Microsoft Senior Vice President Zhang: Financial crisis bubble did not eliminate

April 10 Evening News, Zhang, Microsoft Global Senior vice president, said today in the Boao Forum for Asia "post-crisis business environment" Sub-forum that the financial crisis, the government handled very well, but did not eliminate the bubble, now China's feeling is that the tide has returned, have not seen who in the nude swimming. The following is Zhang Transcript: Zhang: I'd still say a few things. First, our attitude is cautious optimism, we think the worst has passed, the whole economy is on the rebound. The second half of last year began to pick up. Look at it, software, this industry can be said to be the barometer of the entire economy. The total IT spending in 2009 was negative growth of almost 8%, and in 2010 we expected to grow by 9%. This is a turning point. Second, the PC industry, which last year was 2% growth, basically did not grow. Global growth has reached around 20% this year, with China reaching 30%.　　On the one hand, the contribution of Windows 7 products, on the other hand, the whole economic recovery. Second, the situation of China in the financial crisis. I often tell my friends, I said the financial crisis is too short, not much impact on China. You may know that there is a famous economist called Jupiter, he talked about the economic crisis in fact there are several advantages: 1, good enterprises will become stronger, poor enterprises are eliminated. 2, good business model will become more and more strong, sunset industry was eliminated. 3. Good people are left behind. You may also have heard a famous quote from Buffett, after the wave returned, you can see who are naked swimming. China's feeling, the tide has returned, has not seen who in the nude swimming. The economic crisis, due to the 4 trillion stimulus plan, has a relatively small impact on China, and many bubbles have not been removed.　　Including the housing bubble, the stock market bubble, especially the human mentality of the bubble. Just now Chen always talked about the pressure of modern people, the mentality of quick success, I think this is the biggest crisis. In particular, the reform and opening-up 30 years, now children have not passed any difficulties, no adversity. The crisis did not give them a chance to test. Speaking of house prices, two more words, housing prices for China, especially the competitiveness of enterprises have had a great negative impact. Especially to attract talent, retain talent has produced a great negative impact. Last month in Seattle, when I was cheering, I met a kid from Pakistan who asked me where I came from and I said Beijing. He said the price of Beijing is very expensive. A child in Pakistan knows that house prices in Beijing are crazy. So the financial crisis, the government handled well, but did not eliminate the bubble. (wood) Boao Forum for Asia 2010 Annual Meeting