Case Blog

In the fall of last year I wrote about doing business in China and the many trips I made to China during my time at Reed Business (B2B in China). As I watched the XXIX Olympics’ masterful and beautifully choreographed opening-night ceremony on Friday evening, I thought back to many of my visits. My last one, in the fall of ‘06, when Mary Claire accompanied me, was one of my most memorable and as always my dear friend Hugo Shong was an impeccable host.

The historian Arnold Toynbee’s prophecy that the 21st century would belong to China is becoming more and more of a reality to the global community. This is China’s time on the world stage. As host to these 2008 Summer Olympic Games, the world will watch with awe and fascination this rich and complex culture.  I trust that it is time for me to plan another trip to China in the not too distant future. History is clearly a “long march” and there remain many opportunities for media investments for those who have patience.  I believe that the B2B sectors, in particular, will provide excellent returns over the long term. I also sense that the events and exposition business will prove very profitable.

For those of you now in Beijing, my favorite high-end restaurant is Tian Di Yi Jia, which translates into Heaven & Earth Restaurant. It is located at 140 Nan Chi Zi Dajie, Dongcheng, in Beijing. The phone number is 8511-5557. It is only a 5-minute cab ride from the Grand Hyatt Hotel. The cuisine is superb and it has a world-class wine list, with many first-growth Bordeaux wines, as well as outstanding wines from other parts of the world.

In late June, I wrote in a posting titled “Summer”: “As we move into summer, the financial markets continue to be unsettled, with the surge in oil prices continuing to depress the stock markets. Is this surge truly driven by demand from growth economies like China and India? I have a hard time reconciling this with the slowdown in growth the last several quarters around the globe, including both China and India. How much of this is driven by commodity speculation, which is fed by a weak U.S. dollar?” This past week we continued to see the price of a barrel of oil spiral downward to $116 and it now looks like a $100 per barrel price may be closer to becoming a reality than a $200 per barrel price. This fall has taken place concurrently with the strengthening of the U.S. dollar versus the Euro and other world currencies.