{"id":1497,"date":"2007-05-08T06:37:03","date_gmt":"2007-05-08T11:37:03","guid":{"rendered":"http:\/\/chimeraobscura.com\/vm\/quote-of-the-day\/"},"modified":"2007-05-08T06:37:03","modified_gmt":"2007-05-08T11:37:03","slug":"quote-of-the-day","status":"publish","type":"post","link":"http:\/\/chimeraobscura.com\/vm\/quote-of-the-day","title":{"rendered":"Quote of the Day"},"content":{"rendered":"

From a BusinessWeek interview with Nobel Prize-winning economist Robert Mundell<\/a>:<\/p>\n

Q: Why are the Chinese such huge savers?<\/p>\n

A: The large savings comes about through population policy. Historically, Chinese had children as durable goods to provide for retirement. When the one-child policy was introduced, it cut off this form of social security so the Chinese turned to high savings — instead of investing in children, they invested in savings for their old age.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

From a BusinessWeek interview with Nobel Prize-winning economist Robert Mundell: Q: Why are the Chinese such huge savers? A: The large savings comes about through population policy. Historically, Chinese had children as durable goods to provide for retirement. When the one-child policy was introduced, it cut off this form of social security so the Chinese … <\/p>\n

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