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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Joan Osland Graffius who wrote (225161)3/4/2003 10:48:37 AM
From: Mike M2  Read Replies (2) of 436258
 
Joan, I know very little about the income distribution in China and how large their upper middle class segment is but your average Chinese factory worker cannot be the engine of consumption. I'm sure in a population of 1 billion there are many wealthy Chinese but few people have a propensity to consume like the US baby brats. They want instant gratification. A depression era slogan " make it last wear it out when it breaks do without" . I reject the historical revisionist school of thought that FDRs New Deal brought the US out of the depression - war time production did it. Mike
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