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To: Victor Lazlo who wrote (151418)1/7/2003 11:52:45 PM
From: GST  Read Replies (6) | Respond to of 164684
 
Savings rates are pretty well baked into attitudes at all income levels in China. On a net basis, the US has borrowed hundreds of billions of dollars from China -- as I am sure you know. The idea of making money first and spending it second does not need to curtail long term growth. Remember that the GDP of China is not 800% larger than it was 25 years ago, and by the end of this decade GDP in China will be 15 times larger than it was in 1980, when Bill visited Hong Kong and became an expert on China.