Apple's DNA

IPad2 in the conference, what jobs in the end said below a words: "I" ve said this before, but thought it was worthrepeating: it 's in Apple' s DNA that technology alone is not enough. That it 's technology married with liberal arts, married with thehumanities, that yields us the result that makes our heartssing. "" I have said this, but think it is still worth to repeat: Apple's DNA is, only technology is not enough. Only technology and the liberal arts and humanities,MLB hats marriage, marriage can cause heart let us for a chord effect." In this period of jobs in the words, "LiberalArts" and "Humanities" not the most appropriate Chinese translation. Both of our education system is actually ignored. Liberal Arts Latin what is suitable for free "(in the slave society of free or later on social and political elite) education. And in ancient times, the special manual, technical skills is suitable for slaves training. LiberalArts is actually development rational thinking and intelligence general education, covers arts, but is not limited to one a special vocational or technical training. Humanity is general science and the humanities, is the study of human emotion and moral and reason of the subject. Today our education branch of thin, more and more professional, neglect humanities, ignore a liberal, in fact cannot help cultivate thought independence and freedom. Apple's innovation, from its DNA. And the DNA is based on the combination of technology and humanity above. The lack of human simple technology,Cheap sunglasses there won't be causing psychic resonance innovation. No matter how high the speed of the iron block, whether each hour 486 kilometers, or 500 km per hour, if can't let the feast of the sick for home when people dignity of the home, then quickly high iron also just steel monsters.

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2011 the armory art fair curtain open

On March 3 to 6,, the armory and again from around the world gathered in the gallery, artists, collectors, critic and curator. "The Armory art fair" (The Armory Show) was established on The basis of The "a grammy west international art exhibition" (The Gramercyinternational ArtFair, founded in 1994), for The first few years of The art fair in Manhattan is The grammy west at The hotel guest room, until 1999, when he moved to The Armory, hence its name. The first fair exhibition gallery is only 30 home, after just after 10 years of development, the exhibitors has expanded to many 200, and become the United States and the world of one of the most important art fair. As is known to all, the armory at the beginning of its establishment art fair look focus on promoting contemporary art,New Era Hats and to the threshold of the set up quite tall also. It is also because the armory art fair in the quality and scale of high level, so from the beginning of 2003, not only of the gallery for the number up year by year, sales of art fair also constantly refresh. However, in 2009 by the economic crisis after the impact, the armory art fair also adjust their orientation, in keep its old brand-" contemporary art "made at the same time, and in 94, near the pier wharf number 92 opened up a special" modern art ". This year the armory art fair is still divided into modern art and contemporary art two galleries, a total of 274 from all over the world, the exhibitors. However, 2011 the armory art fair also the United States by the art Association (ArtDealers Association ofAmerica) art fair, "Independent (Independent)" art fair and VIP art fair, the challenges of the young guns. Pace gallery (PaceGallery) and David? This Werner gallery (DavidZwirner) and some other top galleries have been fleeing the armory fought and other art fair. And, this year the Chinese gallery also only Beijing Boers-Li gallery. But, the the armory art fair don't fade. 2011 the armory art exposition of the study is Latin America, in Latin America in the section of the exhibition, from Argentina, Brazil, Chile,NBA hats Colombia, Mexico, Peru, venezuela, Latin America's large number of gallery. And Mexican artist gabriel? Garage (GabrielKuri) also was commissioned to create this year the armory show art exposition visual effect. This no doubt in Latin America in the development of contemporary art added thick a pen.

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The beijing-shanghai high iron is not the panacea

The beijing-shanghai high iron opening, natural become China of the development of regional economy a great thing. The investment of 220.9 billion's big MAC project, outside the three gorges project and coordination. No doubt, the beijing-shanghai high iron opening, it's easy to think of the eastern United States railway. New York-Washington article this along the railroad built-Philadelphia, contact the America of the political center and economic center, focus on the best American social and economic resources, greatly promote the development of the eastern United States along the railway and finally became the United States a very important economic belt. Similarly the beijing-shanghai high iron also focus on China's economic characteristic extremely long triangle of three second with two big economic circle: the bohai sea, also links the political center of Beijing and Shanghai economic center. Sure can promote the of China's GDP more than 40% of the area, further integration, and development. But for the beijing-shanghai high iron opening, also cannot too high expectations, to clearly see the beijing-shanghai high iron is not is panacea. This from these two years along the beijing-shanghai high iron city development can evidence. Beijing, Shanghai this two core cities, this years along with the economic structure adjustment,New Era Hats the economic growth rate dipped again and again, in 31 provinces in the development of the basic lower speed. And in the beijing-shanghai high iron along of cities, the common economic development not very fast. Although the beijing-shanghai high iron and not opening, may promote along the economy was not full play. But must see, jinghu high iron the opening of the time is expected. Which means, of the city along the beijing-shanghai high iron would have been using the concepts of investment promotion. For these cities in, investment promotion, the most important continues the industrial transfer, industrial project is the main force. And industrial projects is a cycle, means that if these projects beijing-shanghai high value of iron value of words, will advance into the construction, cooperate the beijing-shanghai high iron together after opening into the production stage. So, watch this years these city industrial investment growth can be used as a measure of beijing-shanghai high to these cities of iron value of a very important index. Then we select the beijing-shanghai high iron on the city along the several important, from its 2010 years of statistical bulletin perspective. We will find jinan GDP is 391 billion, up 12.7%, xuzhou GDP is 286.6 billion yuan, up 13.9%. Nanjing GDP is 501 billion yuan, up 13.1%. Jining GDP is 254.2 billion yuan, up 12.9%. GDP1362 zaozhuang one hundred million yuan, up 12.6%. From the city to see GDP growth, basically at below the average growth rate of the space. Especially a few cities in shandong province, more at very low growth. And industrial investment perspective, jinan industrial investment of 66.7 billion yuan, up 23.2%. Xuzhou industrial investment of 110.6 billion yuan, up 25.7%; Nanjing industrial investment finished 160.1 billion yuan, up 23.1%. Jining industrial investment is 73.8 billion yuan, up 26.2%, the second industry zaozhuang investment of RMB 40.8 billion, only 15.4% growth. These data, compared to the Midwest basically over 30%, even 40% of the industrial investment growth to see, is relatively low. This from a side show, the opening of the beijing-shanghai high iron did not change the whole China the new pattern of regional economic development. That is the beijing-shanghai high iron of the layout of the coastal areas, into the economic structure optimization phase, undertake industrial transfer main position is in the Midwest, and not is coastal areas, even in this area, the relative is not very developed zaozhuang, xuzhou and other regions. And in the beijing-shanghai high iron along the route, the only one to keep the high-speed development of the city of tianjin, more is to rely on the support of national policy, larger project investment maintained a high growth. Rather than by jinghu high iron bring opportunity. In fact, the reason the beijing-shanghai high iron construction and can't fundamentally change the trajectory of the regional economic development. Are the main reasons why the decision by several aspects: one is currently has entered the integrated traffic system era, high-speed railway is just one of a kind. And aviation, highway, railway, waterway and common way. Also means that only by a high iron, it is very difficult to greater level of change of the direction of the allocation of resources. 2 it is at present the layout of the high-speed railway not pure the beijing-shanghai high in iron, at present the country has been pushing the four horizontal high iron construction plan, had been in the national layout. Early in the beijing-shanghai high iron before they have opened wuhan-guangzhou high iron, zheng west high iron, means that the beijing-shanghai high iron is not high in iron rare resources, so lateral comparison beijing-shanghai high iron scarcity value greatly reduced. Three is high speed railway in saving time, but also in improving the cost of the trip. The cost of ascension that decided the beijing-shanghai high iron more from structure of air travel in Shanghai instead of the group, and for the dial of the people instead of, time advantage is not obvious, before flying from Shanghai to jinan time will not sit high iron than current time long, also means that the concept of time and space narrow and not expected. Four, the beijing-shanghai high iron opening, in part to bring the industrial transfer low-grade, to high-grade industries, especially the financial this kind of high-grade service industry,buy sunglasses it will bring along the city to siphon effect, will further increase the resources to Beijing, Shanghai gather strength. That existed before the city along some regional advantage loss instead. Such as jinan, nanjing may further become Beijing, Shanghai high-grade service industry of the radiation area, its economic heart instead of Beijing, Shanghai take away. Of course, for the opening of beijing-shanghai high iron is defined as the argument on the medicine is not everything, but the beijing-shanghai high iron must also or a dose of medicine. Or will to a certain extent, to promote China's coastal economy, especially long triangle circle and the development of the bohai economic circle. Only the development situation, that is about to see how these areas the beijing-shanghai high iron of the opening of the era, enhances strong points and avoid weaknesses, develop their comparative advantages, seize the opportunity, further large area of the overall strength.

