The Olympics are becoming a joke and I'm depressed about it

Well this is monumentally depressing news. 

Wrestling, one of the earliest and most elemental Olympic sports, was dropped from the Summer Games on Tuesday in a stunning and widely criticized decision by the International Olympic Committee.

Apart from track and field, wrestling is considered by many the oldest competitive sport, one that made its first appearance at the ancient Olympic Games in 708 B.C. and thrives on its rudimentary attractiveness — one athlete trying to subdue another, not with equipment but with the fundamental use of the arms, upper body and legs.

Yet it was precisely the traditional nature of wrestling that appeared to doom it. A shift in priority has occurred in an era of outsize television contracts as Olympic officials seek to add more telegenic sports and more widely visible stars in hopes of maintaining a sense of relevance, modernity and youthfulness in the Winter and the Summer Games.

This from Dan Wetzel at Yahoo Sports, who I completely agree with:

The Olympics are special when they offer the ultimate global competition for a group of athletes, where everyone builds to this singular moment. It doesn't matter if it's a millionaire such as Michael Phelps or Usain Bolt, or a teenage gymnast with a dream, or a poor courageous middle distance runner out of Central Africa, the Olympics are an accomplishment that brings joy and tears and importance and everything.

Rory McIlroy will win a gold in Rio and then head off to his next event. Yes, it will be cool. Yes, he'll say the right thing. Yes, he'll enjoy it – the way the professional tennis players enjoy it – but it isn't bigger than the British Open or whatever major is next.

Two of my most memorable Olympic moments are wrestling related. The first was the monumental upset of Alexander Karelin of Russia (who had been undefeated the prior 13 years) to little known American Rulan Gardner in Sydney 2000. The other was just this pass summer when I watched Jordan Burroughs defeat Sadegh Saeed Goudarzi of Iran.

Watch both of the matches below and try to tell me how this sport, these athletes, and these moments don't deserve a place in the modern Olympics. I have no problem adding golf to the Olympics. I have a major problem adding golf to the Olympics when it comes at the cost of cutting the Olympics' most historical event. Yes, it is idiotic to expect the Olympics never to change. Venues will change. Audiences will change. Advertising and revenue models will change.

Cutting wrestling to include golf as an Olympic event? That's change that should have never happened. 

Today's Big Stories for October 16, 2012

1. How China's Self-Made Women Billionaires Earned Their Fortunes

Just eight women rank among the 100 wealthiest people in China, according to the Forbes list of China’s 100 richest, published last week. Of those eight women, two inherited their fortunes. The other six are self-made billionaires – a pretty impressive statistic, considering that just 7 of the 45 women on the Forbes 400 list of richest Americans built their own fortunes.

What’s amazing is how young, relatively speaking, most of the Chinese women billionaires are. Five out of the six are in their forties. Their youth speaks to the incredible growth of capitalism, and the growth of the economy, in recent decades in China.

An interesting read.

2. China and Its Trade Practices Are Coming to the Debates

Many Asia experts say Mr. Romney’s comments are indeed tough. They begin with a pledge to brand Beijing a currency manipulator on his first day in office, and end with promises to increase America’s

already formidable military presence in the western Pacific and sell new American fighter jets to Taiwan. Analysts say such moves would amount to a profound shift in a policy toward China that has remained remarkably constant for decades across Republican and Democratic administrations. And they would be virtually certain to upend relations with Beijing’s leaders.

Why don't any of the candidates have the guts to tell the American public the truth - that access to China's middle class is good for American businesses and (as posted below) Chinese businesses are more and more investing in the US. 

3. Coffee Chain Brands Expand In Retail Downturn

International coffee chain brands are rapidly expanding in the Chinese market against the background of a retail industry downturn.

Howard Schultz, founder and CEO of Starbucks (NASDAQ: SBUC) said earlier this year that though Chinese economic growth has slowed, he is still confident in a stable market and that by 2015, 1500 Starbucks outlets will be open in mainland China. Costa, from Italy, is trying to get a foothold in shopping malls by cooperating with Beijing Huanglian Group (600361.SH). Costa owns about 200 outlets in China now, and plans to take one-third of the share of the Chinese coffee market by opening 2500 outlets by 2018. Paul Smith, CEO of Costa Asia, has even said he will "resign if he cannot beat Starbucks in China".

