CHINAMacroReporter

Happy Lunar New Year!

by

|

CHINADebate

February 12, 2021
Happy Lunar New Year!

For our New Year’s cardfor the Year of Ox, I chose the painting ‘Laozi (Lao Tzu) Riding an Ox’ [老子騎牛] by Ming Dynasty painter Zhang Lu [張路].

According to historian Sima Qian (ca. 145–86 BC):

  • ‘Laozi cultivated the Tao and the Inner Power.’
  • ‘He advocated the hermit’s life, a life lived in obscurity.’
  • ‘He lived in Zhou for a long time, but when he saw that the Zhou dynasty was in a state of decline, he departed.’
  • ‘When he reached the Hangu Pass, the Keeper of the Pass Yin Xi said to him: “You sir are about to retire into seclusion, I beseech you to write a book for me!” ’
  • ‘So Laozi wrote a book in two parts, treating of the Tao and the Power, in a little over five thousand words.’
  • ‘And then he went on his way.’
  • No one was able to tell who he really was, no one knew where he went to in the end.’

According to legend, Laozi rode up to the pass on a blue ox, wrote The Way and Its Power [Daodejing/道德经] and then rode through the Pass on the ox and away from civilization forever.

  • Artists depicting this scene show Laozi riding the ox on the side (as here) or even backward and thus demonstrating his mastery and stability.

In this painting you can see Laozi holding a scroll, presumably the Daodejing.

  • [Note: Since Mr. Biden was elected, I keep thinking of the line in the Daodejing: 'Govern a great country as you would cook a small fish.']

And, if you look closely, you'll see that Laozi is looking up at a bat.

  • The bat is a common motif in Chinese art and is a symbol of wealth.
  • This comes from the Chinese love of puns (and there is no better language for punning I know).

In the Beijing dialect the character for bat is fú 蝠; the character for wealth is fù 富 .

  • The characters have the same sound and the only difference is that the one for bat has an insect radical 虫 on the left.
  • There is even a saying, 蝠子天来 [fú zǐ tiān lái] - literally ‘bats come down from the sky,' but meaning roughly, ‘may wealth suddenly come down on you.’
  • (I have also heard that because bats hang motionless upside down, they are a symbol longevity.)

So all in all,‘Laozi Riding an Ox’ conveys my wishes to you and your family during the Year of the Ox. May this year bring:

  • The wealth of a bat falling from the sky, the health and longevity of a Daoist Immortal, and the wisdom of Laozi.
  • Or as Ben Franklin put it: Healthy, Wealthy, & Wise.

恭喜发财 | Happy New Year!

