What did I missed?

Took a few weeks off and hell freeze over. My trading profit for the first 9 1/2 months are mostly gone in just over 3 weeks. I have 2 months to make up my lost so I can book another profitable year.

2009 is going to be the year of the Chinese. You may not agree with Chinese foreign policy, worry about human right issues in China, or hate Chinese food; but Chinese money is just as good as any other money if not better. Trading with the Chinese, and you’ll be rewarded. What the Chinese do or don’t do will have a much greater impact on the world economy today than one month ago. The Chinese financial markets are less developed compare to those of the developed countries, but China got to its current state of development faster than anyone else in history. Talents, experience, and knowledge from Hong Kong may have helped. I had a private conversation with the North America CEO of one of the state owned bank of China. It was obvious that this guy didn’t get to where he was with his own merit, and I suspect most if not all state owned institutions have executives who have no clue, I mean absolutely no idea about money, finance, or anything (think high school dropouts). Yet, the China has come so far in its economic development. From what I heard, the new generations of leaders are very impressive and they’re slowly replacing the old leaders as state owned enterprises are slowly being privatized. The current Chinese communist party leaders are a smart bunch; I’ll like to see how they will react to the financial crisis the world is facing. China is putting a lot of effort into developing its domestic consumer markets, along with huge foreign reserves; China is in the best position to weather the finance crisis. I’m going to pay more attention to economic development in China and adjust my trading accordingly.

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One Response

  1. A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks

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