Every time I go into a Chinese Starbucks it's packed with people. China still has a lot of growth potential in this area - I was just in Korea and there were 2-3 coffee shop on every block.

4. ZTE Shares Dive On Q3 Warnings

Shenzhen-based ZTE and cross-town rival Huawei Technologies Co Ltd, the world's second-largest telecom gear maker, are fighting weakened sales as some clients postpone spending on telecom equipment.

Both their outlooks have also been muddied by a recent US congressional report that urged American firms to stop doing business with them due to potential security concerns, but both have denied the report's allegations.

That US congressional report was devastating to both ZTE's and Huawei's American growth potential.

5. Yuan Rises To New High Against Dollar

The Chinese yuan traded at an intraday peak of 6.2654 against the dollar on China's spot currency market Friday, a record high against the greenback according to data provided by the State Administration of Foreign Exchange (SAFE), a development which likely signals the weakening value of the dollar rather than the start of another major round of appreciation by the renminbi, experts told the Global Times Sunday.

When I first arrived in China the exchange rate to the dollar was almost 8 to 1. Now it's approaching 6 to 1. Guess I should exchange those remaining dollars I have in my apartment to yuan.

6. Lumia 920T Leaks In China, Could Be Nokia's Ticket To A Huge New Subscriber Base

Corroborating earlier reports of a Lumia 920 that is compatible with China Mobile's TD-SCDMA network, the phone's settings screen mentions "CMCC", which is a reference to that operator -- although it's not clear whether the handset will also support the carrier's proposed LTE network. 

I will be very tempted to buy this phone if it works on China Mobile's new LTE network. I need to keep my current China Unicom phone number but am also interested in getting a China Mobile LTE device. This could be that device (finger's crossed). 

7. Chinese Investment In US Grows Despite Rhetoric

Despite calls for curbs on Chinese firms in the United States as the presidential election campaign heats up, mainland and Hong Kong investments in the US have nearly doubled this year and are expected to remain strong next year.

The value of mergers and acquisitions (M&A) by Hong Kong and Chinese companies in the US soared by 93.7 per cent to US$6.96 billion in the first nine months of this year, according to Mergermarket, an international publisher of deals data.

Remembering

From a July post about guns: 

I remember exactly where I was when I learned of the Columbine shooting. I also remember what happened the morning of September 11, 2011 - That morning I arrived to my high school and went to my fantasy literature class. I was only the 3rd student to arrive and the TV was turned on showing the twin towers billowing smoke. My teacher turned off the TV just as class started, saying, "it's not like there's going to be a war over this." Once class ended, I ran as fast as I could all the way across campus to my physics class. As I arrived, I saw the entire class gathered around the TV. I looked up and within seconds was immediately confused as it seemed there was only one tower. "How could that be?" I thought. Five minutes later, there were screams of "No!" from the classroom as the second tower fell. 

Eleven years ago and still as vivid in my mind as it was the day after. Something I never told my mother - I was scolded in my AP European history class the next day for reading the New York Times during the teacher's lecture. I guess something inside me said it was more important to read about and remember the victims of the attack than memorize the beginning and end dates of a 17th century French monarch's rule. 

One of the all time great political photos

President Obama, stopping at a pizza restaurant during a bus tour through Florida last weekend, received a big bear hug from the restaurant's owner. The owner was playing golf when he found out President Obama would be coming to his restaurant later that day. I can't imagine how quickly he dropped his clubs and ran off the course. Read more about the photo here.

This made me curious. I search the words "Hu Jintao" and "hug" in Chinese and below is the closest I could find. No big bear hugs. 

Update: Video of the pizza restaurant encounter below. Obama: "You are the biggest pizza parlor owner I've ever seen, man. Look at this guy!" Owner: "I gotta give him one of these..." Hug ensues. Obama: "Man, are you a power lifter or what?"

Another Update: Seems the owner only found out about the President's visit 18 minutes beforehand. I'm also seeing reports that the President ordered 20 pizzas. 

