Me Ol' China, Week 28

Last week... except for the weather and my stress hitting record highs I guess not much has happened around me during the week gone.

Last weekend by the sea was really great. We had great time with newly acquired friends but I exceeded a bit in drinking. A/C and sunbathing so I ended up with a mixture of cough, temperature in the low forties, hangover and spoiling 60% of my weekend... But the place was nice, food not great, and the experience, very positive. I was the main attraction and not because I am smart or nice or funny or stupid. I was the main attraction because of my hairy body. Both people part of my group and others on the beach were so curious about me and while some were looking at me with the tail of the eye and taking pictures with their mobile, many didn't have this kind of attention and just were coming close and even asking me to touch my body hairs... Oh well... I understand, in a way or the other, nobody can resist me! ahahah

Guys, no more smelly Tofu around... I am sure that in addition to the tougher laws in place and the high security checking a bit all over, even Tofu is no longer cooked in the streets. Places like Wang Fu Xing night market without smelly Tofu is not the same. Same for Hou Hai, no more Tofu stinking up the square mile radius...

From today 50% of the traffic will be blocked thanks to the introduction of the even and odd car registration numbers. Put on top that thousands of factories will be closed and that 3 new underground lines open today and 10 of the 34 new Olympic bus lines open, we should have perfect air quality! The airspace over the Chinese capital will be closed for five hours during the Olympics opening ceremony August 8 as part of security measures for the Games, Chinese media reported Thursday. Wow! Beijing will hit the news for something positive! I cannot believe it... However I am more than sure that someone will criticise the way this has been achieved.

My Chinese friends last week were asking me about Napolisi, Neaples, and the rubbish. I told them that a bit like China, Naples is always picked for its negative things rather that for the good things. However, let me keep you posted about our brilliant prime minister that in 58 days managed to clean Naples just using his mediation abilities. First of all, all the rubbish was sent to Brescia, a northern city, thanks to the approval of the President of the Region of Lombardy, a region controlled by Berlusconi party and allies and the existing rubbish storage places were open, regardless of the protests of people after the army was sent to protect the sites. Perfect! I just wonder why Lombardy refused the same favour when Prodi was asking for it... Not to mention that the then opposition parties were against the reopening of some sites that were health hazardous.

However, the problem has been sold. Once again our Prime Minister rules. Thank God he is not coming to Beijing for the opening of the Olympics. We are in pure Olympic fever and locals are getting more an more impatient and excited about the event and the country is filling up with little flags, sign of the Chinese pride. That pride I have been mentioning more times, that comes out when someone criticises your country for just everything you do. I do not have a little Chinese flag to go around with but I consider this blog as a flag to wave.

A friend from Italy wrote asking if it is true that the Chinese government subsidises the petrol. Of course this is true, but not as much as one might think. What's the price of the petrol if we take off the tax our governments add for all sort of reasons. I save you what kind of tax we have in Italy but there are things that are some special tax added more than a century ago for a flooding or some earthquakes or a collapsing dam... Take a look at this graph from the Opec Organisation and take as an example, Italy. . Assuming that 52% of 1.5 Euro leaves a bit more than 70 cents per liter of effective cost of petrol before the State makes a good profit on it.

Now, assuming that China pays around 40 42 cents of a dollar per liter, and that the Oil companies in this country are practically state owned, I think that a price of 52-55 euro cent per liter it is not a scandal. Even if this is subsidised, it is not as someone might think, a third of the effective price! I reckon that if the State knows that for 10 cents subsidy there is a return of 3 or even 10 times that much on the final product, where I will make a good return, why should I bother charging this production good?

There has been a list of Economic Indicators published this week: GDP has slowed to 10.4%, Inflation is above 7% but eased to 7.9%... It makes me laugh thinking that 10% is a slow growth... Anyway if you want to look at some indicators, go here.

The official sad news I was waiting for has arrived: Zhang Ziyi got engaged... One of the most hated Chinese actress and one of my favourite with the Welsh Catherine Zeta Jones and the Australian Nicole Kidman, is getting married to billionaire Vivi Nevo. No more hopes for me to become her husband, perhaps some hopes to become her lover...

This week the Central Bank of China has issued a 10 RMB note without the big face of Chairman Mao on it but with the Birds Nest on it. The note has been issued in a 3 million pieces and many Chinese have been queueing to get them at the ATM. Same for the 20 HKD issued by Bank of China in the SAR, they will remain mostly in the hands of collectors.

Anyway folks, this week I announced my resignations to my employer but only on Tuesday I should make it official. However, I have decided to wait a bit longer after pressure from my daughter and my colleagues to stay. Let's try and see...

Catch you next week, another week of stress and with the Beijing Railway station closed ;)