Is the renminbi the next global currency?

McKinsey Publishing’s Clay Chandler conducted the interview with Geng Xiao, director of the Brookings-Tsinghua Center for Public Policy. He discusses how divergent growth rates of the Chinese and US economies will erode the hegemony of dollar—but not right away.

The US dollar’s run as the world’s stable currency has stumbled with the recent financial crisis. Waiting in the wings is the renminbi. But according to economist Geng Xiao, it’s still in China’s—and the world’s—best interest not to dump the dollar just yet. In this video interview, Geng Xiao, director of the Brookings-Tsinghua Center for Public Policy, explains why China needs time to push through difficult economic reforms at home before it can allow its currency to float freely against the dollar.

This interview was conducted in Hong Kong.



You can also download a PDF of the transcript.

Link to the original McKinsey Quarterly article.

President Barack Obama's Endgame: A Look At The National Debt

This is a really interesting video. If GOP has enough money to show this video during SuperBowl halftime show, the next president will definitely be an Republican. lol.

P.S. I just found out Peter Orszag resigned his position as OMB director. 

Should We Believe in God?

I was watching Boston Legal. Alan Shore and Denny Crane were discussing about believing in God.

Alan Shore: Do you believe in God?

Denny Crane: Of course I do. You know I do.

Alan Shore: Why?

Denny Crane: Why? Why? Because if you believe in God and turns out there is no God, there is no harm, no foul. But if you don’t believe in God, and turns out there is one, you are screwed.

Season 3, Episode 16 The Good Lawyer

Boston Legal

favorite writer

People always talk about their favorite writer(s). I've never had one. Sometimes I say Shakespeare, but maybe it is just an effort to make me seem smarter. I have never finished all his plays and, frankly, I am not a big fan of his writing style. (I do like his stories and use of words, but his sentences make me want to kill myself.)

Recently, as I strive to improve my writing skills, I began to read about writings. After reading several of his works, I would say my favorite writer is Bryan A. Garner, the editor-in-chief of Black's Law Dictionary. His writings are not only clear and logical, but they also contain a lot of wry wits and humorous comments. It is unusual for people to enjoy technical books, but his books are fun to read.

Shakespeare - Each Play in One Line

Shakespeare wrote more than 30 plays, it is difficult to choose which to read. Here is a list of plays, each follows by one line of summary.

All's Well That Ends Well
Helena manages to marry Bertram, but he does not agree to be a true husband to her until she tricks him into sleeping with her.

Antony and Cleopatra
Mark Antony's love for the exotic Cleopatra brings about his downfall at the hands of Octavius Caesar.

As You Like It 
Exiled from a corrupt court, Rosalind and Orlando flee into the forest, where they fall in love and their problems are resolved.

Comedy of Errors
Antipholus of Syracuse and his servant Dromio visit Ephesus, where they are repeatedly mistaken for their twin brothers, Antipholus of Epheseus and his servant Dromio.