You are in one of the category of Reflections of a Business Driven Life.  To read all posts, go to the main page, or you can choose to read or subscribe to a category:   on technology, on life, on business, favorite quotes, jokes, tidbits, EntrepreViews & reading reviews.

	Sunday, June 05, 2005

Interesting Comparisons of China and US   ( tidbits) Before I start, I just gathered from Time Magazine that Time Warner still makes over a million dollars a year from royalty payments on the song, "Happy Birthday to You !" which was composed in the 1930s. At any rate, Time Magazine ( May 16, 2005) reports on some interesting statistics also in comparing the American and the Chinese economy. In terms of personal finances:      China       United States - Disposable income per capita     $1,138      $29,372 - Savings Rate                             23%    1.2% - Debt as percentage of disposable income   30%    110% - Home Ownership                  81.2%      67.8% That means that while the Chinese earns less, they save more, has less debt, and more of them own their homes. Annual Expenditures:       China       United States - Clothing      $232     $1,749 - Dining Out     $159     $2,276 - Beer Consumption   21 liters     84 liters Overall, the Chinese still consume much less than the American consumer.  Only 8 out of every 1,000 driving age Chinese owns a car, compared to 940 per 1,000 in the US.  In contrast, there is an estimated 2.27 millionaires in the United States, and still about 236,000 in China. In terms of mobile phone ownership, only 54.6% in United States owns cell phones, but 90% of the Chinese do.  More Americans ( 61.8%) though, owns computers compared to the Chinese ( 27.8%)...  Over 94 millions Chinese now surf the Internet, and last year 2004, over 29 million trips were made by the Chinese overseas.   11:49:22 AM     comment []   trackback []