Being a hybrid planned/market economy, CCP still has much of a say in what businesses prosper & which do not. China has very little in the way of a consumer sector, quite the opposite of the US consumerism. This means there's very little for consumers to spend their money on versus a US consumer.
China's savings rate as a result of these pressures hovers around 50%, compared to the low 4% in US / 10% in UK / 20% in Germany & Northern EU countries.
Saving such a high % of income means more money is available in the banking system to be lent out to businesses for investment. So China has an export driven market in which they sell goods to the world, and then re-invest it to build more capacity to build more exports to..
China's savings rate as a result of these pressures hovers around 50%, compared to the low 4% in US / 10% in UK / 20% in Germany & Northern EU countries.
Saving such a high % of income means more money is available in the banking system to be lent out to businesses for investment. So China has an export driven market in which they sell goods to the world, and then re-invest it to build more capacity to build more exports to..