.... men in China today feel compelled to save in order to find a bride. The same week, a former student of mine who lost his lucrative financial-sector job explained that he had no savings because it was so expensive to date in New York!An example of cultural difference about savings.
Saturday, February 7, 2009
Rogoff on China
Rogoff had an insightful piece about Chinese economy. One interesting sentence caught my eyes in particular: