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Woman In China Gives Birth To 15 Lb Baby

Moye — Fri, 10 Feb 2012 15:30:45 +0000

From the AP: “A mother in central China has given birth to a 15.52 pound (7.04 kilogram) baby, possibly the largest newborn on record since the country’s founding in 1949.” The baby was born via c-section and nothing out of the ordinary was reported about the pregnancy. Aside from the fact that the baby was 15 pounds. In other news, Asian babies rule!

Asian Americans Have Mixed Results In Retirement Study

Tim — Thu, 09 Feb 2012 14:00:22 +0000

ING recently published a new study on retirement readiness in different racial communities. Asian Americans had mixed results in the study. There are some positive results. Asian Americans overall had saved the most for retirement, $81,000 in an employee sponsored retirement plan (versus $69,000 for the population in general). Not surprising, Asian Americans are more likely to contribute to a employee sponsored retirement plan, with 81% saying they contribute (compared to 75% of the overall population).

But Asian Americans don’t excel everywhere when it comes to planning their retirement. See where Asian Americans fall short in retirement planning and where else we excel after the jump.

Given the higher amount in retirement savings by Asian Americans, it should be no surprise that Asian Americans also contribute more to retirement accounts, 10.3% of a paycheck on average (versus 8.4% in the general population), and $324 on average per paycheck (versus $220 in the general population). Even with the higher contribution to retirement savings, Asian Americans also save more in general with 69% having savings outside of retirement plans (compared with 58% of the general population).

When it comes to routine savings and expenses, its generally considered a good idea to have an emergency cash reserve (90% of Asian Americans say they have one, versus 81% of the general population), and even better if that reserve can cover 6 months of living expenses (51% of Asian Americans have 6 months of reserve versus 32% of the overall population).

When it comes to debt, Asian Americans seem to manage it better than other groups. Only 15% of Asian Americans have student loan debt (compared to 25% overall), 23% of Asian Americans have a car loan (compared to 44% overall). Asian Americans use credit cards more (96% versus 91%), but have better control of them with 35% carrying debt on credit cards, versus 40% overall, and more likely to pay off credit cards in full every month (75% versus 50% overall).

So if Asian Americans are so great at their finances, is there anywhere they need help? The answer unfortunately is yes. Asian Americans are the least likely to have actually done any estate planning by writing a will and testament (26% versus 35%). This may be cultural, as it’s taboo to discuss death in many Asian cultures, with some believing discussion or activity around one’s death is inviting death into your home. Asian Americans are also the least likely to have actually calculated how much money they will need to continue their lifestyle after retirement (39% vs. 43%). Asian Americans are also least likely to work with a financial professional (22% vs. 28%).

The last place where Asians differ from the norm is concern for saving for short-term expenses (versus the long-term retirement savings). Asians are more concerned about saving for vacation (21% vs. 14%), and saving for a down payment for a home (12% vs. 8%).

My own parents were great examples of the results of this study. While they were successful in accumulating savings for their retirement, they didn’t think about it much, nor did they ever wonder if they’d have enough. They always figured they’d have their kids to depend on if they didn’t have enough. In addition, they really didn’t do any estate planning, as they were highly superstitious that it would bring bad luck, that is until it was pretty obvious they weren’t going to be around due to their terminal cancer diagnoses.

On the other hand I’ve probably well exceeded Asian Americans in retirement planning. I work with a financial planner, I’ve probably got way more life insurance than I need, and I’ve been contributing to a retirement plan since I was 22. Part of this drive, especially around life insurance and estate planning didn’t happen until my daughter was born. She was really the driving factor in setting up a living trust. So if you haven’t thought about life insurance or a will, and you have kids, you should get out and do some estate planning, not for yourself, but for your kids.

Is Classical Music Alive For Long?

Mary — Tue, 07 Feb 2012 20:00:00 +0000

It has been said that playing an instrument as a child is the greatest predictor of concert attendance as an adult. I can relate because I started taking piano lessons when I was eight and I continued learning for 10 years. I took piano exams through the Associated Board of The Royal Schools of Music almost every year and I was one exam away from obtaining my Diploma in Instrumental Teaching. I also performed in many recitals as a kid. Unlike many Asian kids who were forced to learn an instrument, I actually suggested to my parents I wanted to learn how to play the piano. To be honest, playing the piano was fun at first, but it got to the point where it felt like I was only learning to pass the exams and not for enjoyment. Nowadays, I still listen to Mozart, Beethoven, Bach, etc. and occasionally attend orchestral concerts.

