Crisis and Entertainment

Economy recession has plunged thousand families in difficult financial situation, having to struggle between household duties and charges, loans reimbursement nightmare, fees for school and college for children…

After one year of this unpredictable cataclysm, I was wondering how entertainment business was facing the situation.

A nice opportunity to talk about this topic arose as my mother just came back from Orlando where she was for business. She told be about her trip and was absolutely surprised to see how transparent the crisis was for Disney business.

She said that the level of activity for the hotel was high – though several seemed to have reduced their rates to attract a larger range of people –, attractions were always full, and she had to queue up to get a table in restaurants.

She told me she witnessed a person buying for more than five hundreds dollars of gifts in a Disney shop. It is interesting to note, she said, that the lady who wanted to pay with credit card had to try different ones as they were all rejected probably due to limitations of credit.

Saying that, I wondered how this is possible. How people can still spend thousands of dollars while the situation and the future are still so uncertain.

My first assumption is that it may be a way for people to protect themselves from the moroseness. People save money for entertainment, probably reducing household expenses or delaying car purchase or the plan they had to remodel their bathroom or kitchen.

This is good for the entertainment business; nevertheless it is not a sign of recovery. Crisis is still there, though we start to see a slow down in the drop of economical indicators.

My mother brought me back some small gifts. It is interesting to note that all are manufactured in China – and therefore are manufactured for less than a dollar and however are sold for more that ten –. We have had a long conversation about that to finally agree to say that all the efforts developed by the United States to make the economy restart may finally result in helping countries such as China that product low cost goods. So we help these countries reactivating their economy first, before helping our own country.

I keep being reserved on how and when western countries will recover from the crisis.

I remain surprised to see how people seem to have reacted to the situation, as if they were ignoring it, and how some regions seem to not be affected by the crisis.

I hope they do that purposely and that it will help maintain a certain level of activity for the economy.

Equality

I recently studied the Declaration of Independence of United States. The sentence about the equality awoke my curiosity: “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty and the pursuit of happiness” Together with French motto “Liberty, Equality, Fraternity”, I wondered how the Equality concept had evolved with time and what it means today.

I think Equality and the right for Equality is a universal concern that has been debated and will continue to be debated forever as it is in constant evolution.

To me, the main step has been taken by making each human being equal as a citizen – in other words politically equal: “one man, one vote’’. Unfortunately, we know this rule is not universally true particularly in countries where dictatorships still exist. This ontological right is key for the humanity and worldwide organizations continue to strongly struggle to make it applied.

Even if we consider western countries, I don’t think people have reached and will ever reach equality.

At first, the main form of inequality was based on the social class (rich vs. poor). However, this principle had evolved into more subtle inequality concepts. For example, if you live in a polluted suburb and your child suffers from asthma due to the pollution, you may feel an inequality compared to your friend leaving in countryside. If you suffer from a handicap, access to a job will be more difficult.

I think all the efforts deployed for years and centuries to set up liberties and equal rights for everyone have turned into a tyranny for equality with the counter productive result of increasing inequality. What do I mean by that? In this context tyranny refers to what we are kept being said: that we CAN succeed in life even if we start with bad cards in hand. However, do you think, a person will have the same chance to access Princeton or Harvard if he come from the suburb of Bronx or from downtown Boston? Moreover, I think there is a business around equality driven by the wish of people to possess the exterior signs of richness: have a nice car, a big house, play golf, have a Rolex…. To me the main risk is to see our society sacrificing its differences for the sake of equality, forgetting that its differences make its richness.

A perfectly equal society could result in a “flat” society not willing to expand its potential and go beyond its limits to get better. I think we should awake. The race for equality in all domains has turned into the opposite effect. We need to cultivate the differences as a unique source of improvement to keep civilization progressing, while giving more value to the equality in the sense of promoting the right to be different but still having the same chances to make our life unique.

2010 World Expo

We start to hear a lot about the 2010 World Expo to be held in Shanghai from May 1^st to October 31^st 2010. World Expo is another year event considered as a unique showcase for each country to promote its recent advances in technology and foster worldwide economical ties. First World expo was in London in 1851 and the last one was in 2008 in Seville.

Each World Expo is developed around a theme. Shanghai theme will be of “Better City, Better Life” and will focus on improvement of the quality of life in the world’s cities

In American newspapers, Shanghai expo is presented as “a unique occasion for the United States to promote business, culture, and values in one of China’s most dynamic cities and to foster an even stronger friendship between the American and Chinese peoples. It should host 70 million visitors, among which 60 million from China. More than 175 countries will be present through a country pavilion’’.

However, the bill to pay for the United States to get a Pavilion is 61 millions dollars. It will be 50 millions Euros for France.

USA was one of the last countries to confirm its participation. Indeed, it is prohibited in the United States to spend Federal funds to participate in expositions such as Shanghai 2010 World Expo. So, its pavilion had to be funded by private and non-profit funds.

In March, with 40 millions raised coming form a dozen companies including 3M, General Electric, Dell, Pepsi, the United States confirmed its participation.

This is where we can start to think about it: Is it the best and most decent time to spend such a huge amount of money while worldwide economy is ruined by the economical crisis?

After the Olympic games in Beijing, the World Expo in Shanghai is the second worldwide event in China and a unique opportunity to overcome economical crisis.

Personally, I have a reserved opinion on the pertinence of this event in the current economical situation and how it can help world to strengthen and expand economical relationships between countries.

From an economical standpoint, China already drags a lot of our economy with billions dollars of exportation of goods not balanced by import.

To what extent will that be beneficial for United States and other countries? I don’t know. It will certainly help China to face the crisis. I see more opportunities and benefits for China as for the participants. Indeed, preparation will give thousands jobs to China, tourism will be boosted, and infrastructure like transport, hotels in and around the city developed for the occasion will benefit to Shanghai on the long term.

Is that fair to ask 61 million dollars to participate? It would have been reasonable to reconsider the project and the contribution asked.

I hope the effort deployed by each country in the current circumstances will be beneficial from a political standpoint by relaxing relationships when it is needed and that the theme “Better city, Better life” will rally all nations in the world around a central motto.