Detailed description: Professor Lang of Pennsylvania in 1986 (University of Pennsylvania) Wharton School, University (Wharton School) Finance Ph.D., has taught at several well-known business schools, including Wharton, Michigan State University, Ohio State University, New York University, the University of Chicago. Dr. Lang is the Chinese University of Hong Kong Chair Professor of Finance. Dr. Lang focuses on corporate governance, project financing, direct investment, corporate restructuring, mergers and acquisitions, bankruptcy, research, finance paper in 1990, ranking first in the world reference rate, best-selling book, "Corporate Governance" of the author. In the public mind, Lang was a distinct point of view but also has world-class academic achievement, won a high reputation in the Chinese academic masters. He University of Pennsylvania Wharton School in 1986 to two and a half a world record time of Glenealy MS and Ph.D. in finance. His academic achievements and financial management not only by the academic textbook widely used, but also for the many well-known media reported. The most famous paper in the United States, "Journal of Financial Economics 2000", "2002 Journal of the American Finance Association," published by professional scholars, researchers, and "economists", "The Wall Street Journal" and other well-known media widely quoted, and was there received the Library of Congress. Professor Lang was 1998-2001, the World Bank as a corporate governance consultant, working on corporate governance and protect minority shareholders rights issue. Professor Lang in late 2001 in the domestic stock market so hard to promote "the defense burden of proof" and "collective action" measures to protect the legitimate rights and interests of small shareholders. Professor Lang in the second half of 2001, in the domestic stock market so hard to promote "the defense burden of proof" and "collective action" measures to protect the legitimate rights and interests of small shareholders. His views by the media, academia and government attach great importance, so the media is known as the "Lang supervision." Many well-known media reported Lang on various legal, political and economic point of view. Under the "Shenzhen Special Zone Daily," the statistics of Lang's point of view out to the country in terms of number of pages before the financial figures spear. Since 2003, he was the main energy shift of corporate strategy, for business executives who carry out "corporate governance and corporate strategy" analysis, known as the "godfather of Chinese private enterprises." Lang Portfolio "Corporate Governance" is this as a starting point, using the methods of modern finance and paradigm, the empirical data analysis of specific cases, exposing the essence of the problem. The book's publication on Chinese companies to establish and improve the governance system is significant. "Integration: the Chinese enterprises in diversified and professional integration of strategic case" In the "integrated", a book, the authors pointed out that China's planned economy over the past inefficient enterprises, but the economy is to compete but are too biased in favor of disorder, but the development of enterprises is planned to reduce disorderly competition in the free competition system , the authors believe that industry consolidation will be the future direction of enterprise development in China. For the concept of industry consolidation, the author of this book is divided into four main themes in-depth case analysis. The first one is the "business should not be bigger and stronger", the author of the Tsingtao Brewery, China Resources Holdings and Beijing to explain in depth case analysis for large enterprises will inevitably lead to strong cost control. The second theme of "corporate diversification strategy", the author describes CITIC Pacific, the real Holdings and Hutchison Whampoa's case to explain the world wave of anti-diversified, well-designed for diversified shareholders can still wealth creation. The third theme is "diversity turned into professional business strategy", the author, through COSCO Pacific, China Merchants International Travel International Investment Hong Kong and the Deep Cases analysis and interpretation of the inefficiency of diversification and professional management can turn improve operational efficiency. The fourth theme is "other forms of integrated strategy", the authors selected three different patterns of integration strategies, including China Everbright Holdings, Yue Xiu Enterprises and the integration of the three major oil company illustrates the integration of the advantages and disadvantages of other forms. "Manipulate" a book not to expose the shady fund scandal like, but its focus is chosen by a representative of the case, from different angles using large amounts of data, describe how to manipulate the stock price of institutional investors, major shareholders to profit from their own detailed implementation methods. This book consists of the following components: institutional investors who profit from manipulating stock prices Cheats (case, including China Mobile / Unicom / telecom / H shares), price manipulation by domestic makers Branch Cheats (case, including Deron Department of Peking University and Tsinghua University Department of ), pyramid-style stock exchange assets of shareholder profit (including the Hyundai case, Dickson, New World Development, Emperor International, Asia, paper pulp), other forms of equity asset replacement shareholder profit (including East Ning Case , Next Media, CITIC Ka Wah, Samsung, China Resources restructuring, privatization Wheelock). This book aims to use actual cases to the readers the rich wealth how to tilt; from small Fangmian, this book listed in the approach can Zuowei money-making tool, but also to avoid being exploited as a tool, but also Cheng Wei valuable tool for vertical and horizontal markets. "Thinking: The world-class enterprises and entrepreneurs strategic thinking" The world's most famous Chinese economist, Larry Lang, Professor of Chinese civilization and feel the pulse of high-tech, high-tech enterprise in China to implement strategies to help break through! . Do not support high-tech civilization, the concept of the seven traditional culture: "Failure is the mother of success"; "Chickens do not chopper"; "skillfully deflected the question"; "not meritorious, but seek only"; "experts leading experts"; "rather be beheaded, improper gloriosa ";" craze, amazed. " ■ Lang Quotations Favorite subject in Guangdong, because of too many problems. People only care about how much stocks, real estate, when up, where you talk about the concept of depth, they do not want to hear. So like "fought" the mainland. Faculty And Staff Position: Professor of Finance Telephone: (852) 2609-7761 The first phase of the story behind the brand CPI, the deposit reserve ratio, interest rates, appreciation of Renminbi, the currency policy ... ... the 07 used in high frequency financial hot words what does that mean? People and businesses in the end they are what intricate relationship? In this program, Professor Zhong Lang Xianping economists with a unique perspective on the financial hot spots by 2007, "hot words" way to do a summary and comb. Fourth inventory of 2007 - Digital Stock Seventh to Hong Kong to study, do you know about? When our life, video ads everywhere, these advertisers will be widely welcomed it? In the elevator, you will choose to do boring, boring, or choose to see ads? Focus Media has been a smash hit How to seize the gray elevator advertising opportunities? Professor Lang from the current unique perspective, interpretation elevator video ads are vital to the success of the two. Tenth phone, touch you with emotional For now this all about time shares, how many people know what is stock? How many people know the stock's history? Stock and the Western church have relations? These questions all contain a lot of interesting stories, this program easily accessible with Professor Zhong Lang Xianping, humorous language to explain to viewers the source of stock. 14th from the Conflict between Obama and Hillary Clinton United States (under) From the second half of 2007, "turning point" has become talkative street term, in particular, the turning point of the real estate issues have become major media attention object. But for China's economic situation, the real estate "inflection point" really exist? This program, Professor Lang inventive, from the analysis of economic phenomena in China start to interpret the real estate of the "turning point" problem. 17th of the most "bull" behind retail "Subordinated Debt" - a people both familiar and unfamiliar terms, since last year been mentioned by people as an international financial market on the hot topic. After the crisis, the United States and major European stock markets generally fall, Citigroup analysts believe the crisis in the United States about a loss of almost 100 billion U.S. dollars. So what is subordinated debt? How the crisis is caused by? It going? What impact on China? How should we respond? What really stimulated the subprime crisis? Professor Lang of the U.S. subprime crisis, your past lives. Article on "appreciation of the RMB makes you more prosperity?" 1, inventory financial hot words 4, RMB appreciation makes you more prosperity? 