Tuesday, September 08, 2009

Chinese Consumerism

"The US spends tomorrow's money today...We Chinese spend today's money tomorrow." - Cheng Siwei, Chinese Former Vice chairman of the Standing Committee of the National People's Congress

Cheng Siwei spoke in regards to the proclivity of the Chinese people to save rather to spend, he went on to express however, in this recent Telegraph article, the desire to change the country into one more willing to embrace consumerism. That change is an effort to make China less dependent on the whims of American consumers, buyers of Chinese products, and the foreign markets where Chinese dollars are now invested.

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