| <Average urban income in China is around $6,500 per year> You quote a meaningless average of several hundred million people -- and btw, that urban group is expected to be well north of 500 million people within the next ten years. There is a large and growing number of people with incomes substantially above the average $6,500 US, and that average has moved up in recent years. You also do not understand living arrangements, spending patterns and the cost of living -- food, housing and clothing for example -- which is substantially lower than in the US and which leaves ample money for saving AND discretionary spending. You also do not take into account the high participation in the workforce -- several people hold a job in a single household and many households are multigenerational. Your inability to grasp the market opportunity in China NOW and in the future reinforces my opinion that you are 20 years out of date -- you see China through the eyes of Hong Kong 20 years ago. Multinational companies are counting on China as a MARKET for their products to generate growth -- Intel, MSFT, BMW, VW, Nokia, Motorola, Starbucks, GE, Citigroup and on and on and on. There is a new economy Bill and it is hundreds of millions of Chinese with moeny to spend as well as products for sale. |