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Import famous brand price is three times of London mysteries

The author has just come back from the United States and Europe, some new feeling to sharing with you. A year ago, I did put forward in Thailand after the "why China commodity prices high Thailand?" , the slightly differently, put forward in "why China brand clothing imports than Europe and the high", after trying to compare the related service price, and try to find the cause of the price differences behind. ?Domestic brand clothing import price is higher than many foreign countries. Imported one brand clothing, in the 1 pound = 12 yuan RMB exchange rate level, the itc shop price is shopping center of London shop 3 times. According to the trade goods can be "a price" principle,baseball hats the domestic price should be consistent with foreign price. Otherwise, it will have the trade through the low price from the overseas import this kind of goods realize arbitrage. If in the "a" price principle, no tariffs and no other transaction cost assumptions, the differences should be caused by the exchange rate. Considering the "a" price principle is completely free trade in under assumptions that the theoretical conclusion, and completely free trade environment is not exist, then international brand clothing import prices higher than London three times, and may also not quite exchange rate issues, there must be other factors and some transaction cost. ?Different tax levels should be a reason. France, for example, clothing export tax rebate rate is 12%, if Chinese clothing import duties higher than 12%, became one of the factors of the different price. ?Itc club shop price may be the high rents another cost price clothing. International trade is located in China's high-grade consumption area, the rent is not the most Beijing, also is to belong to a high level category. "Sales site" belongs to non-grade product, were not too much comparability. But because the price difference is too big, do not exclude from the absolute Numbers, traders have rent considerably more than the popular shopping center London rent levels of possibilities. ?Brand agency cost may also is the high price of one of the factors. In order to prevent damage of fake and low-quality products brand image, the import brand clothing general with monopoly agent form. The sole agency actual form market monopoly qualifications, typically by paying way to getting the agency cost. And the entry threshold not too low, agency costs general will be passed on to consumer prices go up, making imports of brand clothing spread further widening. ?This is why the domestic appear "act as purchasing agency" professional reasons. The act as purchasing agency can be eliminated all the above or part of the cost, can put the price of purchasing goods covered in act as purchasing agency costs, such as air tickets hotel and so on spending, and getting the corresponding profit, also less than international class stores in the same kind of goods prices. ?The concern is that if the purchasing of high profits that the transaction cost is high. The author not detailed proof actually high to what degree, but seeing Chinese tourists popularization department store in Paris "set" is like buying Chinese cabbage like Louis Jordan's purchase lady bag, also had to guess, agents in these costs on the left after pricing is not reasonable excess monopoly profits space. ?The reason of the difference between qualitative analysis, the conclusion is, the brand trade into French, British open global market, especially in the patents into emerging market countries of the market, but still accord with "the theory of comparative advantage". But here the resources endowment advantage the meaning of non-traditional factor endowments bring price advantage, but "design", "process", "brand" and other intangible resources advantage. Therefore, the price is not completely according to the element cost and decide. In addition, the Chinese "show off consumption" preference, existence of monopoly agent opaque, obtain high excess profit pricing, are seemingly at home and abroad and per capita GDP don't match "unreasonable" the causes of the formation of price. But seeking truth from facts, high price clothing imports also display the current RMB exchange rate has set up a file in the certain level by overvalued. ?But the author does not think that, at this stage of luxury is China's consumption stimulate domestic demand focused on face. Only basic consumption growth of real ascension, can bring to the domestic demand growth cycle, and became the economic growth in the basic driving force. ?The price of non-tradable industry services, is completely different. The author experienced the hotels, restaurants, guide, and a museum and so on many "service", also very naturally with domestic similar services of professional practice more. All prices are higher than domestic service to many, the five-star hotel in one to two times higher. And the "money" more "expensive", the greater the price difference. Pounds than euro expensive, than the euro dollar expensive,Cheap sunglasses so, same conditions of the hotel, the same level of the restaurant, the French than the American expensive, British than in France expensive. The product price difference non-trade, exchange rate is obviously important factors. The author can not help exclamation, if one day the RMB exchange rate rose to 1 pound = 4 yuan, China all the things including services will than the American expensive, than European expensive. ?Service prices high, in addition to the exchange rate, the quality of service is an important reason for the difference. Compared with domestic service, Europe and the United States provide the services more "professional". If this "professional service" and domestic in the same hardware but the situation of low prices provide "service" compare, most of the time, the high price of Europe and America is still of value. ?Americans value quite "worth", actually high quality service "intangible enjoy" higher value, and service level's GDP growth can be more than actually show a country's social and economic development level. If people to realize the third industry development and transformation, from two aspects to change the idea, from the perspective of supply, the service industry development level and the level of fees is matching. Because of high quality service providers are "professional". View from the demand, the service industry development and earnings growth to match the level. Always hope free service, service industry is can't development, income level can't improve gradually, the service will be greatly restricted.

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Talk by railway

To complete investigation the truth, to start accountability mechanism, to break between the railway system one 7 · 23 "move the car tracing cauda tragedy happened so far, has been more a week. Although finally released the results of the survey is yet to be more time, but according to both reports and railway, and other aspects of the information can be judged, accident originated mainly from" cases ", not "natural". Premier wen jiabao on July 28 to wenzhou, and families dead dialogue, and close to the scene of the accident met with Chinese and foreign reporters, ask a probe the accident, to the public a "sincere and responsible account". The move by the public and the media car accident increasing concern recently reported that news more open, transparent, some of the key accident information released gradually, the public and public opinion there are some discussion and even doubt, criticism. Power guidelines, and this is the norm of modern society, to improve the government credibility, the promotion of the railway system reform, is a good thing. Public criticism and the suggestion, it is the power of the reform.Now look, the event had two principal deserves reflection: the first is how to a comprehensive investigation, make clear the truth, and on the basis of start accountability mechanism; Two is to accelerate the railway system reform,New Era Hats adjust to institutions as the breakthrough, promote the railway system "separation" "management office separation" reform. Is accountability is concerned, the most important is to find out the truth and public as soon as possible. Long the world has passed away. But, these innocent life lost, need a "sincere and responsible account". Those who be worth green young life, those starving babies, the parents without children, those in mischief hasft wings family, were required to find out the truth and the responsible to justice. At present, as the state council departments of mor and railway operation and the responsible departments of the accident cause investigation and deal with difficult to have credibility. Therefore, in order to open, transparent as the goal, abandon the old "internal investigation, afterwards bulletin" approach, the response of the public concerns, in the "save first, compensation in place", under the premise of should absorb experts and public representatives involved in accident investigation, timely survey released the latest progress and conclusion, timely start accident accountability procedures. To investigate the accident, the whole process must open and transparent investigation. At the same time, as some of the constitutional scholars advice, but quoted the "constitution" to article 71, the National People's Congress or the standing committee of the National People's Congress on the accident investigation committee established special, widely collect all aspects of information, develop independent, neutral survey, the results to the public. This attempt, in the law have the process security, some local precedent for success. That year "sun zhi-gang" occurs, also have scholars call for a special investigation committee established the National People's Congress, XiHu fails to become reality. The public and the academic circle are looking forward to the move the car accident can "wake up" years of the "constitution" deep sleep article 71, let the National People's Congress or the standing committee of the National People's Congress in particular issues, and broad public dialogue, to perform the administrative organs of the supervisory responsibilities. Reflect on another, the accident once again that railway system reform is imminent. The accident. On the surface is the signal system caused by fault, but in fact is long-term indistinction between the railway system, low efficiency of system design. The accident on the railway system reform again the alarm bell: the light to seek speed, not reform, will have a great things. This year after the Spring Festival, the former minister liu zhijun was found, the publisher has published an editorial "railway of reform cost" (see this 2011, 18 (1)) points out: the both government and enterprise still dual functions, is the industry competent administrative department, and direct management the railway transport enterprise, decision making process cumbersome and "YiYanTang", in operation on expression is "soft budget constraint", the investment risk no clear subject, its mechanism and China gradually turned to the market system supporting the integral pattern of highly. The accident is the price of blood to proof, if no railway management system of the fundamental reform, if cannot effect a radical cure railway system indistinction between the management office, regardless of the illness, it is difficult to put an end to such accidents. As liu zhijun step down, railway system of anti-corruption is developing in depth, railway construction and development strategy also faces to adjust; At the same time, the railway system reform is also carries forward, originally from belongs to the ministry carries institutions, is being detachment. This is in the right direction, take the first step. Ll railway reform, both operating system reform,buy sunglasses including investment and financing system reform, and separation reform as the first step. To do the separation of feasible strategy is the "big traffic" framework, on the future of reform of the state council bodies, to merge into the department of transportation, to plan as a whole highway, air and water, railways and other management. At the same time, take the institutional reform of the advance traffic management system reform. Railway shall be the direction of the reform of economics-conflicts designation: in the future, the government should not to directly used as operators, investment and financing the main body, must pain determined to achieve separation, and to let go of market access and regulatory monopoly enterprises as the core, established a fair market competition rules. After the reform, the duty of the government to focus on supervision and monopoly enterprises, the maintenance of market order, to ensure the universal service and railway safety operation. The moving car tracing cauda accidents, and its relatives and friends to dead is a tragedy, to those in power is undoubtedly a class teaching is profound. Whether the accident investigation and accountability, or further reform of the system of the railroad, shall be for the people responsible and reconstruction in the premise of the government credibility, to, make fundamental adjustment. Let's wait and see.

