$120 oil doesn’t faze Chinese consumers
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/120-oil-doesnt-faze-chinese-consumersPosted on Tuesday, June 3rd, 2008 | In Asia, China, Current Market News, Stocks to Watch
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
I have talked to dozens of regular, everyday working Chinese during this trip and not one person has vigorously complained about the price of oil.Why not? Other than the very rich, most Chinese use public transportation or bicycles to get around. Plus, the price of gasoline is controlled by the Chinese government and highly subsidized. The Chinese care a lot more about the price of a bushel of wheat than a barrel of oil.Rising oil prices may put send the U.S. into a recession, but the impact of high oil prices in Asia is much more muted.
Last 5 posts by Tony Sagami
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Asia, Asia, Barrel Of Oil, Bicycles, Bushel, Care A Lot, China, Chinese Consumers, Chinese Government, Current Market News, Dozens, price of gasoline, Price Of Oil, Public Transportation, recession, rising oil prices, Stocks to Watch, Wheat
Asia, Asia, Barrel Of Oil, Bicycles, Bushel, Care A Lot, China, Chinese Consumers, Chinese Government, Current Market News, Dozens, price of gasoline, Price Of Oil, Public Transportation, recession, rising oil prices, Stocks to Watch, Wheat
 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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