It’s the time of a year again when we sit down and take a quiet moment to rewind what happened in this year and write down a few things that we hope for the year to come.
The year or 2008 has been full of dramas and hardships. Many of us had learned from text book about the “Great Depression” of last century and have never thought the same thing could happened again in our life time. It did and, according to some economists, what we are experiencing now is no less than the last one 80 years ago. Even worse, this derpession occurs at a much grander scale and affects almost every corner of the globe.
Interestingly, similar to what happened after last depression, the current crisis raised hot debate on “Socialism” vs. “Capitalism”. People believing in “capitalism and free market” are reluctant to intervene the market crisis and while people who take action were labeled as ‘Socialists”. For us who are coming from China also remember well a similar debate on “Socialism vs. Capitalism” 30 year ago. As a result of that discussion, Chinese economy took off with what was called “Socialism with Chinese Characteristics” system, which can be seen as either a “regulated Capitalism” or a “limited Socialism”.
With my limited knowledge of economic theory, I see Capitalism is an approach that tries to solve the “supply and demand” problem and all other social issues associated with it from the end of “Production”, while Socialism tried to approach the same issues from the end of Distribution. Even though economists are by large divided into the two campuses, history seems to prove it again that there must be a “middle way”, a concept constitutes the core theory of Confucianism, and the way most of Chinese followed until today.
Regardless what the economists would say, as a direct result of current financial crisis, many of my friends and colleagues had to leave the jobs they worked for many years. That put hardship on their career and family. However, as I have observed in the last decades or so, the Chinese American scientists are probably among the most industrial professionals who would never give up and are constantly looking for new opportunities and directions. The changes in fact created new opportunities for many. Several of my close friends from multinational companies quickly landed on new jobs in China where they are leading a large group of scientists in drug discovery and development. An old Chinese verbal says: “If the East is dark, West must be bright”. In today’s situation, one might twink it a bit by saying “If the West is dark, East must be bright”. Things are tough at East as well but it still looks brighter!
As we step into the new year, I wish the world will become more peaceful. Constructive economy (i.e. construction and production) can only grow in a peaceful environment, while destructive economy (i.e. war and destruction) likes the opposite. Having experienced such hardship in his early life, our new President would have better understandings of what is needed to get us out of the current crisis.
As for all my friends, let’s stick together closer and to give each other more support so we can all pass the turbulent water and reach the other side of the river safely.
2009, here I come!