We popped up to Worcester this weekend to visit a friend who is here from China. Her seven-year-old daughter is spending three weeks this summer at language camp at University College. Total cost to mother and daughter: 60,000 renminbi (that's about $7250). Yes, there are Mainland Chinese who can afford these luxuries, although the average annual wage in Shanghai is around $2200.

I'm convinced that the Chinese are going to take over the world eventually. They are so hard-working, so hungry... it just amazes me how ambitious they are. I see a similar raw desire to get ahead in the Eastern Europeans I deal with here... the Indians too, but the Chinese still take the cake when it comes to voraciousness.

I look forward to the day that Doug Casey described when "... well-to-do Chinese families are going to pride themselves on having European houseboys." That time is rapidly approaching!

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