December 16, 2008
The Recession: Shanghai, Silver Linings.
There is a fairly prevalent theory that the best time to start a new business is during a recession/depression. I buy that. During tough times, established companies often disappear, get overly cautious, and lay off scads of good people, who can be hired relatively cheaply. During tough times, big shifts can occur.
A few months ago, I pretty much scoffed at the idea of Shanghai becoming a financial capital... Though I certainly am not convinced, I certainly am not scoffing either. To use a bad pun (particularly during this bear market), China is grabbing the bull by the horns and seems to be boldly making moves to increase its worldwide standing as a financial center. [more]
Posted by JD Hull at December 16, 2008 11:52 PM