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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: paul61 who wrote (88092)	10/28/2007 1:13:24 PM
From: GST	Read Replies (1) \| Respond to of 110194

<We cannot keep buying all their "stuff"> They are buying their own stuff -- and they are buying it like crazy. They are laying an average of 2000 miles of multi-lane interstate highway a year. They are building condos like mad. The cities are packed with people out shopping for everything you can imagine. Ten years ago I used to work with a guy who had a government job in Beijing. Every time I saw him he was wearing the same sweater with the same hole in it. He wore long underwear in his office because it was cold. He rode a bicycle to work in the winter. He lived in a crummy apartment. Beginning a few years ago his government job was spun off into an independent organization, he bought a car, bought a condo, bought nice clothes, travels internationally far more than most Americans and takes skiiing vacations in northern China in the winter with his family. His daughter will go to an American university. The problem with China is that people work from dated stereotypes while reality is no longer anywhere near the old stereotype.