7, through the stock market figures 10, Joking stock (below) 13, when the ads into the elevator 16, do not fly and see in Hong Kong Lang is an internationally renowned experts in corporate governance and corporate strategy, called fiduciary responsibility to protect small shareholders, critical MBO type of "nanny theory", denounced the state-owned assets "Popsicle Theory", known as the Chinese economy Lang The "iron hammer" by the media is known as the "Lang supervision." Since 2003, he turned to the executives to "corporate governance and corporate strategy" analysis of the training, known as the "godfather of Chinese private enterprises." Why macro-control will fail, Why overheat overheated sectors, the reason he is not economic, but political reasons, it is to promote the mentality of P as the key link leading to overheating sectors overheating. So what is the purpose of macro regulation and control? Is to use economic means to control the overheating, but overheating is a political reason, you have to use economic means to control the problem. Problem? For example, when a bank to raise interest rates to 0.25% points, where because of higher interest rates and not to pursue the building of it? According to engage in that will not stop, and still cut open and damaged bridges and roads will not stop, why? In order to improve the P! Higher interest rates result is that he still does not stop borrowing money from banks, then the department will suffer a cold, cold is basically a private enterprise sector, and most of the funding of private enterprises is the underground financial, commonly known as the black market, black market finance rates are very efficient, very sensitive, according to my research, the results show that AM is the party of his interest rate 4 times, that is, the central bank increased 0.25%, the black-market interest rates four times, increased by 4 times the result is a further blow to the private enterprise sector has been depressed. According to my theory of the previous run, you hit their investment interest, they do? In this deteriorating business environment under the investment he did not want to invest, but will squeeze more money into the overheated sectors of virtual stock speculation. Cold sector due to capital outflows, the results colder, overheated sectors to accept his money because more heat. So the more macro-control of China's dual economic phenomenon more prominent, and this is why we are the more macro-control of our economic data shows that the Chinese economy more heat, this is the reason for overheating. Is part of the sector rather than the whole overheated overheating, you continue to carry out macroeconomic regulation in accordance with this objective, then the dual economy would be more serious. Second, will generate inflation. So the end of 2006 agricultural harvest, according to economic theory, of course, these theories can not be used in China, are the opposite! Grain harvest of agricultural products in accordance with economic theory, prices should fall on the right, but come January, grain and oil prices rising, that is caused by the dual economy. How create it? You then remember what I just said from the cold sector of large capital to overheated sectors, all over the cold sector lack of funds and how funds do? Printing money, printing of bank notes resulting in overall inflation. So the problem of excess liquidity at this time came out, so January's grain and oil prices rising by as much as 20%, to pork prices in May rose 26%, eggs up 37%, up to today's in November, The 20% increase from our risen 60%, then the recent increase is still high. In other words, when you eat it, a bite of meat Chiyikoufan to pay 50% of the money, he was not washing machines, TV sets, as to see the old on it. Eat 3 meals a day, this is an incredible increase. According to the current statistics, you have the money to buy food, now it should be up 50% of the bar. Then so is the livelihood of serious inflation and how the goods came to be, basically I'm talking about the dual economy and the virtual capital of the reasons. Pork, for example, we talk about why the price of pork rose? There are two reasons, first is the classical swine fever, even today in 2007 will have the phenomenon of classical swine fever, showing how the local is dereliction of duty, the control of classical swine fever can not rely on the farmers. This must act now, this place is in the grasp construction, control of the disease do not care that he has had, and this is why in 2007 the reason will have fever. The second is pig feed prices. Classical swine fever and swine pig feed prices make investments in private entrepreneurial business environment is deteriorating rapidly. According to my theory, the rapid deterioration of business environment and investment under the pig's private entrepreneurs would do, he took the money should be invested not squeezed out of the formation of investment funds into the stock and property markets virtual, so we carefully pork this increase is to kill a large pig after the "no follow-up pig", and we do not raise a pig. So do not raise pigs, just like you, like stock speculation Qula. This is what we just talked about the dual economic and virtual money to fully explain the causes of recent inflation, the dual economy is the nature of P as the key link from the local to the adverse impact of the idea. This is my third so-called economic crisis. We think about where we build high-speed road at all levels, elevated, rail is more than fixed investment. He fixed investment cost is how much I want to take our country and Japan, before the economic collapse to be a comparison, we fixed the proportion of investment accounted for 45%, while Japan was 30%, consumption accounted for 35% of us are, while Japan accounted for 58%. Such a large amount of investment, domestic consumption is inadequate. So domestic consumption can not, our annual economic growth of 10%, 造出 so much economic, goods sold? Sold to foreigners it! This caused a lot of trade surplus. So was the share of Japan's trade surplus accounted for 4.5% P, and China 9%, and for export around their thinking is wrong, call exported. Export seems to me is synonymous with evil, export is to take our limited resources for profit foreigners. For example, if a lack of resources of Chinese national dare to sell the Japanese coal, the reclamation of the Japanese Na Qu. Even our trees cut down and made without any added value of chopsticks sold to Japan, Japan Why not cut your own trees? He will not do that stupid, he will not destroy the resources of dry matter to who did it? To the Chinese people do that! You use coal, chopsticks and other things there is no added value will depreciate in the foreign exchange earned by blood, under the pretext that export, in fact synonymous with evil. Local to P as the key link in the concept of export based on the idea of making a serious imbalance in our economy, resulting in a substantial trade surplus. We have up to 1.4 trillion trade surplus to 1.4 trillion if you are proud of that 1.4 trillion is the inevitable result of a wrong policy. What was the result? To the Europe and the United States an excellent opportunity to pressure the yuan appreciation. Today, I can not think of any reason why our country continue to appreciate the yuan. RMB appreciation is what I mean certainly the fourth economic crisis. I put in front of the fifth-largest crisis to be a consolidation of four of the crisis, a rise in interest rates, a macro is wrong cause interest rates rise, the local error of P as the key link in the policy and export policy has led to the rise in the exchange rate. Increase the financial parameters of the two companies have made it difficult to maintain the livelihood of our investment in the business environment continues to deteriorate gradually bleeding to death. You see what my life is better than the export-oriented manufacturing industry, and he is sad every day. So he will not invest, so he must be as I said earlier, as the investment should not invest money squeezed out of virtual money into the property market, then you may ask me, in the end the number of virtual money ? Tell you a number, that we entrepreneurs should not invest money and invest in Europe and the United States compared to 80% of the input stock and property markets, resulting in a bubble. A rise in the exchange rate bubble more serious, but the surface looks and Japan, as then, where to know why it is very complicated. China entrepreneurs will not invest to stock speculation was. I would like to invite you to think a problem, you should not invest in investment, the investment in space is given to who out? The empty space down foreign-funded enterprises must be used for. Interest rate rise in the business environment caused by the difficulties, the inevitable result of foreign capital into China to provide an excellent opportunity, gentlemen, look at our private entrepreneurs, which sell the company, sold the factory signs are everywhere, is due to difficult business environment and investment. This is what I call the fifth crisis. Sixth month crisis I would like to invite you to look up the sky, you find that in 2007 the Chinese sky flying with two vulture, bald eagle is for? Vultures eat dead bodies. I said earlier on, and China's manufacturing industry, because all the theories mentioned earlier gradually bleeding to death, the head of the bald eagle flew down to feed our bodies. Two bald eagle's head is it? One is the industrial capital, the second is the financial capital. You know Tsingtao Brewery is China's famous brand, you also believe that Tsingtao is China's enterprises? Tell you a number, Qingdao Guo Ziju holding 30%, but you know who the second-largest shareholder? Anheuser-Busch from the United States - George W. Bush holding 27% of the company, as long as he bought 4% more H shares, China's Tsingtao beer we will overnight become a foreign-funded enterprises. Xugong you remember the story? Kelly Fund, the United States to Xugong, including me, were a lot of scholars and experts in the media on this matter, we, all due to the efforts of deterring assets phenomenon. What reason was the place to sell to foreigners? Is a negative net assets sold to foreigners. Negative net worth and sell it? Do you have a little bit of economic common sense ah. Does not depend on the value of a company's net assets, but on the ability to operate have continued. Xu workers for sustained earnings in the future value depends on the capacity, better not sell, if sold at 100 yuan, according to Kelly, I understand the Fund or similar fund, some will work separately listed or sold Xu, earn 10,000 yuan. So the price from 100 to 10 000 more than he can earn 100 times. Members of the ignorance as to acquire Anheuser-Busch beer of Qingdao - Bush is the industrial capital of the company, Xugong is the financial capital, the dangers of the two capital we have not seen, is also optimistic about the investment, you know do not know two vulture investment made to hit China this dying industry. So you may ask me, Professor Lang This is not too pessimistic, the Chinese are manufacturing our own can not go on, and to foreigners to make money? If you have a similar idea is, you will not understand a capitalist