The Chinese Are Now Spending As Much As Americans
Zero Hedge -

In the US, the latest batch of data, released this week, showed retail sales climbed in December for the sixth straight month - though they missed expectations, with growth slowing to 0.3% MoM.

With the personal savings rate at a 10 year low, the US consumer is now fully tapped out: This latest uptick in spending has presumably been fueled by debt, as credit-card borrowing has reached an all-time high.

But another milestone in the history of global consumerism passed last month: As the ...

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