Chinese people only save to buy houses on debt with 5:1 leverage. The difference is there investments are all leveraged, whereas Westerners have a larger share

Chinese people only save to buy houses on debt with 5:1 leverage. The difference is there investments are all leveraged, whereas Westerners have a larger share of investments that are in equities with no leverage. It's easy to have a lot of "savings" when 100% of your investments on 5:1 leverage are appreciating at 7%+ per year for 2 decades. It's also easier to get that much appreciation when it's all debt fueled and on leverage.