country! Why do I say it like a Marxist economist and Marxist economists, we would like capitalist economists say. In fact wrong, I really grew up eating milk of capitalism capitalist economist, so I understand him very thorough, so I speak so because I understand the doctrine. You think about our business in China could not continue, the negative profit, you think that foreigners no longer operating it? Look down on others. When he was through the acquisition of industrial capital and financial capital, we do not make money these so-called manufacturing, he will get you into the international division of labor inside the industry chain to. This is what I recently did a series of studies, what is the international industrial chain division of labor, that is true in the international industrial chain manufacturing is a dollar to do, but do such procurement, warehousing, order processing, wholesale, retail and the whole the food chain is called soft triple. International industrial chain division of how the matter? It was by nature soft triple profits, and then loss of a great hard-dollar loss a dollar, nor a dollar loss, how much can come back soft triple ah! The toy industry, for example, our ex-factory price of a Barbie doll a dollar, Wal-Mart in the U.S. retail price of 9.99 yuan U.S. dollars, that a dollar, raw materials accounted for 0.65%, 0.35% of production value, you not know that we future earnings, one cent is quite a lot right. We are exploiting our workers to waste our resources. With such a cheap price of a dollar sell to the United States, his last with 9.9 prices to consumers, they swept all the profits. Our Secretary of Commerce for this phenomenon put forward his views, his views on the part of, that is part of our Chinese manufacturing is not profitable, and we, through our sacrifice, Americans Europeans enjoy our products, which is right. But then you think you need to call? Is the United States do not know? You see him silly instead. You all know he does not know? How can that be? Do they not know that they purchase price of a dollar bill? Do not they know that our workers could hardly get any profit it? Does not he know that 9.9 it? Then, why continue to oppress us, to raise interest rates to improve the exchange rate, so that we are not the only penny we earn it. This is what I called the financial war. Its purpose is to let you close down, you close down, we head two vultures low price you buy, which go into the international industrial chain, you lose money does not matter here, the soft triple can get it back. Hard dollar which, according to recent research results, raw material costs, manufacturing costs can save money is 25%. Let us down our wages, lowering the cost price of raw materials only to the whole industry chain of a dollar which 25% of the province of a small amount of it, the real bulk are soft triple them off. Then this pattern is not our country now know. We continue to attract investment, the end result it is to hand over our foreign manufacturing. I invite your attention to me, I say the phenomenon has occurred, do you think we Chinese have the advantage of cheap labor, Well, so that if you're wrong! Advantage of the labor force up to a dollar which makes you hard, save up to 25% of the money, nothing more. But what of the international industrial division of labor, which profit from the soft triple. Therefore, Shanghai has recently come to the two foreign, one is Spanish RA, one is the Swedish company H & M. RA80% of production in Europe, why does not he come to China to produce it? We do not have cheap labor? People to not come. That does not matter! Important international industrial division of labor integration of the most important, 80% of RA in Europe production. His clothes do come out not only fashionable, stylish, trend, texture is good, there is also made in China cheaper than you. H & M cheaper and cheaper than the RA 30% do not speak of his good coat texture, and fashion do not speak up, or international celebrities Madonna were designed. How much is a, you know? 500-800 1. How could you say that we made out! Why do people with such a low price of entry into China? That is the international industrial division of labor, people began to return to the soft triple. He substantial cost savings through soft ternary hard to give up one dollar, so to the highest profits and lowest cost of entry into China. This is a phenomenon that occurred in 2007, we have to closely pay attention to. If we have any illusions on the cheap labor, then you're too pitiful. For example, we have two well-known companies started to fantasy, one that TCL's Li Dongsheng, the second is called BenQ BENQ, the two engage in internationalization. How engaging it? They want to take advantage of cheap labor with the foreign brands and technology, wants to go out, like international. Professor Lang's theory according to you will not succeed. Why? Unless you are into soft triple! You rely on hard-dollar Yen, as cheap labor can save up to 25% of the money. So you know TCL Alcatel and cooperation, and the acquisition of Thomson, BenQ acquired Siemens's mobile business in 2012 with a bang after the complete collapse. Why? You get out of them! Why get out of going? Business strategy because you are wrong, wrong with it, labor costs have not important! Eventually wants to integrate the international industry, to give up one dollar hard to soft triple to profit, which is international. How many companies know about this? We Tiantian Han's international investment and to actually hand over the entire industrial chain foreigners, we actually allow them to looting. Why do I say robbed us? I would like to ask you out of a farmer to make a note. You ask the farmer: How do irrigation? Before irrigation, farmers will tell you, open the gates prior to first dug ditches, the water introduced through the ditch where the need to be called irrigation water. If you do not pull stupid machine asked farmers dig ditches if I forget it? Farmers will definitely call you: You foolish, you do not dig ditches, then you open the sluice, flood overflow does not regard the fertile earth and covered it? Farmers are aware of the things that we a lot of people do not know. Members of the ignorance What is globalization? China is currently implemented by the International is to open the gates prior to forget to dig ditches, China is a not ditch the international. What ditch? Legal rules of the game called canals. So Ladies and gentlemen, we have had before international legal rules of the game it? We are an industry which has such legal rules of the game? We are not a hundred percent of the door which let foreign investors come in! To the end result is to bring the foreign triple advantage of soft, in a no rules of the game the legal system in China, as flood overflow as the fertile land of the Chinese invasion of the United States Dewan Quan, and this is the international results. This phenomenon is very important, according to McKinsey & Company, the United States last year's forecast, after five years, foreign capital will occupy 80% of the retail market in China, ladies and gentlemen, so one is not very happy ah, ah well, Wal-Mart, Carrefour is Ok, then to China, brightly lit and full range of items, good service attitude, low price items, such as Carrefour, from time to time of posting ads: within 5 km radius, if you buy the same goods cheaper, and willing to several times to make up the difference for your loss. Something you do not know you! A good, to foreign yo, he swept China in what is good ah! For them, China is a paradise never legal rules of the game. When they hit 80% soon after the retail market, you do not believe me with the following forecast that foreign investment will jointly monopolize the retail trade is the elevation selling prices to exploit consumers, under pressure purchase price Boxue producers, the intermediate Li Run The rapid expansion of legal export in China, do you believe? This is our future, because our international legal system is not the internationalization of the rules of the game, so must our farmland flooded. And our manufacturing sector is still a hard one dollar to return to the stage, people have begun to give up hard-dollar soft triple to profit, so he was relying on high-profit low-cost advantages of Sharu China, you will no resistance, because Before you forget international dug ditches, no way. . . . . . ! This is the crisis I speak of the sixth. Financial reform, including reform of the exchange rate and banking reforms. Here I would like to talk to you about the banks and the reform, we, like so many banks such as China Construction Bank listed to help you know do not know what they are doing consultancy company? Morgan, Merrill Lynch, Goldman Sachs. These companies are also shareholders of Bank of America, you know? We engage in banking reform even have to ask the shareholders of Bank of America to be our consultant, you say you are or how stupid it going too! He gave you a consultant's aim is help you plan it or plan help the United States banks? I'll give you a data, the World Bank in 2000 out of a research report about the banking reform. You believe it or not engaged in banking reform in China all the relevant personnel had no one read this report, we are all imaginary banking reform, their report is based on figures that the. They collected 250 Duoci past banking crises throughout the world, he would like to know how to go about international banking and the results that was the case: the 250 crisis inside several Yinxing 92 not found, 141 countries including the United States are helpless, strengthen the supervision 3 times, 14 times deregulation. 