Thursday, January 15, 2009
Under the floorboards
The Contrarian Investor reports that the Chinese will have difficulty stimulating demand within their own country, if the Western buying spree stalls. Poverty, compulsive saving by those who can, and stacks of cash hidden under corrupt officials' floors mean that helicopters filled with banknotes won't tempt the population to get out and blow their wads.
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3 comments:
Apart from the trouser-sharing that all sounds most Italian.
if the Western buying spree stalls
well of course - if we don't want cheap garden furniture, they certainly don't
there'll be trooble at mill ...
HG - trouser-sharing ? could that have been the solution to the problems of the sans-culottes ?
Nick: "if we don't want cheap garden furniture, they certainly don't" - but maybe their neighbours will. I've been told that the Japanese are known as the "lazy Asians"! Goodness knows what that makes us.
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