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No, 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 n
by crimsonalucard 11y ago
No, 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.