bd1990

Two More Myths About Business in China

I can't agree more with your analysis. However, I am not sure how correct those data on credit card are. As I know, many so-called "credit cards" in China are actually debit card, there is zero credit in them.


"The number of credit cards in use in China rose from 13 million in 2005 to 180 million by the end of 2009, and that growth was fueled largely by younger consumers. Despite the financial crisis, we expect the number of cards to grow 25% a year for the next three years, as consumers demand them and the financial system becomes more consumer-oriented and less reliant on servicing state-run enterprises."

Bullish on China After My Recent Visit

I grew up in China and move to US at age 27. When I visited my hometown 14 years after leaving it, I could barely recognise 10% of the town. My folks kindly kept asking me why you don't come back. Most of my college classmates were owners of apartment(s), car(s) and they do appear genuinely happy with everyday life. I resent what the communist government did to students in 1989, but I have to admit, China is way more capitalist now than communist then. Some fundamental problems remain the same, no free press, no freedom of religion, etc. far less freedom by US standards. But US did not become the way it is in 20 years, so it is not fair to compare it that way. In priciple, I agree almost entirely on your sharp observation over a short period of time. Jim Rogers spend much longer time in China, hope your girlfriend will not complain if you move all you asset/investment to China as Rogers did. If you believe china is sort of like US 100 years ago, the stock market has another 29 years to grow. Good luck.