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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: KyrosL who wrote (53958)2/16/2006 9:33:26 AM
From: GST  Read Replies (1) of 110194
 
<Converting the high savings export and investment oriented Chinese society to a consumer society will take decades.>

More correctly, the conversion of China from a high savings export investment economy to a consumer economy will continue for decades. It is happening now -- all you need to do to know this is spend a day shopping in any of the hundreds of cities in China where hundreds of millions of Chinese go shopping, or visit people in their new homes. The Chinese save. They have strong balance sheets and low incomes. Their incomes are rising and so is their spending.

As for investment, much of it is to build the infrastructure of modern consumerism -- thousands of miles of interstate highway, entire cities built from scratch, power generation, pipelines -- all the infrastructure needed for a seriously consumer oriented economy.
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