February 2008 Archive

William F. Buckley Jr., RIP

February 28th, 2008

What a life he led.

. . . When I was in junior high school I pulled a stack of National Review magazines out of the discard bin at my school’s library. I had no idea what they were but took them home and read them. I became a WFB devotee, watching Firing Line on PBS on Friday nights, reading his books and columns, even affecting at times some of his odd mannerisms, accent and stylistic traits (in retrospect, ill-advised for kid going to a public junior high school in Alabama!).

My politics have swung over the years from the far right to the far left and now settled somewhere in the middle (socially liberal, economically conservative), but even if I no longer subscribe to the National Review I owe some kind of deb to WFB, Jr. His wit, generosity of spirit, love of language and tremendous élan helped lift my eyes beyond the school where I first found those magazines.

He wrote so many warm obits; I hope others now rise to the occasion.

NY Times version here, with slideshow here.

ChinesePod in NYT

February 17th, 2008

ChinesePod, which I’ve been recommending to language students for a long time, is discussed in this NY Times article about how technology is changing the study of foreign language.

The article also mentions LiveMocha, a site for language learning.

Overseas Expansion by US Universities

February 16th, 2008

The New York Times here reports on overseas expansion by U.S. universities. Having worked in China-based programs for the University of Maryland, I continue to be interested in this phenomenon.

Operating abroad can be a very positive thing for US higher ed institutions. The desire to earn additional revenues drives a lot of this expansion, but it can be good in other ways, too.

There is a missionary aspect—the opportunity to educate students beyond a US campus, spreading certain values or knowledge. That aligns with institutional goals. More narrowly, some of the graduates will be employed by US multinationals. Others will become enthusiastic, generous alumni.

Beyond that, faculty will not only teach but also learn in these programs. Teaching a room full of non-US students and simply traveling to new locations can expand intellectual horizons, often leading scholars and researchers in new directions.

The administrators trying to run these programs are also going to learn a lot. They will to have to cope with issues like foreign exchange, overseas employment laws and cross-cultural marketing that can broaden their appreciation for the complexity of the world (and will surely frustrate many of them as they encounter things that their institutions’ US-based procedures are ill-equipped to handle).

On the other hand, there are some risks and tradeoffs. It isn’t clear how secure academic freedom will be in some of the areas where expansion is going on. A number of US business schools (and a few law schools) are already operating or considering operating degree programs in mainland China, still a Leninist state. As a practical matter, there may be little interference, but the rules simply do not formally grant to these programs a level of freedom that would be acceptable in the US. The Middle East locations featured in the Times article are not bastions of classical liberalism, either.

Beyond the political risks, institutions could harm their brands. The article notes some institutions are not sending to these foreign outposts the same faculty they use in the US. If different faculty are employed, admissions standards are relaxed (or at least, per force, the student mix is changed), and the literal context is not the same (so that students don’t experience the home campus with its English-saturated environment, library resources and so forth), the experience students get may not be as valuable, even if the institution is generating revenues and capturing other benefits.

New Small Cap China Fund—Hao bu Hao?

February 2nd, 2008

The Claymore/AlphaShares China Small Cap Index ETF launched Wednesday. It trades under the clever symbol HAO (good). The sponsor has information about the fund here.

Guide to China-themed Funds

February 2nd, 2008

Richard Shaw has written a very good guide to China-themed funds available to foreign investors, published on the Seeking Alpha site. He covers the FXI, GXC and CAF.

The site also had a recent article about the premiums A-share buyers are paying relative to buyers of H-shares (for the same firms—ones that have been listed both in Hong Kong and on mainland exchange).