The Gary Guo Blog

Tough days have past, but most of us are not as happy as expected.The lower and lower scores made me and the people like me dispointed.’How did this score come out?’The once highest GPA student in our class complained to me on the MSN.Well, I don’t know, really.The way Chinese professor giving grade to their undergraduate students varies from person to person.Take Our “kindest teacher” Prof.Lu as an example,he really gave a great surprise to most of us. After a seemingly very easy exam, our scores were commonly below 80.This teacher has talked with me about his son, who have to take the graduate program in Switzerland for some reasons I think probably is his GPA and then apply for the PHD in the USA. At that moment, I thought, what a kind teacher. He would be willing to give us an inflated score.

Everytime by the end of term I spent all my energy preparing for the exam, I felt happy as if I get the life of enrichment.The pure preparation of a subject urged us to get an understanding of the subject which our daily study could not provide.However, as for the exam, no matter what did you feel about the exam, easy or hard, the score usually came out as a surprise. Take my minor subject,database and computer network, as an example, I just spent one night before the exam reviewing them, and felt incoherent while taking the exam. However the result were much better than the subject like international finance and corperate finance,the ones I thought I had been quite familiar with and did well in the final exam. Not to mention the international investment, though I didn’t think this subject is necessary to open while we are majoring in the financial engineering.

In private, we student complained and scolded the teachers who are not popular and welcomed.Moreover,the unfair score which someone pointed out may lead to the harmness of the relationship.

That really didn’t make sense I think.The existence of strong opposing views were natural.That doesn’t mean the teachers were ‘sick’ or some students were just relying on tricks.In college, professors have the authority to give student remarks and scores. It is important to let them know you are excellent if you are not only want to learn the subject well but also want to get high scores. This controversial topic always lead to the disatisfacion of Chinese atmosphere.Nevertheless,we should know, that something are not only Chinese characteristics but also worldwide. Anyone who override his superior’s orders will be demoted or fired in a foreign company.Any professor who don’t know the student and only get a paper which are not that as what the teacher expected won’t give a high score.

We have to admit,getting a high score really proves the ability of one student.,about the subject or about other things.We also have to recognize that the score is not everything. The teacher knows that, the employer knows that, Everyone knows that. Take more time on study,take less time on some meaningless entertainment, we will grow up!

Obama,the 44th president of America,44,is going to spend the next four years in the White House.

Although Obama is the Democratic Party candidate, and has spoken of protectionism against China under the pressure of trade unions, we still believe he has faith in free trade, and as President will work to further open US markets, just as President Clinton did in the 1990s.

I believes America needs change, and Obama will be its best choice.

Soooooooooooooo~~~excittttttttttted~~~~

The Chinese central bank, claimed that in order to maintain the good momentum of economic growth, is deregulating the credit scale.It is doubtful whether it's a way to stimulate the economy or to relieve the inner political stress. 

The Chinese government, which is returning to attempts of stimulating economic growth through infrastructure investment and hosing market reform, now faces an unlooked for drop in tax revenue. This may restrict investment by government, while its measures in the housing market are not being greeted with much enthusiasm.

According to State Administration of Taxation (SAT) statistics, during the first three quarters of this year China's tax revenues increased by 24% over the same period of last year, but revenue growth began to decline in the second half of this year. According to a SAT official in China Taxation News, China's tax revenue growth will show a substantial decline in the fourth quarter.

The official said that tax revenues rose 33.8%, 27.7% and 10.6%, respectively, in the first, second and third quarter this year, 5.6% and 2.5% in August and September, and that the growth in September was the lowest monthly rise since 2003. Tax revenue growth in many key areas, industries and enterprises has actually declined, particularly in eastern areas, though gradually spreading to central and western regions.

Entering the fourth quarter, the seriousness of the situation is deepening because of continued slowing of the national economy. Lower external demand, industrial overcapacity, RMB appreciation, rising raw material and labor costs, and financing difficulties are plaguing processing enterprises, especially in exports, and the reduced value added and profits are having a direct impact on revenues.

With year on year economic growth falling below 10% for the first time in five years, the government has issued a series of infrastructure investment plans, and put off an earlier strategy of stimulating domestic demand to promote economic development.

After the 1997 Asian financial crisis, the government turned to large-scale government investment in highway and infrastructure construction to ensure economic growth. Since then, active fiscal policy has been the word for the last 10 years. In 1998 the government initiated reforms in the commercial real estate market, contributing to greater economic growth through the home-buying demand of urban residents.

Now, similar needs are occurring. Along with speeding the authorization of the high-speed railway project, the government is trying to stimulate home purchasing demand. But situations change after 10 years. The high prices in this year’s real estate market will make this a road to nowhere.

China's financial sector has been brewing up a tax reduction reform plan of nearly 200 billion yuan, but it has not been launched officially. SAT has issued an urgent circular calling for tax authorities around the country to strengthen tax collection and management in the fourth quarter to ensure full and timely tax remittal.

For the commercial banks,they are worried that the easing of lending standards will result in bad debt, so they are walking very carefully around central government policies. However,so far, policies released and relaxation of mortgage lending become a necessary measure to survive in such a "Survival of the Fittest" situation.

In my opinion, this policy is just the compromises both within the sector and between financial and other interest groups, and it will be an another snake in the grass for the future China.

Sept. 21 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley will become banks regulated by the Federal Reserve, after tight credit markets forced Wall Street's two remaining independent investment banks to widen their sources of funding.

"The decision marks the end of Wall Street as we have known it,'' said William Isaac, a former chairman of the Federal Deposit Insurance Corp. ``It's really too bad, as our country has benefited greatly from the entrepreneurial risk takers on Wall Street.'