It is a little ironic how many Asian parents force their children to learn an instrument as a child but not let them pursue music as a career. Learning an instrument is just another extracurricular activity to make one stand out from one’s classmates when it is time to apply for college. In many Asian countries, being competent in an instrument is a marker for success. Amy Chua’s Battle Hymn of the Tiger Mom, talks about her threatening her daughter during piano practice: “If the next time’s not perfect, I’m going to take all your stuffed animals and burn them!”

Although most Asian Americans do not choose music as their career, many top orchestras today such as the New York Philharmonic are made up of 20% of Asian Americans. Even though more and more Asian Americans are deciding to pursue a career in music and even learning an instrument, the financial state of orchestras is declining. In 2008, less than 10% of adults in the United States said they attended an orchestra. Every year, orchestras are praying that at least some people will still continue to go to orchestra symphonies. Even though ticket sales are dropping, there is one group that still likes classical music and even pay to go to orchestras—Asians. In Asian countries such as China, Korea, and Japan, classical music is still an aspirational totem. It is kind of funny how traditional Western music is most kept alive in Eastern countries today. The only people left keeping classical music alive are Asian Americans and older adults. Eventually if classical music does die off in Western countries, it might be still be kept alive in parts of Asia.

[Photo Credit: renochamberochestra.org]

Some Skin Whitening Creams Can Be Hazardous To Your Health

Jeff — Fri, 03 Feb 2012 17:00:00 +0000

Colorism, the bias that whiter skin is better, manifests itself in sales of skin whitening creams. This video from CNN shows how these creams are marketed to both male and female Indians. Filipinos are also plagued with colorism and are also consumers of skin whitening creams. I have always thought that colorism and skin whitening were damaging to the the psyches of people of color. It turns out that some whitening creams can be physically damaging too, and California health officials are investigating skin whiteners after a woman’s mercury poisoning.

Some skin whiteners include mercury because mercury inhibits the production of melanin, which gives skin its color. Prolonged mercury exposure can lead to neurological problems and death. The woman who was poisoned was a Latina woman who had gotten her skin whitener from relatives from Mexico.

California officials will be testing a sampling of skin whiteners for mercury. They will be targeting business catering to three priority groups: Chinese, Filipinos, and Latinos. In 2010, the Chicago Tribune found that six skin whitening products had mercury, and were manufactured in Lebanon, China, Taiwan, Indian, and Pakistan.

Another Side Effect of the Year of the Dragon: Increased Tourism in the U.S.

Jeff — Tue, 31 Jan 2012 18:30:28 +0000

Tim wrote about the side effects of the Year of the Dragon and here is another one: increased tourism to the U.S. While Chinese traditionally go home for the Lunar New Year, a growing number are going abroad, with top destinations being Europe, the U.S., and Australia. China’s National Tourism Bureau is expecting the number of Chinese traveling abroad for the holidays to be 60% higher than the previous year. Chinese students are said to be another source of tourism, as parents join their children to see the U.S. during the New Year holidays.

Trend Reveals Asian Americans Leaving Chinatowns For The Suburbs

Lexington — Tue, 31 Jan 2012 14:00:29 +0000

Nineteen years ago, my parents decided to move our entire family to the suburbs. As it turns out, we weren’t the only ones. A recent Washington Post article highlights the national trend of APAs moving away from urban Chinatowns and into suburban communities.

Back then, I didn’t really understand why we were moving so far away. We were living in Elmhurst, Queens, and had a fairly comfortable life. We attended a local Chinese church and we shopped at local Chinese grocery stores. Many of our family friends and relatives lived nearby. We were also close to my grandparents, who lived in Manhattan’s Chinatown.

One day, my parents decided to buy a house in Great Neck, a predominantly Jewish neighborhood that was a thirty minute drive away. Unfortunately, the house we bought was a fixer-upper, which meant that it needed renovations. We wouldn’t be able to move in until February of the following year. By then, we’d have missed half of the school year. So in order to make sure that our schooling wouldn’t be interrupted, my parents decided to have my sister and me attend the Great Neck schools immediately, before we moved.

That meant that every morning, we’d have to wake up at 6 AM. After a quick breakfast and change of clothes, we’d pile into the family car. My mother would drive us down Queens Boulevard in our cherry-red Pontiac Grand Am. We’d hop on to the Long Island Expressway, where we’d putter along (never over 55 miles an hour) until we reached Exit 33.

