A worker of an Industrial and Commercial Bank of China Ltd (ICBC) branch counts money as she serves a customer in the China (Shanghai) Pilot Free Trade zone during a media trip on Sept. 24, 2014. (Johannes Eisele/AFP/Getty Images)
THINKING ABOUT CHINA
August 3, 2019 Updated: August 3, 2019
China’s falling savings rate coupled with increasing government directed investment rate threatens a balance of payments crisis that could crash currency and asset values.
China became the “factory to the world” and built incredible infrastructure over the last three decades based on the strength of individual savers who remembered the hard times of the Great Famine of 1958–1962 that starved to death 30 million people.… READ MORE...