4 ms·
Chinese up and comers lack viable access to financial products. Couldn't it be said, that american home-ownership-interestees (or people in London) are paying a
by woodpanel 12y ago
Chinese up and comers lack viable access to financial products. Couldn't it be said, that american home-ownership-interestees (or people in London) are paying a premium that is due to the lack of choices to store your earnings if you were born in the PRC? Due to the lack of good government in China?
I wondered, if the one-sidedness in profiting from globalization would bite us back in the west. Yes, industries were outsourced, middle classes eroded but overall most people could afford ever more goods for ever less money, as long as there are enough third world peasants to put in factories (Which still seemed like a good deal for both, the 99% percent of the first and the third world).
I suppose it is getting back at us in the form of absurdly sky-rocketing asset prices?