China smartphone shipments overtake the US

China is expected to have 26.5% of worldwide smartphone marketshare versus America's 17.8%. Why? It's a simple numbers game. 

China’s overtaking of the United States in smartphones doesn’t mean sales here are grinding to a halt, says Ramon Llamas, a senior research analyst at IDC, in a statement. Smartphones already account for the majority of phone sales in the United States, so a slowdown was expected, he said.

There's a lot of people here. Really.

Today's Big Stories for August 30, 2012

Mining accident, European debt, BYD in trouble, and China in Egypt

1. Death toll rises in China coal mine blast

The death toll from a gas blast at a coal mine in the southwestern Chinese province of Sichuan rose to 19, with 28 miners still trapped underground, according to the local city government. A total of 154 miners were working underground when the accident occurred Wednesday at around 6 p.m. at Xiaojiawan Coal Mine, according to Panzhihua city's official account on Sina Weibo, China's equivalent of Twitter.

2. China's Wen calls for action on Europe debt

Expressing alarm at Europe's debt problems, Chinese Premier Wen Jiabao called on Greece, Spain and Italy to embrace budget cuts and get their finances in order after meeting Thursday with visiting German Chancellor Angela Merkel.

1. BYD predicts dismal Q3 results

But the carmaker that used to own the country's best selling model F3 sedan has been outstripped by its peers in the Chinese market, despite only a total 9.6

million vehicles being sold in China in the first half, representing a 14-year low of 2.9 percent year-on-year expansion, according to the China Association of Automobile Manufacturers. Great Wall Motor Co on Friday said its first-half net profit rose 29.9 percent to 2.4 billion yuan from 1.8 billion yuan a year earlier after selling an aggregated 262,018 vehicles during the period. Geely Automobile Holdings Ltd, another Hong Kong-listed carmaker, reported last week that its first-half net profit rose 8.7 percent this year, following sales of a total of 222,390 units both at home and abroad, up about 4 percent from a year earlier.

4. Chinese firms brave uncertainty in Egypt to gain a foothold in the Middle East

The Chinese are attracted to Egypt’s massive market for cheap consumer goods and an expansive and relatively cheap labor force. Egypt’s large number of preferential trade agreements with Europe, Africa and the Middle East, along with the Suez Canal, one of the world’s most important waterways, also make it a prime location, said Chen Lin, the commercial counselor at the Chinese Embassy in Egypt.

5. Analysis: China's aircraft carrier: In name only

Retired Major General Luo Yuan suggested naming China's new aircraft carrier Diaoyu, after the Diaoyu islands in the East China Sea. It would demonstrate China's sovereignty over the islands known as the Senkakus in Japanese, he said. For a notable hardliner, it was one of the least bellicose reactions he has advocated throughout a series of territorial rows that have soured China's ties with its neighbors in recent months.

In other non-Olympic news...

China's manufacturing sector is displaying very weak growth: 

Concerned over the stagnating economy — the world’s second largest after the United States — China’s leaders have moved in recent weeks to shore up growth with policy easing measures and increasingly strident rhetoric.

The government has cut interest rates twice over the past two months and announced a series of bold spending packages aimed at reviving construction and government projects, such as the nation’s high-speed rail system.

Today's Big Stories for July 29, 2012 - Olympics Edition

China's off to a fast start, with their first ever golds in swimming in addition to golds in shooting and weightlifting. The men's gymnastic team is not looking too good though (and the Chinese women just lost to South Korea in archery). They must have been eating too many vegetables, just like the Chinese woman's volleyball team. 

1. China rules in the pool with Sun and Ye

Sun Yang propped himself up on the lane rope, posed for the cameras and let out a big roar as he pounded his fists into the water. It was the start of a big night for a Chinese swimming team that is developing into a major power.

2. New Pecking Order in Pool as China Wins Two Golds

It was a rough opening night in the pool for defending Olympic champions, above all a certain Michael Phelps, but it was a historic night for the Chinese.