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50 billion baidu

If the market value calculation, baidu.com (NASDAQ: BIDU) is China's largest Internet company. The company recently six quarter net profit growth are almost more than 3 digits, its shares also rose more than 70% for the year. But the Chinese family wealth list according to the second LiYanHong is not high of have nothing worry about. On Tuesday, the second quarter earnings of baidu, according to total revenue in the second quarter baidu for 3.415 billion yuan ($528.4 million), up 78.4%; The second quarter net profit of 1.633 billion yuan ($252.6 million), an increase of 95.0%. On the same day, baidu shares rose 5%, to $164.36. In New York trading hours after dish rose 6.5%, to $166.74,baseball hats after trading hours from dish high of $170.51. Baidu stock price $96.53 from earlier this year, July 26, rose to $164.43. Baidu stock price over the past year more than doubled. In the past six quarters, in addition to just the past two quarters, the remaining five quarter, baidu net profit up all more than doubling the fastest is 2010 in the fourth quarter, even growth of more than 171%. In August 2005, baidu IPO, earning 319.2 million yuan in baidu ($39.6 million), six years later, baidu a quarter of income, is that year 11 times earnings. Google last year from mainland China to retreat, its market share has constantly been baidu nibbling. According to analysys international statistics, quarter baidu occupy more than three-quarters of the ratio to 75.8%, and Google is reduced from 19.2% to. 2010 quarter, baidu and Google's market share ratio of 64 to 31. For more than a year, baidu and Google in China; the total market share up to 95% without any change, in other words, Google lost many market, baidu all income bursa. At the same time, sogou and tencent soso and netease youdao "three small", is in fact in the other 5% of the market, to a "zero and" game. Sogou input many resources for the business development, including input method, the browser and search three push, but 1.5% of the market share, make the short term, baidu's dominant situation doesn't change. With Tuesday closing price calculation, baidu selling for $57.3 billion, with day, tencent market value of about 49 billion dollars, baidu than tencent. From income, baidu to nearly half behind tencent. Total income for the first quarter of tencent 6.3384 billion yuan (us $966.8 million), profit for 2.8842 billion yuan (us $439.9 million). LiYanHong individual holding more than 16% baidu, about $9.2 billion, that's about 59.4 billion yuan. Baidu almost all income from click generated advertising. Baidu CEO LiYanHong said, baidu in the development of many and mobile phone related services and system. Baidu previously published statements, the company might be in the development of mobile phone operating system. Baidu and Google income mode (NASDAQ: GOOG) and there is no big difference, but Google apparently more tentacles. In the mobile phone operating system, Google andros system has been more than apple ios, become a global use most, baidu in mobile phone operating system market to catch Google Android, is not easy. Baidu current p/e ratio is more than 80, higher than most china-related shares, such as netease (NASDAQ: NTES) p/e ratio is just 17. In fact, Google p/e ratio is also less than 23. Baidu June announced investment online travel web sites where to search, share ratio of more than 50%. Where to financial income, will be reflected in the third quarter earnings baidu. But acquisitions to sustain growth baidu. July, baidu announced and Microsoft bing cooperation. This cooperation symbolism than real significance. Bing in domestic neglected, baidu search field in English basic 0. Baidu not hope the Chinese search go Google, come to bing. Microsoft also don't want JiangLong Google outside, again many rivals. The hot social networking sites, Google and not because of the failure of the buzz and wave and give up on this market. Google recently online Google + should have an inspiration to baidu and Google + online three weeks, the user has more than 20 million. LiYanHong in the second quarter performance phone conference say, baidu is also in the development of new social network products. If baidu want on social networking sites have as, not only to face the stronghold version of Facebook website everyone nets (NYSE: RENN) and happy nets challenge,Cheap sunglasses and tencent's product competition social networking site. To baidu for, because sina micro bo rise, tencent and sohu put serious money to compete for market, two for the search business investment will inevitably limited, baidu will expand the market share. Google are worth more than $200 billion, is baidu's more than three times. However, the biggest question to the outside world baidu is, baidu is called China's Google, and how to "more to understand" outside China, "more like" Google. "More to understand" even do it 99%, also need 1 ° "more like", to reach 100 °. Obviously, it is difficult.

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Fair value

I give is preparing to investment company named for Fair-valuecapital, to remind you, no matter be or do investment, want to seek a Fair price, don't even think of to take petty advantages. Remember that mans case say that word, if you want to get something special, the best way is to let you deserve it. Before learning valuations, clearly remembered the fair value of a definition: voluntary, not from any of the stress apples-is, that all information in related transactions after price. This definition was that I remember profoundly, because it I understand people of a free meaning: social value maximization foundation is a person value maximization, and a thing only buyers how valuable is your most personal clear, if not let personal freedom to express and freedom to voluntary voluntarily choose, there must be no talk about value maximization. Of course this is infrastructures. Questions that need to be discussed in, voluntary trade means apples-is will profit, but this is just how the how to distribute the fair? Buyers have consumer surplus, is using value (usevalue) must be greater than the changing value (exchange value), sellers have producer surplus, change the value (exchangevalue) must be greater than the costs (cost). Here is not actually happened to cost cost, but an opportunity cost. In fact, a voluntary trade is equivalent to a distribution of interests, the distribution of the object is the buyer with value and the cost of the sellers of the difference. How cent? I like the Talmud "controversial clothes principle" : two people for a dress, a person with all of its requirements, another request to have the half, the first for three quarters, the second for a quarter. Reason is that there are two personal requirements half, only one half were asked, then the other half is not controversial, we put the controversial one person half, not to give the dispute another person. If the sellers and the buyers, the opportunity cost of the most use value are clear, if I said above and follow the principles, fair price nature is easy to draw. But the problem is, the opportunity cost of sellers only sellers most clear, the most use value of the buyers are only the most clear buyer, so, let all known and fully digest trading all relevant information is very important.buy sunglasses I hope that all of the transaction can in line with "the tower zehnder, in principle, don't even think of each other to cheaper. Want to know, can divide of the interests of the two head, that is, the value and the buyer with the cost of the sellers not constant, it may be possible to both ends to the interests of the greater the growing points. I have a lot of such experiences, when focusing on points, short-term perhaps to take advantage, is ultimately suffer, but focus on big "using value", then must be joyful harvest. If I am in Shanghai have buying and selling two house experience, very will tell. In early 2007, I think can live in Shanghai, he decided to buy a house, because if you're at a local live for a long time, have their own house is "using value" very high. For this reason, though prices are expected to fall, I didn't listen to go up to still drop, at the market bought a can see century park view of three rooms. The results, and two months when we transfer, the house rose by 30%, but I want to, even though I have risen 30% price bought, nor too disappointed, because "the using value" is high enough. In early 2009, after the child is born to the explosion at home, I want to change a set of four room, was at that time in the yanlord have two choices, one is small four room, one was a senior room, the latter good many also your many, but we want to, are choosing. The result, there is a small four room trading opportunities appear: if immediately sign, can be below the market price 10% of the price of the trade. Big deal! I will save (choice. The result, the house when the flower temperature control system and general, that summer and very hot air conditioning can't, open air conditioning and too cold, less than a year old child so sick, necessary, change rented a room that is big 4 I think at that time to buy the house. And at the same time, to the small four room sold (although the three month 40%), again want to buy a set of four room, but the price has been rise didn't want to do, to now, that set of senior house price is was doubled. And I, when a "big cheap", and the result is a big loss, so far in Shanghai or rent to live. These experience make me understand, trading is distribution, fair, or even eat some kui person doesn't matter. The important thing is, you must buy what you want, then put it "using value" maximization. Live and do business, making investment can apply this principle. Used in life, is buying things must oneself want. Don't like female 姟 son buy clothes, good clothes don't think you do not want to buy, but because discount cheap is whether you want to buy a lot of, the result is all in the wardrobe, a year also't wear a, with the basic value is zero. Applied to do enterprise, is to learn to buy the gree purchasing principle: quality is the first,Discount sunglasses price said, because even if cost a little higher, gree can create the best in quality, consumers "using value" the biggest products. The Times also to learn the beauty, considered cost-effective, but don't light figure cheap. Used in making investments, which is in focus on the company isn't is good company, long-term have the ability to create value, and not very particular about valuations. Maotai since 5 years so far up 60 times, valuations have actually the most doubled, the rest of the 30 times earnings growth is.

