Jack Ma’s Simple Economic Lesson

E-commerce giant Alibaba’s Chief Jack Ma on US vs. China:

http://www.cnbc.com/2015/09/30/jack-ma-to-us-quit-worrying-so-much-about-china.html

“Despite a much-discussed domestic slowdown, China has a quality that America doesn't, which could take its economy through tough times, the tech leader said.

"People say 'Well you know the economy's bad, so China consumption will be low.' No, totally different," Ma said. "You Americans love to spend tomorrow's money, and other people's money maybe. ... We Chinese love to save money.””

US analysts and economists should learn to pay attention to basics – debt-fueled consumption sprees are not the best way to generate long-term growth.