3. U.S. Men's Gymnasts Are First in Team Qualifying

China and Japan slipped up again and again in qualifying, finding themselves tumbling from the high bar, falling off the pommel horse and stumbling on the floor exercise. At the end of the night, both teams slipped on the leader board, too. Japan plummeted to fifth out of eight advancing teams; China was sixth.

“One of our competitors was a substitute, so he lacked experience,” said China’s Chen Yibing, as he tried to explain his team’s shaky performance.

4. Olympics-Table Tennis - Everyone asks: Who can beat Chinese?

Chinese fireworks lit up the London 2012 opening ceremony and China's young table tennis stars are expected to rise to the task of taking every gold, although rivals hope the pressure could lead to an upset...

"It's very, very difficult to beat the Chinese. They don't just prepare for the Olympics for one or two years, they prepare for the four years with their training system," said Australian Miao Miao after winning her first round match on Saturday.

5. "Veggie" diet blamed for poor performance of China's women volleyball team

“They have showed significant decline in their strength and fitness” coach Yu Juemin said of his squad after Sunday's defeat to the US. “We are wary of meat tainted by lean-meat powder, and we didn't eat any during the game period,” Yu told the Shanghai Daily newspaper...

All Chinese athletes have been warned by the country's Sports Ministry to avoid meat contaminated with the powder, also known as clenbuterol, because it's banned by the International Olympic Committee as a performance-enhancing substance.

China bans the use of clenbuterol in livestock because of the chemical's noxious long-term effects on human health, but many pork farmers still administer it because it produces leaner meat. The World Anti-Doping Agency issued a warning last year about clenbuterol-tainted meat in China as well as Mexico, where it is also rampant.

As a result, the Chinese volleyball team only eats meat at its training camp, where the food can be tested for contamination. When players go elsewhere in the country, they have to forego pork, beef and lamb — as they did in the lead-up to the volleyball World Grand Prix finals tournament.

When is a magazine no longer a magazine? When it reaches 700 pages

From The New York Times:

Late last year, Cosmopolitan editors in China started splitting its monthly issue into two magazines because it was too thick to print. Elle now publishes twice a month because issues had grown to 700 pages. Vogue added four more issues each year to keep up with advertising demand. Hearst is even designing plastic and cloth bags for women to easily carry these heavy magazines home.

The magazine company is having to design special cloth bags just so women are able to carry around these huge magazines. Think about how crazy that really is. 

Today's Big Stories for July 23, 2012

Contaminated baby formula, South Chinese Sea island disputes, and Beijing flooding.

1 . Carcinogen Found in Chinese Baby Formula 

A month after large batches of Chinese baby formula were found to contain dangerous levels of mercury, state media outlets reported Monday that the authorities have discovered more shipments of contaminated formula, this time poisoned with a cancer-causing toxin.

Chinese babies can't seem to catch a break. 

2. China Plans to Put Garrison on Disputed South China Sea Island

China will establish a military garrison on a disputed island in the South China Sea, part of an increased assertiveness in the resource-rich waters that’s straining ties with nations in the region and the U.S.

3. Flash Floods Swamp Chinese Capital, Killing 37

A severe rainstorm pounded Beijing on Saturday, flooding roads and low-lying buildings, knocking out power in several neighborhoods and killing 37 people, according to state-media reports. More than 500 flights were canceled or delayed at the Beijing airport, stranding tens of thousands after the heaviest rain in 61 years fell on the Chinese capital. By Sunday the waters had largely subsided, the rainfall having scoured the city streets and temporarily clearing out Beijing’s notorious air pollution. 

Chinese tourists get angry at delays caused by Party leaders

I'm surprised I don't hear about incidents like this more often. From The New York Times:

Thousands of people threw water bottles and blocked traffic at a popular nature preserve in northeastern China on Sunday after word spread that the arrival of top Communist Party leaders was causing an hours-long wait to visit a scenic lake. It was one of a string of brash confrontations in recent months between the authorities and Chinese citizens.

Why is this important?

the specter of middle-class citizens fearlessly standing up to their otherwise omnipotent leaders is a scenario that fills Communist Party officials with dread. Xiao Qiang, director of the China Internet Project at the University of California, Berkeley, said the incident reveals the accumulated anger that many ordinary Chinese feel toward their government. “There was no serious injustice here, yet it did not take much for them to stand up and protest,” he said.

