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It's not cultural. It was triggered by the smashing of the iron rice bowl.
by crdoconnor 11y ago
It's not cultural. It was triggered by the smashing of the iron rice bowl.
- seren 11y agoIf anyone is as puzzled as myself : https://en.wikipedia.org/wiki/Iron_rice_bowl https://en.wikipedia.org/wiki/Iron_rice_bowl
- crimsonalucard 11y agoNo, I'm a chinese person born in the US, I can confirm it's cultural. My father is from Asia and he sometimes looks down on "stupid/uneducated" Westerners for not saving their money. The irony is that if the the typical chinese person was "educated" they'd know that a functioning economy needs people to spend.
- jazzyk 11y ago>a functioning economy needs people to spend Agreed, as long as people don't spend money they don't have :-) You could be saving too much (example: China with 30-50% income saved) or not saving enough (example: the US, with saving levels around 5%, was actually negative before the Great Recession) Neither option is particularly good for the economy, but if I had to choose, I'd rather over-save than over-spend.