Next Trip to China
I am excited about my next trip to China this October. I am not a big fan of the direction the US is headed and am worried about its long term economic prospects. China however has enormous potential. Therefore, I have decided that most of my entrepreneurial projects going forward will forces on either China or other fast growing emerging markets. It just makes mores sense to invest where the growth is.
Today more than ever, the best growth opportunities are being found overseas. 10 years ago a larger percentage of students from Asia who attended college or graduate school in the U.S. sought to remain here after graduation. Today many of these well qualified and bright students are leaving the US after graduation for better opportunities at home. Many high tech companies in the US are having a hard time finding enough qualified workers and the H1B visa restrictions and are not helping.
I believe in free markets. I also believe the best way to make money is to embrace change instead of fighting it. China will become the largest economy in the world during our lifetime. India and other countries will grow quickly as well. We should not be scared of outsourcing, we should embrace it. Instead of using tariffs and quotas as temporary Band-Aids, we should think long term and put more money into training out people for the industries of the future, instead of trying to artificially support the markets where we are losing our competitive edge.
posted by JDMBA @ 1:12 AM
2 comments
2 Comments:
China, a good opportunity for
business venture? Yes, of course,
you are only a shallowminded MBA
graduate whose primary care is
profits.
But do you realize what you are
doing by investing in China and
its artifically lowered yuan,that
is itself against the basics of
free trade concepts?
By supporting and investing in
China's lucrative business deals
you ARE ENCOURAGING THE INHUMANE
PRACTICE OF FORCED LABOR IN THE
WORLD'S MOST BLOODTHIRSTY REGIME.
Here's how it is accomplished,
Chinese leaders literally enslaved
their enormous population of
workers to work seven days a week
and for little or even no wages at
all. Often the Chinese leaders
hire thugs and gangs to beat and
drug the workers so the workers
would remain in their obedient
state of working. For reference
PLEASE CHECK THE BRICK KILN NEWS
recently discovered in China.
However, due to the extreme censor
in China and the enormous amount
of money these Chinese leaders
have spent to cover up their
shames, such news are rarely ever
covered in their own media AND
BARELY ALLOWED TO BE LEAKED TO
WHAT THEY CALLED "ANNOYING FOREIGN
MEDIA."
NOW YOU KNOW HOW YOUR PROFITS AND
HOW YOUR OPPORTUNITIES ARE
ACCOMPLISHED. WHAT DID CHINESE
WORKERS DO TO DESERVE THIS TORTURE
? ARE THEY NOT EQUALLY HUMAN?
DO THEY NOT DESERVE TO BE TREATED
WITH RESPECT?
Yes, go ahead, ignore this fact, I
just want to you to understand this
injustice practiced in this so
called "LAND OF OPPORTUNITIES"
From now, every time you make a
little money, just think about
those poor workers who are forced
into this torture and disrespect
in a HORRIFICALLY POLLUTED
ENVIRONMENT.
AND DO NOT WORRY, WHEN YOU DELETE
MY COMMENT, JUST KNOW THAT I have
already SUCCESSFULLY published
this message to MANY LIBERAL
WEBSITES, WHICH ARE MUCH MORE
POPULAR THAN YOURS.
China is not the "THE WORLD'S MOST BLOODTHIRSTY REGIME" as you claim. Many China related businesses (such as mine) do not use cheap labor at all. Regarding the value of the Yuan, I agree that it is undervalued. However, even if it were drastically appreciated versus the dollar, our trade imbalance would continue. Perhaps some of China's export market share would just be transferred to another low cost producer instead after the Yuan appreciates past a certain point. The United States will never have a comparative advantage in low cost production in the industries you talk about. Instead the US should worry about investing in the industries where we can build upon our competitive advantages and create new industries that are attractive going forward.
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