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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (48352)12/29/2005 2:34:59 PM
From: GST  Read Replies (4) of 110194
 
Yes -- Roach is very well informed, and he is right that there is a high level of investment relative to consumption. But do the math -- all it will take to go from investment accounting for 47% of GDP to 35% of GDP is a few hundred dollars more in consumption per person per year. This is certainly an attainable goal. My contention is that there are too many clueless knownothings who think that China is just some place where a bunch of people file into factories and make cheap stuff for Americans -- end of story. The reality is that China is going through a profound transition at a remarkable pace and is teeming with bright, ambitious, well educated young people who live in cities and have realistic expectations of living in a prosperous country called China that is not simply a good place for a bunch of factories. If some of these guys bothered to go there once in a while they might see things from a more realistic perspective.
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