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advice and tips Life Life Tips

China trip: quick recap and some thoughts

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这里有一个谷歌翻译的中文版。请注意,在国内有可能访问不了这个网站。

Boeing 787

I took a quick trip to China in last 2 weeks and just got back. I left STL on early morning of 05/31 and came back late last night 6/14. The flight route is STL => DFW => PVG: one stop at DFW. I booked the flight back in January 2025. The DFW to PVG flights (both ways) were full. A side note is on the June 12/13 night (post mid-night) the Air India 787 news came. That was unsettling to say the least. Note Air India 171 used 787-8, while AA 127/128 used 787-9 (which is slightly bigger than 787-9).

DFW

I have been to DFW in the past (a while ago), it seems the terminal E is new addition since I was there last time. If my memory is correct, they used to have a rectangular kind of arrangement with terminals A, B, C and D. I did notice DFW has quite some eateries and stores, it could also be because last time I was there, I was in a hurry and didn’t have much time too look or check out. This is actually a valid point I like to emphasize – don’t forget the sceneries on the road, when we were buried in our daily grind. Sometimes I intentionally take a local route instead of highway when I was not in a hurry, so that I can slow down, and look at the two sides of the road.

The re-entry into the USA was pretty easy. There is a line for US and Canada permanent residents, and it was a short line. The immigration office took a quick look at Green Card and let me in.

Uber rides

I took Uber to airport and back to home. The 1st driver (I reserved the ride because it was early morning), is a part-time driver, his day job is a medical translator. But he works extra shift driving for Uber because he has a 17 month old and a new baby on the way. The 2nd driver is a young immigrant from Philippine, he came to the US in year 1995 (when he was 5), so he is about 35 years old: he drives for Uber full time (as much as Uber allows in terms of hour, and at his own choice as well). He did mention he makes good money on New Year’s Day and Mardi Gras.

Phone

A phone number is handy for 网约车 (Didi, Gaode or WeChat 微信出行服务), because you cannot always find Taxi in some places. I got my phone SIM card at Amazon. I activated the SIM before the trip, and insert it to my old iPhone 12 (for iPhone, only iPhone 13 and earlier has the physical SIM card slot).

I used Uber, 网约车 and Taxi 出租车 for the most of my trip: with one exception. I used an “unauthorized” vehicle for my trip from my hotel in Beilun to Ningbo railway station. You may call it 黑车,but it’s a nice Camry (probably SE and XLE with leather interior/seat). And the driver told me he used to drive for 外企,got laid off, and started driving for guests in the hotel, because some guests prefer something nicer than a taxi or a 网约车. There are always opportunities in today’s world – even in China which is considered much more competitive than in the USA. He told me his car is only about 140,000 Yuan which is about $ 20,000 (USD) – I told him his car would cost more than $30,000 in the USA (now I think it could be about $ 40k). Car industry in China is ultra competitive nowadays.

For the record, I paid about $28,000 for a certified preowned Camry LE in year 2022 (my tweet here).

trip.com

I booked the air ticket via expedia.com (I did this for last year’ trip too). I used trip.com for the HKG to NGB air tickets last year. This year I used trip.com for my Beilun hotel and Gao’tie (high speed train). I compared the trip.com with the HHonors.com (Hilton family hotels reward website) price, it seems trip.com is slightly cheaper. For the Gao’tie, it charges a few dollars of fees, but I felt it’s worth it because the ticket is tied to my CHN passport and it allows me to check in manually and board the train before the general boarding – which comes handy as I have two luggages, I mentioned the luggages and elevator below in Odds and Ends). Also: I 1st heard trip.com from an old friend last year.

Stay

I stayed at the same hotels: they are the Doubletree Beilun (as I talked about it here), and Hyatt Place Shanghai Hongqiao CBD. I noticed some small changes at both: at Doubletree Beilun, it appears they didn’t keep up the maintenance as I saw two things – one is the card reader in the elevators are not very reliable; another one is the chair in the room is worn out, and the small refrigerator is broken. At Hyatt Place Shanghai Hongqiao, they no longer offer the breakfast for free to rooms/guests redeemed via points or free night awards.

Both obviously are in cost cutting mode: but I felt the former’s action (lack of maintenance and upkeep) seems jeopardized guest experience. I understand the hotels are having a hard time nowadays due to the economy and the competition, but at the same time, I still feel there are something in hotel that had to be maintained or kept, and unfortunately the card reader and the chairs are in that category. And the refrigerator too.

