huangthomas

Everyone Is Working Hard to Increase Global Trade Imbalances

I examined carefully everything Chinese government is doing, but I doubt anything will work if they imitate what we are doing. Entirely different culture and economy. We have no idea what the 100 million poor Chinese will do if you double their income from $1/day to $2/day. And their middle class (making $7,200/year) will do. Our poverty line is $8000/year and our middle class make more than $100,000/year. Do not extrapolate American consumer behavior to Chinese consumers'. There is simply no comparison. Well, they may have their own way out, and I wish they do. But it is not ours to see, que sera sera!