Looking Up And Looking Down.

The world is surprised over China's luminuous economy.
The progress is about 60%.
The economists are betting on China's future.
Chinese save 40 cents for every dollar of disposable income.
Americans refrain 3 cents of every dollar.
The saving culture of Chinese is alien to Americans, who spend what they have, keep nothing for the future.

Chinese thrift has become a myth.
As china is waking up to credit card, the spending has increased.
Every adult is entitled to credit card and the issue of cards is great in volumes
An individual can get as many as 8 to 10 cards.
This extravaganza lead to unmindful spending.
The distracted expenditure lands youth in debt.
As there is no bankruptcy law in China, the adults turn to their parents or friends to square of their liabaility.

Increased spending in China denotes the negative money, money which they do not possess.
It will take years for Chinese families to round off the debts that their offsprings have created.

As the world looks up towards China, China looks down which proclaims that it is no better than the rest of the world.