Now I am thinking about switching my hotel in Beilun next time: DoubleTree Beilun does have 2 features I like – they have an indoor warm water swimming pool, and the room is very spacious. I will keep both in mind. Talking about swimming pool, I just learned Hyatt Place Hongqiao CBD has swimming pool too – “Take a break from the Shanghai sun and make a splash in our rooftop pool, located on the 11th floor, adjacent to the 24/7 fitness center.” – I will check it out next time.

VPN

Please refer to my blog post hereupdate 06-18-2025: this post is password protected now. Email me at minjie dot xu at gmail dot com for password, no spams please 🙂

Tattoo

I maybe a bit slow, but this time around I noticed many younger people in China now have tattoos, on their arms. My quick thought is the younger generation want to express themselves 🙂

A side point I want to make is: even amid China/US tensions, the top country many Chinese students/youth want to visit or study at is the the USA.

Douyin

I explored Douyin 抖音 a bit. Please note Douyin is the No. 1 video (short video, and live broadcasting) platform in China – as I just realized recently – I talked a bit about the video platforms here.

第19集|任素汐《亲爱的你啊》完整版 #无尽的尽头主题曲 # 任素汐 # 治愈歌曲推荐 有人22岁结婚生子,有人40岁读研,有人追求稳定,有人拥抱冒险;可以允许自己偶尔”掉队”,但要永远保持重新出发的勇气;在不确定的世界上,做一个温和而坚定的行动者。 “我们不需要完美,但需要完整”

If you read Chinese above, this also sort of echoes my earlier point of “slow down, enjoy the sceneries on the road while you can”.

Common question from my friends

I saw quite a few friends this time as I was going solo and have a bit more free time.

When do American people typically retire? I think I just saw a flight attendant a gentleman at the returning AA flight, and he is likely in his 60s.

Have prices gone up in America due to tariffs? ……

How do you think about the LA protests? ……

I have my own political opinion and belief – but I am going to keep them mostly to myself and my family for now.

Odds and Ends

Because I carry large luggages sometimes, I prefer elevators. But sometimes finding elevator (instead of escalator) is not easy. And once, I almost fell because a young guy tried to pass me on the escalator, and I think he pushed me a bit. I am almost 54 and was holding my two bags. This made me to think – maybe if I am 65 I would ride the elevator. I am not saying Chinese people are rude. I think there are nice and rude people everywhere (China and US). But at the same time, there are likely more nice people on both sides too. Look at the brighter side.

This can probably apply to the two questions above too: both the tariffs (trade) and the immigration too? I would look at win-win instead of win-lose in both cases.

A second point is: treat others like how you like to be treated.

PS:

You may be interested in:

2024-07-21 My new favorite hotel in Shanghai 近年来我在上海住的旅馆

A quick review of our summer 2024 China trip

Some random thoughts during my recent China trip – 我2024年夏天中国行的一些观察

China Trip Spring 2023 – observations and thoughts

China Trip Spring 2023 – logistics

Flash back – Back to St. Louis 10/28/2007

Videos

Below 2 are YT videos, by yours truly

上海嘉里中心 Shanghai Kerry Center June 12, 2025

Morning walk trail beilun Ningbo June 2025

YT Shorts – Jing’an temple plaza 上海静安寺广场 苹果店 6/12/25 evening

YT Shorts – My childhood home beilun baifeng Xiaomeng June 2025

YT Shorts – At Shanghai Hongqiao the Hub #虹桥天地

YT, by Essential Craftsman, this one is a bit deep – Why Most People Are Never Satisfied

Categories
advice and tips Life Tips

eSIM app for travel

Reading Time: 2 minutes

I am aware of two right now. They provide cellular data for travel. I haven’t personally used them yet, but may try out later on as I see fit.

MobiMatter (official website; reddit)

Sally (Reddit; heard it from Teacher Mike YT video 1st)

And one to avoid: I bumped into this junk 易博通 eSender last summer, when we were traveling in China mainland and HK. We were hoping to get a mainland mobile phone number for 网约车 rider share car services. After spending some money and back and forth with the customer service, we realized it’s a scam. We found it because they advertised heavily on WeChat.

Other choices:

International roaming

T-Mobile roaming: heard good things about them. Quite a few friends used their international roaming in CHN.

