Beijing

View from my room

Beijing traffic is surprisingly sparse as we make our way around the city's tourist sites and to meetings. I learn that many of the main roads closed for a military parade (joint, with Russia) for 3 Sept, which requires practise and planning: public not allowed. The celebration marks the 70 year anniversary of the Second World War's end. Interestingly this is the first time for the parade - a signal of strength, perhaps ?

Also: the World Athletic Championships taking place at the Beijing "Birdcage" National Stadium and factories ordered shut to reduce pollution. It works, too. No smog.

Beijing's population is ca. 21m or world's 8th largest (Tokyo number one with 37m). I arrive as 2015 H1 growth below expectations while Xi Jiping's anti-corruption campaign has caused a serious political  wobble inflicting pain on equity exchanges around the world : Hong Kong down 30% from its May peak; the NYSE around -10%. Yet it is only calm with the investment professionals I meet. Of course concern, but otherwise only confidence.

From Beijing to Taipei.