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Farmer cooperatives and common industrial and commercial enterprises significant differences

"The key to solve the problems concerning agriculture, countryside and farmers" series of articles (4)? In order to ensure farmer cooperatives basic function, foreign need to farmers to modern market in cooperative with the industry in general industry and commerce enterprise competition and make a profit. However, if not the government's support, the farmer cooperatives is itself can not do this. This is because, farmers and cooperatives general industry and commerce enterprise is very different. First of all, both in function and nature have very big difference. Market economy is born for the common industry and commerce businesses are ready, and ordinary industry and commerce enterprises are born for capital ready. Common stock enterprise take the form of industry and commerce,baseball hats in accordance with market economy "efficiency" principle organization, in essence is the personification of the capital form, the pursuit of capital profit maximization, according to equity, determined rights and interests. Farmer cooperatives is to solve the problem of "agriculture, countryside and farmers" design, its system value and historical mission is to be in the economic development of a country the third stage, promoting the industrialization of agriculture, "take" back to the agricultural products processing and circulation, most of profits, will the income of the peasants level to the average level. Farmer cooperatives cooperative economy according to the principle of "equality, fairness" organization, in essence is vulnerable group "BaoTuan heating" cooperation economic association. Farmer cooperative itself and no profit maximization demands, but it seek membership benefit maximization. Therefore, it for all the members of foreign pursuit of profit maximization, and according to the principle of "equality, fairness" profit distribution. So, the various countries to the nature of the farmers' cooperative fixed position is "not to profit for the purpose of non-profit organizations", and takes it as its enjoy preferential policies the basic foundation of the government. Secondly, both in the internal institutional arrangements exist on a major difference. Under the conditions of market economy, efficiency and fairness in certain economic form or economies often contradictory, not have both. The real solution is generally, in the maintenance of market economy "efficiency" at the same time, again complementary with other means to carry out "fair". Agricultural industrialization and modernization solutions also is such. When a country economic development into "the third stage", which objectively need two kind of enterprise form to meet the social and economic development of the different requirements, one kind is common of industrial and commercial enterprises, they follow joint-stock organization, meet the market economy "efficiency" requirements; Another kind is the farmer cooperatives, they follow cooperation organization, meet the social economy, "fair" requirement, in order to make up for the deficiency of the market economy. Due to the above "division", the farmer cooperatives system in "efficiency" on congenital deficiency: (1) "second rebate" and "limited accumulation" will inevitably lead to the cooperative own accumulation deficiency, "limited capital stock dividends" obviously against cooperatives to recruitment investment, and "limited big shareholders" also was disadvantageous to the cooperatives attract investment. (2) the cooperative management system lack of incentive mechanism, because managers do not have residual claims. This will reduce the improvement of management, improve efficiency of enthusiasm, at the same time, it may be tempted to managers shirking, or instead seeking hidden gains. (3) in order to increase the opportunity cost of managers, farmers a convenient membership to the supervision of the cooperative system, such as, business premises financial report, convenient membership access, allow members of audit, this will surely increase supervision and cost. (4) in order to ensure member rights, cooperatives establishes a relatively democratic decision-making process, the inevitable reduces the decision-making efficiency, increased the cost of decision. For example, China's law on farmers' professional cooperatives regulation,Cheap sunglasses decided to the production and business operation activities of the important issues, the member's congress shall be convened a vote, and attendance should achieve members of the total number of 2/3 above, membership total voting rights must be more than half. Obviously, the farmer cooperatives system "efficiency" is the lack of farmers' cooperative perform "fair" mission premise, is it effective operation must pay the price, and all of this is from a farmer cooperatives historical mission of the decision. For market economy for, farmers lack of "efficiency" cooperatives in competition starting point is to lose in the same profession ordinary industrial and commercial enterprises, and therefore could not with the "equal competition". Therefore, the farmer cooperatives need external economic strength of support, can under the conditions of market economy survive and participate in the competition. This kind of external economic power mainly comes from two aspects, one is the government support, 2 it is social donation. For farmers have the survival significance of cooperatives is the government's support, including legislative support, finance and tax policy, and the financial support and preferential credit of government organized, and so on.

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With what said China and 30 years high-speed growth

On September 28, the famous economist structural came to sun yat-sen university, with "economists in the eyes of public opinion and the news spread phenomenon" is making a speech about. He thought, now the us and European economic crisis is "a crisis of the two stage". These countries have excessive before the spending on welfare, the results of a private bubble break, tax also didn't, the economy also negative growth, public debt is serious. From now on, another 35 years, western economic downturn will in the state. In China, structural thought the situation more optimistic. He said, "China is now some problem with inflation, a real estate bubble. But I don't think that appear economic stagnation. In 2008, in 2009, in order to cope with the crisis, our country executes a large number of government stimulus. If we don't do something wrong, China should have 30 years of growth overheating growth has in the past.buy sunglasses But China's rapid economic growth to keep 60 years, is reasonable thing." The structural these claims, give a person with take it for granted that feeling. As a community of domestic economic optimists, structural economic growth in China is but the reason, 2008 by Wall Street credit crisis caused by the global financial crisis spread, but China's capital markets and securities market basically has not open up to the outside world, from capital ways, by the financial crisis affect China less. China is still in the early industrialization and urbanization, in the process of industrialization, investment will continue to promote China's economic development, and so on. In fact, more than 10 years, gross domestic product (GDP) of the annual average growth of around 10%, largely satisfied in China to manufacturing devotes a lot of resources and cheap financing, in this process produced beyond China's family and enterprise consumption ability of the products, the remaining products export to overseas, of which a large part of the western countries such as America's consumer absorption. However, all that has now changed. In Europe and the United States relies mainly on the economic model of debt for consumption after bursting, residents purchasing power, reduce the demand for Chinese goods. A significant change is, in the 2011 years, China's economy has entered the "slow growth implicit stage". Value added of industry slowdown, industrial inventory up, and developed economies face downside risk, leading to a Chinese macroeconomic regulation and control policy is "overshoot" concerns. At the same time, the value added of industry seems to also appeared a slowdown. In June this year, the state department by the Chinese academy of social sciences and work letter jointly issued the report said that in the first half of 2011 value added of industry is expected to grow by 13.5%, lower than the same period last year's 17.6% growth, also less than 1 to 14.2% in April. Even more important, China's rapid growth has far beyond the limits of their own resources. At present, the domestic oil, iron ore, wood, potash, soybeans and other commodities external dependence at 50% to 70%. However, this factor there is almost no were included in China's economic growth forecasts. According to British petroleum (BP) of the world energy statistics yearbook show that in 2010, China more than the United States as the world's largest consumer of energy. China accounted for 20.3% of global energy consumption, more than the United States accounted for 19% of the world's level. And now the global energy consumption rate reached the highest level since 1973. In addition to energy outside, still some problems worth attention. China's "iron + oil" industrialization, and "reinforced + cement + car" urbanization, not only promoted the Chinese steel industry capacity expansion, and at the same time makes China's GDP expansion to the limit. For nearly 10 years, China's steel output has increased by more than four times. Since 2000 nearly a decade, China's steel and iron industry suddenly rush to accelerate. In 2005 China's steel output shot up to 355 million tons, in 2010, to 650 million mt. Because of China's economic development is not balanced, domestic demand insufficiency, high investment, foreign demand recovery slow growth mechanism is difficult to a change, as the government credit squeeze, can go to the country's economic bubble similar after ten years of stagflation. From 1991 to the early 2000 s, in the last 10 years,Discount sunglasses because of the capital market and the bursting of the housing bubble, Japan's economy slowing abruptly, almost long-term economic stagnation, be economists called "the lost decade". In the 1990 s, people have put a similar reason, demonstrate, "Asian tigers" can continue to expand. But the results proved that they but is based on excessive investment on the basis of a mirage. Japan, Taiwan and South Korea are only keep the high 30 years--China came to this pass. Japan in the preliminary stage of industrialization ended, growth rate dropped by half, in the next 25 years economic the average annual growth of 4.6%, then slow further. In fact, China's future economic growth will appear systematic slow down, it also means that from 1980 to and economic growth of China miracle, may end there. From the second half of 2011 began, China serious inflation will cause the government more severe macroeconomic control, lead to economic slowdown. In addition, rely on cheap labor supply of the formation of the unbalanced economic development, will receive systematic thoroughly liquidation. The settlement has two signs, a place of financing platform is clear; 2 it is the bursting of the housing bubble. In this sense, the structural "China with 30 years of growth" point of view is untenable. In fact, any national economic growth has a degree, when they reach a certain after the rush hour, it down will be inevitable. In the next 10 years, China's economic growth may be from the past 20 years a dizzy height, reduced to 5% to 7%, or even lower levels. This is bad is also good. Especially in today's various resources shortage in the backdrop, China needs to strengthen the confidence of the rapid economic growth, but also need to the confident awake and reflection.

