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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (14364)	10/30/2004 3:47:55 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

A couple of months ago there is an European company did a survey, showing that there are 100 million Chinese with an annual income of 100,000 Yuan (US$10,290). And up until last summer, a young man with a college degree and a couple of years of experience normally could get paid 10,000 Yuan a month. And I bet 95% of those housing loans are borrowed by the urban dwellers. It can be deceiving to just look at the average salary in China since a couple of billions of poor farmers only have an average annual income of less than US$100. According to the official data at the end of 2002, the average net worth of urban households in China was 228,300 Yuan (US$27,605), and now it should be at least 10% higher.