China had a record 14 trillion yuan (1.74 TRILLION in US dollars) of personal savings by 12/31/2005.
That figure increased 11% from 2004. Chinese families spend 60% of income and save 40% of income. Wait until that money finds its way to United States investment banks scurrying to build presence in China.
American families have on average over $7,000 of credit card debt. Go figure.
No comments:
Post a Comment