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The prime minister wen jiabao: wenzhou crisis of radical solutions in the full open financial industry

The people's bank central subbranch of recently released "wenzhou folk lending market report says, wenzhou folk lending market scale has reached 110 billion yuan. The daily economic news quoted clsa folk lending research report said the, wenzhou's folk outstanding mortgages may have as high as 800 billion yuan to 1 trillion yuan. Pedestrian wenzhou central subbranch of a folk lending end of questionnaire survey shows, accept polled, 89% of the family personal and 59.67% of enterprises to participate in the folk lending. Wenzhou small and medium-sized enterprise promotion association President said messina,baseball hats wenzhou folk lending rate has exceeded its record high, the current general you borrow-and that is per month has reached 3 to 6 points, some as high as 1 Angle, and even higher 1.5 Angle, annualised rate is as high as 180%. In the interests of the tendency, the wenzhou almost the whole people to participate in an folk credit. The wenzhou folk crazy lending face crash ", combined the morning paper nets http://www.zaobao.com/cz/cz110910_001.shtml. Small talk, a friend says, because the loans difficult, high taxes and the monopoly of the state-owned enterprises, and small and medium-sized enterprises more and more difficult to do, some owner turned to usury. Little imagine usury to money fast, die quickly. For most people borrow usury certainly is the remedy is worse than the, rely on the survival of usury enterprise one day it will happen fund chain rupture. In a market economy today, very easy to produce fund chain breaking a domino effect, the enormous social destructive power. According to the report, in April of this year began to wenzhou small and medium-sized enterprise capital chain will break, as many as 90 enterprise boss owes the debt and flight, preliminary estimates the credit scale to reach 20 billion yuan, of which, when there victims of usury. The state council premier wen jiabao has led including central bank governor zhou xiaochuan, finance minister XieXuRen etc official group to wenzhou research, in order to solve the problems. It is said that will let bank launched the suspension of the dunning, and prevent the boss flight and so on measures. The wenzhou folk lending rate to finance official crazy wen jiabao wenzhou supervisory "eastern wealth nets http://www.zaobao.com/wencui/2011/10/hongkong111005n.shtml. In fact, such events are not this year just some things, also is not only of wenzhou. Just because of the media not deliberately evades for the people know it. A few years ago his colleagues told the jiangsu taizhou happen usury capital chain rupture, the boss of suicide many news, jiangsu SiHong the jiangsu province this year the poorest county "BMW township" myth finally burst, usury is also to blame. But this time, wenzhou crisis comes viciously, especially serious: because JuanRuZhe is not just a group of malicious PRD usurer, and rely on usury production enterprises, but also because it's huge. How to solve the problems for all Chinese people's long-term well-being. I agree with the above "defer dunning, and prevent the boss flight" and other measures, but at the same time that the only temporarily being forced to move, and the solution for a long time. The long way is??????? One word: comprehensive open financial industry! Shore-nets reasons: first, in the financial is one of the economic rights, economic rights when it equal, if only allow some into banking, is the equal right of infringement. Second, if only allow some into banking, would cause monopoly, monopoly the economic damage is self-evident. Third, the further by the monopoly of the financial industry is the moral crisis: they get from the monopoly profits, and bad consequences will play to the people, by the people buried list. When zhu rongji government for bank bad debts when the bill behavior believe that people have not forgotten. A new round of government for bank bill will soon to believe. The government's money come from? Fourth, the monopoly of the financial industry must produce underground financial behavior, and this is the bane of usury,Cheap sunglasses if open the financial industry, there will be no usury. The reason is simple. Financial monopolies rely on low interest rates, and the high interest loans socan lend a vast profit, the naked rob to seek for new private capital investment channel, it leads to the other consequence of the bank money supply is insufficient, the enterprise had to seek money the bank. The money supply and demand of exuberant gave birth to the underground. The underground "system operation outside" the high risk, plus the lack of legal supervision, inevitably be an usury. At the same time, the huge capital demand also can stimulate individual behavior of usury. Fifth, the needs of the fair. In the accession to the world trade, foreigners can open a bank in China, then banned Chinese open a bank, it is not in the past, open to the financial industry is really just people "national treatment" just. Sixth, the other a seemingly attached the problem is, usury, underground this kind of and the behavior of the underworld inseparable inevitable breed underworld, such underworld unofficial background can't survive. Therefore, usury behavior a direct consequence is that encourage social, speeding up the corruption. So, instead of underground and bear it banned the unpredictable risk and harmful consequences, as "to the tube and the" and implementing the opening of the financial industry. I believe, in the financial industry be thinking of the monopoly, difficult to enforce a change not small, need the courage of politicians. But it also said that difficult, the once "speculation" sin is not to abolish the overnight? China's economy have not been damaged, instead, it have economic takeoff. Of course, open not die no matter, but with the legal supervision. This makes another topic, as financial experts.

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The local government "if" bankruptcy and how

In the southern United States Alabama most populous Jefferson county population November 9, after a vote, declare bankruptcy. The county to the bankruptcy of scale 4.1 billion dollars, a history of the United States the largest case in local government. The Jefferson county bankruptcy is far more than 1994 hit California's orange county $1.7 billion debt of the record company. Continued economic malaise has made the United States local financial suffered a crushing defeat, New Era Hats the current U.S. state and local government debt has reached record levels, there have been many municipal bankruptcy faced dilemma. Maybe someone will say, change is in China, such as the United States the Jefferson county the bankruptcy of the local government will not appear nine times out of ten. Because of always, so-called local government "bankruptcy" case before in China. Although domestic some local government debt, or insolvency, but who refused to face the local government "bankruptcy" the reality. Local officials and experts think, local governments will not bankruptcy also will not allow its bankruptcy. This is so, borrowing of local government officials like an eating sides, leverage and use more bold on and casual, regardless of the consequences. And the local government of the huge debt, whether the 2008 financial crisis broke out, or now, are standing in a black and white cat regardless, on the basis of municipal and the transport infrastructure investment, it is the local government financial behavior, by financial expenditure to financing, but "the market", want to rely on bank loans to support. According to the national audit office in June this year issued a report, the local government has 10.7 trillion yuan of debt, much of which is a bank loan. Although the Numbers still may be underestimated, but this is equivalent to 2010 gross domestic product (GDP) of 27%. There are a large part of the debt in the government have decision-making in 2008 for counter global recession affect, and ordered two years during mass stimulating investment. So, local governments on how these loans pay? The most effective way is to sell the land-now a quarter of the local government debt to depend on income from to pay it off. In 2010, for example, when the local government should repay debt is as high as 2.5 trillion yuan. But the fear is that in the current macroeconomic policy, domestic real estate has severely affected and the house prices began to drop significantly. Once the real estate market bubble, house prices and land price has greatly decreased, and the local government of the bank loans have been unable to pay, and its debt is likely to become a bank, the occurring of bad loans. From the decline due to income, the local government itself exists the problem of shortage of funds. The government make project development, the construction enterprise of default money; Construction enterprise default "labor contractor" money, "labor contractor" is the default of peasant workers' wages; Migrant workers some commit suicide by hanging, some jump off a building. It is a woman has been blessed in chongqing to meet in the research of the place of the central leaders, reflect his own husband's salary is overdue, successfully get the wages. And more migrant workers are not so lucky, and some on the violence of the debt collection pathway. Before long, the state council research center, a report said the local government debt crisis is beyond financial risks, and become a social stability and economic security of the primary enemy. For years, governments at all levels to take a positive measures to alleviate the risk, it should be said, improved. But, when the economic situation is the emergence of a new situation, can you keep this ease up? Local government faces test, I'm afraid acceptance. Of course, because China's political structure, local governments generally won't appear such as the Jefferson county that typical bankruptcy forms, but the financial crisis will also place the affairs of the serious threat. If for an enterprise that, may have to apply on their own or declared bankruptcy court. However, most of the local government manger son ble en herbe, but still living well. In fact, NFL Jerseys no clear for bankruptcy doesn't mean is a good thing, it often can make a financial crisis can't get enough reveal, the result is not a long time crisis over. Considering the domestic political and economic structure, and the central government will back for the local government debt. But don't know how many of these debts into the occurring of bad loans, will, it is not clear how many will be specific central finance to assume. Most loans are investing in traffic, municipal and other return of the infrastructure are in the field of high investment projects. And these loans of 20% to 30% of the highest proportion of the risk is bigger, especially small and medium-sized cities in financing platform had borrowed loans. In order to give local government alarming, the central government is trying to have some, such as allowing individual has the force local government also like America's local government that "if" bankruptcy, or allow the place National People's Congress can give full play to the function of supervision and local government, for those who borrow blind, already can't normal operation of the local government announced its "bankruptcy". Through these measures, forcing the local government had to save money, had to give up the costly the achievements of the engineering, only in this way, the frequency of the bankruptcy of local government to really saved.

