The Chinese Secret to Saving Money Revealed
In Chinese culture, saving money is a tradition that is supported by many values. According to reports, the country has one of the highest saving rates in the world, at 46 percent of GDP. What is behind the Chinese’s excellent savings habits?There is definitely a cultural component to it, says Humphrey Yang, a successful entrepreneur and former financial advisor. Our American culture is flooded with sales and discounts, financing options, and free quotes. We’re always under pressure to keep up with our neighbors It’s a different story in China. Due to their cultural values as well as the demog...