MintMobile International Roaming (minternational pass): their price is quite competitive. Last year I used their pass for my summer trip. This year I may not need it as I am not going to Canada and HK this time. (Update 06/02/25) I still bought the 10 day pass with data due to technical difficulties of connecting to gmail via other means. One thing to note: it cannot be used as hotspot for the MacBook. So in other words, I still need to find other ways if I need to use Gmail on my MacBook (not super critical if I have Gmail on my iPhone).

And I already got a China SIM card. Btw, MintMobile made Canada roaming free since summer/fall of last year.

Side note: from iPhone 14 on, the iPhones sold in the USA no longer have physical SIM card slot (they have eSIM instead). Meanwhile in CHN, a physical SIM card is still needed for a mobile phone – that’s one reason you may consider bring an iPhone 13 or older if you travel to CHN. The reason you may need a mobile phone number is it’s required if you plan to get a Uber 网约车 in CHN. Taxis sometimes are not available and many taxi drivers drive for 网约车平台 too. In that case the two eSIM apps may not be sufficient for you. Because all you have is a mobile phone number outside of CHN which will not work for 网约车。

Note: I still receive spam calls on mint mobile when I travel – and they call during the night, the carrier could not mark them as “spam likely”. This is true for China Unicom SIM card too (the spammers call during the day).

Verizon TravelPass: much more expensive than MintMobile

Note for all the options above, you can get to Google etc. without doing anything special, just like you are in HK.

VPN: obviously you still need your own internet, usually it means Wi-Fi. This may be handy if you need to get to YT or Netflix, because you would likely burn through whatever your data plan fairly quickly if you stream.

Categories
Economy Fun Technology

Is America becoming dumber and dumber

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Or it was always that way? It’s just I (dumb me) vastly underestimated some people’s stupidity. Or let’s blame the smartphones and the tech bros who helped this journey of “making us dumber” 🙂

Smartphone and Social Media

This is not a joke actually, because sometimes I joked too much and my kids usually think my “dad jokes” are not funny. Probably my wife doesn’t think highly some of my jokes either. There are research (google search) that says “social media” make people think less critically – if they were thinking critically before social media, I guess. Let me quite some results from Google search below.

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Search Labs | AI Overview
Is social media making us stupid and less empathetic? – Peerbagh
Yes, social media can make people less able to think critically and analytically, and it can also contribute to mental health issues.

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Reddit: Social Media is making us Dumber

Note with all the American exceptionalism (which in my mind, it’s a myth or overrated to say the least). I don’t think America is exceptional in terms of social media usage though – at the same time, the tech bros are raking in money from social media and overuse of big tech left and right:

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Zuckerberg’s FB/Instagram/Whatsapp;

Elon Musk’s X/Twitter (at least he hoped he could make more money from X, he did make tons of money from Tesla, with quite a bit government subsidies);

Jeff Bezos’ Amazon – earth’s biggest store, shop until you drop;

tech bros’ Google;

tech bros’ Apple;

and so on

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I do similar things on the Chinese social media platform WeChat and Red Note too 🙁 In other words, I believe overall we are all dumber because our eyes are glued to the phone or screen all the time (again if applicable, nothing personal).

Missouri aka the show money state

The outcome of recent lawsuit that awards Missouri $24 billion seems confirmed my worry. I was too simple, too naive. MO AG Andrew Bailey doesn’t seem to be a nice person, btw. As practical matters, this will just make the lives of Chinese people in Missouri a little bit harder. Because as a Chinese person who lived in the show money state since 1997, I know most people here cannot even tell the difference between Chinese, Japanese, Korean, and Vietnamese people and so on. I can’t either: when I met a Chinese couple back in January 2015 for my old daughter kindergarten registration, at first I thought they are Korean 🙂

I am expecting more “go back to your country” shenanigans 🙁

Tariff is another good example. It’s 100% shoot yourself on the foot – those who start the trade war. Here is a good example.

If a country wants to reduce trade deficit: the rational way is to reduce imports, or reduce consumption. Right: don’t buy the junks from Shein and Temu.

If a country wants to boost manufacturing sector, the country can do things such as educate young people on engineering and manufacturing, advocate and support manufacturing business (instead of doing the bitcoin and cryptos shit; or put 100% tariff on EVs from the country you don’t like), and soon. In either case though, tariffs for imports or subsidies for domestic manufacturing are interventions, in other words the Government is meddling in the market. What happens to the republicans free market narrative?

