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Politics : Ask Michael Burke
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To: Mike M2 who wrote (48737)2/24/1999 5:56:00 PM
From: BGR  Read Replies (1) of 132070
 
William/Mike,

Your point about strong cultural propensity for high savings and low consumption is well taken. That is clearly a risk. But TV does wonders my friend (not that I appreciate the effect that it has).

A brand new 4-bedroom condo in a decent location (note that there are space issues similar to, but not as severe as, Japan) and 2 new compact cars costs around 4 times an average dual-income Indian middle class family's yearly income after taxes. Not that different from the USA really.

-BGR.
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