American Indian girl won the third place of national Chinese story telling competition in Singapore

Amercian Indian girl Meera came to settle down in Singapore with parents when she was 1-year old. The first language she picked up is Chinese. Her mother arranged her to learn Chinese from a neighbor working as a Chinese language teacher. They make Chinese conversation for two hours every day to practice the speaking and pronunciation.

Nine years later, Meera won the third place of the national Chinese story telling competition in Singapore, with clear articulation and mellow tune. In the past one year, she has won twice the third place in two Chinese speech contests.American Indian girl won the third place of national Chinese story telling competition in Singapore

Meera’s mother Subra understood the importance of Chinese language and started to cultivate the her daughter’s interest in Chinese language. She said, “We hope that she gets the spiritual connection with Chinese culture, especially when people from all over the world gather together, we cannot ignore the multi-culture because of our Indian origin.”

Meera is a fourth-grade student in Anthony girls’ school, studying Chinese as her second language. Since the second grade, she has been always assigned to the best Chinese language class and leading the way. When she joined Chinese drama class, Meera was praised by the teacher of her acting talent.

Meera said, “I like telling stories and won’t feel nervous at the stage. I want to participate in more such competitions in the future.”

Because Meera’s parents can’t speak Chinese, she went to the cram school for Chinese language classes from 4 to 8-year old. When she goes to bazaar with parents, she will grasp the opportunity to practice the dialogue with the vendors. Subra said, “Once we ran into one taxi driver, he insisted on not charging us because he thought Meera’s Chinese is so great.”

At home, as a Hindi language teacher, Subra communicates with Meera in Hindi and Meera’s father in another Indian dialect Konkani to make sure that Meera masters the mother language. Meera can also speak basic Philippine Tagalog and Spanish. Her parents plan to let her study one Chinese dialect such as Hokkien or Teochew.

It is reported that Chinese story telling final match of Singapore national primary schools was held recently in Tao Nan School, with a total participant of 56 schools and 106 students. The competition has marked its 12th anniversary.

Gold demand is falling sharply in China and India

China and India have the largest demand for gold in the world, however, two countries are getting a sharp downturn in demand for gold this year. Contrary to the situation in Asia, gold becomes popular in Europe. With many uncertain factors such as UK’s exit from EU, FED’s expectation of increasing interest rate cooling down, Italian bank industry’s predicament and US presidential election, the demand for gold in the west soars.

Gold demand is falling sharply in China and India

Consumption decline in the two biggest gold importing countries

China’s domestic demand in physical gold slumped. Gold and silver jewelry sales in the 50 national key large-scale retailers fell by 20.9% in the first half of 2016, 22% below that of the corresponding period last year.

In the aspect of the consumption, the national gold consumption has diverged in the first half of 2016. The national total gold consumption was 528.52 tons, down 7.68% year on year, in which gold jewelry consumption 340.64 tons, down 17.38% YoY and gold bars 128.19 tons, up 25.33% YoY.

Gold demand is falling sharply in China and India

India also showed a sharp drop in demand for gold, with the lowest imports for decades.

Due to the minimal domestic gold production, India is highly dependent on imports. In recent years, the country’s import mainly falls from 700 to 900 tons, reaching 947 tons in 2015.

Gold demand is falling sharply in China and India

Since Indian government continuously imposed on import restrictions and taxes, India’s gold import totaled a mere 130 tons in the first half of this year, touching the lowest level in the at least last 20 years. India’s jewelry demand in the second quarter fell to 69 tons, down 56% YoY and net investment down 40% YoY.

Prithviraj Kothari, president of India’s largest gold dealer RSBL, said, “Nearly all the dealers and banks didn’t get little business in the past five months. It is difficult to adapt to Indian government’s changeable policy. At the same time, it is hard to bear a discount of 30-100 dollars per ounce.”

Gold demand is falling sharply in China and India

Gold investment in the west rises up

Report from GFMS on July 26 showed a major increase in gold investment in the west, which helped offset the impact of falling demand in Asia in the second quarter. GFMS raised its estimate of this year’s gold price, in response to doubts on the economic prospects.