AP: Missouri plans to seize assets to make China pay a $24.5 billion judgment, but can it collect?

Categories
China Life Tips Travel

China Trip Spring 2023 – logistics

Reading Time: 6 minutes

(Update 04-08-2025) After 2 years, the sim card I mentioned below no longer works. After the painful steps of taking pictures and so on, it gave an error message saying that “the number is already being used”. So, I no longer recommend it. We bought another sim card after return the not working one. Will post an update once we get the new one working.

(Update 04-28-2023) Please note the airlines no longer ask/need #COVID #testing from April 29: 4月29日起飞往中国不再需要核酸检测,自测抗原即可。登机前航空公司不再查验检测证明,只需海关健康申报二维码。source: #flychina https://flychina.com/update.asp || This is good news 🙂

(Original) I have a twitter thread here, and quite a few YouTube shorts or videos on this trip (hashtag: #ChinaTrip2023).

But I think it’s probably worth an article or two for me to put down the life cycle of the trip, from planning, buying the tickets, to execution (the trip itself, flights, transfers, and entering/leaving borders etc.), as those tips may be helpful for overseas Chinese or some other international friends to visit China. I think it maybe helpful for me to refresh my memory too, for example, today at #STL I forgot where should I wait for #Lyft or Uber: the Lyft app itself says where, btw. I had to admit that I haven’t flew for a while: I believe my last trip via STL is the PVG trip before pandemic (Nov/Dec 2019). Another example, related matter, I forgot the allowance of luggage is one, and I have to pay either 10,000 miles (Delta Skymiles) or $100 (United Airlines) for the 2nd luggage.

Air Tickets

I bought mine at Expedia.com on Jan 29, 2023. Other good place to buy/check ticket is flychina.com. I flew from my city to DTW, waited for 12+ hours, and from there flew to PVG (direct, no more stop at Korea/Seoul Incheon (ICN) ). On the way back, I took UA 858 that’s PVG to SFO, and later transferred at ORD(a redeye flight from SFO to ORD), before coming home. There was some hiccup in terms of changes and posting the miles to the frequent flyer miles. I believe after I booked the United Airlines Mar 29 flight from PVG to SFO, United likely added number of flight per week, thus making the Mar 29 departure flight no longer available. That’s why I moved to Mar 30 departure date, and have the SFO to ORD redeye flight. The change process in the United Airlines website was relatively smooth. Another small issue was it was long time ago that I bought air ticket on Expedia.com, and unfortunately I still had the old United frequent flyer number on Expedia, as you may know United adopted the Continental frequent flyer number post merger (which I have in my United account). Long story short, as of now, we can claim the miles via this web page. The miles were posted for me immediately after I submit the form 🙂 Update 04-10-2023 NYTimes has an article explains the air ticket shortage situation – China Has Reopened to Tourists. The Hard Part Is Getting There.

Get a China SIM card

(04-04-2023) I am reporting back: this card is decent. It worked on my iPhone 5 (initially I put the new sim card in this old phone), after I turned it off and back on when the airplane just landed. I quickly swap it into my iPhone 12 on the subway (Metro line 2 from PVG to SHA, and I stayed at hotel near SHA, Hongqiao Hub). A student with Tufts U was able to make call to her dad as her sim card was expired. This card is called 蜗牛移动 4G in China (a resller of China Unicom 中国联通). I am guessing it’s small reseller: the idea here is similar to MintMobile vs T-Mobile in the US (mintMobile is a reseller of T-mobile). There was one glitch when I was trying to get 随申码(英语:Shanghai QR Code) at SJTU Minghang campus. The guard said probably my internet on the phone was too slow. It took me quote a few tries to get it work. There are one glitch: no caller ID (and I don’t know how to fix it). Another tip is don’t worry about the “warning message” in Chinese regarding data usage. It will ask one to 充值,I did not read the descriptions on Amazon. But I just trust the title or subject that says 30 days 3G data. So I just ignore the periodically message asking me to refill. As I don’t see the internet stop working after the “data used up” message.

Amazon associate link for the China Unicom 中国联通 sim 30 day card

Mandatory paperwork to enter China

Mainly we need the PCR test and also the health code (2D or QR code, commonly called 海关指尖码 in Chinese) via WeChat mini-program called “Customs Pocket Declaration“ or in Chinese: 海关旅客指尖服务. In order to fill out the form, one will need the flight number and seat number. This code has a an expiration time, but can be updated. Again make sure you have a smart phone and ideally the phone can get to Internet via cellular data, because WiFi sometimes is not very reliable at airports, and you don’t have to make this your weakest link for your carefully planned trip to see “long time no see” family and friends.  

