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  • Emerging Markets: The New Spenders of the 21st Century [View article]
    China is better off without a social safety net. They will have higher savings, and if they don't get sick, they can pass their wealth on to their children, perhaps by purchasing a home for them. And the private sector is already developing insurance anyway, if people are actually concerned about "oversaving".

    Yeah, let's get Chinese to emulate the foolish Americans who spend everything they have and entrust their retirement and healthcare to a government that also spends everything it has. Hmmm, Chinese peasant with a fat bank account or broke American begging his broke government for healthcare.

    No, the way the BRICs will consume more is through increasing their income, not taking stupid advice from Keynesians.
    Dec 09 13:14 pm |Rating: 0 0 |Link to Comment
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