China - The success story

I got this from an email and i think it is worth sharing with you all guys and girls, boys and girls.

US President Barack Obama recently visited China, primarily to find out what exactly & how exactly China is doing things that makes it such a success story, surpassing all the so-called "expert economic planners" of the US & Europe.

His team found these 5 basic lessons behind China 's success - it applies equally to our beloved country Malaysia as well as other developing countries :

LESSON No 1 - BE AMBITIOUS

The Chinese believe in Setting Goals, Making Plans, & Focusing on Moving Ahead - there is always the sense of foward motion.

As an example, a huge 6-lane highway in Shanghai took only 2 years from planning to ready for traffic. In the US, 2 years will only get you the environment and local authority permit if you are lucky.


LESSON No 2 - EDUCATION MATTERS

The Chinese are obsessed with ensuring kids get the right education - English, Maths & Science. They made sure that ther education system reached even the most remote rural areas - today the literacy rate in China is OVER 90%, surpassing even the USA 's 86%. According to American Educationists, the Chinese kids are way ahead of the kids in the USA .


LESSON No 3 - LOOK AFTER THE ELDERLY

The Chinese DO NOT send their elderly to nursing care centres - they personally look after & care for their parents. In the US , nursing care of the elderly is now costing each resident USD 85,000 annually, & this is rising. The Chinese also believe that the grandparents at home make the best tutors for their children. It also provides a sense of cultural continuity - this helps bind society.


LESSON No 4 - SAVE MORE

In the USA , savings dropped to zero in 2005, and is only now slowly rising to 4%. In China , the savings rate for every household has exceeded 20%. The Chinese believe that fugality & a healthy savings rate are a sure indicator of a country's financial health. High savings lead to increased investments - results in increased productivity, innovation & job growth.

In the West, & aped by our Malaysians, the status symbol is to spend more than you earn, with as many credit cards as possible. In the end, the whole country gets into debt.

LESSON No 5 - LOOK OVER THE HORIZON

In China , eveyone is foward looking - never backwards. New graduates make a vow - never ever will their children & grandchildren ever work in the fields again. With this kind of foward mentality, people are always thinking & planning how, not just to succeed, BUT how to be the best in the world in everything they do.

Well according to reports, China or The People's Republic of China (PRC), is the most populous state in the world with over 1.3 billion people.

At about 9.6 million square kilometres (3.7 million square miles), China is the world's third- or fourth-largest country by total area and the second largest by land area.

China is the fastest growing major economic power in the world today.

Since economic liberalization began in 1978, China's investment and export-led economy has grown 70 times bigger.

China is also the world's second largest nominal Gross Domestic Product at 34.06 trillion yuan (US$4.99 trillion), with per capita income of US$3,700.

Infact, China's economy is second only to the United States.

China success stories are believed to have begun in the year 1978 when then leader, Deng Xiaoping initiated China's market-oriented reforms.

In terms of Tourism Industry, China is the fourth most visited country in the world with 50.9 million inbound international visitors in 2009.

According to World Trade Organization, WTO, Chinais the world's second largest trading power behind the US with a total international trade of US$2.21 trillion.

Its foreign exchange reserves have reached US$2.4 trillion, making it by far the world's largest.

China owns an estimated $1.6 trillion of U.S. securities and holding US$801.5 billion in Treasury bonds, making the nation the largest foreign holder of U.S. public debt.

It is the world's third largest recipient of inward Foreign Direct Investments, FDI by attracting US$92.4 billion in 2008 alone.

China's foreign investments of US$52.2 billion in 2008 alone has also elevated the nation as the world's sixth largest outward investor.

Well done and continue shining China...!!!