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| About Paul Kedrosky |
| Dr. Kedrosky is currently the Executive Director of the William J. von Liebig Center in San Diego, California. Using an innovative seed capital program, the Center catalyzes the commercialization of technologies from the internationally-ranked University of California, San Diego. Dr. Kedrosky is also a venture investor with Ventures West, Canada's largest institutional venture capital firm, where he is most active in consumer technologies and software. He is currently on the board of Marqui Corporation, a marketing automation software company. |
Recent Article:
Why China Saves So Much Money
- For more on Paul Kedrosky visit paul.kedrosky.com
Great post by John Hempton on the real roots of China's penchant for savings: Its one-child policy.
In most poor jurisdictions there is a simple method of saving for old age. Have six kids. They will have a few each and if you survive there will be lots of grandkids trained to respect their elders who will look after you.
This does not work in China. Indeed if everyone has only one child there will potentially be four grandparents per grandchild. You can’t expect to get supported.
In most developed countries people trust the system to look after them. Mutual funds are well developed, there is often a social security savings net, and a lot of people (perhaps falsely) expect to sell their house and live in clover.
But in China you can’t trust that either. So you save. And save. And save…
Chinese families save because they have a gun at their head. They save an amount that is almost incomprehensible by Western standards.
Read the whole thing.
Why China Saves So Much Money - To learn more about this author, visit Paul Kedrosky's Website.
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