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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: KyrosL who wrote (88049)10/27/2007 8:19:53 PM
From: GST  Read Replies (1) of 110194
 
China's urban population growth is running at about 6-7% per annum -- and it has nothing to do with the fertility rate. A farmer planting rice in China has almost zero to do with the global economy -- but as farmers move into the cities everything changes. The urban population of China is skyrocketing -- and that is the number that has significance to global growth and consumption. There are now 182 cities in China with a population over 1 million people and they are bursting at the seams. The largest of these cities is now north of 30 million people - and it is not Beijing or Shanghai. The average urban Chinese person has been saving on the order of 40 to 50% of income and now has money to spend -- and the impact on global demand is now becoming increasingly obvious.
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