Lee Kuan Yew's article in Straits times

I would like to refer to the article written by our minister mentor in Straits Times.
In the article, he mentioned about the need for the Chinese to change their thrifty habits. In their culture, they are encouraged to save their money for 'rainy days'. Why do I make this claim? In the Chinese history, during times of disasters, the civilians often find themselves being alienated by the government for it is extremely difficult to obtain financial backing from the central government. Ergo, it is imperative for the people to stash away some of their money, and not spend all their money on material needs instead. However, change they must, since the global economy depends substantially on the rising dragon to drag the world out of the economic slump. If the world economy were to start functioning again, China would certainly serve as one of the most important catalysts.

But, when all is said and done, even though China might be one of the important players for the decoupling effect, America must also do their part for they are still biggest consumer on the earth judging by GDP alone.