90% of the cases that do nothing inside the country, so the conclusions of the article is very interesting, it says: knitting groups around the world including the International Monetary Fund, World Bank, and the dean of major banks as well as academia, no one knows how reform of the banking. Since no one knows the whole world how to reform the Bank of China, how dare you change it? And your advisor are the shareholders of Bank of America to help you do adviser, so what is your proposal to restructuring, listing. Restructuring, market is very interesting, you have come from all over the country, from the northeast has been to Zhuhai, you go to any village, then you can see a China Construction Bank, and its wide distribution network is your unimaginable. I am also the bank's customers, although the bank's service is very bad, his attitude was not good, why do I do with CCB? Special branch, and this is his only reason. Even if we completely open banks, so Citibank came in, he was unable to open so many branches, you need to know to open as many branches as the CCB, the number of flats to be rented. How much money do you have to put in hardware and software development, how much money, how much time to do the training, you know do not know under such a trip can not be done without a few trillion dollars. So how do they? So these smart advisers will not do so, he will ask you to China Construction Bank listed China Construction Bank as long as you listed, the U.S. bank to buy 20% of your shares, you earn all the branches he would take 20 %. Meanwhile, banks in China is monopolized monopoly license fee should be, what building do not pay license fees for acts of it? Because he is a state-owned banks do not need to pay license fees. Citigroup to sell your listing, why do not you received license fees? He forgot, he does not know to charge license fees! Therefore, foreign banks, including Bank of America, etc., can be the most expensive price to pay license fees are not in large numbers to buy the bank's stock, you buy 20% of all branches as long as the profits you have sub 20%. Look at recent results. The reason the U.S. subprime losses a lot of money, and their very proud chief executive said this week: we in the subprime losses far less than our investment in CCB. They CCB how much money do? Earned 130 billion! ! Then we level? Lou Jiwei our foreign exchange management in the United States under the administration of investment in Blackstone, suffered a heavy defeat, this is the level! ! Why do people know it, because the financial war has begun. The level of our financial war and 150 years ago, almost the level of the foreign sword. Look at China Construction Bank, Bank of America and the story, and then look at the Exchange Fund and the BlackRock investment story, a comparison that you do become clear. Why the United States to force our banks to be listed, because the U.S. market is the fastest shortcut to acquire banks in China. We actually listen to do so! Also called the reform of exchange rate fluctuations. I have been opposed to this reform, because where? Because China has no talent! ! We may have many aspects of the Chinese people, but in the foreign exchange operations, I can say so myself, we include the Lang Professor of 1.3 billion people do not have a national expert. How do you dare to open without expert float the yuan? Members of the ignorance in 1997, why Soros check Asia? Caused the Asian financial crisis. That is because the Asian asset bubble. In addition there were four little dragons of Asia outside the four tigers, a serious threat for Europe and the United States, so Soros began to check the Thai baht. Because the baht had just changed to a floating exchange rate, check down, the Asian countries, especially the tigers never break chance. They did not let Hong Kong, Hong Kong and also check. Hong Kong is also the assets were overvalued, the stock market very well, 18,000 points, the rapid rise in property prices, appreciation of the assets of HK under check is the best, they also short-selling Hong Kong dollars while Hang Seng stock index futures short, what selling air? The stock market, for example, a securities company to lend today, a hypothetical 50 per share to sell today, tomorrow, 30 per share price fell, I returned to buy back the shares of securities companies, selling space. 50 for sale, buy 30 yuan, 20 yuan would make the difference. Therefore, the purpose of short selling is betting the stock will fall you. Foreign exchange is the same, what selling air? As a financial institution lending Hong Kong dollars to sell, come back tomorrow or the buy back him, meaning is the same. They also are short selling short Hong Kong dollar with the Hang Seng Index futures, when a large number of short Hong Kong dollar, the Hong Kong Monetary Authority sold HK, so the market was the lack of HK. Therefore, a substantial increase in bank lending rates, up to 280% of the lending interest rate. 280% of the lending interest rate we all know what the stock market to combat it? Stock price declines, fell from 18,000 points, 98 years 6660 points, down two-thirds of market value. But a lot of international speculators short selling in advance on the Hang Seng Index futures, so make a two-thirds of the market, at the end of all Hong Kong people pay, because the stock market, real estate also followed fell, after George Soros, who hit a left Hong Kong, it was produced Soros oscillation. In 2006, as long as the Hang Seng index to 18,000 points after that, will be called the Soros volatile oscillations, the Hong Kong people to scared. Why now to 30 000 points out? Because domestic ordinary people did not understand, by many ways from a lot of speculation, Shenzhen, Hong Kong stocks, took up the Hong Kong stock pull. Hong Kong people had suffered, to know! People do not eat domestic losses do not know, to make clear! Hong Kong's fixed exchange rate or the link is, and he was even worse if the floating exchange rate. That you know, why so harsh under the Asian financial crisis, China can survive it? Do you think that we were wise it? No, but then we took two of the most traditional of the oldest system, a fixed exchange rate is another one of the most important foreign exchange control, due to the fixed exchange rate and foreign exchange controls to protect the Chinese, not because we were good, but this two reasons. In accordance with my story up, and if the international speculators to check the bubble in China today and the original Indonesia, Malaysia, Thailand and Hong Kong, full of bubbles, the stock market bubble, property bubble, inflation, to check that the bubble economy, Like Hong Kong, like sweeping to sweep our wealth, and what method is best? That is the same as in Thailand, check floating exchange rate, it is best to check, and even the linked exchange rate of Hong Kong can check, let alone a floating exchange rate. This is also why the United States continued to force causes the float of the RMB exchange rate. As long as with the floating exchange rate, free flow of foreign capital, coupled with the introduction of stock index futures, will the Chinese financial market fully exposed to international speculators under check, and all we basically have met. We have no bubble, there! There is no inflation, there is! Have no stock index futures, fast! Have floating exchange rate, we are working! We and our people through the progressive efforts, I believe that in the near future we will give a very good check of international speculators opportunities in China. We wait and see! This is what I call the seventh economic crisis. Eighth crisis began on Jan. 1, 2008 to conduct RMB business for foreign banks crisis. Our Bank of China, the number of good loan customers which customer? I'll give you a figure, almost 10% of it! Others do not dare say all, many of them are liars, including the local account. How do they cheat? Got the money directly when the profit issue, we have a lot of places do not is so dry! How many depositors good clients? 20% is quite a lot now! 80% What clients? That small people are our customers save today 100, tomorrow, 80 to mention that this client only increase transaction costs, banks can not make any of his money. Bank customers can really make money, 20% of large clients, a good deposit of 20 large customers and 10 less than the good loan customer, you think it possible after January 1 next year, a large number of transfers to foreign banks? I dare say a word, foreign banks have an advantage, that is, macro-control in the country when there is no reason for you not to tighten the money supply, something that he will not do it. All of our domestic banks in the dry! If we all turn passed it? If this is a good deposit and good loan customers to switch later, it is called China's domestic banks to operate? Bank of the phenomenon of blood loss does not occur, the situation will be bad business will not happen? More seriously, what I stated before the series did not understand the international context, is not given further access to foreign banks domestic banks to participate in business opportunities? Therefore, beginning January 1 next year, foreign-funded banks to conduct renminbi business to China's financial system gave the eighth with a destabilizing factor. Of course, we in the criticism when the first foreign banks to review their foreign did not ask us immediately in the open, give us a three-year grace period. We are doing three years, and you guess? We are all under the guidance of such a foreign consultant, went to the restructuring and listing. Do you have the most basic work of the bank do? What do banks and credit well, to improve the quality of banking services, has made the bank a real customer service platform. No! You do not! Engage in what, from top to bottom in full swing all the shareholders in accordance with the requirements of the Bank of America to the restructuring and listing. Three years down the credit to our bank? Service attitude? And compared to foreign banks, contractors pros and cons of legislation! If you are a large account customers, you may go to foreign banks which do not go? Do you know when you go to foreign bank depositors have any benefits? Do you believe that they immediately give you a global common Diamond or Gold? You can keep the yuan to Europe to the United States free to consumers, do you believe? More than okay! They also need to open branch in it? Basically, the city as a large customer, as long as he grasped Guangdong, Shanghai, Beijing, almost to sweep most of our customers the highest quality. He does not need to open branches, and open more branches open to remote areas, small customers more, are mentioned today, tomorrow, keep one hundred eighty, no one makes money. So they just sent to services in large cities do keep, continue encouraging Chinese banks to be listed, then they are the ultimate winners. And we are also working to help them complete their wishes.
