Nobel laureate surprised by Taiwan people’s money-saving habits

Focus Taiwan
Date: 2016/05/18
By: Chen Cheng-wei

Taipei, May 18 (CNA) Angus Deaton, who was awarded the Nobel Memorial Prize in 201605180029t0001Economic Sciences last year, said Wednesday in Taipei that he is surprised by how much the Taiwanese people love to save money.

During a speech at the Taipei International Convention Center that day, Deaton said that many Americans do not have the habit of saving, so if a study on saving habits were to be conducted, it should be done in Taiwan, China or South Korea.

Taiwanese people save money no matter what age they are, Deaton observed, adding that he has not figured out the reason for this.

Meanwhile, Deaton said that when addressing problems of inequality in consumption, one must also analyze individual consumer behavior and not just the overall economic data.     [FULL  STORY]

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