New Year's Party and Dinner!
Again SILC is providing a wonderful dinner for us at the end of the year - the Lunar or Chinese New Year (as we sometimes call the end of the Lunar New Year in the U.S.). SILC treats us extremely well, in my opinion, and so the SILC students had their party on Wednesday night; the faculty and staff party - yes, complete with skits, tea, etc., will be today beginning just after noon.
The lunar new year is actually February 7th but the Chinese want to be home FOR the new year, much like we Christians like to be home for Christmas. So the Chinese take the trains (mostly) to get home for about a week previous to the holiday. Try to imagine (because if you haven't lived in China - or India - it is almost impossible to imagine) one and a third billion people all trying to get home for Christmas! That will be the pressure on the transportation system during the next few weeks. For us at Shanghai University, the holidays begin on January 23 (not until 5:30 pm for me as my class lasts until 3:50 and so I will catch the 4:45 bus back to Jia Ding campus). Many of the foreign teachers will take this opportunity to travel in the area outside of China. Vietnam, Cambodia, Thailand and Malaysia are places that I have heard mentioned. Yes, some of us will head home as well (Sydney and the U.S.A.)!
I will leave at 5:05 pm on Thursday, January 24th from Pudong Airport. Shanghai is divided into two halves on the Huang Pu river. Puxi is "xi = west" of the Huang Pu and Pudong is "dong=east" of the Huang Pu river. Pudong is where the new financial district and the new international airport is situated. Puxi is where the "Bund" or old foreign sector - the French Quarter, People's Square, and Hongqiao airport - the principle domestic airport, is located. Domestic flights do fly from Pudong as well but international flights only originate from Pudong airport. China Eastern Airlines (the company) is being heavily fought over at the moment due to their lucrative Shanghai connections and the desire of many airlines to make Shanghai a "hub" as it is now quickly becoming for many.
The tough challenge, about the break for me (as a Professor), is that the students will be gone and not thinking about finance/economics for the next three and a half weeks! Therefore, they will return for two weeks of class and then final exams! As the final exam is comprehensive and made by another professor for ALL of the Financial Markets and Institutions classes, I need to prepare my students as well as possible for any question which may be asked! Therefore, I have given them the assignment previously mentioned! (A huge YEA! resounded through class as I say "not thinking about finance/economics"!!! - laughing!)
The financial and economics news does not stop, however: In addition - the Chinese government has established direct price controls, raised the reserve requirement and lowered the price of diesel fuel (news JUST reported today). So the interesting break will provide a hugely entertaining end to the term - first next week, before break, as I explain these policies and their effects on banking in the U.S. and China, and when we return new U.S. GDP numbers, etc.!
What a wonderful time to be teaching finance and economics!!! Especially in the People's Republic of China!!!
The lunar new year is actually February 7th but the Chinese want to be home FOR the new year, much like we Christians like to be home for Christmas. So the Chinese take the trains (mostly) to get home for about a week previous to the holiday. Try to imagine (because if you haven't lived in China - or India - it is almost impossible to imagine) one and a third billion people all trying to get home for Christmas! That will be the pressure on the transportation system during the next few weeks. For us at Shanghai University, the holidays begin on January 23 (not until 5:30 pm for me as my class lasts until 3:50 and so I will catch the 4:45 bus back to Jia Ding campus). Many of the foreign teachers will take this opportunity to travel in the area outside of China. Vietnam, Cambodia, Thailand and Malaysia are places that I have heard mentioned. Yes, some of us will head home as well (Sydney and the U.S.A.)!
I will leave at 5:05 pm on Thursday, January 24th from Pudong Airport. Shanghai is divided into two halves on the Huang Pu river. Puxi is "xi = west" of the Huang Pu and Pudong is "dong=east" of the Huang Pu river. Pudong is where the new financial district and the new international airport is situated. Puxi is where the "Bund" or old foreign sector - the French Quarter, People's Square, and Hongqiao airport - the principle domestic airport, is located. Domestic flights do fly from Pudong as well but international flights only originate from Pudong airport. China Eastern Airlines (the company) is being heavily fought over at the moment due to their lucrative Shanghai connections and the desire of many airlines to make Shanghai a "hub" as it is now quickly becoming for many.
The tough challenge, about the break for me (as a Professor), is that the students will be gone and not thinking about finance/economics for the next three and a half weeks! Therefore, they will return for two weeks of class and then final exams! As the final exam is comprehensive and made by another professor for ALL of the Financial Markets and Institutions classes, I need to prepare my students as well as possible for any question which may be asked! Therefore, I have given them the assignment previously mentioned! (A huge YEA! resounded through class as I say "not thinking about finance/economics"!!! - laughing!)
The financial and economics news does not stop, however: In addition - the Chinese government has established direct price controls, raised the reserve requirement and lowered the price of diesel fuel (news JUST reported today). So the interesting break will provide a hugely entertaining end to the term - first next week, before break, as I explain these policies and their effects on banking in the U.S. and China, and when we return new U.S. GDP numbers, etc.!
What a wonderful time to be teaching finance and economics!!! Especially in the People's Republic of China!!!
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