Weekend April 7, 2018
A reader posted this comment in the WSJ reacting to an article on the Treasury Secretary and Trup's tariffs
You should travel like me…enter the heart of China now…seeing 400M middle class is completed to build the largest economy scale of the world in the next 2-5 years…then you can start to joke around Donald Trump…this or that…The east tower of Guangzhou lease around 52 USD per square feet. The aver apartment sell for 1.5M dollar. With 200M apts were built and sold for this price….People here have more money to spend. China has 100 large cities with bullet train…2 hours, you go anywhere within 600 miles. BTW, check your bank now….may not enough with 10K…80% American do not have this cash…..but there are more than 300M people in China has more than 200K cash in the bank….and the Bank give them around 4-5% return by saving….with some CD or funds…What's your bank CD rate
I find his comment about 300 M having $200,000cash in the bank simply incredible, considering that most Americans still live paycheck to paycheck.
Professor Elam 
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