Peter Schiff: Blame on US credit card consumption instead of China's high savings rate

American investor, CEO and Chief Economist of Euro Pacific Capital, Peter Schiff, wrote today (April 24th, Beijing time): "Treasury Secretary Scott贝森特 believes that the problem in China is that the Chinese work too hard and save too much. Besides, they should be more like Americans, buying things they can't afford with credit cards. In fact, we have no right to criticize the economic policies of China or any other country."

[Smart Comment]: Among Wall Street bankers and investors, Peter Schiff's view is a minority opinion. Peter Schiff makes a lot of sense, but the main officials of the Trump administration are unlikely to listen. In the eyes of American politicians, the problem always lies with others, never with themselves.

Original article: https://www.toutiao.com/article/1830241617994823/

Disclaimer: This article only represents the author's personal views.