_Transfer_ Wall Street Journal: We think they sweat

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					(Transfer) Wall Street Journal: We think they sweat
The Wall Street Journal: We think, they sweat
The current situation of Sino-US trade surplus of China, the U.S. deficit, and this
figure is particularly great. On the surface, China bought a lot of products to the
United States, out of the U.S. industrial unemployment, trade unions forced the
government today, the entire quota, and tomorrow the whole anti-dumping, in order to
reduce China's export capacity has also requested China to let its yuan
appreciate all day. The result is the United States is full of Chinese products,
China's foreign exchange reserves rising to become the world's
factory. Gives the impression, as China gradually attack in the United States, the
United States could only parry but not defenseless.

But trade unions is not the U.S. ruling class. Why the growing opposition within the
United States, the U.S. industrial transfer but more and more serious, is it the U.S.
government can not control the What? In fact, the truth is that the current situation of
Sino-US trade of great benefit to the United States, it is the consistent stand of the
Wall Street Journal, it can be said that the views of the real rulers of the United States.
The newspaper has an article today, "We Think, They Sweat", It
is plain, however, is simply the naked imperialism of speech, I can not help but think
of TV series "Towards the Republic" Li's remark
lines: "This like the wolf say Well! "

Article not long, the following main points I compiled about, the original attached to
the back.

- - First mention of Apple's current flagship product, mp3 player, iPod.
Now the U.S. market, this product is assembled, the California Apple design. This
thing is nothing but Apple's software, disk, and a very low value of 12 U.S.
dollars in the chip, the chip design of a company by the Silicon Valley of Taiwan

- - Almost $ 265 price of the iPod, which is how the distribution of net profits then?
Responsible for assembling the company's profit in China only about 4 U.S.
dollars to design the chip is 5 dollars for corporate profits, Apple's profit:
65 U.S. dollars.

- - Because the iPod's success, over the past year, Apple's stock
price rose to $ 64 from $ 21.

- - Because China's "imported" iPod, China-US trade
deficit the United States increased by 1.5 billion U.S. dollars, which caused a deficit
of 1.5 billion increase in wealth in the United States is 160 million. The writer says, I
am willing to be such a deficit every day, of course, that Apple stock holders are

- - In this case let the yuan appreciate what a falling dollar mean? If the depreciation
of the dollar, foreigners buying U.S. Pentium chip, iPod, windows xp and oracle
database when access to a "fundamental unnecessary" cheap.
Simply do not need these things sold to fraudsters, because since they are running
their own economy in order not to buy is out. They have to buy them anyway to run
their economies (well, maybe not iPods) so why discount?

- - The writer says the U.S. is willing to remain strong, the United States to do
high-end. Allow foreigners to do the manual labor income, the United States to do the
work of the high-tech intellectual property rights, drugs, Hollywood movies, and the
band U2.

- - China and Japan's foreign currency reserves are mostly loaned to United
States again, to buy U.S. government bonds, which author is welcome. On that
foreigners have about 43% of all U.S. Treasuries, this way we would not have bought.
Who wants to only 3% reporting rate bonds? We want to buy those high-profit
company should buy the stock. . . . . . .

