Back from Shanghai

The group arrived back from Shanghai late last night after an enjoyable final day.  Students visited a local community center where, among other activities, there was a 10:30am dance party!  The students got their groove on well before lunch at the Zhujiajiao Water Town.  Lunch at a local restaurant consisted of perhaps the most cultural cuisine yet—local foods prepared in a very traditional manner.  After lunch, the students took a canal ride through the water town and explored the local shops for souvenirs.  One final bus ride to the airport concluded our time in Shanghai.


After a quick night’s sleep, the group reconvened this morning for the final Global Economics lecture.  The group considered the possibility of Fair Trade as a viable development strategy, and then explored the emerging importance of randomized control trials in developing localized development policies.  Once concluding the coursework, the students took part in the Ten Yuan Challenge.  Any student willing to enter the contest found the best good possible for ten yuan or less, and conjured a story as to why his or her good was the best good of the group.  After two rounds of voting by the class, Andrew Scogna emerged victorious and claimed all fifteen entries for his own.  At least one member of the class doesn’t need to go gift shopping any longer!

As today was my final day in front of the class, this blog post will conclude my contributions.  Look for updates to follow from the other loyal professor in the program, Dr. Matt Drake!


Best,
Professor Ryan

Shanghai Noon

The group’s time in Shanghai has been very enjoyable thus far.  Starting with a delightfully uneventful trip through the Beijing airport’s security, the students boarded the ninety-minute flight to Shanghai and got on the bus after the flight at approximately 11:00am.  After a quick bus tour of the city, we sat down for a tasty lunch at a small restaurant near the Huangpu River.  Once lunch was completed, we received a brief tour of the waterfront area of Shanghai, then entered the Oriental Pearl tower, the third-largest TV tower in the world.  The group took the elevator ride up to the “second sphere,” an observation deck 263 meters above the city.  The views were amazing, and no better view exists of the city that boasts over 6,000 buildings of 18 stories or more in height.  A clear-floored observation deck a couple of meters below allowed those in the group with a steady stomach to look directly below their feet to the ground far, far below.

Upon descending from the heights of the Pearl tower, the group took a brief jaunt through the Shanghai history museum before re-boarding the bust and heading to the hotel to check in.  After about an hour to refresh, the students reassembled for a quick dinner, and finished the night with a performance by a world-renowned Chinese acrobat group.  Think Cirque du Soleil with even more emphasis on the acrobatics! The 100-minute show left the students (and your humble professor) with their jaws agape.

After the students enjoyed a restful evening, Saturday morning began with a trip to the Jade Buddha temple.  Though not designed for the volume of visitors this well-known site receives, students nonetheless experienced the wonder of a traditional Buddhist temple.  From there, the group headed to the Silk Factory, where every step of the silk-making process was highlighted—silkworms included!  Purchases of ties, scarves, robes and pillows concluded the visit.

A quick lunch was next on the agenda, followed by a trip to the Yuyuan Gardens.  These well-known gardens are a Shanghai highlight, and their serene settings offered a unique perspective on Chinese culture.  Far from serene was the adjacent market, where the group honed their bargaining skills even further after the exploration of the gardens.  Gifts and souvenirs in hand, the group returned to the hotel for a bit of downtime prior to dinner.  Duquesne alumni and Shanghai resident Kristin Graham joined the group for an informal dinner, and offered insight into the world of finance and finding a job halfway around the globe.

Tomorrow, the group continues their tour of Shanghai by visiting the Zhujiajiao water town—an experience that should give the students some insight into the everyday life of the Chinese citizens in Shanghai.  We return to Beijing by plane tomorrow evening.

Best,

Professor Ryan

Lectures, Ikea, and Alcoa, Oh My!

Today, students debated the merits of development community-led institutional intervention into developing countries, a la the Washington Consensus.  After viewing take a big picture view of the success stories of economic development, students then focused on the particular experiences of Eastern Asian nations, and some of the paradoxes that seemed to have emerged.  The class produced a lively discussion on an issue worthy of weeks of analysis rather than one morning session.

After a quick lunch, the students boarded the bus for two company visits.  First on the agenda was Ikea, where students received a brief presentation and video concerning the history and operations of the Ikea corporation.  Once concluded, the students got back on the bus and visited the Chinese headquarters of Alcoa.  Much to our enjoyment, Alcoa’s Vice President and Treasurer Peter Hong was in Beijing for business and readily accepted an invitation to interact with our students—and that he did, generously giving over an hour of his time to answering questions, providing information and talking with our students one-on-one.  The students were in great spirits at the end of the session having received such a wonderful opportunity from the generous folks at Alcoa.

The students are laying low tonight in anticipation of tomorrow morning’s early flight to Shanghai.  On the docket for tomorrow is the Bund and Yuyuan Garden followed by an evening acrobat show!

Best,

Professor Ryan

Between a Hard Rock and a Hard Place

The students are now well into the second week of “Doing Business in China,” and the experience—academically and personally—continues to be one the students will remember for the rest of their lives.

