Prof.Ferguson's article: Hold off on that obituary for the American Century

Professor Niall Ferguson at Harvard published a masterpiece at The Washington Post,Sept.21, 2008 on page B1, B5:

"Chinese savings surged from less than 30% to nearly 45% in the same time frame. This divergence in savings allowed a tremendous explosion of debt in the United States because the Asian savings glut made it much cheaper for households to borrow money. Meanwhile, cheap labor helped hold down inflation. My comment: The lifestyle of the folks in China with Wal-Mar effects for American consumers to save and pay less.
The reconvergence between East and West is speeding up. China's economy can maintain growth of 8% or more per year, propelled forward by state-led investment in infrastructure and growing consumer demand. Cf.First Nobel laureate in Economics, Jon Tinbergen's Convergence Theory,1969.
Sino-American friendship established back in 1972. " A Glimpse of the Chinese Language"(1965) on page 8 for China to be open to the world. Visit www.rand.org apropos of such paper for reference. China can explore other spheres of global influence, from the Shanghai Cooperation Organization that groups together China, Russia and four Central Asian nations to China's own nascent empire in commodity rich Africa."

The above citation of Professor Ferguson's magnum opus is Sino-American Economics in action by a distinguished scholar of history with his insights.

Francis Shieh a.k.a. Xie Shihao, an octogenarian graduate student from China in 1947. September 21, 2008 at 5.22 p.m.