- - Finally, the author, we do not need to let the dollar, let the Chinese and Japanese
stop buying U.S. dollar assets it so that they can make their currencies cheap in order
to continue to our export their industrial products. Our eyes on them to sell the
production of these products better tools needed to become rich.
   Industrial society has been completed, while the knowledge economy and new
wealth generation mechanism.
Open the Toshiba laptop, it has a value of 300 dollars for the Intel chip (Intel can get
250 U.S. dollars from profits) and a value of 50 dollars in Microsoft licensed its
operating system (Microsoft, available from 49.95 U.S. dollars of profits), then this
laptop Toshiba was sold back to the United States, the price is 1000 U.S. dollars. If
lucky, Toshiba and other suppliers can get in this transaction profit of 50 dollars, all of
the profits.
In this case, the value of 300 dollars worth of Intel chips and Microsoft operating
system license 50 dollars in exports from the United States, 1000 U.S. dollars worth
of products they import into the United States. Although the United States was 650
U.S. dollars of trade deficit, a net gain of 300 dollars but other countries may be in the
process only 50 dollars, more critical is the Americans control the size of profits and
the flow direction.
Which you will invest in the economic system? Answer of course is self-evident.
In the "manipulation of money - the wealth of game knowledge
economy" and the "Wall Street Meat," two books,
安迪凯斯勒 humorous writing style with a detailed review of his investment career,
there was a good performance as a Morgan Stanley stock analyst and hedge fund
managers, he wanted to find out where the wealth of knowledge economy? it going?
"Wall Street Meat," a book is mainly described as a securities
analyst Kessler growth process, through a tone of someone who reveals the wealth
behind the Wall Street greed and cunning. Kessler was originally a Bell Labs engineer,
and later went to Wall Street's investment securities of companies engaged
in high-tech industry, with the chip in the field of technology, especially the familiar,
as companies such as Intel and Motorola, "ax" (referring to the
company Analysts predict profits). However, the gradual shrinkage of the securities
brokerage business and the gradual impact of the Internet wave, the Wall Street
investment banking business has become the mainstay of many analysts who adhere
to abandon the concept of service for investors, with the company's
investment banking business to make a variety of mislead investors, the report, Wall
Street has become the "meat."
In order not to be trampled upon this piece of "meat", more of
the wealth not only be a bystander, Kessler came to Silicon Valley, with another
partner set up a hedge fund, began investing in high-tech companies in Silicon Valley
I hope to participate in wealth creation upstream. "Manipulation of
money," Kessler book describes the Silicon Valley investment career. He
and partner Fred sat every day, "the office of the four doors"
(car) to participate in various meetings, to visit a large number of companies to find
those who are neglected by everyone the details, most mining companies have
investment value. In the constant search for the process, he also thought the wealth of
knowledge economy mechanism, sorting out the framework of their own thinking to
find a business investment of the three tips: a huge market (the devil market), superior
competitive advantage (not unfair advantage), the operation of the business model that
advantage. Kessler practice in the course of this idea, he realized the truth: investment
"never too late - as long as some new inventions to save costs and to help
market development."
Kessler think that to invest in the future, or those with long-term development of new
technology companies, even though their products may rapidly lower the price, but
they are an important part of industrial chain, and even the birth parent of new
industries. He era of knowledge economy perspective to analyze the 18th-century
industrial revolution steam engine caused the capital story, "which there is
market demand (mine flooding), technology (Watts and Wilkinson precision
condenser cylinder), capital (Bolton money), intellectual property (patent Parliament
Act), and idle labor (no land available for the farmers). "With the
expanding range of applications, steam power generated by falling prices, but when
the textile, transportation and other industries when to start using steam, waterfall
effect appeared.
Knowledge economy and business rules did not change the core nature of that
waterfall effect will have to find those companies. Although these products is small,
inconspicuous, but almost all companies have to use it, waterfall effect can be, but
money will be endless, this is the "manipulation of money"
nature. Such as computer CD drive to use the laser diode, then the investment in laser
diode is a good choice. Elan's business are not many outstanding shares
Shaorenwenjin, but Kessler after repeated investigations, understand the production of
laser diode driver, can be downloaded for free MP3 music become possible, which
each computer must drive the price with only two U.S. dollars, investing in the
company so that Kessler was a very high return.
40 dollars for every sale a Logitech mouse, Chinese producers receive only about 3
dollars, while other money was the U.S. design, chip and component companies make
away. Chip design industry is how the model - the American design, e-mail sent,
commissioned by China Taiwan Taiwan Semiconductor Manufacturing Company for
its large number of low-cost chips. An 8-inch wafers in 2000 of potential chip, cost
only 2,000 dollars, while a chip can be sold for 20 dollars starting, even if the
competition has also sold 10 U.S. dollars, from each chip to earn at least eight U.S.
dollars. Perhaps, this chip installed in the DVD machine in China has sold to U.S.
consumers. On the surface, China won the DVD machine for 99 dollars, but profits
only 2 dollars, but the creation of a 99-dollar U.S. deficit, in fact the United States to
earn profits far higher than China.
This illustrates a knowledge-based society and the differences in the industrial society.
In Kessler's view, "industrial society has ended", but
the scale of knowledge economy is knowledge to be activated, design and
manufacturing can be separated. Developed countries like the United States as long as
the "thinking" can make money, while emerging market
countries (such as China) only through "sweat" to earn a small
profit, so is his book: "We think, they sweat . " When can we
get rid of "sweat" mode, when also able to
"think" to making money?