Preparing for iPhone in China

Though the much anticipated release of the iPhone in China this past May never materialized, it is universally recognized as inevitable. When asked about getting the iPhone into China, Cook said that Apple would like to start selling there within the next year and are working on doing so.

There are surprisingly few Chinese iPhone applications, or iPhone applications geared specifically toward Chinese users, though the number is growing. Companies that create these applications now will be ahead of the curve once the launch takes place.

With that said, Yuxi Pacific Group will soon announce the formation of the Yuxi Pacific Mobile business unit. The goal of this new business unit will be nothing less than to become the largest creator and distributor of iPhone applications for the Chinese marketplace.

Look forward to a press release and more details in the coming weeks...

Reed Smoot and Willis Hawley, living in infamy

On Wednesday, Yuxi Pacific Group was a sponsor of the Doing Business With China conference, held at Temple University. The event was informative, if not intended primarily for a younger audience of potential entrepreneurs seeking to capitalize on business opportunities with China.

Mr. Bing Xu spoke at the event, the Chinese Consulate General in New York City. The speech rehashed much of the same tone that we have heard from Beijing in recent months. As Chinese government officials often do, he raised the Smoot-Hawley Act as an example of the dangers of protectionism.

Ironically, of course, in the 1920's and 1930's it was the United States playing the role that China plays today. China has taken tremendous steps in the past 15 years to reduce trade barriers as part of their entry into the WTO. However most obviously, what has not changed, is the government controlled RMB-USD exchange rate, despite a US account surplus that should dictate otherwise.

Changes are coming soon, however. With the massive amount of dollars being printed by President Obama, in addition to the relaxed lending standards by Chinese banks, China is about to face a massive inflation problem.