Last night, we went to a marvelous restaurant - 1949.
The restaurant is in a complex in the middle of the business district. At relatively little expense, the owners have created a stylish oasis - one that they can knock down in a few years in order to build a high- rise on the precious property.
Dear Readers will recall that Peking duck is on our short list of the world's greatest, almost divine, inventions. Here, at 1949, we had Peking duck in Peking. And it was the best ever.
The Chinese have been the source of many innovations - from pasta to gunpowder. But Peking duck is their finest contribution to human life.
*** "Talents heed the call of home," says China Daily.
For many years, some of the brightest and best of young Chinese left the country. They considered the opportunities for education, entrepreneurship, and career advancement better overseas. Often, they went to the finest universities in Britain, Canada and America. Then, they took top jobs at multi-national companies, research institutes...and in academia.
But now they're coming home, says the paper.
We met a number of these people yesterday. US-educated...sometimes US-raised...the overseas Chinese are now finding more opportunities back in China.
Why?
Because there is more money in China. Growth rates are higher. And new businesses find capital more easily.
In short, China is booming. And booms bring prodigal sons back home.
"I studied law in America..."
"I went to university in Montreal, Canada..."
"I used to work for Baker Mckenzie..."
"I grew up in Tennessee..."
It seemed like everyone we met had ties to the US or Canada. But now they're doing business in China, not in North America...
Boom, Baby, Boom!
Regards,
Bill Bonner
for The Daily Reckoning Australia
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About the Author
Best-selling investment author Bill Bonner is the founder and president of Agora Publishing, one of the world's most successful consumer newsletter companies. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning.
Comment by Ross on 19 May 2010:
I can't do the feet, it took me 5 minutes to do 1 whenever I felt I had to be polite, and you end up leaving hungry. I'm not so polite anymore.