World Economic Forum 2008

[JimboPSM]

Although I know all of you will have been enthralled & gripped by the Economic Forum in Davos you may have missed (as I did) this brilliant quote from Cheng Siwei which I found on the BBC blog http://www.bbc.co.uk/blogs/davos08/

[quote] The Davos quote of the day comes from Cheng Siwei, vice chairman of the Standing Committee of China's National People's Congress, and thus a communist (well, in a Chinese kind of way).

In one of the many discussions about the state of the global economy, several Americans called on Chinese consumers to spend more, to make up for the downturn in the United States. After all, China's savings rate stands at 50%, the US savings rate is in single digits.

Persuading the Chinese to flock to the shops would be tricky, said Mr Cheng: [list][b][color=red]"The Chinese save today