June 06, 2010
Sunday
They save in 'communist' China but not in 'capitalist' Britain. Why?
A limited formal social security system means the Chinese save like crazy.
This is from a long article on the economic situation in China by Liam Halligan in the Sunday Telegraph.
The unintended consequence of the welfare state is that people save very little.
Posted by James Bartholomew • Indexed in Pensions • Welfare benefits
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