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No. 2
Specific description: Lang, an economist, was born in 1956, China Taiwan, his father was a soldier. Professor Lang in 1986 of Pennsylvania (university of pennsylvania) Wharton School, University (wharton school) Finance Ph.D., has taught at several well-known business schools, including Wharton, Michigan State University, Ohio State University, New York University, University of Chicago. Dr. Lang is now the Chinese University of Hong Kong Chair Professor of Finance. Dr. Lang focuses on corporate governance, project financing, direct investment, corporate restructuring, mergers and acquisitions, bankruptcy and other research, finance papers in 1990 ranked the world's first reference rate, best-selling book "Corporate Governance," the author. In the public mind, Lang was a distinct point of view but also has a world-class scholarship, won a high reputation in China, the master and scholars. He University of Pennsylvania Wharton School in 1986 with a world record time of two and a half Glenealy finance master's and doctorate. His academic achievements are not only academic and financial management textbook widely used, but also for many well-known media reported. The most prestigious papers in the United States, "Journal of Financial Economics 2000", "2002 American Finance Association Journal," published by academics, researchers, and "economists", "The Wall Street Journal" and other well-known media widely quoted, And there was the Library of Congress collection. 1998-2001 Professor Lang had served as corporate governance, the World Bank consultant working on corporate governance and protect minority shareholders rights issue. Professor Lang in the second half of 2001, the domestic stock market so hard to promote "the defense burden of proof" and "collective action" measures to protect the legitimate rights and interests of small shareholders. Professor Lang second half of 2001 in the domestic stock market so hard to promote "the defense burden of proof" and "collective action" measures to protect the legitimate rights and interests of small shareholders. His views by the media, academia and government attach great importance, so the media known as "Lang supervision." Many well-known media reported Lang on the legal, political and economic point of view. Under the "Shenzhen Special Zone Daily," the statistics, Lang's point of view in terms of number of pages to figure out before the national financial spear. In June 2003, proposed the institutionalization of private enterprises to solve the problem of original sin, and was far away in the Yang Rong overseas commission, as "an independent third party" for the institutionalization of private enterprise to solve the increasingly prominent contradictions and problems with the authorities to actively explore. In September 2003, when discussions on the RMB exchange rate issue is heating up the stage, a forum in Guangzhou Lang phrase "2% depreciation of the RMB should be to curb hot money into the Chinese market", once again alerted the people of the world. Since 2003, he shifted the main focus of corporate strategy, for business executives who carry out "corporate governance and corporate strategy" analysis, known as the "godfather of Chinese private enterprises." Professor Lang in 2004, "Chinese enterprises, such as bigger and stronger, will only result in tragedy!" Argument, but also _set_ off an uproar in the Chinese business community. 2004 August and September, Professor Lang with the most traditional financial analysis, eloquently state-owned enterprise reform, the shortcomings of state-owned as_set_s, questioned some of the misappropriation of state-owned enterprises, and leading to the present some of the local implementation of "owned "type of SOE reform has entered a misunderstanding. Caused a huge impact, called "Lang whirlwind." Lang is currently teaching at the Chinese University of Hong Kong, is also the first long-term financial channel hosts a file named "Lang busy Financial Review," a special program to illustrate his point of view (now being ordered off the air, the official reason is that Lang The Taiwan version of Mandarin Chinese can not meet national standards).
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Introduction
Lang
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Specific description
Lang, financial experts, June 21, 1956 China Taiwan Taoyuan County, was born, his father was a soldier and his mother was the chemistry teacher. Professor Lang in 1986 of Pennsylvania (University of Pennsylvania) Wharton School, University (Wharton School) Finance PhD, has taught at several well-known business schools, including Wharton, Michigan State University, Ohio State University, New York University, University of Chicago. Dr. Lang is now the Chinese University of Hong Kong Chair Professor of Finance. Dr. Lang focuses on corporate governance, project financing, direct investment, corporate restructuring, mergers and acquisitions, bankruptcy and other research, finance papers in 1990 ranked the world's first reference rate, best-selling book "Corporate Governance," the author. In the public mind, Lang was a distinct point of view but also has a world-class scholarship, won a high reputation in China, the master and scholars. He University of Pennsylvania Wharton School in 1986 with a world record time of two and a half Glenealy finance master's and doctorate. His academic achievements are not only academic and financial management textbook widely used, but also for many well-known media reported. The most prestigious papers in the United States, "Journal of Financial Economics 2000", "2002 American Finance Association Journal," published by academics, researchers, and "economists", "The Wall Street Journal" and other well-known media widely quoted, And there was the Library of Congress collection. 1998-2001 Professor Lang had served as corporate governance, the World Bank consultant working on corporate governance and protect minority shareholders rights issue. Professor Lang in the second half of 2001, the domestic stock market so hard to promote "the defense burden of proof" and "collective action" measures to protect the legitimate rights and interests of small shareholders. Professor Lang second half of 2001 in the domestic stock market so hard to promote "the defense burden of proof" and "collective action" measures to protect the legitimate rights and interests of small shareholders. His views by the media, academia and government attach great importance, so the media known as "Lang supervision." Many well-known media reported Lang on the legal, political and economic point of view. Under the "Shenzhen Special Zone Daily," the statistics, Lang's point of view in terms of number of pages to figure out before the national financial spear. In June 2003, proposed the institutionalization of private enterprises to solve the problem of original sin, and was far away in the Yang Rong overseas commission, as "an independent third party" for the institutionalization of private enterprise to solve the increasingly prominent contradictions and problems with the authorities to actively explore. In September 2003, when discussions on the RMB exchange rate issue is heating up the stage, a forum in Guangzhou Lang phrase "2% depreciation of the RMB should be to curb hot money into the Chinese market", once again alerted the people of the world. Since 2003, he shifted the main focus of corporate strategy, for business executives who carry out "corporate governance and corporate strategy" analysis, known as the "godfather of Chinese private enterprises." Professor Lang in 2004, "Chinese enterprises, such as bigger and stronger, will only result in tragedy!" Argument, but also _set_ off an uproar in the Chinese business community. 2004 August and September, Professor Lang with the most traditional financial analysis, eloquently state-owned enterprise reform, the shortcomings of state-owned as_set_s, questioned some of the misappropriation of state-owned enterprises, and leading to the present some of the local implementation of "owned "type of SOE reform has entered a misunderstanding. Caused a huge impact, called "Lang whirlwind." Lang is currently teaching at the Chinese University of Hong Kong, is also the first long-term financial channel hosts a file named "Lang busy Financial Review," a special program to illustrate his point of view (now being ordered off the air).
