china on the edge of a precipice?, page-4

SaturnV

Yes amazing isn't it. Stimulate consumption through short term things like cars and appliances.

There are a couple of subtle difference here IMO.

1) There is reference to increasing the recycling of waste to recover raw materials. This is in keeping with the Chinese way, not necessarily the western way.

2) They remain a socialist/ communist society. The central government can at any moment decide to change laws and regulations without notice. For instance, as an example, the government could decide to repay all outstanding loans (print money) then outlaw any debt creation unless it is of a commercial nature (i.e. prevent private debt by citizens). Commercial loans are designed to stimulate jobs, increase wages and productivity ........ citizens either consume using disposable income or save or both. Of course citizens cannot buy a newly built house can they ........ unless they save to do so ........ (major distortions in economy, but achievable under the type of government that exists in China).

GC