The lectures this week have transitioned to focus on issues concerning economic development, including discussions on the proper role of government in the economy (and society at large) as well as the (in)ability of foreign aid to have positive economic or social outcomes.  The students were also treated to a number of very lively lectures by BJTU’s faculty—one of which examined domestic investment policies concerning foreign businesses investment, another examining the nature of economic reform in China over the second half of the twentieth century, and yet another concerning office politics!  Despite the (albeit minor) language barrier, the students have been extremely receptive to the lectures generously provided by the BJTU faculty, and consequently have gained a view of China’s economy, business environment and society that simply wouldn’t be available back home in Pittsburgh.

The group also decided that a little home cooking was in order after a week and a half of sampling Beijing’s culinary curiosities—so off we went as a group the Hard Rock Café!  Hamburgers, French fries and cold beer were never such a welcome sight.

Tomorrow we continue our exploration into economic development and the role that institutions and economic freedom have played both around the world and within China.  After a quick break for lunch, we will visit two factories here in Beijing—the first being IKEA’s Beijing operation, followed by Alcoa’s.  We will return to the hotel around dinner time then anticipate an early evening to catch our morning flight to Shanghai on Friday.

Best,

Professor Ryan

Back in Beijing

This morning, the group arrived back in Beijing after an overnight train ride from Xi’an.  After breakfast in the hotel, we boarded the bus and went to the city wall.  Xi’an is surrounded by a large (approx. 50 feet) wall totaling 13 kilometers in length.  We rented bikes and rode on the top of the wall for its entirety, stopping for drinks, shopping and photos along the way.  A quick lunch buffet followed our bike experience, and then we visited the provincial museum of Xi’an, home to a wide range of artifacts from China’s past.  After the museum, we visited the Big Wild Goose Pagoda.  A good number of students made the 284 step trek to the top for a fantastic bird’s-eye view of the city.  A traditional hot pot dinner rounded out our stay in Xi’an, and we were on the train in the early evening and back to Beijing.

The students will hear a lecture this afternoon from Professor Ding Huiping titled “Investment Policy for Foreign Investment Business in China.”  After the lecture, students are free for the afternoon and evening and will reconvene tomorrow morning for the next Global Economics lecture.

I Am The Warrior

Today the group arrived in Xi’an after an overnight train ride from Beijing. We immediately went to our hotel, the Bell Tower Hotel, located right in the middle of town and directly overlooking the famous Xi’an Bell Tower, the largest such structure in China.  After a quick breakfast, the group headed off to experience the terra cotta warriors.

The first stop was at the provincial pottery factory.  The group got a first-hand look at exactly how the terra cotta soldiers were produced.  Once the brief tour concluded, the students flexed their bargaining muscles and acquired a wide range of items for their loved ones back homes—terra cotta remakes of all shapes and sizes.  Given the contented smiles, I’m afraid that any sword or tapestry purchases are not likely to leave the students' hands as gifts!


After the morning shop-a-thon, we re-boarded the bus and went to witness the terra cotta soldiers first hand.  The soldiers are spread over three enclosed “pits,” and while over 8,000 soldiers are known to have been placed there, about 1,600—and counting—have actually been rebuilt from fragments.  We first viewed the largest pit, broke for a late lunch, then returned to the two smaller pits.

Upon returning to the hotel, students quickly freshened up and walked under the bell tower and across the street for an unexpectedly lively dinner featuring 18 successive rounds of increasingly creative dumplings, including shrimp, duck, pork, and…camel!  The restaurant seemed to be a local hot spot for groups of eight or ten patrons to, um, partake vigorously in the local libations.  Cheers were in order all throughout the restaurant, and I’m happy to report that the Duquesne contingent held their own!


Tomorrow the group will receive a tour of the town and the Big Wild Goose pagoda, then embark on a bike ride atop the Xi’an city wall.  We will be treated to an early hot pot dinner so as to make our overnight train back to Beijing.


Best,
Professor Ryan

Westward to Xi'an

Sorry about the delay in posting, but the Blogger website was down all day yesterday.

After a brief introduction to the world of international finance, the group was surprised during the morning session by Chinese professor Ma Zhong, who was originally planned to give his talk in the afternoon.  Due to an abrupt scheduling conflict he would be unable to make the afternoon session, but still desired to interact with the students—so he proceeded to present to the group for nearly two hours on the Chinese banking system and China’s exchange rate policy.  After the intensive session, students wrote their third journal entry since they began their stay here in Beijing, and class was adjourned for the day right before lunch.


Students then spent the afternoon exploring Beijing, and then reconvened for dinner at the famous Quan Ju De restaurant.  Experiencing the succulent roast duck was the plan going in, and the plan was executed to perfection.  It was not hard to understand how the restaurant serves over 5 million customers annually.

Tomorrow’s lecture will pick up where today’s international finance lecture left off, and then will transition into a discussion of the theoretical merits of socialism and capitalism—always a student favorite, this topic should stoke the intellectual fire even more so due to our location in Beijing and the current state of the world’s economy.  After breaking for lunch tomorrow, the students will have the afternoon to prepare for our overnight train ride to the provincial city of Xi’an.  On the itinerary for the weekend are the famous terra cotta warriors, the provincial pottery factory, Big Wild Goose pagoda, the Ancient City Wall, and the provincial history museum.  I hope to send an update from Xi’an should internet be available!


Best,
Professor Ryan