Credit cards are in existence now, but what percentage of people own one and use it regularly? The credit limits they give you are laughable - like 80$ US. Li

Credit cards are in existence now, but what percentage of people own one and use it regularly? The credit limits they give you are laughable - like 80$ US. Like everything else you need to prepay to use it. I think you are discussing the fringe edge of China. Don't forget that there are a billion people there. A few rich folks are starting to get credit cards over the last YEAR. But imagine if 200 million middle class new customers get them this decade. The difficulty moving money out of the country is an interesting problem. It is no doubt feeding the bubble, as you suggest almost everyone of modest means manages to get a substantial amount of money out of the country regularly. It is also interesting to see the speed at which China develops. They build entire blocks of condo towers at once. They moved the steel factory of how many hundred thousand workers completely out of the city. Nowhere else has the liberty of wiping the old out and moving forward in the same way they do. It does seem that it does come with the perils of moving too fast and wiping out historical and natural progressions.