CNNMoney’s Global Forum writes about China spreading money globally seeking resources. After all, China has cash reserves and is growing an economy with goals to lift hundreds of millions of Chinese into a middle-class American lifestyle. America, on the other hand, is in debt and spending money that it doesn’t have while its middle class is drowning in credit cards and sub-prime mortgages.
However, what benefits China, may also benefit the globe. Global Forum mentioned that Chinese solar companies are driving costs down so governments, like the US, may not have to offer subsidies as an incentive to get people to invest in renewable energy.
The CEO of China Mobile said people in China’s poorest, rural provinces were buying low priced mobile phones. If mobile phone are that low, why aren’t we seeing those prices in the US? I priced phones for our daughter, who is on her way to college, and the model I liked was about $100 or 680 yuan—more than most China’s peasants earn in two months.
I wonder if we can buy mobile phones in China and slip our old chip into that new, lower-priced phone.
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