Thursday, March 08, 2007
A Dip In The Stock Pool
Everyone I talked to this week has been wondering about the "stock market snafu" that occurred this past week. I continue to call it that because that's all it was. No cause for alarm, folks. In order to kill several birds with one very witty stone, I will now publicly answer the three main questions I have been asked:

1) No, the currency did not significantly fluctuate as a result. And yes, I can still buy a week's worth of groceries for $30. The day that changes, well let's just hope it doesn't change...

2) No, people did not run around the streets outside the stock exchange waving their arms around, throwing papers in the air, and screaming in a chaotic blur. The Blob has not come to attack Beijing, for goodness' sake! And no - so far as I know, NO ONE has jumped out of any windows. Though we may have persuaded China to replace inner strength and robustness of character with Louis Vuitton knock-offs and McDonald's franchises, human defenestration is not one of those Western quirks that China cares to adopt as its own.

3) It's business as usual, literally. Though some people took a small hit in investment, there was an immediate and sizeable springboard recovery. One rural Chinese newspaper did interviews with farmers who had invested in the market. A very sage elderly woman told them, "[the stock market] goes up and down. That is its nature. I don't worry about it because it will balance."

Eloquent and point on. She said it better than many of the industry insiders. And she's never even taken Econ 101.
posted by Rachel @ 9:51 AM  
THE WILD WILD EAST: Everything you never knew you didn't know about life on the other side.
In China, the people are represented by two separate, yet equally important groups. The Chinese, who call this land "home," and the expats who migrate here. My name is Rachel. I am an expat. These are my stories.
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