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November 12, 2009
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Obama, who will visit China from Sunday until Wednesday, is especially well-liked among the youth in the world's most populous nation, who see the US leader as a symbol of the American dream.
In Beijing, where Obama will meet with Chinese President Hu Jintao, the latest fad in the tourist areas is the unlikely "Obamao" T-shirt - Obama dressed in a olive green Mao Zedong suit and red-star cap, Cultural Revolution-style.
"Most Chinese people really like Obama. They think he's nice, funny and he's the first black president," explains the creator of the popular shirt, 39-year-old Liu Mingjie, at his shop near Houhai lake.
A quick search on Google China for "Obamao" yields nearly five million results - more than the four million entries that pop up for Hu.
Internet users have also created "Comrade Maobama" - a kitsch portrait in muted colours of the US president with a wide forehead and a haircut like that of the founder of the People's Republic.
In a sign of the widespread enthusiasm over Obama's visit, universities across Beijing appear to have battled for the honour of hosting the US leader during his stay in the capital.
On Tuesday, students at the University of International Business and Economics handed senior State Department official Robert Hormats a copy of an invitation signed by numerous students and sent months ago to the White House.
Lu Dongkai, a 25-year-old finance student at the university, said he admired Obama's tenacity, and viewed him as a shining example of the American dream.
"He's black, and he worked hard to get to where he is. This is an accomplishment that the Chinese people can appreciate. After taking power, he initiated policies that benefit the average citizen," Lu said.
Liu agreed, saying he viewed Obama as someone who was "close to the working classes," which is why "normal people like him so much".
The university students also lauded the Nobel Peace Prize winner's oratory style.
"Obama's speeches make people want to listen to them, or read them. It gives us a sense of what the American dream is all about," Lu said.
"In China, it is more difficult to realise one's dreams. In the United States, you just have to be willing and able."
The Chinese translation of Obama's book The Audacity of Hope: Thoughts on Reclaiming the American Dream, released in China shortly before his election, has so far sold an impressive 140,000 copies, according to the publisher.
Before Obama's visit, an additional 5,000 copies were printed.
Analysts said Obama's popularity here can also be explained by his political pragmatism.
"This administration is more active and confident in terms of establishing productive ties with Beijing, especially on the issue of the global financial crisis," said Zhu Feng, an expert on Sino-US relations at Peking University.
Shi Yinhong, a professor of international relations at People's University, agreed, telling AFP: "In a very general way, his attitude on China-US relations is very positive and very practical."
Paradoxically, while Obama is hugely popular with the Chinese people, the United States is not, according to Hu Xingdou, a professor of economics and sociology at the Beijing Institute of Technology.
He said the world's "lone superpower" was still viewed by many Chinese as the "world's policeman, ensuring global peace but capable of hurting innocent countries".
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November 11, 2009
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It's November 2009 and we're nearing the end of a decade. It's been a tumultuous time of change for many industries, much of it driven by the Internet. With that in mind, over the coming weeks ReadWriteWeb will look back on the defining Web trends of the past 10 years. From the dot com boom, to the nuclear winter after, to the passion and enthusiasm of the pre-Web 2.0 innovations (such as RSS and podcasting), to the highs and hype of Web 2.0, to the current era of the real-time Web, to the near future of the Internet of Things. We'll explore all of this and more.
We're starting with online music. No industry, except arguably the newspaper one, has been rocked (pardon the pun) more by the Internet than the music industry.
Napster & Kazaa: Online File Sharing
The online music decade started with Napster, a music file sharing service created by Shawn Fanning that operated between June 1999 and July 2001. Napster enabled people to freely share MP3 files over the Internet; however it quickly ran into major legal trouble. Napster was the subject of lawsuits in 2000 by touchy metal band Metallica and others. It was eventually shut down by court order, after several major record labels went after the service.
After Napster's demise, a P2P application called Kazaa became the most popular service for music file sharing. But it too eventually succumbed to record industry attacks.
Curiously, both Napster and Kazaa were recently reincarnated as law-abiding services. After years of re-launch attempts, Napster was acquired by Best Buy in September 2008 and was born again in May 2009. Meanwhile Kazaa turned into a legit music subscription service in July this year.
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November 11, 2009
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Alibaba said Tuesday its net profit fell to 236 million yuan ($34.6 million) in the quarter from 296.6 million yuan a year earlier, as higher spending on marketing, staff and technology more than offset a double-digit percentage rise in revenue.
Chief Executive David Wei said profit margins are likely to widen in 2010 as spending stabilizes and revenue continues to rise, though he said sequential revenue growth is expected to slow early in the year as the rebound in China's exports loses momentum.
Alibaba, the Hong Kong-listed unit of China-based Alibaba Group, said its revenue for the quarter rose 32% to 1.03 billion yuan from 781.5 million yuan a year earlier. Revenue rose 12% from the second quarter.
The company said the decline in net profit was expected, "as a result of previously announced continuing investments in customers, people and technology."
Spending jumped in various areas during the quarter. Sales and marketing expenses soared 65% from a year earlier to 463.1 million yuan.
Alibaba has said 2009 would be a "year of investment" as the company boosts spending on additional staff, research and development, and new marketing, such as a $30 million advertising campaign in the U.S. and other foreign markets.
Mr. Wei said spending in those areas is likely to slow next year and fall as a percentage of revenue. Some expenses, such as the international advertising campaign, are one-time costs, he said.
Deferred revenue in the third quarter rose 42% to three billion yuan, driven by a 45% increase in paying members. Deferred revenue is a closely watched indicator of the company's future results. Alibaba provides listings for mostly Chinese manufacturers to find buyers at home and abroad, taking membership fees in return, which it recognizes over a 12-month period.
M r. Wei said Alibaba's extensive dealings with Chinese exporters give it "three to six months' lead time" to spot trends in the Chinese economy.
Based on those relationships, Alibaba expects "very limited" revenue growth in the first quarter of 2010 compared with the previous quarter, he said. The company doesn't expect double-digit quarter-to-quarter growth rates in 2010, as it has had this year, he added.
Yahoo Inc. owns a 39% stake in Alibaba Group.
Alibaba Group also operates Taobao.com, a shopping Web site; Alipay, an online payment service in China; and Yahoo China, a Chinese-language portal service.
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