What are the implications of these numbers for the world of science and technology going forward? China is not trying to win a few more Michelin stars or getting into the Guinness Book of records.
China in decline, China collapsing? No, China is accelerating.
China's saving per household is about 40%. Assuming there is 400m households and each household has a saving of US$10,000, that would mean US$4,000,000,000,000 or 4 trillion savings conservatively, adding to China's national reserves. The Americans want the Chinese to spend and spend, the Chinese said, no, we are saving and saving more, no need state welfare or pension funds. This is financial security.
China still has pension funds and cheap universal medical and healthcare. Free education up to secondary level and cheap university education relative to the West.
1 comment:
Singapore for true blue Sinkies is declining .
Lee Kuan Yew once told Singaporeans that cars and properties would never be out of reach for those who seized their opportunities. Work hard. Strive for a better life. That was the Singapore Dream.
Now we cannot even afford to buy a car COE . . . . . Happy Depavalli !!
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