Chinese Determination Put on Display in Pollution Clean Up

I have already written several posts concerning my recent trip to China. Today, I want deviate a bit from financial planning and share my thoughts on a problem for which China has received a lot of attention. When I was in Beijing, I had the opportunity to witness the amazing efforts made by the Chinese government to alleviate the pollution that was strangling its capital city. There is nothing like the world stage of the Olympics to make a country clean up its act ... literally.

When I visited Beijing in October 2007, the pollution was a palpable component of this busy city. The only time I could see the skyline and the beautiful mountains in the distance was after a heavy rainfall washed away the contaminants. The smog and stench reminded me of Los Angeles in the 1970s, which is not a pleasant comparison.

My trip last month came just as the Beijing Olympics had reached their conclusion. The efforts that had been made to curb pollution were still evident, with factories idled and construction held to a minimum. Los Angeles and Beijing once again shared similar skies, but this time it was because the air was clear.

It took Los Angeles twenty to thirty years to clean up the pollution that had clogged its environment. Beijing accomplished the same feat in about three months. The work done by the Chinese shows that real and substantial improvements can be made to the level of pollution. And, it reinforces the point that the Chinese government will work until successful completion at any task it is given. This point is important to keep in mind not only in terms of environmental policy, but also when considering global economic power and the desire of the Chinese to be the dominant player.

Our systems of government are quite different, so we certainly cannot expect (nor want) our leaders to take the drastic steps ordered by the Chinese to clean up for the Olympics. However, the transformation of Beijing serves as a fascinating model for our study.

Sharing a Series of Interviews With You This Week

I have participated in multiple radio and internet interviews recently and I will be posting those conversations on my blog throughout the week. I hope you will take the time to listen to these broadcasts as they provide insight into my background and the services I offer.

This interview covers a wide range of topics related to financial planning. You will learn why I am a financial planning consultant and not a financial planner. Also, I discuss the critical reasons that every investor must be wary of those who call themselves financial planners and seek your business. You also will hear some of my specific recommendations regarding savings, stocks and your overall management of your financial affairs.

The interview runs about forty-five minutes in length and I appreciated the opportunity to discuss my background as well why I have such a passion for my field! If you want to learn more after listening to the exchange, please visit my website for more information or to set up a personal coaching session.

New Article on Firing your Financial Planner!

I wanted to let you know about an article I published recently with several online media outlets. In the piece, I answer the central question of my professional outreach -- why you should fire your financial planner.

I am not necessarily advocating that you never seek the guidance of a financial planner. Instead, I want to encourage you to enter the relationship as an educated consumer. You need to know if your planner is a good listener. You must find out how he or she is compensated. You should research enough about money management to determine if you are receiving sound advice.

Please check out the entire article and then let me know what you think! If there is a way that I can counsel you through your financial questions, I would love the opportunity to meet with you.

Some Initial Thoughts on Watching the Economic Collapse from China

As I mentioned in previous posts, I returned to China recently for further research on my interests surrounding The China Boom. You likely already know that the United States economy is very dependent upon the financing it receives from China and other countries whose economies are experiencing record growth. China has become a leading creditor to the United States, and that is an uncomfortable position in which our country has placed itself. It does make for a fascinating study, though, concerning the changing dynamics of our global economy. I look forward to unveiling my findings to you through my articles and videos. In fact, I have so much that I want to share about my visit and I plan to do so over several posts.

I had the unique perspective of observing some of the economic meltdown that was occurring in the United States from the other side of the world. While I was away from home, Lehman Brothers, Merrill Lynch and AIG all collapsed. I was given a particularly interesting perspective in regards to Lehman Brothers. When it was announced this global investment bank had failed, I was in Hong Kong. The news that day was filled with photos of Lehman employees exiting their offices with boxes of personal items in hand. There was a great difference between Hong Kong and the U. S. however. As the educated and experienced business men and women exited their offices, other banks and investment firms were waiting to scoop them up with new job offers. Despite the words of warning we often hear concerning the superior education received in many Asian countries (and some of it certainly is warranted), there apparently is a shortage of personnel with the specific skill sets needed for investment banking in Hong Kong.

With our markets so intertwined, this news from America made headlines every morning in China. There was understandable concern in the Chinese media regarding how the strain on the United States economy would impact China. Attempting a quick, preventative measure from the effects overseas, the Chinese government immediately infused billions of Yuans into their banking system. They also immediately lowered their benchmark interest rates. As we have seen almost every day since the collapses began, other countries around the world have followed suit by taking measures (sometimes drastic) to protect their financial systems from the aftermath of the problems in our country.

Most of the news reports have focused on the doom and gloom of our economic situation, and there undoubtedly are serious problems that will be with us for some time to come. I do not want to underplay the severe repercussions that our businesses and homes will be feeling. However, there are some positive developments to this crisis with respect to the balance of trade. As the dollar weakens, American products become more attractive abroad and it makes more sense to manufacture various products right here instead of paying the costs for overseas investments. The possibility of new jobs and a higher level of exports must be remembered as the other side of this financial coin.