In case you missed the story on NPR, the Chinese government has come up with its own stimulus package to make up for dwindling US purchasing. As Marx laughs in his grave at the US government’s ownership of major business concerns, it looks like Madison Avenue may be called on to help complete the Cultural Revolution by convincing China’s thrifty peasants to stop saving.
Two key lines from the story:
China’s still facing problems turning its peasants into consumers.
“We Chinese have a tradition. We do not like to waste money.”