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Lang Portfolio
"Corporate Governance" Professor Lang book is the world's top economy in a number of financial journals and academic papers. To empirical research methods of the most important aspects of a listed company issues insightful research, and its content targeted, being perfect in the governance structure of listed companies in China have a very important reference value. Corporate governance has been the modern domestic and foreign enterprises in the most difficult problems. "Corporate governance" is as a starting point, with modern finance methods and paradigms to empirical data analysis of the specific case, exposing the essence of the problem. Publication of the book on Chinese corporate governance system to establish and perfect the great significance. "Operation: competitive, expansion, crisis strategy case" "Integration: China's integration strategy of diversification and specialization case." In the "integration", a book, the authors pointed out that China's planned economy over the low efficiency of enterprises, but the economy is to compete but too biased in favor of the disorder, and business development is planned to reduce the disorderly competition in the system of free competition , the authors believe that industry consolidation will be the future direction of enterprise development in China. For the concept of industry consolidation, author book is divided into four main themes for in-depth case analysis. The first one is "business should not be bigger and stronger," the author by the Tsingtao Brewery, China Resources Holdings and Beijing to explain the depth of case analysis will inevitably lead to larger and stronger company for the cost of out of control. The second theme is the "corporate diversification strategy", author through CITIC Pacific, the actual holding and Hutchison Whampoa's case to explain the world under the wave of anti-diversification, diversification is designed for the shareholders can create wealth. The third theme is "turn into a professional business diversification strategy," the author through COSCO Pacific, China Merchants International Travel International Investment Hong Kong and the depth of case studies to explain the inefficiency of diversification and professional management can be turned improve operational efficiency. The fourth theme is "other forms of integration strategy", the author _select_ed three different forms of integration strategies, including China Everbright Holdings, Yue Xiu Enterprises and the integration of the three major oil company illustrates the advantages and disadvantages of other forms of integration. "Control: institutional investors and large shareholders control strategy Case" "Manipulate" a book not to expose Jijinheimu kind of scandal, and its emphasis on choice by the author representative case, from a different angle, and use large amounts of data depicting institutional investors how to manipulate stock prices, large how shareholders profit Ziji detailed operating practices. This book consists of the following components: institutional investors profit Cheats manipulation of stock prices (the case, including China Mobile / Unicom / telecom / H Shares), making price manipulation by domestic branches Cheats (case including DeLong, Department of Peking University and Tsinghua University ), the equity as_set_ replacement pyramid profit shareholder (including the Hyundai case, Dickson, New World Development, Emperor International, Asia, paper pulp), other forms of equity as_set_s in exchange for profit shareholder (including Dongning case , Next Media, CITIC Ka Wah, Samsung, China Resources restructuring, privatization Wheelock). This book aims to use actual cases to readers how the wealth to the rich tilt; small side, the way the book is listed as money-making tool, but can also be exploited as a tool to avoid the book, but also as valuable tool for vertical and horizontal markets. "Specimen: real estate leader in the road ahead." The book is a worthy reference for all industries and business risk management case _set_ cases cited include: Henderson Group, New World Development Group, Sun Hung Kai Properties, Cheung Kong Holdings, Wheelock Properties, Sino and real estate. ... "Thinking: The world-class strategic thinking business and entrepreneurs." The book is a worthy reference for all industries and business strategic thinking case _set_, book cases cited, including: LG, Hyundai, TSMC, Sony, Nissan, Mitsubishi, Canon. "Science Fiction: Chinese high-tech enterprise development strategy evaluation" World's most famous Chinese economist, Professor Lang pulse of high-tech civilization of China, Chinese high-tech enterprises to implement strategies to help break! . Lang view: China's high-tech thinking is thinking like a Chinese restaurant, that is, processes do not speak, do not speak the discipline of thinking; a team without discipline is impossible to grow Microsoft's. .. Do not support high-tech civilization, the concept of the seven traditional culture: "Failure is the mother of success"; "do not kill a chicken chopper"; "skillfully deflected the question"; "does not aim at, but they try too"; "layman leadership"; "rather be beheaded, improper Pteris ";" does not it pours. " Chinese high-tech thinking puzzle: for research or for research, for experts or for the product, or process-oriented, results-oriented, or for opportunities for strategic, development-oriented research and development, or the law of the speed-oriented " people-oriented "or" of law. " China High-tech R & D strategy and R & D organization is simply wrong. ... "Lang said: no one can not escape from the financial crisis." Lang said: no one can not escape from the financial crisis "is not like you I bow in the sun, streaming with sweat, hard work quietly"? You also have the same heart as this generation's dream of a simple and honest: if they work hard work hard, be able to "pursue an unexpected gentle"? To this end, you "even if by a cold, do not give up the life you want." Can be bloody reality in front of you: business failures, business collapsed and even more frightening is the kind of simple life in the past gone forever! 35% of economic output, China must rely on exports, and these outputs are dependent on the terminal consumption patterns, as the global financial crisis has been no deterioration in one step past the scenery. U.S. subprime mortgage crisis on the impact of our limited so far, have not really started, the real beginning is when? The United States after the collapse of the firewall. Once the rupture of a firewall United States, the impact to the U.S. consumer market, due to reduced U.S. imports, our exports are affected, which blow to the fundamentals of our economy. "Financial unrestricted warfare" Financial unrestricted warfare - Lang International financial speculators that financial terrorists, they created a global financial crisis, terrorist incidents, terrorist attacks that they made the financial result of the global economic losses in excess of the Second World War to the worldwide economic losses, but also to people around the world create an unprecedented psychological panic. Book from the financial crisis made the source of the terrorists talk from the subordinated debt of the formation, spread to the U.S. economic slowdown, the bubble burst, financial institutions, money-strand breaks, such as Europe and America's bailout policies have been described throughout the process is a complete reading of popular literature of international financial speculators. Meanwhile, Professor Lang analyzed the global economic downturn may impact our economy, put forward China's response to it, in order to promote China's economic well-cycle. In the analysis of the real economy issues, Professor Lang topic of concern for many people to do a user-friendly explanation, is a must-see people in times of crisis crisis response guide book. Lang said: Who is the murder of the Chinese economy - China and Chinese enterprises possessed the cultural curse (Dangdang prerelease available nationwide) In this book, Professor Lang Tan Xing is very strong, and interest, bold and witty language, and look at the issue sharply, direct access to the most authentic aspects of the event. 3.14 events from CNN's slander of China, to surmount the earthquake; economy from excessive public expectations of the Olympic Games to the Olympic Games the Chinese style etiquette; also cross-strait status quo of the Taiwan true interpretation, highlighting the cultural integration of Kung Fu Panda and the wise can become outstanding entrepreneurs; Professor Lang has done a very real interpretation, all in television, print media unheard of point of view, this is what Professor Lang system of two cultures on the basis of a thorough understanding and people from the community in general show little detail in the fundamental trend of big events, so that the reader has sobering sense of stirring. After explaining the evil of Chinese culture, the Professor Lang began to tell the ancient history of the four major business group, and a thorough analysis of the performance of these evil and the impact of history on the business group. Ancient China by analyzing the business to help the rise of all time, and the most glorious moment of the different capital providers use to help choose a large historical context, the analysis of ancient Chinese businessmen tenacity, hard work, and their ideals, and the decline of the business to help reason to think, the last feudal dynasty of China's comment on the decline.
