Word: saves
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...it’s ten dollars, but so is a bottle of nail polish remover. Save yourself the freshman year trauma of pounding shots of acetone...
Read "Can China Save the World...
...China, senior-care costs are, for the most part, borne by families. For millions of poor Chinese, that's a burden as well as a responsibility, and it unquestionably skews both spending and saving patterns in ways that China needs to change (see Save More, below). For middle-class and rich Chinese, those costs are a more manageable responsibility but one that nonetheless ripples through their economic decision-making. Still, there are benefits that balance the financial hardship: grandparents tutor young children while Mom and Dad work; they acculturate the youngest generation to the values of family and nation; they...
...Save More You've now heard it so many times, you can probably repeat it in your sleep. President Obama will no doubt make the point publicly when he gets to Beijing: the Chinese need to spend more; they need to consume more; they need - believe it or not - to become more like Americans, for the sake of the global economy...
...true. But the other side of that equation is that the U.S. needs to save more. For the moment, American households actually are doing so. After the personal-savings rate dipped to zero in 2005, the shock of the economic crisis last year prompted people to snap shut their wallets. Now that it's pouring, in other words, American households have decided to save for a rainy day. The savings rate is currently about 4% and has gone as high as 6% this year. (See TIME's photo-essay "A New Look at Old Shanghai...