Sunday, October 17, 2010

Where Do I Bring Up My Children?

In 2004 I had dinner with someone in the Netherlands. The question then was where does he bring up his children. The concern was the great influx of foreigners in the Netherlands and that perhaps the US was a better place. In 2010 I had lunch with a Chinese couple living in the US and the same question came up, except this time they were considering China.

China has its problems but China supports the entrepreneur and has managed its economy better. If you do not worry about the "freedoms" assured by the Constitution or fear that the current administration will wipe them out then China is a better alternative.

China Daily reports a 9% growth in China's GDP for the next year:

China's gross domestic product (GDP) will grow about 9 percent next year, but the economy will be challenged by rising labor costs, liquidity problems and difficulty in sustaining rapid growth in the long run, a senior researcher at the country's top think-tank said Saturday.

The very idea that given the current mess in the US economy and the current pressure to destroy the entrepreneurial markets by the current administration means that China looks better for the next generation. This may be a first.