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Don't put the yuan depreciation think so well

There are signs that remit to restart the dollar since all the way "small run" unilateral revaluation of the phenomenon seems to have to end. Subtle RMB trends, whether that appreciation inflection point has now? In the industry of hot debate the future trend of the different sects of view, is the most explosive is that, to allow the depreciation of the time. The state information center chief economic normal sword ping said yesterday, funds are left China to show signs of,buy sunglasses now may be China to allow the weak. The central bank data shows, September net state foreign exchange reserves by $60.8 billion, and the largest monthly performance drop since records began. Recent foreign exchange reserves continue to fall, there are proof of the yuan depreciation shall cause the capital outflow. In the expert opinion, when descending in the global economy expand the exchange rate fluctuations interval, should let the yuan depreciation. This advantage, one was to make the export manufacturing enterprise recover machine, reduce the cost of transformation; The other was to lay the foundation of the RMB exchange rate marketization, and eventually for major global currency transition; Three is to rise in economic performance when leaving a currency appreciation space, in the smooth transition economy after, through the exchange rate will be inefficient, down the enterprise resource factors out in the market. However, these laws observers said Labour, even some people laughed at by the. The United States and the international monetary fund is urging China to revalue the yuan. Including Goldman sachs and citigroup, the big Banks are suggest investors bet the yuan rise. China has been keep the RMB exchange rate is located in a strict interval, the yuan is expected to rise about 5% a year. In the high inflation, the government have reason to keep the RMB strong, will import price controls in a certain level. In fact, the Chinese government has been reluctant to succumb to the global pressure, allows the renminbi to appreciate, because since the market that the yuan in the foreseeable future will rise even gradual appreciation), once the rise, will stimulate speculative capital inflows. Over the past year, the central bank will keep in the appreciation of RMB gradually orbit, and in the past month stop on the market the official exchange rate drop, although the face downward pressure. Since June 2010 China no longer let the yuan peg to the dollar since then, the yuan has accumulated to rise by 7.7% this year, a 3.9% rise. It is estimated that 10 years, China each year from the capital inflows, about 20% to 40% is bet the appreciation of the renminbi (or is steady appreciation, or is through a temperate way) of "hot money". These hot money inflow, increase the let further renminbi appreciation pressure, and caused a few China to the already struggling negative results. Due to know China faces from the United States and the international monetary fund pressure, and worry about the rising domestic inflation, some foreign investors think that the Chinese government would be to let the yuan rise steadily. However, due to the international economic weakness, China's exports have been influenced by the impact. From mid-september until now, against the dollar exchange rate is almost not rise. Therefore, hot money run away, because the value of the yuan rise the space is not large, and the American asset price cheap, water flows downwards, well, this out of the block can't keep it here. September this year, blackstone group with 1.46 billion yuan RMB will Shanghai a shopping center sold 95% of the equity. 2008 black stone purchased this property prices for 1 billion yuan RMB,NFL Jerseys hold the property of in three years time, blackstone group will improve the ChuZuLv to more than 90%. In such a good trend under, blackstone did not earn piles'll pull the plug, also seems to be further proved the trend. In this case, some experts talk about "the yuan should be devaluation", let you have the feeling of first: the yuan should eventually decline, and the appreciation; And so for, the Suggestions RMB choose a more flexible exchange rate. In fact, we don't put the yuan depreciation think so well. The benefits of yuan depreciation is common to promote exports, but experts thought no, yuan if depreciation, not only foreign capital, is the domestic capital will escape from China, can not influence on the economy? Moreover, the depreciation of RMB, also means input type inflation, the yuan depreciation will aggravate the current inflation, making Chinese exports of goods to foreign countries to be cheaper. And imported oil, iron ore, wood, grain and other resource materials are American dollars of settlement, conversion into RMB will be more expensive. The material, the price will drive the industry chain, will aggravate current inflation. In addition to this October CPI growth reached 5.5% outside, rather a long time CPI growth reached 6%, the public looking at the rising CPI data, just think prices more and more expensive, money more and worthless, few people will clear awake to feel the yuan is fallen. At the same time, in the face of increased continuously CPI, even to recognize the yuan in domestic depreciating people now won't think of, not far from the future of the time the RMB exchange rate may have a big decline of that day of, the estimate to devalue its currency to let the public was a little willies feeling.

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By QingChang freedom square

The assault by the end of the money phenomenon mean

The assault by the end of money again become a hot social concern, the Treasury is held by video conference stressed that are determined to prevent this from happening. Can pass a meeting or send a file can solve this problem? The answer is no. Because this is a kind of institutional phenomenon, is not of the occasional work disorder. Not deepening reform, promote the innovation of system, outstanding at the end of the year the phenomenon of money will year after year,nfl hats appeared again and again. Have two kinds of cases by the end of money belongs to assault: one is income budget implementation by the end of the year appear the excess, the excess revenue no prior arrangement purposes, using assault by the end of the year. If without the legal procedures, is a kind of illegal behavior. For this kind of assault money shall strictly accountability. 2 it is spending before the budget implementation with tight, former slow, quick, concretely embodies in the implementation of the budget spending slow progress in time at the end of the year only a very short period of time, and account had been a lot of money is not flowers, in order to complete the expenditure budget, produce the assault spending behavior. This kind of situation although do not belong to break the law, but the effect is self-evident money assault. Whether that situation, assault is the implementation of the budget spending money. The surface looks, this is the problem of financial department, actually, this is not the financial department can solve. Financial departments authorized by the governments management budget, but the real money is government departments. Each department has its own department budget, the department budget summary constitute the general budget, zhang in the financial sector, the money where to go and spend how many, but by each department calculate, financial department just up a comprehensive balance role. Because information asymmetry, the various government departments "should be" spend how many money, it is difficult to have a recognized standard, besides the salary, office funds such basic spending can be in accordance with the officials said norm go outside, the project expenses newly-won control spending is actually the each department. It should be made those project, should spend how many money, the real money is psychological understand each department, but this is each department's "secret", who are not the bottom revealed that out. For more money, to give each a project for more money, this is every government department in all the do the homework. Who will not say, I'm much more money, always talking about not enough money. Transparency is not high, appears unavoidably some projects more money at the end of the year flower not, but in order not to influence the next year to more money, always try to spend the "excess" money. In addition, the government departments in the budget, next year's task is not very clear, specific to do what matter, specific programs, in fact is not clear, often only a probably. In no detailed task list and program, is often wait until after the budget official reply down, again to break down the budget, and then fall to each project to go up. And the project has a project, demonstration, feasibility study, evaluation process, if relating to the local government, there are a report, review,nba jerseys consolidate, and the process of approval. The National People's Congress is held in early march, budget review through the official reply to each department, often in April, and then decomposition, fell to project, after the above those steps, usually has arrived in the third quarter. Financial department show results account is, there are still a lot of money on credit, so as to form the end of the outstanding money phenomenon. Thus, it is easy to see assault spend phenomenon is the administrative management system is perfect, the administration to defect. In the departments responsibility, task difficult to clear definition, total want to each department for more money, more work. And this should do, this is not budgeting to address. Department lot behavior, not really can guide the annual plan for the medium and long term planning department of, for a year, to do a year, project insufficient reserves. Not such as project in money, but to get the money to find project. So, a lot of the expenses of the end of the heap, spend money also can't avoid the assault. Therefore, the end of money to an assault, must rely on deepening the reform and perfect the administrative management, among them, improve the department budget transparency is the key.