With my very best wishes,

Malcolm

More

CHINAMacroReporter

August 24, 2023
Xi Jinping: 'The East is Rising' | Yes. Rising against China
All our careful analyses of PLA capabilities, the parsing of Mr. Xi’s and Mr. Biden’s statements, the predictions as to the year of the invasion, everything – all out the window. This is one you won’t see coming – but one you have to have prepared for.
keep reading
July 23, 2023
‘The U.S. Has Tactics, But No China Strategy’ | Bill Zarit
‘The U.S. needs national review of outward investment to China, but it has to be narrow and targeted and done in conjunction with our allies and partners.’
keep reading
July 10, 2023
‘Is Xi Coup-proof?’ (after the march on Moscow, I have to ask)
What about the guys without guns? So if Mr. Xi doesn’t face a rogue army or a military coup… How about a coup by Party elites?
keep reading
March 9, 2017
So many twists and turns to the China Housing markets story
[CHINADebate Presentation] One of the highlights in our recent 'In Pursuit of Patterns' series of client notes, showed that the land sales growth had tended to lead the price growth and a significant increase in land sales would lead, with a lag, to the subsequent correction in prices.—Almost everyone on the outside seems to have missed the biggest bull market in China housing in 2016, culminating in policy tightening cycle kicking in at the end of the year. But what's next?
keep reading
February 27, 2017
Is The U.S. Ceding Global Leadership To China?
'China isn't positioned to replace the U.S. as a global leader anytime soon.'—Hard on President Trump's 'American First' inaugural address, Xi Jinping gave a rousing paean to globalism at the World Economic Forum. And, immediately the hot question became: 'Is the U.S. ceding global leadership to China?' Yes and no, says Bill Overholt of the Harvard Asia Center. Yes, the U.S. is ceding global leadership. No, China won’t replace the U.S. What will replace the U.S. is ‘G-Zero’, a world with no single global leader. Not China, not the U.S. So, can his critics lay this outcome at President Trump’s feet?
keep reading
February 15, 2017
C-to-C Internet Commerce- From Taobao Shops to Taobao Villages
One is some of the local government-owned SOEs are the sources for overcapacity. The reason is because the local government also wants to ensure there's some degree of employment locally, and perhaps some source of taxation. The Chinese government is now going to need to start the so-called supply-side economics to try to consolidate overcapacity in a number of sectors. It's going to impinge on the interests of many of these local SOEs as well as the local governments who own them.
keep reading
February 15, 2017
How SOEs & Local Governments Create Overcapacity
One is some of the local government-owned SOEs are the sources for overcapacity. The reason is because the local government also wants to ensure there's some degree of employment locally, and perhaps some source of taxation. The Chinese government is now going to need to start the so-called supply-side economics to try to consolidate overcapacity in a number of sectors. It's going to impinge on the interests of many of these local SOEs as well as the local governments who own them.
keep reading
February 15, 2017
Why SOE Reform is So Tough
'...SOEs need to reform, because on one hand, many of them have achieved a lot for China. On the other hand, they've actually created quite a lot of harm, in particular in the areas of overcapacity but also in the areas of corruption we've talked about.'
keep reading
February 2, 2017
AmCham China Chairmen's View From China in D.C. 2017
[AmCham China & CHINADebate U.S.—China Trade/Business Series 2017] Terrific insights from leaders on the ground in China. While in D.C. the Chairmen joined us in a panel discussion and individual interviews about U.S. business in China, U.S.-China relations, trade, and much more. We present their views in a 13 part series. Sheryl WuDunn, business executive, lecturer, best-selling author, and winner of the Pulitzer Prize moderated.
keep reading
February 1, 2017
'Chinese Politics In The Xi Jinping Era'
[Malcolm Riddell Interviewed Cheng Li] 'If you ask any taxi driver in Beijing, Shanghai, or Guangzhou, he or she will tell you – with accuracy – which leader belongs to which faction. : 'China is a one–party state, but that does not necessarily mean Chinese leadership is a monolithic group with leaders who have the same ideas, same background, same world views, same politics. No, they're divided.'
keep reading
December 7, 2016
First 100 Days: Do Not Provoke China
The First 100 Days interview series features Pacific Council experts addressing the top foreign policy issues facing the incoming Trump administration.: Warns of the potential for new conflicts if Donald Trump follows through with his campaign promises regarding China.
keep reading
October 18, 2016
How Alibaba, Xiaomi, & Tencent are Changing the Rules of Business
[An Interview of Ed Tse, the author of 'China's Disruptors: Alibaba, Xiaomi, & Tencent... how innovative 'Disruptor' companies are restructuring China's economy.' ] The real force in Chinese economy is increasingly private companies, not SOEs. / Leading private Chinese companies are innovative and ambitious
keep reading
July 14, 2016
How 'Brexit' Will Impact China's Economy
David Dollar gives you fresh insights to better incorporate Brexit's impact into your analyses of China and global economies & markets, including: 1. Why, after the Brexit vote, did the Shanghai Stock Market fall only 1%? 2. How will Brexit affect the value of the RMB and China's currency policy? 3. How will Brexit impact trade with the EU, China’s largest trading partner? 4. Why, in the larger geopolitical perspective, could China be the big winner from Brexit?
keep reading
July 2, 2016
China housing: boom, bust, or bubble-or...?
100s of Cities Bubble Up & Down As Policy Makers Press the Levers China hasn’t collapsed. And, the bubble hasn’t burst because there may not be just one big real estate bubble. Instead, there are 100s of sizable cities, each moving in its own cycle, each responding to how its local policymakers stimulate & tighten-stimulate & tighten, and each having performance divergent from that of other cities. Watch here to see how city-level markets bubble up and bubble down...
keep reading

Heading

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.