told reporters in Tianjin. He likened the US criticism to Zhubajie, a pig featured in the Chinese classic Journey To The West, which in a traditional saying preens itself in a mirror.
"It has no measures or actions to show for itself, and instead, it criticises China, which is actively taking measures and actions," Mr Su said of the US.
Erm, I don't get it. Both are the top greenhouse gas polluter in the world. Who cares what categorization of the type of country they are. Can't someone just recategorize China as not emerging and already merged? Then China would have to have fixed targets to cut greenhouse emission, alongside the U.S.
BOTH, U.S. and China, should have COMMON fixed targets to cut emissions. And quit squabbling!
Monday, January 25, 2010
Is Your Heart In The Right Place
Is It Important Enough
Before we go further, I think one has to ask themselves, is this sentence important in the first place. Or you're the type to "see what happens". Sometimes, it's ok to see what happens, but chances are, everything will become just that. The results are kind of lacklustre. If a person sees this sentence as important, chances are, they will fight to get there and stay there. Example, I want to be a good parent (see what happens attitude) VS the other person "I want to be a good parent" (and shows up for every school event, takes an active interest and participates in their kids' lives, etc). Or an employee who goes to work and (see what happens) VS "I want to do well" and goes the extra mile. Logic will tell you which person will do better. This attitude predetermines everything.
Knowing & Defining It
Now, if one determines that it is important to acknowledge this sentence, then you have to determine the "right places". The "right places" mean different things to different people. For some people, the "right places" can mean, a good career. For some, it can mean, being a good friend. Or it can even be as small as "I'm a good cook". Are you there? Are you doing the things to get you there?
Expectations Before Getting There
When you've defined it, you have to see if it's realistic. For example, if you're like 1.60 meters and want to play in NBA, it's not realistic. So have to give it up. Going down this road is just going to give you alot of heartache and disappointment. But if it's realistic, e.g. go for it. Let God take care of the rest.
The commitment of getting there
I think getting there is a journey. For the things that matter, it's tough. And I don't mince my words. It's really putting in the effort and actions, consistently, over a period of time. Forming new habits if need be, and ditching old ones. You have to be prepared to change your perception and life for it. It's easy to say "I give up" when the going gets tough. Or it's easier to say, I change my "place". But when I mean commitment, it's come hell or high water, you get your heart to that place you want it to be in the first place.
If The Place Is Meant To Be Yours
So you want it bad. But unfortunately, it's not up to one to completely decide. At the end of the day, it's still fate. If it's meant to be yours, it will be, through time, commitment and effort. But to clarify, "right place" means big picture. You can still want to be in the "right place", but the circumstances is wrong. The definition of the "right place" still stays the same, but the circumstances is not in your favour. Example, you love kids and want to have kids. The "right place" is "you want kids". But you cannot have kids - the circumstances is wrong. This doesn't change your right place of "you want kids". I think humans are resilient though and in many cases, if one wants it bad enough, it can still happen (e.g. adoption). That is why I emphasized in the previous point of your own commitment of getting there.
I Got There
And if you got there, you should feel happy and calm. Celebrate and savour for as long as you can. Life itself is transient, grab the good stuff while it lasts!
Your Own Expectations on Staying There
Don't mistake staying there to be all rosy. Again, I think it all boils down to attitude. Do you look at what you have with complacency over time? Or do you view it as a good thing and you're grateful for it? If you're those type of person who expects 100% in life all the time, I think u'll be disappointed because 100% does not exist in life. So there's really no point expecting the impossible. Rather, it's better to adjust one's expectations and be grateful.
Before we go further, I think one has to ask themselves, is this sentence important in the first place. Or you're the type to "see what happens". Sometimes, it's ok to see what happens, but chances are, everything will become just that. The results are kind of lacklustre. If a person sees this sentence as important, chances are, they will fight to get there and stay there. Example, I want to be a good parent (see what happens attitude) VS the other person "I want to be a good parent" (and shows up for every school event, takes an active interest and participates in their kids' lives, etc). Or an employee who goes to work and (see what happens) VS "I want to do well" and goes the extra mile. Logic will tell you which person will do better. This attitude predetermines everything.
Knowing & Defining It
Now, if one determines that it is important to acknowledge this sentence, then you have to determine the "right places". The "right places" mean different things to different people. For some people, the "right places" can mean, a good career. For some, it can mean, being a good friend. Or it can even be as small as "I'm a good cook". Are you there? Are you doing the things to get you there?
Expectations Before Getting There
When you've defined it, you have to see if it's realistic. For example, if you're like 1.60 meters and want to play in NBA, it's not realistic. So have to give it up. Going down this road is just going to give you alot of heartache and disappointment. But if it's realistic, e.g. go for it. Let God take care of the rest.
The commitment of getting there
I think getting there is a journey. For the things that matter, it's tough. And I don't mince my words. It's really putting in the effort and actions, consistently, over a period of time. Forming new habits if need be, and ditching old ones. You have to be prepared to change your perception and life for it. It's easy to say "I give up" when the going gets tough. Or it's easier to say, I change my "place". But when I mean commitment, it's come hell or high water, you get your heart to that place you want it to be in the first place.
If The Place Is Meant To Be Yours
So you want it bad. But unfortunately, it's not up to one to completely decide. At the end of the day, it's still fate. If it's meant to be yours, it will be, through time, commitment and effort. But to clarify, "right place" means big picture. You can still want to be in the "right place", but the circumstances is wrong. The definition of the "right place" still stays the same, but the circumstances is not in your favour. Example, you love kids and want to have kids. The "right place" is "you want kids". But you cannot have kids - the circumstances is wrong. This doesn't change your right place of "you want kids". I think humans are resilient though and in many cases, if one wants it bad enough, it can still happen (e.g. adoption). That is why I emphasized in the previous point of your own commitment of getting there.
I Got There
And if you got there, you should feel happy and calm. Celebrate and savour for as long as you can. Life itself is transient, grab the good stuff while it lasts!
Your Own Expectations on Staying There
Don't mistake staying there to be all rosy. Again, I think it all boils down to attitude. Do you look at what you have with complacency over time? Or do you view it as a good thing and you're grateful for it? If you're those type of person who expects 100% in life all the time, I think u'll be disappointed because 100% does not exist in life. So there's really no point expecting the impossible. Rather, it's better to adjust one's expectations and be grateful.
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