The Correlation Of U.S Stock Returns With Overseas Stock Returns Why Study Mandarin – The Last 20 Years of Chinese Modern History

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Why Study Mandarin – The Last 20 Years of Chinese Modern History

Learning Mandarin in 2010 is more exciting than ever before in four to five thousand years of Chinese history. The reason for this is the Cambrian explosion that took place in the world’s most populous economy in the last 20 years. The trend toward economic reform began before 1990, but it was then that China was ready to take the first important steps toward a freer and more stimulating economy. In the early 1990s, several important things happened. The Shenzhen pilot zone, the place where they first tired to introduce some capitalist element, was a resounding success. China’s first-ever stock exchange, in Shanghai, was important both as a symbol of reform and for the favorable effect it had on the country’s prospects for major investment. So when China joined the World Trade Organization at the end of this decade, things were already moving at an incredible speed. But with the successful application for membership in the WTO and further reforms related to the flow of foreign and domestic capital to and within the Celestial Empire, the ground has been set for significant growth.

China has about 1 in 5 people, so if China’s policy changes even slightly, it means the world is changing a lot. Since then, roughly 1 in 12 people on the planet have gotten a much better job as a direct result of these reforms. The labor shift I’m talking about, of course, is how the world’s largest agricultural sector put on its shoes, headed to the city, and got much better-paying factory work. In terms of history, it happened in the blink of an eye, but 600 million people rose from poverty to relative affluence, and the remaining 600 million people in China are on their way to join them. The pace of these changes is staggering in terms of their absolute value and equally impressive in terms of their relative value.

Over the past 20 years, China’s annual growth has been about 10 percent. It’s unbelievable. This means that during my lifetime (I am 25 years old this year), the Chinese people have become almost 4 times richer. Adam Smith said there is no greater force in the world than compound interest, and when applied to the greatest nation in the world, this mathematical concept takes on a force of its own. If America grew at this rate, many households in the United States today would have about 6 cars (wow). If the last 20 years had been equally favorable in terms of growth rates for my home country of Sweden, I could have printed this on one of my 5 PCs.

However, this will certainly not happen. China is growing so fast because it was so far behind when it started. Economies are easy to grow when most people work in the rice fields using antiques as tools. All you have to do is hand someone a basic machine and their productivity will skyrocket. Today, it is much more difficult to find such a person and give him a better way of production. What’s interesting, though, is that the cars the Chinese have gotten so far aren’t very good, in fact, they’re very basic. Today, the Chinese produce less than 25 percent of what an American can produce in the same time period. As the stockpile of people standing in the water trying to pull out the rice with their hands finally dries up and China becomes a full member of the club of modernized economies, China still has a lot of leverage left. As long as wages don’t rise faster than the Chinese get better at using their new tools, China will continue to grow at a fantastic rate and Mandarin will become more important every year.

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