Cord Houle: Tianjin day 4
Today our class was on economics and marketing. The bulk of the lecture was talking about Chinese GDP growth rates and economic trends within china. This was a very interesting, albeit dry lecture. The professor did a great job to identify both positive and negative trends within china. Some of the positive trends are its growth rate even in the face of a global recession and Chinas high amount of foreign reserves. Some of the negative things mentioned where the high leverage to exports during a economic downturn and a slowdown in housing purchases and starts within china. A major trend that was pointed out was a fundamental shift in Chinese policy; this shift was that the government would start to focus on expanding the domestic consumption part of the GDP and scale back the reliance on exports. Once the majority of Chinas GDP is no longer reliant on foreign purchasing of Chinese goods, the currency will be free to fluctuate. This would most likely result in an appreciation of the Yuan to the US dollar.
After Class I had my first visit to a Chinese McDonalds. The McDonalds was BUSY, there was nowhere to sit and a mob in front of the counter. A woman with a picture menu was walking around taking peoples orders and writing them down on a piece of paper for us to give to the cashier. This made the whole process a lot easier and painless. I am happy to report that if anything the food is less greasy over here than in the states but tastes just as good. The fries were fresh and hot and the big-mac was just as it is in the states. It was a little nice to give the stomach break and feed it something it is used to.
After lunch we went to the university to play some racquet sports. Ping pong and badminton to be exact. I realized that Ping Pong in china is not the same sport as in the US… haha. But badminton was great! One thing that all students shared was that we all loved to play sports. Their favorites were ping pong, soccer, and basketball. Many of the students paid attention to the NBA playoffs in America and probably knew more about the players than I did. Overall we shared a lot in common with the students from china and they were all easy to get along with.