Snow Urges Consumerism on China Trip – Edmund L. Andrews

From the New York Times:

Treasury Secretary John W. Snow, touring this village in the Sichuan province to promote “financial modernization,” urged China on Thursday to take lessons from the United States on how to spend more, borrow more and save less.

Mr. Snow argued that China’s consumers and entrepreneurs are badly in need of financial sophistication offered by American banks and investment banks.

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