Last updated on: November 29, 2005 at 10:15 pm
By
Desh Kapoor
Interesting stats from Reuben Abraham • China has about $1 trillion in personal savings and a savings rate of close to 50%. The U.S. has about $158 billion in personal savings and an average savings rate of only about 2%. • Shanghai boasts 4,000 skyscrapers — double the number in New York City. Still, 17% of the entire Chinese population lives on $1 a day. Only about 300 million people in China, or 23% of the population, are considered middle-class. • Wal-Mart Stores bought $18 billion of goods from China last year. With China’s annual exports amounting to $583 billion, that means Wal-Mart ranks as its eighth-largest trading partner, ahead of Australia, Canada and Russia. Read more