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China policy will turn nation of savers into spenders
Tuesday, November 24th, 2009
Chinese government investment in education, health care and social security will help turn a nation of savers into a nation of spenders, but Hong Kong accountant Laurence Lipsher said Nov. 6 that the changes won’t happen overnight. “Twenty-five or 50 years from now, you’re going to see a lot of impact and change,” Lipsher told an audience of about 125 alumni at the Thunderbird Global Reunion in Macau. “But 25 or 50 years isn’t even a blip on the radar screen of Chinese civilization, which goes back 5,000 to 7,000 years.” Lipsher, author of The Tax Analects of Li Fei Lao, is a 1965 Thunderbird graduate. | Video: A Nation of Savers Starts Spending (1:57)
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Chinese efforts to develop Africa have led to a new era of colonialism that sometimes stirs resentment on the continent, two Thunderbird alumni said Nov. 6 during a panel discussion at the Thunderbird Global Reunion in Macau. “Instead of employing Africans, they’re bringing over thousands of Chinese,” said Chris Fussner, a 1982 Thunderbird graduate who lives in Singapore. “Africans are greatly resenting this new Chinese colonialism.” | 