Check in at my local airport and get boarding pass at DTW

My local airport agent asked for all the paperwork, but she still has trouble check in my luggages all the way to PVG. Her senior colleague (who looks like a Japanese descent) was able to fix. I also tried to get boarding pass for DL389 at the Delta Helpdesk: it was a fun experience for the two agents there as they don’t usually do that job. It’s usually the DTW DL389 (DTW to PVG) gate agent’s job. The latter gate agent talks a lot about the PCR tests and the health code before departure. They actually check all the relevant documents including the PCR test, before put a “checked” sticker on the passport. The boarding identity verification is done by facial recognition, btw, which surprised a senior Chinese citizen a bit. More on facial recognization latter.

Entering China

Show the QR code the 海关指尖码, then proceed to border agent. After that it seems pretty smooth, and I only saw the customs people check a (I assume) service dog.

Leaving China

Boarding pass plane open at 4:30 pm for UA 858 for 9:05 pm departing time. An older gentleman asked my help (borrow my Visa credit card) to pay the $100 extra bag fee (they don’t take cash or Chinese credit card). Note one still need to do a new health code (2D or QR code, aka 海关指尖码) and scan the code when entering the international boarding gate. The United gate agents checked in some carryons free of charge as they worry the overhead bin space is not enough for all the carryons. Similar thing happened to me (my carryon) for my SFO to ORD flight (in my case, once checked in, it goes to final destination without my intervention). So make sure you take out essentials (paperwork, phone, battery park, water bottle etc.) as you will need them for the remaining of the flights/journey.

Re-entering the US

One only need to show green card (for permanent resident), and their camera look at the face, as well as some finger printing scan. The agent who serviced me was not nice though. Note for those hold B and F visa, they will need to show the vaccination records when getting the boarding pass. This is not required for US citizens and GC holders.

Tips for travel in China

Mobile phone with data plan, here is one possibility to get a local number (Amazon Associate Link).

Apps nice to have: WeChat (and WeChat Pay 微信支付) or Alipay 支付宝。#高德地图 (GaoDe Map) for navigation and get #网约车which is similar to Uber/Lyft in the states. I know WeChat and Alipay can get the 网约车too, similar for #滴滴出行。All those apps will need a mobile phone (likely with a Chinese cell phone number) as well as identity verification (not sure how it works for a US passport holder).

Useful links and resources

回国机票价格表和检测规定: https://www.flychina.com/update.asp (in Chinese).

Also look at 美国-中国 直飞航班专区 section: right now there are direct flights between 6 US cities and mainland China (note the flights are not daily, the most frequent one seems to be the SFO to PVG flights, 5 times a week). The 6 US cities are: LAX (Los Angles), JFK (New York), SEA (Seattle-Tacoma), DTW (Detroit), DFW (Dallas Forworth), and SFO (San Francisco).

If you live in or near those 6 cities, consider yourself lucky. Because the connection time for people from other cities can be long, and number of connections are usually more than compared to 2019: e.g., I usually transfer at ORD Chicago O’here before pandemic because both AA and UA offered daily flights to PVG. In fact, now I recall I took the United Airlines flight last minute in Mar 2007 to see my then girlfriend (now my wife, I have an old blog post dedicated to this). Did you notice anything interesting regarding the blog post’s published date 🙂

What’s next and upcoming

I think I will write up some of my observations and thoughts for my trip as well, e.g., the emergence of EV which is much more than just Tesla here. Or to be more precise, I understand it’s Tesla plus a few more here, such as Polestar, Ford Mach E, Lucid, Rivian and Ford F-150 lightning, but in China, it’s BYD (Build Your Dream) in the leading position, with Tesla following, and followed by Nio/Xiao Peng/Li Xiang (all 3 companies stocks listed in the US, they are $NIO, $XPEV and $LI), as well as many players such as 零跑汽车(Leap Motor, it’s traded in HKSE as HKEX: 09863): their C11 is very impressive, btw, I would trade my Sienna with it in a second. Too bad I live in a country there is really two choices: model 3 and model Y (I hate model X’s funky doors). What I really want is something like Leap Motor’s C11 (small SUV with 600 km which is about 400 miles range 🙂 || Incidentally I came across this article abut China EV industry – China auto show highlights intense electric car competition.

