China's emergence on the world cultural stage
Wednesday, September 28, 2005 at 8:03PM ■"A Classical Movement In China Gives Pianist Rock-Star Status: Economic Boom Helps Fuel Cultural Renaissance; Mr. Li's Hot Music Video," by Laura Santini, Wall Street Journal, 27 September 2005, p. A1.
■"More Firms Pick Hong Kong for Office Location," by Dow Jones Newswire, Wall Street Journal, 27 September 2005, p. A17.
Great story that locates China (yet again) in America's past: "This country's emergence as an economic superpower is fueling a cultural renaissance that, in many respects, parallels America's burst of interest in the arts that coincided with economic growth in the early 20th century."
Bingo!
Education spending in China is more than double what it was just three years ago, getting close to $100 billion. We're talking a lot of piano lessons in there. So Steinway now not only looks to China as its big future market (me, I gotta get a baby grand before I die, because the ones I've played are just unreal!), it's also outsourced the production of its lower-ends models (though not my Boston).
Remember when Van Cliburn could get a ticker-tape parade after winning the Tchaikovsky competition? Well, China is a place where "rock star" pianists are afforded that sort of acclaim.
Now just watch the classical world start beating a path to China's door. This will be a clear sign of China's Core status: when foreign artists start trying to "make it big" in your market because it's a big enough market to make the effort.
But, you ask, isn't this still the same China that's "communist" and hard-line authoritarian? Haven't we seen what happens to Hong Kong after it was absorbed?
China's leadership recognizes golden gooses when it sees them, or stuff that brings now just wealth but real acclaim as a modern country. The arts can do that. The Olympics will do that. And keeping Hong Kong as Hong Kong does that.
Why are more companies locating their regional HQs in Hong Kong: biggest reasons are the "tax system, the free flow of information, the absence of exchange controls, and its ports." Biggest downers? High cost of real estate and office rents.
Where are the commies in all of that? Beats me.
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