My sister was first dropped off at the local junior high school. I’d be dropped off elsewhere since I was still in elementary school. My mother and I would take our time as we drove over to my school, since we had half an hour to kill. We would wait in the elementary school parking lot while listening to 1010 WINS news on the radio. When the time came, I’d jump out of the car, walk across the parking lot, and go to school.

Then, my mother would drive back to Elmhurst and go to work.

After the school day ended, my mother would leave work to drive back to Great Neck and pick us up. First she’d go to the middle school to get my sister, and then she’d drive to the elementary school and get me. Finally, we’d head on back to Queens.

She did this for six months.

I didn’t realize it at the time, but that is one hell of a commute. Every day she would be on the road for over two and a half hours, and that’s if there wasn’t any traffic. I don’t think I truly appreciated it until I was older and started working and had a commute of my own.

I later asked my parents why we moved to the suburbs in the first place. Why did my mother have to endure such a terrible commute? Why did we pick up and leave such a familiar community and move far away from our friends and relatives? For me, it was an uncomfortable experience. Besides having to make new friends, there were just so many cultural differences between the city and the suburbs.

My parents told me that they did it for the schools. More than anything else, they were worried that my sister and I wouldn’t get a good enough education in the city. What if we didn’t do well enough to qualify for entry into one of the specialized public schools? The schools we were zoned for were terrible. And not only were the schools in Great Neck strong, the neighborhoods were also quiet and safe. There, my parents wouldn’t have to worry quite as much about our safety and well-being.

Basically, my parents decided to move for the benefit of their children.

To me, that’s really the reason why so many APA families have migrated to the suburbs. It’s not merely to achieve some vague sense of the American Dream – a nice house, a front yard, and a prettier neighborhood.

It’s really so that their children can attend good schools in safe neighborhoods. It’s so that the kids can have a strong foundation so that they will have a better future. The spirit that drove them to leave their home country and immigrate to America is the same spirit that drives them to move to the suburbs.

The Side Effects Of The Year of the Dragon

Tim — Fri, 27 Jan 2012 22:00:25 +0000

This past Monday, January 23, 2012 marked the arrival of the Chinese/Vietnamese/Asian Pacific Lunar New Year, the Year of the Dragon. The new year brings with it some well-known and some not so well-known side effects. It’s already pretty common knowledge that the Year of the Dragon means more births in the Asian and Asian American community, as a child born in the Year of the Dragon is considered auspicious and will have good luck. On 8Asians, Jeff has already written about how being born in the Year of the Dragon may give the child an advantage.

But there’s probably a few side effects of the Year of the Dragon you might haven’t heard about yet.

For starters, in an effort to ensure a child born in the Year of the Dragon, more would-be parents are turning to fertility treatments to help them reach their goal. One U.S. based fertility clinic reported a 250% increase in customers after advertising in Chinese language newspapers compared with a year earlier. The big increase in babies (in Taiwan there were 202,000 more babies born in the last Year of the Dragon, 2000, than the year prior, 1999), is expected to bring about a big increase in the demand for baby goods, like diapers, strollers, high chairs, and baby seats.

In addition to babies, the Year of the Dragon also means an increase in matchmaking and weddings, and with that matchmaking services and weddings are expected to bring in big dollars this year. The same belief that the Year of the Dragon will bring good luck to these new couples and spouses is driving the uptick in demand for wedding dresses, specifically red hand stitched dresses embroidered with the dragon and the phoenix. The jump in weddings is also expected to push up demand for gold, as much as 70%, as it’s used in many of the presents given to the happy couple.

The Year of the Dragon is also expected to heat up the real estate market in British Columbia, Canada and in China, as many new and existing families try to buy a family home in an auspicious year.

And here’s one you probably haven’t heard of. The Year of the Dragon is expected to also increase sales of the dragonfish. The sales are helped by the fact, that it’s believed that dragonfish bring good luck, health, and happiness.

So as we enter the Lunar New Year, may you find health, wealth and happiness. And maybe you learned something new by reading this too.

VIRAL LIKE SARS: Manikako’s Robot Love Story Will Make You Weep

Moye — Thu, 26 Jan 2012 14:00:06 +0000

I’m not quite sure what this short film is for, except that it’s the result of a sponsorship between Energizer batteries and Manikako, a Filipino non-profit organization that provides self-expression and an emotional outlet for underprivileged children through doll crafting. In this video, a robot finds love in a beautiful doll but learns what the ultimate sacrifice can be. Oh, and here’s a box of tissues.