skate
10-10-2010, 02:13 PM
Here's a lookey at China/ Brazil. thru a WSJ article. Both of which are quite strong, as you know.
17.1%: The rise in Chinese credit-card balances in 2009.
While consumers throughout the developed world struggle to shed debt, their counterparts in China and Brazil are piling it on.
In 2009, the year the global recession hit bottom, the aggregate credit-card balances of Chinese consumers rose 17.1% even as those of U.S. consumers fell 8.7%, according to a study by financial consultancy Lafferty Group. Brazilians increased their balances by 28.9%, part of a 9.2% rise throughout Latin America.
More people going into debt might not sound like a desirable development, but in some ways this could be. One of the global economy’s biggest problems has been its dependence on an overstretched U.S. consumer. If folks in places such as China and Brazil are now stepping up and taking on some of the burden, that could provide some much-needed rebalancing.
debt=growth....does not matter what kind of NET you use.:)
17.1%: The rise in Chinese credit-card balances in 2009.
While consumers throughout the developed world struggle to shed debt, their counterparts in China and Brazil are piling it on.
In 2009, the year the global recession hit bottom, the aggregate credit-card balances of Chinese consumers rose 17.1% even as those of U.S. consumers fell 8.7%, according to a study by financial consultancy Lafferty Group. Brazilians increased their balances by 28.9%, part of a 9.2% rise throughout Latin America.
More people going into debt might not sound like a desirable development, but in some ways this could be. One of the global economy’s biggest problems has been its dependence on an overstretched U.S. consumer. If folks in places such as China and Brazil are now stepping up and taking on some of the burden, that could provide some much-needed rebalancing.
debt=growth....does not matter what kind of NET you use.:)