The report claimed that raising the estimate reflects the strong increase of gold price since the beginning of the year, as well as the market shift caused by the heightened uncertainty of economic and political future, including UK’s exit from EU, FED’s expectation of increasing interest rate cooling down, Italian bank industry’s predicament and US presidential election.

Gold demand is falling sharply in China and India

The above concern has led to the warming curve on gold investment in the second quarter. The funding flocking to gold ETF offset the impact of decreasing demand of Chinese and Indian buyers, which eased the oversupply situation in the gold market. Total gold ETF inflow in the first half of this year has reached 568 tons, as the highest semi-annual inflow scale.

The situation in the second quarter of 2016 is similar to the first quarter in which gold demand in China and India is very weak, but very strong in western market, especially triggered by the consecutive demand of ETF in the second quarter, at the same time, the asset allocation got re-assessed and gold has been listed in a more positive place.

Gold demand is falling sharply in China and India

China and India will highlight Asian investment

On January 8th , the latest strategy report  from Julius Baer pointed out that Asia will continue to benefit from the favorable investment situation in 2015. The reason lies in the following three points: the long-term high correlation between Asian and European markets and the good prospects for the latter next year; the relatively loose monetary policy to be maintained by the world’s major central banks; the reasonable valuation in Asian stock market.

China and India will highlight Asian investment

The analyst in Julius Baer anticipated that China and India will become Asia’s best performing economies thanks to the diverse reform initiatives. Meanwhile, Japan’s performance can be expected as well, thanks to the local QE policies and the re-adjustment of pension allocation. In addition, the recent fall in oil price will benefit the economy in almost all Asian countries, enabling the government to apply the existing fuel subsidies to the fields that can enhance more the productivity, such as education and infrastructure, in order to further promote the long-term economic development.

Julius Baer emphasized that in addition to China’s A-shares, the other major Asian markets are highly correlated with the US and European market trends. Julius Baer Strategy Head Christoph Riniker predicted that next year the total return of the S & P index is about 4%, the return of the German Frankfurt DAX index is about 7%, which indicated that the overall market environment is quite favorable to the Asian markets. In view of the United States and Europe are the world’s two most important economies, the US Federal Reserve and the European Central Bank’s policies are very significant for the Asian economies and markets and currencies. The US FED led by economic liberals, the positive but not high economic growth and the low inflation have prompted the United States to launch the “normalization” process of interest rate in a slow and gentle pace. At the same time, the economic growth of the euro zone in 2015 forecasted at only 0.8%, the ECB’s loose monetary policy is bound to last longer.

Movie night: “American Dreams in China”

The first time I finished watching this movie, I was feeling so touched, because it reflects what really happened in one Chinese generation that strived to go to US, to study there and tried to settle down by any means.

The movie is about 3 friends, as any student of their generation at that time, who hold one same dream of going to US and meet various difficulties while chasing for that dream. They were very close friends and then apart because of the dream, and finally they again reunited in China and built a successful English language school called “New Dream”. This school helps Chinese teenagers to make their dreams of going to US come true. Before the three co-founders were standing proudly in American stock market for IPO, many story happened with them.

It is said that this stroy is actually telling the real history of China’s largest GMAT, GRE training school “New Oriental”, while the leading actor was interpreting almost similar life of its founder Minhong Yu.

That generation was a hard-working one, many of whom have become successful and are living a decent life in US, but the efforts they put and the pain they went through at that time can only be illustrated in microcosm by this great movie.

This week, one of my Indian friends came to give the sweets, for he has got US Visa and is leaving to Texas next month for further study. In China, the same is also happening. More and more Chinese students go to foreign countries to study and many Chinese families are also applying for immigration to US, Australia, Canada etc.

While the life of next generation is getting better and better, do we still remember to tell them such a story where everybody is struggling for an opportunity to go abroad?