(3) Liam Denning, Oil is a loser when China fights the Federal Reserve. Wall
Street Journal, Nov. 18, 2010.
http://online.wsj.com/article/SB30001424052748704648604575620943595184642.html
(4) Keith Bradsher, China's Focus on Food Cost May Ignore Inflation Risk.
New York Times, Nov. 18, 2010.
http://www.nytimes.com/2010/11/18/world/asia/18china.html?_r=1&scp=1&sq=consumer%20price%20index%20china&st=cse
("China’s consumer price index, which is based mainly on urban spending
patterns, assumes that groceries represent a third of a family’s spending.
* * * In the United States, groceries represent only 8 percent of the
Consumer Price Index.")
My comment:
(a) In other words, the quote in (4) indicates that American family spend
just 8% of their income on food, whereas families in China's cities spend a
third of the income. On average.
(b) Both (3) and (4) are awesome.