Monthly Archives: May 2015

Nick Seifert – May 30th

Nick Seifert – May 30, 2015

To start off today we went to the Shanghai House of Pepperdine University. Pepperdine calls all their oversees studies “Houses”. Here we met three individuals. Ryan, an American and one of many of Dr. Usrey’s former students here in China, is a professor at this branch and also has a company that deals in old Scottish golf clubs in giving the Chinese an experience in the history of golf, which is a sport that has only been in China for 20-30 years.  Golf is a fast-growing business in China among its wealthy.  The next person was Ryan’s wife Tatiana. “Tats” worked for a marketing company called GlobeOne. This company focuses on a plethora of marketing techniques unique to China like using the power of local beliefs and myths. For example, the Chinese think ‘Crest’ is a Chinese brand.  Another is brand education which is used for things like alcohol, which the Chinese use for getting drunk and never for taste or enjoyment. The Chinese need to be taught the delicacies of alcohol like wine and whiskey past drinking it to get drunk. The last presenter was Lori. She works for Eden Ministeries, which is an organization that helps girls in human trafficking, specifically in red light districts to get out. Once out, the organization will give them a job making jewelry to sell and start making a living on their own as well as sharing the love of Christ.
After our meetings we went out to eat with Ryan and got ‘Hot Pot’ at a well-renowned restaurant in Shanghai for having unparalleled customer service. For example when Ryan ordered a Coke Zero which they didn’t have, they sent one of their employees to a local store to buy one, bring it back, and then serve it to Ryan. Hot Pot is basically a Chinese fondue. It is boiling water with spices that you drop meat or vegetables into and then attempt to fish them out of the pot when they are cooked using chopsticks. For some people this was easy; for me this is like brain surgery with one hand tied behind my back and no formal training. Either way the food was delicious and we all had a great time!
The last part of the day we made our way from the restaurant to The Bund. The Bund is a place right off the river that separates a part of Shanghai that looks like England and another, as Dr. Usrey put it, “looks like buildings from outer space”. Could not have said it better myself. On the way there we stopped at a department store called “No. 1” that is completely run by the government of China (amazing), and the Peace Hotel, which is historic from where the Communist Party in Chinas was founded, and is very well-known as it is located right off The Bund. Some of the students, including myself, got into some bargaining at some local markets and got some top-of-the-line ‘knock-off watches’ for dirt cheap. Or in other words, we got watches that don’t work, but say Rolex behind the glass, and we feel great about this financial decision!

Nick Seiferr

May 28 – David Horner

May 28, 2015 – David Horner
The last 24 hours have been very eventful from an overnight train to Shanghai to meeting with a major Chinese financial corporation. Taking the 14-hour train ride from Guangzhou to Shanghai went more smoothly than originally expected. All 20 group members, with luggage in hand, successfully fought the crowd packing onto various train cars WITHOUT leaving anyone behind. After this, we split up into different rooms throughout the train that each had 6 six beds. These Asian size built rooms/beds were small, but cozy. In addition, the rooms were shared with Chinese locals, thus adding another layer to the train experience.

Once in Shanghai, we were amazed at the enormous, unique towers located throughout the city. After checking into our hotel, we made our way to AllinPay Network Services Corporation to hear a presentation by a former student of Dr. Usrey, named Norman Wei (Asst. President), about AllinPay’s operations within the financial sector of China and the world. Consequently, AllinPay is a financial solution provider for personal and business arenas ranging from bank card acquiring business to prepaid cards to internet and mobile payments to finally payment services for financial institutions domestically. It’s a gigantic company with 33 provincial branches and 270 secondary branches located throughout China and all over the globe, rivaling PayPal and Visa. One interesting fact about AllinPay is it’s 1 of 22 Chinese companies that are allowed to conduct financial business across borders. China’s highly regulated financial sector economy by the central government puts a limit on the number of Chinese companies that can perform cross-border business payments in order to keep capital tightly controlled within the country. The meeting with Mr. Wei gave valuable insight into the current financial payment-processing systems domestically in China and abroad in Europe and North America while also revealing what they project for the future – a very different world of managing wealth with the Yuan as a primary currency. After the meeting, Mr. Wei took our group to the river walk, which again allowed everyone to experience the magnificent towers in Shanghai along the famous Bund and Pudong.