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Lang quotes
(University graduates find a job) is not in the wrong parents, wrong positioning of the industry chain in China, in a manufacturing-based country, find a job it should be. China's economy is the dual economy, and there is cold overheating, and this is even worse in Guangdong. 90% of Guangdong Enterprises pressure from the dual economy. Most like to talk about Guangdong, because of too many problems. I am opposed to 'Privitization', even if the entrepreneurs have done better, nor can the business gave him! Welch is not so much legend as it is the bubble Welch, Welch GE shareholders is to bring a bunch of bubbles. People only care about how much stocks, real estate, when up, where are you talking about deep ideas, others do not want to hear. So think "fought" the mainland. If the entrepreneur has done is what I do not see, and I closed the sword out from the arena today. Professor Lang Contact details "Lang said: Managers and employees must know the common sense," Introduction: The first phase of the story behind the brand Second inventory 2007 - Financial hot words CPI, the deposit reserve ratio, interest rate, the RMB appreciation, monetary policy ... ... the 07 used in high frequency financial hot words what does that mean? Them and how people and companies in the end there is the complicated relationship? Professor with the current program Zhonglang Xianping unique perspective of an economist in 2007 through the financial hot spots, "hot words" way to do a summary and comb. Phase III inventory of 2007 - Real Estate Keywords 2007 is the year of the real estate industry is not calm. Professor Lang will use the "up", "up", "listed", "the means" four words from the developer, the market, people, government to explain several aspects of the real estate market trends in 2007 and the 2008 real estate market forecast. IV inventory 2007 - Digital Stock In 2007 China's stock market has created unprecedented strong market, it also brings a series of astonishing new record data. Shanghai index's record high of 6124 points; base number reached 110 million people, what is behind these figures the deeper meaning? Stock code 601 857 in the oil market, has gone through a listing on the pressure, is what led to this situation? Beijing-Shanghai high-speed rail 220 billion in financing outstanding, it kind of contact with the stock market? Professor Lang Chinese stock market and foreign markets by contrast, through the nature of the phenomena analyzed in 2007 the economic driving force behind the stock market. Fifth economists see 'shock troops' Do not look at fly and sixth in Hong Kong Who is the largest "landlord"? Why do the three colors in a region need a taxi? What can be achieved without widening the road vehicles unimpeded? Fast-paced, densely populated modern cities to maintain orderly Where is the secret? For this fascinating city of Hong Kong, Professor Lang will be inventive, from a seemingly small pieces of examples around you portray a society about the true face of the legal system. Seventh Hong Kong to study, you know how much? When the number of mainland students to give up the choice of Hong Kong, Tsinghua University, Peking University, in the end they chose what a challenge? $ 400,000 to pay tuition, they can get? A newcomer to the mainland can not imagine how the students will face difficulties? As Hong Kong elite - the Chinese University of Hong Kong, Professor Lang will open their hearts to sincere and you figure it out, read the real situation in Hong Kong universities. Eighth advertising into the elevator when When our life, video ads everywhere, these advertisers will be welcomed by the general public do? In the elevator, you will choose boring, or will they choose to watch silly ads? Focus Media has been a smash hit is how to seize the gray elevator advertising opportunity? Professor Lang will issue a unique point of view, interpretation of the two elevator video advertising success inevitable elements. Ninth Secret financial predators Some people likened the international financial sector competition is not a battle, through the securities trading and currency trading, a lot of wealth here silently came into being and hidden flow of. Financial capital into the sunrise on the market price of the rise and fall always affects people's nerves, which caused shock and volatility will affect the world and even the people's livelihood. So, what exactly is the kind of person is behind all this it? What they are means to achieve great wealth for the purpose of it? The current program, please Lang Chinese University of Hong Kong professor you unravel this secret. Tenth mobile phone, impress you with the emotional _Select_ the phone, you pay more attention to functionality? Cheap price? Or just by emotional to choose? Mobile TV direct bombardment, can really impress you? Large number of mobile brand advertising which are actually hidden story? Current program Zhonglang Xianping professor analyzes, to tell you the nature of the mobile phone industry, and admonition from the heart of the domestic mobile phone go. Eleventh Joking stock (on) Twelfth Joking stock (the) For now everyone is talking about stocks that era, how many people know what is stock? How many people know the historical origins of stock? Stock and the Western churches have relations? These questions all contain a lot of interesting stories, the current program with easy to understand, Professor Zhonglang Xianping, humorous language to explain to viewers the source of stock. Thirteenth from Obama and Hillary battle to see the United States (on) Surging U.S. presidential election in 2008, Democratic candidate Barack Obama and Hillary Clinton's inner struggles of a so far only seen in American history, people talked about not only the United States, has also attracted the attention of the world. In fact, the U.S. electoral system and the final election results based on American society and American culture basis, in order to read the U.S. presidential election, we must first read the unique American society and American culture, Professor Lang with one vivid examples for the audience to open a door to discern the truth of American society. Through analysis of popular interpretation, those who have strange, can not understand the phenomenon of American society, those who have been misunderstood, misread the Americans, truly live show in front of you. Fourteenth from Obama and Hillary battle to see the United States (under) Part in-depth analysis in American society, the Professor Lang's focus fell on the topic of the 2008 general election. Obama and Clinton campaign itself is a quite interesting values of "drama": the U.S. electoral system is like? Blacks and women in the U.S. political arena has a kind of position, among them the United States who is more likely to be socially acceptable? Obama in the end Who are they? By virtue of what Hillary has to win votes? Face the public, they give them the means of competing in the end how the pros and cons? American society because of significant changes in candidate ever do ... ... Professor Lang with his right, a thrilling contest between the calm and quiet easy to understand bureaux. Fifteenth "turning point", really exist? From the second half of 2007, "turning point" has become talkative street term, especially the turning point of the real estate issues have become major media attention object. But the status quo for the Chinese economy, real estate, "turning point" really exist? Current program, Professor Lang inventive, from the analysis of economic phenomena in China and try to interpret the real estate "turning point" problem. Is the sixteenth issue of advertising and non- Seventeenth most "beef" behind the retail 18th issue subordinated debt, to stimulate what? "Subordinated Debt" - a people both familiar and strange term, since last year been constantly mentioned as an international financial market a hot topic. After the crisis the United States and major European stock markets generally fall, Citigroup analysts believe the crisis in the United States about loss of almost billion dollars. So what is subordinated debt? How the crisis is caused by? It will go from here? What impact on China? How should we respond? What really spurred subprime crisis? Professor Lang is your analysis of the U.S. subprime crisis of the past lives. XIX college, where to find a job? Graduation season approaching, the employment situation of university students in 2008 how? Why is the employment situation in recent years has not optimistic? The current program, the Professor Lang from recent graduates of the overall situation, focus on analyzing the characteristics of the current macroeconomic environment, from the perspective of industry chain is difficult to identify the reasons for employment of university graduates. Finally, Professor Lang with other countries or regions of graduates, to express different aspects of the proposal to ease employment pressure. Article period "richer appreciation of the renminbi you do?" April 8, 2008, the RMB against the U.S. dollar for the first time breaking seven (7.0008), the face of the past two years, the rapid appreciation of the exchange rate, do you feel at a loss? The level of the exchange rate value with your life on it? RMB appreciation makes you richer yet? Current program Zhonglang Xianping professor will give you the reasons for the rapid appreciation of the yuan interpretation and analysis of RMB appreciation to the people the benefits and disadvantages. In addition, how to use the RMB to appreciate the opportunity to finance, Professor Lang will give detailed advice. If you do not want to miss, it must pay attention to this issue, "Lang said." 第二十一期 "Big E and the International Monetary inflation" Today's prices, or the traditional sense of the contradiction between supply and demand caused it? Today's International What causes inflation? Behind all this are financial predators shadow, just another international inflation not seen the smoke of the financial war issue, "Lang said," You will be how to mobilize international financial predators to decrypt the financial war, through international inflation, sweeping across the world resources. Twenty-two "The stock market's trust responsibility." Very good! ! ! Is a big talent! ! ! Serious attention to the Chinese government to Professor Lang! ! ! Professor Lang absorb knowledge! ! ! To further improve the country's economy! ! !
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Lang - personal view
China's high-tech thinking is thinking like a Chinese restaurant, that is, processes do not speak, do not speak the discipline of thinking; a team without discipline is impossible to grow Microsoft's. .. Do not support high-tech civilization, the concept of the seven traditional culture: "Failure is the mother of success"; "do not kill a chicken chopper"; "skillfully deflected the question"; "does not aim at, but they try too"; "experts leading experts"; "rather be beheaded, improper Pteris ";" does not it pours. " Chinese high-tech thinking puzzle: for research or for research, for experts or for the product, or process-oriented, results-oriented, or for opportunities for strategic, development-oriented research and development, or the law of the speed-oriented " people-oriented "or" of law. " China High-tech R & D strategy and R & D organization is simply wrong.
