The chinese save like 90% of what they make. At least they are building stuff. What do we have to show? Our deficit keeps growing.
This will have to change for them to resume long term growth. China can't expect the US consumer to be the only ones spending...
That is going to be very very difficult. Asians do not like to spend money period it is their nature. That is like trying to turn a Gay man straight
Who goes there? I have my shirts sent there to be pressed. Nothing like a good-old-fashoned Chineese laundry.
Asians unlike Americans are okay living in an apartment or modest home. Its Americans who want everything big to impress. Which means lots of borrowing and spending.
Hopefully our Media Barrage aimed at the Asian youth will turn them as dumb as rocks on average and as willing to blow every cent on junk as our youth.
i think they save because there are no govt/public assistance programs (health, welfare, etc). also they do spend on important stuffs like education for their children.