To: Snowshoe who wrote (63350 ) 5/5/2010 10:07:40 AM From: TobagoJack 1 Recommendation Read Replies (2) | Respond to i said to faber what i thought of hendry's takeplayer 1 Hugh Hendry trashes China.....investmentweek.co.uk player tj hendry says "I fear it could be, because it has not demonstrated an ability to create wealth [edit by jay: interesting point of view, am sure a surprise to man on the streets everywhere in china and hong kong]. It has demonstrated an ability to create GDP growth, which is a function of spending money [edit: spending money from where? oh, yes, savings mostly, one would guess, from real income growth, reasonable person might suppose] . The priority of economic management at the macro level should be to have a high re-occurring level of household disposable income, which manifests itself in a high level of consumption as a percentage of GDP [edit: by that logic usa economic history should be re-played without infrastructure buildout, and europe should have skipped the industrial revolution, should one take hendry seriously]"