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The Bronze Teeth Lang
China's investors are aware of a people crying out for the small and medium investors, China's economic scholars have had such a taste of the style of a scholar; he not only dared to boldly challenge the stock market all the strange phenomenon, but also "language does not startle," all the way Delong scolded from Haier, TCL from the curse to Greencool ... ... he is the financial expert Lang. Local media said Lang, "curse" name of the financial sector in mainland China, Mr. Li Ao can be traced when the politicians in Taiwan! This is a controversial figure, publicity, alone. Some say he is outspoken fighter, it was said he was "crazy" economists, Lang is a self-professed "The Emperor's New Clothes," which the child that telling the truth. "Lang supervision," "Gladiator," "The Godfather"; "rogue professor", the "three no professor" ... mixed, Lang once again become the center of discussion. Lang its people University of Pennsylvania in 1986 Wharton School Finance Ph.D., has taught at the Wharton School of Business, Michigan State University, University of Chicago, the existing Department of Finance, Chinese University of Hong Kong, Professor, Cheung Kong Graduate School professor, the Shenzhen Stock Exchange Company management consultants and other titles. Long-term commitment to research corporate governance and protect minority shareholders rights issue. Lang Detective June 17, 2004, Lang questioned the TCL property rights reform. August 2, 2004, Lang Four Questions Haier management, attempted to draw the curve Haier executives to complete the MBO conclusions. August 11, 2004, Lang questioned the Gu Chu Jun, "Seven tricks" trick sweeping national wealth. Lang summarized the profiteering of Gu Chujun "Seven tricks" - camp, take advantage of the masters, exchanging gifts, big bath wash, looks greet people and by the chicken. From June 17 Lang questioned several well-known enterprises reform of property rights to the present, which lasted more than three months, the reform of state-owned property around the big debate is now almost complete, Lang said to myself, "This is the outcome of a speechless . " However, there are a number of Internet users look at this, economists and academics involved in the background of the official debate, people is not difficult to see a feast of ideas, but also very strongly felt the progress of our public opinion. Lang grew up Sellers study turned the corner Lang's father was a veteran of Shandong Province, the War of Liberation to Taiwan. "At that time, officers are generally with a box of gold, silver, but my father has brought a box of Qingdao beer, but also on board to finish up." He recalls. Shaonian Lang Xianping is downright mediocre. His license was assigned to junior high school bad grades can not be further studies, "Fangniu Ban", _select_ "wood" for future career, in Lang's memories, full of "recognition for their entirely." "I was a bully, very low self-esteem." Lang is a true portrayal of mind then. From primary school, every test, education, employment as if he were an insurmountable threshold. "Next Gairuhezou really do not know." 30-year-old Lang several times before being forced into the desperate Wind directions. In 1983, Lang has been a father while a reporter in Taiwan, while applications for study. He applied for a seven American universities, "My bad luck, only one school responded: University of Pennsylvania Wharton School, and no scholarship." At that time, Taiwan uninformed, very few people know that Wharton, "is not a joke , I went to Wharton to know the school had famous. " Later, his mother the family's two houses of a sell, it lobbied for a tuition fee for the Lang. Wharton is the nation's most prestigious business schools, 1986, Lang took only two and a half, won the doctorate in Wharton, Wharton said he received his Ph.D. in history one of the fastest. Nothing into the interior July and August 2001 to July 2002 about a year's time, Lang, the first thing to do in the mainland is as Dapeng Securities Research Institute Advisory week go to a couple of days. Dapeng Securities was open for business by the Ministry and would like to be computerized. Lang's work is the Institute's data and research results, digitized and computerized the entire company together. "But a year later failed," Lang jokes that he was fired. "Because technology is not my forte, it failed and this has an idea, we all felt quite okay, but do know it is very complex, the coordination between departments is not easy." Lang said, made a year later, found himself a little Zhitaicaishu, can not go on. Lang said he was Dapeng Securities to pay a monthly salary of $ 70,000 to sign one-year contract. He frankly stated that pay well, the year in Dapeng Securities flies pretty happy. Lang said that from early 2001 to the end of 2003 as "New Fortune" magazine's academic advisor, he's the second thing to do in the Mainland, "in the" new wealth "is also fired. The difference is that Dapeng Securities that I lack the "new wealth" that I was too radical. "Delong System article later published several, but the" new wealth "that I was too extreme, since 2002 I do not want to write articles the second half of 2002, I am" new wealth "is no write articles. "Lang said, to the end of 2003 he was officially opened out. July 11, 2002, announced the first Dragon Agro Lang was appointed as independent non-executive directors. But two or three days, the independent director has no ass to sit on the bench hot Lang, soon to be challenged to join the mainland media, "Delong Allies", "It was very passive, afraid to stay here in the first a Long Hao . "June 30, 2003 Lang Dragon Agro from the first position of independent directors retire. Delong event fame With the "new wealth" with a depth of six months after the agreement, Lang join the "new wealth" hit "Lang curse" of fame in its initiated a "research report" in Lang to the then flourishing German Long line attack, said, "we put the money can not even Delong back." Delong vested "in the world village", which acts in the printing is not secret, but no one that broke it. Lang to scholars as the first one to come out scolding Delong, world outcry. And he has boasted in a speech last year, "DeLong within half a year on the money chain could not stretch," and a prophecy. Lang has since been used as minority shareholders spokesperson, win, "Lang supervision" in the name. Delong ashes after Lang and started the famous "three battles": muzzle aimed at TCL, Haier and Greencool the Big Three. Want to do big thinker Why now stand up and criticize some of the big companies? "Because just Delong collapse three years ago I recall talking about, oh ... really accurate, just now of Haier, just met with." "It is time for society to my expectations, I do not know. From the end of 2003, 2004, the community, public opinion of my expectations are very high on my personal character, demanding: you must be totally independent, or how to speak on behalf of small investors. " Lang asked how future plans, his eyes light up, they want to become a real respect, "Lang supervision": "We too value the property rights reform, this is a mistake and now the stock market downturn, I found that most CEOs are at this time would like to share this cup of State-owned property, this is really a particularly good short-term opportunity to get rich, which is unfair people across the country and if I would be responsible for state-owned enterprises, national interests must be the center of the reform, the establishment of a system of professional managers, strong government regulation, fiduciary responsibility and motivation of the three parallel. " But this is not Lang's "ultimate dream." Conversation with Lang, careful people will find he often just a fraction will forget the topic, has been thoughtful, he boasted, "five thousand years, vertical and horizontal one hundred thousand years." Lang did not meet a "small Economist": "I want to go the path of a great thinker, a great thinker, must be familiar with Chinese history, but also their own categories." He continued in the idea is this blueprint . And Lang say goodbye. His stature short and pithy, fast action. Emergency line all the way to the elevator, he suddenly shoved a reporter asked back: "Do you think I can succeed?"
Translated by Google
Lang wonderful Zatan - What is China's economic crisis
Depression is not the nature of the economy the reader's mind you slump, devastated land of the unemployed so simple. In contrast, depression is a time of opportunity. But these opportunities are not widely available, but together into some special highlights, wait off to explore. To answer these questions, we must first understand how the Chinese economy in the end. Therefore, in the first chapter, let's talk about the real crisis in the Chinese economy - manufacturing crisis. The crisis comes from two difficulties, first is the deterioration of investment environment, and the second is excess capacity. The first dilemma is basically independent of the financial tsunami, but the impact of financial crisis to the second dilemma - excess capacity. We past through exports to the U.S. to digest this part of the excess capacity, but the financial tsunami of our exports, leading to overcapacity crisis emerged. Chapter II that we export to the United States to meet the American bubble consumption. What is foam consumption? As long as the bubble is called the consumer borrowing and spending. Important basis for our past success is exported, mainly to the United States. But now the U.S. financial crisis, Americans spending bubble burst. Bubble formation is very complex consumer and Wall Street manipulation are closely related. The second chapter of the Wall Street manipulation, consumption is how the formation of foam. Chapters I and II constitute the first part of the book. Our entrepreneurs face two difficulties, first is the deterioration of investment environment, and the second is excess capacity. The focus of this book is a dilemma in finding the two bright spots. First, I would like to talk about the virtual economy. Despite the good economy can not quickly reversed, but in the first two chapters are talking about the plight under the stock and property markets such as virtual markets is still there. And the U.S. government's strong intervention, the trend of gold and the euro have changed dramatically. October 21-22 Lang commenced in Hangzhou: Topic: "Macroeconomic forecasts and best coping strategies for SMEs" Lecture outline: 1, business model analysis of the background 2, from entertainment and star of the "making money" to talk about the business model of the prototype 3, different types of advertising companies, drug companies and funeral company's business model is more 4, the definition of business models and six modules 5, the business model and management model of discriminant analysis 6, positioning the business model design, business system design 7, through the analysis of revenue and cost structure analysis of 12 different profit model 8, the key resource capacity 9, the cash flow structure