Hailin's Weblog

November 9, 2007

Yahoo, China

Filed under: social — Tags: , — Hailin @ 4:09 am

great wall

U.S. congress grilled Yahoo for revealing the identity of Yahoo mail user to the Chinese government three years ago, resulting in the journalist’s long jail sentence.  I commend U.S. congress for taking the high moral stand and acting on behalf of a Chinese victim. Only U.S has the courage to do this.

Meanwhile, some friends often wonder what China is really like. Being raised in China and educated in the U.S., I feel obligated to share a few words.

China has a market economy under the hood of socialism.  After the former soviet union fell apart, China wisely changed its direction to fully endorsed capitalism. At the end of  his 17-year presidency, Jiang Zhemin did a remarkable thing – he redefined the nature of the communist party (CCP), the ruling party in China.  The new nature is that CCP must unswervingly represent the advanced forces of production, the progressive course of culture and the broad interests of the majority of the people.  In other words, CCP has abandoned the century long doctrine – a party for the proletarian, and is going to endorse the trend of civilization, modernization, and hopefully democracy.

Over the past twenty years, China and the world are increasingly integrated together.  The past decade has witnessed many Chinese high tech companies venturing to NYSE or NASDAQ. BIDU, SINA, etc have become investor’s favorites.  One of my friends, Dr. Michael Zhao, CEO of Array Networks, was the cofounder of AsiaInfo, which occupies a place in history as the first mainland Chinese founded high tech company listed at Nasdaq.

With a thriving economy and second largest Internet users population, China offers lucrative opportunities for investors. Bill Gates calls China has “the most open capital economy”, and Warren Buffett made over three billion dollars in PetroChina stock alone.

For thousands of years, Chinese thought the ancient land was the center of the world.  One century ago, they realized that the rest of the civilization is ahead of them in the race. Now China is embracing the world, and world has gradually acceppted her.  In the process, I believe we are having a better world.

1 Comment »

  1. Wonderful post. I stumbled a little bit on “Only U.S has the courage to do this”. You don’t think other “western” countries would do the same? Possibly even more?

    Comment by Lloyd Budd — November 9, 2007 @ 4:28 am

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