2009 m. lapkričio 6 d., penktadienis

Dienos citata: dėl kapitalizmo krizės kalti komunistai

"It can be seen how China’s One Child policy impacted the U.S. housing crisis. The relationship is as follows: The One Child policy, coupled with Chinese cultural preferences, produced shrinking families with a significant imbalance of male children. As time passed, increased competition for wives drove family savings rates upwards. Relative wealth increases a son’s attractiveness and hence, a son’s chance of finding a wife. The Chinese government, always alert to causes of civil unrest, knows it needs to keep the estimated 35 million unmarried young men occupied. This drives a full-employment policy focused on exports and keeps the Yuan12 artificially low compared with the U.S. dollar. The high savings rate lowers domestic consumption, leading to the same result – a manufacturing sector concentrated on exports and cheaper Chinese goods.

The low Yuan, full production employment, and a high domestic savings rate (and low domestic spending rate) result in a significant trade surplus for the country – and a high trade deficit for the U.S. High savings rates and a strong inflow of dollars drive the Chinese hunger for AAA-rated debt, the principal issuer of which is the United States. This high demand has kept U.S. interest rates low – helping to trigger the housing price bubble of the mid-2000s – and to absorb current deficits. "

David Justin Ross
Radiant Asset Management, LLC

3 komentarai:

  1. Iš kur iškapstėt šitą juoką?

  2. Tikrai, labai negražu. Visi žino, kad Rytai už Vakarus dvasingesni, ir taupo daugiau.

  3. Kodėl juoką? Dėl pirmos pastraipos galima ginčytis, bet kalbant apie trade imbalance- juk būtent taip ir buvo?