[NEWS] Chinese concept of "worth" vs. U.S. and why it matters

Discussion in 'Modern Chinese Coins & Medallions' started by yennus, Aug 3, 2011.

  1. yennus

    yennus Well-Known Member Silver Stacker

    Oct 24, 2010
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    An interesting opinion article on a Chinese person's concept of worth.

    "One of my close Chinese friends became aware that I collect Chinese coins and let me know that he owned a 100Yuan 1986 Year of Peace gold coin. He asked me to research the coin for him. When I let him know that there were less than 1,000 made and that the coin was probably worth over $6,000 he seemed happy and told me how it was the year he was married in and that the coin will do nothing but "year to year increase in price." This is a very important reaction from a man who lives off of a meager salary. This reaction is the kind of cool and calm reaction that I see many times over with Chinese people and their valuables. They simply smile and nod then indicate the item is special in some way and thus not for sale."

    The following article on Confucian values is also incredibly insightful (located under the above article).

    "A seperate cultural value dimension, Confucian dynamism, has been used by Bond (1991,1996) and the Chinese Culture Connection Group (1987) to explain some of the distinctive behavioral patterns in East Asian cultures. These cultures are China, Hong Kong, Taiwan, Japan and South Korea. Their primary values include a dynamic long-term orientation, perserverance, ordering relationships by status, being thrift centered, having a sense of shame, and emphasizing collective face-saving. The value of tenacity in pursuing one's goals together with the availability of capital for investment help to shape the five dragons and economic growth in the Pacific Rim."

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