In China, Cultivating the Urge to Splurge

NY TimesThe Shopper’s Republic of China

The larger idea is to build a more sustainable economy, or what Chinese leaders have called a balanced and harmonious society. In that economy, families would not have to save 20 percent of their income in order to pay for schooling and medical care, as many do now. They would instead be able to afford more of the comforts of modern life — better housing, clothing, transportation and communication. In time, China would become the world’s next great consumer society.

That term may have negative connotations in the United States, particularly after the last decade of debt excess. But the term means something very different for China. A Chinese consumer society would improve the lives of hundreds of millions of people. The benefits of the industrial boom that began in the 1980s would spread more rapidly beyond the country’s eastern coast. The service sector would grow, and the economy would no longer be quite so dependent on smoke-spewing factories.
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Buy baby buy? Ha ha ha .. Chinese are savers and gamblers. It sounds so at odd .. but it’s true.

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