So here’s my question for all of you China skeptics that insist they are building way too much housing, infrastructure, heavy industry, etc. What precisely do you want them to build more of? And what are the 100s of millions of Chinese living in tiny ramshackle homes to do? Sit tight for a few more decades while resources pour into nice urban services for the pampered elite?
I want them to start building leaf blowers, so we don’t have so many Chinese people in the low productivity position of sweeping streets. I want them to start building farm equipment, so we don’t have so many Chinese farmers tending the fields. I want them to build more laundry machines, to free the rural Chinese from scrubbing clothes on washboards. I want them to build electric stoves, so my Grandpa can put away the coal fired outside oven. I want them to build computers that can deliver cheaper education to the masses.
Instead of just focusing on “building,” I want them to invest in human capital, so productivity can be at a level that we don’t need “make work” jobs. I want them to build more schools and hire better teachers, so classes aren’t as large and you’re not damned if you can’t make it in a top elementary school. I want productivity to be high enough that high end stores don’t need more clerks than actual customers.
Besides “Shanghai Composite Index,” the Chinese characters for “today,” “tomorrow” and “yesterday” were also blocked today. “Candle” a symbol of mourning, is blocked, as is the word “mourn.”
The censors also block searches for numbers that are components of the date of the crackdown — “six,” “four,” “eight,” “nine,” and “23.” They block “35,” because bloggers used to use “May 35” as a code to get around blocks on “June 4.”
A global firm—be it Ford or Amazon or Paramount—calls into being a local economy of shops and barbers. But the road to a more prosperous America is to learn from the most prosperous parts of the country, not to imitate Chinese clusters that are even poorer than America’s industrial hubs.
For years, investors have endorsed Yum’s strategy of selling ever more fried chicken in China while reducing investment at home. This has allowed the fast-food giant to increase earnings per share by 13 percent for 10 straight years—a record it expects to maintain until at least 2020—and led to a quadrupling of the stock price. But failing on the home front carries other costs, from frustrated franchisees who are skeptical about a promised turnaround to consumers who are choosing to eat chicken elsewhere. And it’s all happening with a brand Ghanaians and millions of others worldwide are supposed to associate with high-end, American-style chicken.