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Must a clear-cut stand to sing

He's name and the chairman of the Shanghai index for CSRC during ten years or zero (year-on-year, to the inauguration date dispute), coincidence indescribable scene. But the Shanghai index for are not the A share market circulation and the full circulation in the transformation of little sense. Here is a snowball net friends @ idea of making a listed company total market value and current market prise contrast figure. The red line above, ten years to measure of China's capital market wealth most significant changes. Visual, it is known that the A share market of new wealth level as China's real estate market,cheap new era hats and no less than other emerging economies. To participate in the secondary market for retail investors, unfortunately, the wealth, basic all return to the sasac and at all levels of formerly non-tradable shares. This error is the distribution of wealth is rooted in the process of A share of the year "temporary not circulation" approach, the process of wealth with secondary market price of huge ebb tide. Although historical mistake has set up a file in the people at great cost and resources is serious mismatch get finally correct, but can't ignore the new error continues: even if has come to the full circulation of era, CSRC still paranoid that when new shares to the old shares held by the shareholders lock the longer regularly to the greater the protection of tradable shares. Unless the put on this view, the head of all cut down, this error correction not know at that time. However, big mistake has been corrected. Figure of two curve never coincide (even shorten the lock, the market is still regularly non-tradable existence, only will be less and less), but when both close to to a certain level, that is not the size of the reform of non-tradable circulation, only for new shares listed lock, after the distance between the two will be relatively fixed. Since then, in the issue of examination and approval the major premise unchanged, under the premise of market already is basic to normal. From "temporary not circulation" to "the full circulation of reform" the system after correction, the story will be different with the previously. In the middle of the full circulation of reform, some people in the name of VC/PE, participate in enjoyed before changing the feast of non-tradable shares or feast in the water. And in the reform is completed, that now is the time, still poured into the VC/PE industry that a group of capital, because the flock effect, the future and current situation of the already enter the cooling of the secondary market players than its income convergence or at a disadvantage-unless they can quickly adjust their own goal and with regulators success bo game,cheap oakley sunglasses the activity center transferred to the secondary market, the m&a activities. The market has can play. The next time the scale of the disaster will occur at or by CSRC to give ShenPiZhi issue. As you can imagine, if that day comes, affirmation is the whole country toward progress direction was a big step forward. Imagine the future disaster can with such a great nation fortune inflection point, that now and what the hesitation?

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Market regulation in love the government supervision and divorce

January 13,, Shanghai some law firm joint Beijing some industry organization issued the Chinese retailers supplier legal relationship survey report. The report is currently existing retailers "problem" disclosure, and points out that the retailers are "seven", such as zhang) long, BaoDe rebate, strongly receives the promotion cost, default payment for goods, the supplier contract debits, goods return, forced suppliers sign not equal terms. ?At the same time, the report also suggested: the supplier into super should be cautious and retailers, retailers will strengthen the social responsibility of the enterprise has the cultural construction, government departments will be hit retail enterprise many kinds of violations as a long-term mechanism to grasp. ?I'm dumbfounded, wondering if like hell is year after year,dc hats today's special: China's reform and opening up, the rich strong nations are 33 years, how are people miss the egalitarian practice of ShangLi when people? "Su ning carrefour sell five ministries declared by the" wind "another shoe" is still without falling off, of the corner that he will move the ants. This report party, the relevant government departments scurrying to suck up, trying to please the suppliers, rough accused retailers, in fact not understand any side of the mind and real situation, let alone adjustment Suggestions retailer-supplier relationship; If not lonely unmanned, sensationalistic, is very silly good naive. ?If the market economy of relatively strong performance as enterprise "sin" and simply copy the extensive, lagging behind the laws and regulations to molesting the retailer-supplier relationship with Chinese characteristics, is undoubtedly take the standard to set cup coffee machine, wear slippers to take the true ice. To get into trouble! ?The contracted spirit is an important part of the market economy, both sides signed cooperation why, how to sign, sign in to what extent, joy, patience things each other what, this is all you feeling I would, again no tired is also the week yu play HuangGai, it is to make your own money--to take care of his family, employees and customers. Your the hand of government regulation to retailer-supplier relationship, let retailers settling, this is the real damage zero for harmony! Existence namely reasonable, China retailer-supplier relationship development so far, and rough, vulnerable, also is the market's hand, it inner balance and interesting "game" perfect, if you live together peacefully, LuBuSheYi YeBuBiHu, that and QingDeng gu fo any different? ?Ever the supplier of Louis vuitton, chanel, p&g, Coca Cola, SONY, apple, etc? Louis vuitton let a hangzhou high-end department store ZhuangXiuFei out 150 million yuan, helping to avoid two offices, the department also joy bloom later proved to be a win-win situation; Chanel, almost all stores will reshipment facade, always good to discuss; P&g products in China any supermarket sells is the most significant position and less return point, many retail enterprise old total, manager all its love-hate intertwined, but dare not cherish from gross margin, away from p&g. ?Retail business, to rational competition don't whole dharmadhatu, retailer-supplier relationship to energy don't mother-in-law mother, related industry gradually shift ascension, to allow a 35 years of selective perfect. China's five thousand economic, political, human nature history tells us: forced love does not last, the son of treacherous court official lantern rob close is often ZhongLiang killed after, it became the wind and rain; Eluded the business people do, losing money business no one, zero for both sides is business is business, and many of the stores and manufacturers, both have consideration, thinking; No diplomatic contribution, and small and medium-sized enterprise market pricing ability is bad (including medium and small retailers face large suppliers of compromise), YaoChenWei Po fans never, put a fart can be turned to cranny (supplier of the goods so badly spread over the great river north and south, earn basin full port excessive). ?To men and women relation terms, the government law enforcement agencies covered is "marriage law" mediation range, the less than "love" and "husband and wife life". Retail industry organizations and law firms and so on, is the third party to objective, and to do zero for both sides friends,wholesale nfl jerseys sometimes GuanQi silence, and sometimes GeXi points to sit, sometimes well-meaning, must not "third party reach" good panic. ?United business net friend "laughter wheat" was once in the league business the comment "the clear-cut force by solving a market retailer-supplier relationship" after the message: "in fact retailers is a shoeshine, leather shoes to wear in the manufacturers, retailers, and the requirements on foot collection points, the result is said to shoeshine shop....... QiKe big part the manufacturers think in the shoeshine done suffered wrote to the requirements, they had to wipe shoemaker, it looked at the complaint, might also want to have economic interests, is ready to 'wrong in strong weak.......' manufacturers and tell people that money back is the big ye, his shoe the where make too I, Lao tze MingLi early community packed......" ?Though not necessarily do such as laugh Michael says, but suppliers generally higher than retailers relative profits are facts. Area of leading retailers (not including real estate section) net profit but 2%-6%, fujian sweets industry top 20 manufacturers in more than 10% more than net. ?Than world retail, the retail was very young, retailer-supplier relationship various order, the kernel is savage growth. Like a group of two to seven children, 2 years old boy is always looking for 3, 4 years old children play with, 3, 4 years old the child wasn't willing to-they always find six, seven children play with; 6, 7 years old children like to play and peer, occasionally still willing to take take 2 years old children, then 3, 4 years old kids like to play with children and two years old, because there are six, seven children in. The child's world, have their primitive impulse and internal rules, both pure and cruel, others worry too much inconvenience, interference, otherwise will be insolent but useless. ?China retailer-supplier relationship, solving by market, to let the other hand ", "the other one mouth" go away. ?

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The tragedy of new shares

Knowledge management of the service idea

We in China today is for knowledge service, this is a great opportunity to market, but at the same time is also a challenge the huge market, so we in such a market to have very good development, need to grasp some important principle: one is the enterprising and not smooth, when we can keep and trade the same development level, we can survive, but if we beyond trade development level can we attractive, we state of mind can zero,new era hats but the purpose of zero is always with positive attitude to set; 2 it is for a single ecosystem, do a knowledge service enterprise managers need to do on the basis of the division of professional glance left and right, because we will have the special investment point, but just because it and guarantee the effectiveness of our maximum play, so you see yourself outside of the division business line, if use a development of the ecological view, will know that the appropriate support and care about and cooperation, can let we own the division of labor field optimal opportunity, in part to the premise of interaction and communication attention, we could achieve the multiplier effect; Three is self drive and not only listen to, an organization of course has its own order system and order, but the knowledge service fields are full of its own dynamic and change sex, so good managers in the large organization framework to constructive insight and a flexible approach to, set a goal, innovation measures, not by rules, wait for instructions, even though some of the very front create also have not cannot, and should at least meet this time is not simple questions, but the idea is to have certain choice solution; 4 it is to have insight and not the superficial to respond, in knowledge management problems need we think twice, we need in the accumulation of knowledge the transcendence of knowledge, in the observation of into the phenomenon phenomenon, knowledge manager must be hard thinker, or men of diligence, is the act of the researchers, is to study the actors, line have think, think in line, so they could have more highly than actors, more than the thinker implement degree; The fifth is to open and not the limit, we meet other knowledge management and good knowledge management, have their own ideas and practices, have their own justify methods and tools, so knowledge management need to respect each other, we give to others, but also want to know how to use the method of communicating to persuade a consensus, seeking common ground while putting aside differences, to explore and difference to more leeway, even if is a strong knowledge managers can do most soft despotism, the era of absolute tough have already can't in the knowledge service circle mixed up. The knowledge service of managers, they thought it was the nature of the improved activists, even if sometimes the improved belong to radical liberals, they always new knowledge and new tools in search for gradual path; And knowledge management are often in a business managers, for new knowledge and not sure sexy interest and uncertainty of management have a sense of achievement, such a challenge and accept the challenge of the process, decided the knowledge service of the characteristics of managers combining static. Of course, the knowledge service managers cannot tolerate cheating, also can't accept not fair, even though some of the imagination of injustice, and the solution is in the knowledge service of the environment is the more openness and communication of sex. You said, this easy? Yesterday scene: a reception, chaoyang, Indonesia, being guests. And brother six family dinner table. This poem: LongZhong today cloudy, without the clouds, no password, not imagine wandering. Fly right,discount sunglasses ordinary appearance no proof, can show you fly the uncommon. This week YuanShi recommended dishes: SuChao eggplant article purple four tomato, even skin to cut, then cut into long article thin, into clear water leaching out spare ten minutes. Spicy rice pepper four, parsley, two of the four tree QingSuan tender ginger, a small, cut all accessories for finely slice. The olive oil or safflower oil, fry a points put accessories, in article tomato, the fire for four minutes, add salt and deliberate whether he is a little sugar, and stir-fry a minute ChengPan available.