Categories
gadgets

The cost of promoting TDMA

Reading Time: < 1 minuteTDMA, or TD-SCDMA, is a Chinese domestic 3G standard (Wikipedia). China was not behind the west in terms of 2.5 GSM network and applications in recently years. Actually the development of mobile phones are so successful, the total users of China mobile phones users already exceeded half a billion (source: digitimes). China Mobile (NYSE: CHL), the largest mobile operator, has more than 400 millions customers at the end of 2008.

Categories
video

Jim Rogers

Reading Time: < 1 minuteJim Rogers is a fun guy, not the ordinary fun guy, but a millionare investor who used to work with George Soros (made a fortune). These days he is very bullish on China, although I don’t agree with him on a lot of his investment ideas. I liked his light-heartness and his passion for travel. Here is video he took at China Jia Yu Guan (last fortress west side of China Great Wall).

And Zhong Shan Lin (the memorial of Sun Yat-sen, the founding father of modern China). Since this is the memorial day in China, it’s also a fitting moment. The memorial is located in eastern China city of Nanjing (a sister city of St. Louis).

Categories
Economy Investing

Bank nationalization: II

Reading Time: 2 minutesThis is the second part of my thoughts on bank nationalization, I hope President Obama and his finance team can read my blog, as they are thinking through the “bank rescue”, the No. 1 issue facing this country, and the world economy for that matter.

As I said in my previous post, bank nationalization appears bad for the existing shareholders of bank common stocks, in the sense they will get wiped out or diluted. But I also said this is merely “mark to market” for them, whether they want to face it or not, the day of reckoning will come soon or later. In the mean time, when we are waiting for the eventual take over of some of the nation’s largest banks, consumers and business get scared, they either withdraw money and put under their mattress (consumers), or stopped investing and started hiring freeze/travel freeze/lay off (business). This will have spill over effect on the world, as we are living in a increasingly globalized economy. When the rumor of China new stimulus started, the US stock market started to rally. You got the idea.

Categories
Business gadgets

GM, China 3G standard

Reading Time: 2 minutesWe all know GM is in trouble financially. Its stock (NYSE:GM) is around $6, a 50 years low. A lot pundits made fun of GM and its stock on TV or the web space. But I have a different feeling for GM. Among many reasons, I think of two:

1) In graduate school I worked in project for an automotive supplier (supplier for the Detroit big three GM, Ford and Chrysler). I went to Detroit and the Renaissance center twice because of the project. I still remember the GM engineer always asks tough technical questions.

Categories
Master Series

Buffett CNBC interview

Reading Time: < 1 minuteWhen the Master speaks, we all listen. Here is what he said on CNBC “squawk on the street” Aug 22. Note I don’t pay attention to CNBC and “Squawk on the Street”, unless it’s someone like Buffett or Gross (Pimco) speaking. Here are the transcripts at CNBC. I read it from trader1688 first. Some interesting quotes:

What Chinese company got Buffett interested?
6:22 AM: Buffett reveals that Berkshire made a half-billion dollar bid on a Chinese stock that wasn’t accepted. He wouldn’t say what stock or what industry. He did say that under the right circumstances he could have a lot of money in China, but noted that there are government restrictions on foreign ownership that must be overcome.

Buffett left some money on the table
7:05 AM: Buffett confirms that he sold 60 percent of his Anheuser-Busch [BUD 67.79 0.03 (+0.04%) ] shares at prices around $61-$62 before the company agreed to a friendly merger with InBev at a sweetened price of $70. Buffett says at the time he wasn’t sure the deal would go through given Anheuser’s strong resistance to InBev’s original bid. “In retrospect, I was wrong,” but he says that often happens.

Categories
Economy Fun

Who to blame for current financial crisis?

Reading Time: < 1 minuteGreenspan (regulators): for he kept interest rate too low (1%) for too long, during the recession after dot com bubble.

Bush (politicians): for his failed Iraq war which cost American tax payers more than 500 billions so far. He asked American “go shopping” after 911, in addition to buying a car or a house. Democrats are no better in this aspect: Fannie Mae and Freddie Mac have deep roots in Democrats leadship.


(Video by LATimes: anxious customers on day 2 of IndyMac Fed takeover)