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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (48279)	12/28/2005 5:16:29 PM
From: GST	Read Replies (1) of 110194

Russ -- I am disappointed in your lack of interest in China beyond the comic book description you provided. Let me relate a short story to you. I recently met the man who started publishing a list of the wealthiest Chinese. He now publishes an annual top-400 list. What is striking about the list is that only one of the 400 became successful by leveraging government connections. The rest are all self-made billionaires and millionaires. The average super-rich Chinese grew up in the cultural revolution, had little if any formal education as a result, and made their money the hard way -- they earned it. I don't have amy illusions about China being anything more than a transitional economy with a mountain of challenges. But your comments make me laugh. You might want to do better that make up a comic book description. By the way, if you took the time to actually look at what is going on in China, you will find just about every major MNE in the world -- and they are there to make money. The Chinese are more capitalist than America at this point. If anything, there economy is so wide open that people get away with too much.

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