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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Joan Osland Graffius who wrote (225208)3/4/2003 11:48:18 AM
From: RealMuLan  Read Replies (1) of 436258
 
Joan, >>Templeton or Mark Faber that noted the Chinese are saving 24% of their income. <<

Part of the reason is because the tax is very low in China, the housing is cheap, and there are a lot of opportunities to earn cash (without being taxed at all). So they have more disposable income. I read yesterday, some college students in NanJing consume (their parents' money) like crazy, and can afford off-campus 2-bedroom apartment, high-end notebook, eating out in restaurant 3 meals/day. And for a lot of people, they save to buy apartment and car because they do not like to borrow. So they save for consuming.
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