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New shares listed problems in the system

From January 1, 2005 start, our country the ipo to take the off-line allotment and explain buy online inquiry with the combination of market mechanism of issuance. This so-called "class market" refers to the examination and approval of the listed approve the system and pricing mechanism of the market. The current stage, the new shares listed main problems can be divided into two categories, one is the system, and the other is the operational level. A system level is concerned, public offering to approve the system is the key to the problem. Since 1992, established to CSRC now,wholesale nfl jerseys our country securities market new issues through ShenPiZhi and to approve the system two stages. Compared with ShenPiZhi, to approve the system despite the introduction of the implementation rules issued securities intermediaries, but essentially it is still a with a strong color stock issuance of administrative management system. Government departments and regulatory agencies still highly centralized management of securities issuance matters and the company can have listed at the end of the financing authority. At present the hair of the ipo to bring the main mechanism of the following problems: 1.? Excessive packaging. In the approval system, to the public company can realize their ultimate purpose listed and heads. To achieve listed purpose, in addition to hope for regulators to different public power the above, often to the public assets fully "packaging" to optimization financial data, as low as possible can't through the hair the risk of the will. The excessive packing easy to make some performance mediocre even exist no development be underestimated risk assets, which causes the listed price of departing from its real valuations, hurt investor interests. 2.? The issuer and intermediary organizations through conspiracy to benefit, excess whip round. In the approval system, listing qualifications is a scarce resource, level 1 market widespread "bear difficult-sell easy" phenomenon. In the process of the ipo, the issuer and underwriter, hopes to be able to excess whip round, collected from the issue of new shares lead underwriters of underwriting fees in high commission share, issuers and private institution is in the ipo in high price after the cash. Therefore, the stock issue enterprise, brokers and off-line allotment in private investors easy to form conspiracy to benefit through various means of excess on sale. 3.? Level 1 market pricing excessively high. Regulators in the securities issuance in the leading role to become public listed shares its natural "the recessive guarantee". Investors in the government agencies hair the mechanism under the endorsement, often underestimate risk investment, therefore, the domestic first market stock issuance is relatively easier. In addition, there is no explicit provisions of laws related to lead underwriters and the issuer for new shares FaHangSuo need to bear the legal responsibility, the sponsor of the lack of accountability. In the huge economic interests in front, intermediary institutions often high potential listed as the price of assets, and manipulate new shares inquiry process. 4.? Power rent-seeking. In the approval system, the management way plan issued amount, the listed means "profit", stock issuance examination and approval of prone to power "rent-seeking" phenomenon. Some distributors and intermediary agencies listed in order to seek the benefits of, by the false "packaging", diddle issue affected the market listing qualifications, the justice. On the operation level is concerned, the off-line allotment proportion, the new stock inquiry process, stock back to dial the mechanism, and any other issue is assistant mechanism should be further improved. First of all, the off-line allotment rate is low lead to offer optional. According to the CSRC released in 2006's "stock issuance and underwriting management method" regulation: "a public stock offering number less than 400 million shares, distribution Numbers do not issue more than 20% of the total, a public stock offering in number above 400 million strands, the number of allotment issue no more than 50% of the total." Now, middle and small plate and the proportion of the gem off-line allotment generally less than twenty percent. The off-line allotment to lack offer rate is low price sensitive, in the process of inquiry at will offer. Secondly, the new inquiry process deficiencies. In the current inquiry mechanism, price is larger than the final pricing inquiry agencies for the off-line allotment party qualification. Because of the ipo process in supply control, some inquiry agencies out of game consideration, often can quote us higher prices to avoid elimination. Third,dc hats the stock callback mechanism and "green shoes option" and other auxiliary mechanism are not mature enough to release. China's ipo market use is the off-line allotment and explain buy online inquiry of combining the mechanism, but the stock callback mechanism but remain to be improved. When the net explain buy the excess demand significantly, the off-line rare on the net explain buy stock dial, in order to meet the needs of the public purchasers, conversely, when the price is on the high side, online subscription is insufficient, and no corresponding back to dial the mechanism, the part into the stock dial, offered to strategic investors. In addition, China's new market still lack like "green shoes options" such a system designed to adjust the ipo of supply and demand. In short, the ipo pricing and existing problems of, from phenomenon, it is the existing mechanism in many links exist defects and the insufficiency, can not adapt to the development of publication market; And from the root, it lies in the current new shares system do not completely a market-oriented. Therefore, completely let go of listing qualifications of supply control, to approve the system from the system, records registered transition, is to promote the healthy development of the ipo market the fundamental way out.

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For hangzhou "your city" century lian hua say a few words to be fair

Prepaid about negative effect, more in order to XuFuJi sugar suspected of parity for example extreme, then spit in the slot, such as with "I × check" software that a relatively more expensive lianhua and commodity...... It's like a premeditated or nearly ignorant "hunt" impulse. ?News articles on a net friend to post, she respectively in hangzhou auchan (29.8 yuan/kg) and lianhua (55.8 / kg) bought XuFuJi XiangPiTang, price by one times. The news was the network crazy. Have not confirmed samples and commodity prices, the news source quoted very rude. ?From pricing common sense to see,new era hats lianhua probably won't stupid enough to have common famous brand goods sell candy to the market value of two times. An option that contrast, in clap nets, taobao with product, unit price more than 37 yuan/kg, and extra express cost 10-20 yuan. ?I find news source refers to the coming two photographs, found a catch in it. "Low price" is the tag, auchan * (blank) candy, "high" lian hua is super candy. In the period of validity of the price tag auchan, processing date jan. 7, 2012, the effective date on January 14, 2012, the existing shelf life seven days, and XuFuJi such candy warranty usually in the 18 to 24 months, or this is a quick overdue of "near the product" special treatment, or a price tag is false. ??????The manuscript allegedly consumer reflects "a sunshine, lianhua LiQun than your $50, with tesco what?" Three years ago the state "smoking ban" comes into force, including tesco,discount sunglasses all foreign supermarket exit tobacco business, so tesco store of smoke to have also can only be the periphery of the individual merchant. The price was the only the condition assumptions is LiQun when prices to buy lianhua, etc in tesco store have depreciated by take the soho, absurd charges, when smokers is an idiot. ?Part of the lianhua supermarket commodity prices partial expensive, of which the enterprise of prepaid consumption revenue many scale, but seek truth from facts said: it has a lot of your goods, also have cheap goods, but not monopoly, it is a complete business market, have their own competitive, plan as a whole the pricing system, it also need public speech fair and specific view. ?With a real data to evaluate individual overall price system, is irresponsible, such as MangRenMoXiang. "I * check" versus the mobile software, with price control bureau announced major consumer goods prices regularly system almost. The first with the name of the science and technology, the latter have administrative care, and indeed all the one-sided understanding of the market. A large supermarkets, tens of thousands of category, individual sensitive products a day ten price, if by a software will get it done, that even the stores to compete with every copy of employees do stores price? ?Consumer shopping experience is a talent for human rights, but many the layman's hand painting feet rather far-fetched. ?I can guarantee that, even if is the leading wal-mart or arden supermarket, is impossible to the commodity prices below category peers. Even if is the price of eggs to uncertainty retired old man, also dare not say he really think lianhua have even over 50 commodity prices above with lots of other supermarket store 10%. Certain price range difference, far cannot impact on customer's latest convenience and commodity demand such as abundance. ?Lianhua supermarket in real costs, may be gifts, import food section, or is it high-end retailing store citylife products, but these consumption are not the mainstream consumer goods, they target customers more CARDS is consumer. ?If all the prepaid, lianhua but is a little accomplice; No lianhua, there will be dahua or wah. The article accused lianhua kidnapped with prepaid consumer, I wonder: if it is to show the government corruption, it is but a small way, the subject is briber and corrupt officials, fundamental need to source; If is to point to the welfare enterprises and units, see in the lianhua nearly 50 companies in hangzhou city is one of the network's sake, you have reason to issue a only one or two store carrefour or wal-mart?

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