Misconceptions of China – Chinese Currency

August 21, 2010

Larry talks about Chinese currency and how the Western media says it is too cheap and isn’t a fair price. The media says this exports American jobs to China.

Many Americans believe that having China revalue its currency is important to America.

However, experts say that if China’s currency were allowed to flow, it would be about 1 to 5 and maybe 1 to 4 instead of 1 to 6 or 1 to 7. 

What that means is that all goods manufactured in China would become more expensive in America and Europe. Prices for products from China could quickly go up 20%

Source: ShiWoLarry

Instead of jobs returning to the US, Western companies that manufacture in China would find cheaper labor elsewhere like in Vietnam. 

In addition, changing the way China values its currency will not cause most customers from other nations to buy from the US, because labor costs in America are too high due to unions.

Larry asks, “Will Chinese goods become more expensive and hurt the US?”  He says, “Yes.”

If anything, this currency issue is more political than economical.

See Doing Business in China or return to Misconceptions of China – Chinese Wealth and Poverty

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

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2 Comments | America, business, capitalism, China, economy, media, politics | Tagged: , , , , , | Permalink
Posted by Lloyd Lofthouse

Misconceptions of China – Chinese Wealth and Poverty

August 21, 2010

In this post, Larry talks about Chinese wealth and Chinese society. He says that many believe all of China is old and while that may be true in rural areas, China’s major cities have become more modern than American cities.

He mentions films like the most recent Karate Kid, which he feels is not a good representation of Beijing, China’s capital.

The average Chinese person in the big city makes about one thousand US dollars a month. The income disparities in China are similar to those in Latin America while the Chinese middle class is still growing.

Source: ShiWoLarry

Larry says the wealthiest people in China are all business owners. However, in the US, top management of large corporations are paid high salaries compared to management positions in China. In China, to have a chance at wealth, you must own a business.

He feels that lifestyles of the wealthy in America and China are about the same. 

Larry says the cities are modern and have complex public-transport systems. I can attest to this. I’ve ridden the subways in Shanghai and Beijing and they are more efficient at moving more people than public transportation I’ve taken in the US.

See Don’t Drive in Beijing – Take the Subway or go to Misconceptions of China – The Chinese Government

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

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Leave a Comment » | business, China, Chinese middle class, economy | Tagged: , , , , | Permalink
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Misconceptions of China – The Chinese Government

August 20, 2010

This three-part series comes from a young Chinese man speaking on YouTube about Western misconceptions of China.

Larry says that one of the greatest misconceptions about China’s government is that people outside China believe it is completely Communist—a machine that gets rid of what it doesn’t like.  Even Larry’s Chinese-American friends feel this way.  That opinion is wrong.

Larry says that China does censor a few things like Facebook, Twitter and YouTube. The reason for that are because of Falun Gong, and Tibetan or Muslim (in Xingjian province) separatists.

Source: ShiWoLarry

Larry says many Westerners believe if you say bad things about the Chinese government, you will be arrested. The only instance where that might be true is if you used a loud speaker in the center of Tiananmen Square.  

Larry then talks about the few human rights violations Westerners hear so much about. The central government reacts the way it does toward the Falun Gong, Tibetan Separatists and the Muslims in Xingjian province because the Communists came to power through rebellion and want to avoid the same thing happening to them.  

After the Qing Dynasty collapsed in 1911, China went through chaos and anarchy for decades—millions suffered and died.  Any rebellion would mean a return to those horrible times and regardless of any negativity one hears or reads about China, there is a lot of good things going on that we don’t hear about in the West.

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too. 

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1 Comment | China, Chinese Culture, Chinese history, Communism, cults, cultural differences, Islam, media, politics, Tibet | Tagged: , , , , , | Permalink
Posted by Lloyd Lofthouse