Emphasis mine. 

More on the Chinese college entrance examination

I've posted about the Gaokao before, and now the scores have been released. This from the New York Times:

The number, in this case, is the score for what is generally considered the single most important test any Chinese citizen can take — the gaokao, or college entrance examination. High school seniors took the test over two to three days in early June. Now, the tests have been graded, the numbers tabulated and the results released, region by region. In the final step, college selections are being made in an opaque process that stretches from late June into July.

“When the result came out on June 23, it happened to be my 18th birthday,” said Yang Taoyuan, who lives with his parents in Kunming, capital of the southwest province of Yunnan. “We had a family get-together on that day, and everybody was there when we called over to a hot line to find out about my scores.”

In a country where education is so highly prized, the score that a student earns after the days of testing at the end of high school is believed to set the course of one’s life.

Some are now questioning the value of such standardized testing, especially with the immense pressure it brings upon students. The NYT article highlights some controversial anecdotes surrounding the test but none is more heartbreaking than this:

Perhaps most shocking to the public was the story of Liu Qing, a student from Xi’an, Shaanxi Province, whose family and teachers hid from her for two months the fact that her father had died so as not to upset her before the exam. Ms. Liu, according to reports in the Chinese news media, did not hear the news about her father until after she had completed the test.

Very sad. 

Two non-China news events of the day, one exciting and one depressing

First the exciting news:

Physicists Find Elusive Particle Seen as Key to the Universe

Signaling a likely end to one of the longest, most expensive searches in the history of science, physicists said Wednesday that they had discovered a new subatomic particle that looks for all the world like the Higgs boson, a key to understanding why there is diversity and life in the universe.

Like Omar Sharif materializing out of the shimmering desert as a man on a camel in “Lawrence of Arabia,” the elusive boson has been coming slowly into view since last winter, as the first signals of its existence grew until they practically jumped off the chart.

“I think we have it,” said Rolf-Dieter Heuer, the director general of CERN, the multinational research center headquartered in Geneva.

How can this not be exciting and history-altering? It's literally a whole new world. 

Now the depressing news:

[Formula One Test Driver] De Villota Loses Right Eye And Remains 'Critical But Stable'

The Marussia team has confirmed that Maria de Villota has lost her right eye and remains in a “critical but stable condition” following her accident at Duxford Airfield on Tuesday.

The Spanish test driver, carrying out her first day of straightline aerodynamic testing for the team, made contact with a support truck at the end of her first installation run in the MR-01 and following treatment by paramedics was taken to Addenbrooke’s Hospital in Cambridge. The 32-year-old regained consciousness at the hospital but was confirmed as having sustained serious head and facial injuries.

A terrible event during a routine test session. Let's all hope this is the last of the bad news and she recovers quickly. 

One day in and The New York Times' new China project is already experiencing problems

Earlier today I wrote, "good luck with that," in reference to The New York Times' new Mandarin-language website. The issue isn't that the NY Times created a Chinese version of their website. The issue is they chose to host this site on servers outside of China and actively discussed their policy of not "tailoring it to the demands of the Chinese goverment." Seemed to me to be a pretty good platform for failure. 

Well it's now 14 hours later and during the time since that first post the NY Times' Weibo account has mysteriously disappeared. 

This entire project seems like it was conceived to fail. 

The New York Times just launched a Mandarin-language site

From The Verge:

The major question, of course, is whether the Times will be able to deliver objective news and editorials without riling China's government censors. "We’re not tailoring it to the demands of the Chinese government, so we’re not operating like a Chinese media company," foreign editor Joseph Kahn told Media Decoder. "China operates a very vigorous firewall. We have no control over that. We hope and expect that Chinese officials will welcome what we’re doing." The site's servers, it's worth noting, are located outside China.

Good luck with that. If you're in China and want to see the site while it's still accessible, check out cn.nytimes.com

Update: Just want to make clear I do appreciate the effort they're making and I'm interested to see how this pans out.