China saving too much money

[spike]

From correspondents in Washington
November 02, 2006
US President George W. Bush said today that he hoped China would transform from a country where people "hoard the money they have" into one where people buy large amounts of US products.

In an interview with conservative radio talk show host Rush Limbaugh, Mr Bush said China should become "a society in which there's consumers. Because now they're a society of too many savers".

"And the reason why they're saving so much money is because there's not a pension plan or a legitimate health care system. And so, therefore, people hoard the money they have in anticipating a bad day," said the president.

"If we can encourage China to become a country of consumers, you can imagine what it would mean for US producers and manufacturers to have access to that market," he said.

Mr Bush also said that the United States must remain present in East Asia because "we serve as a way to make sure that there's stability. And stability in the Far East, obviously, is essential for the United States in the long term".

"And therefore, that's why we'll have a presence there and should have a presence there for the long term," he said.

The interview came with less than one week before key US legislative elections in which Mr Bush's Republicans worry that the unpopular war in Iraq may cost them control of the Senate, the House of Representatives, or both.

http://www.theaustralian.news.com.au/story/0,20867,20687093-1702,00.html

 

[MrBishop]

I like that way that Bush assumes that if China become consumers (as if they aren't already on that path), that they'll buy from the USA. There's a whole planet-full of places to buy from.

In either case..they have to get over the social hump of turning into a capitalist country from a communist one. It's not as easy as flipping a switch.

 

[Gonz]

"And the reason why they're saving so much money is because there's not a pension plan or a legitimate health care system.

Thank God for communism.

In either case..they have to get over the social hump of turning into a capitalist country from a communist one. It's not as easy as flipping a switch.

The old Soviets are just now truly waking up to the pleasures of capitalism. They're getting rich folks by the thousands now.

 

[MrBishop]

The old Soviets are just now truly waking up to the pleasures of capitalism. They're getting rich folks by the thousands now.

Yeah...most of them thugs, drug dealers, smugglers, weapons' dealers etc..

Wake me up when it's the start-up companies, manufacturers etc...that make the big bucks.

 

[Professur]

There, or here?

Btw, the weapons dealer you work for advertises in which Chasse et Peche mag? Aventure chasse et peche, or Sentir Chasse et Peche?

 

[spike]

"And the reason why they're saving so much money is because there's not a pension plan or a legitimate health care system."

Thank God for communism.

There actually is a pension and healthcare system.

 

[unclehobart]

A healthcare system perhaps if you break an arm... but not cancer, AIDS, and the like. I've read dozens of times that any true wasting style disease or prolonged treatment is paid via black market bribery to doctors and hospitals.