To the Editor:

In response to the article “Snow Encourages U.S. Style Consumerism on China Trip” by Edmund L. Andrews (New York Times, October 14, 2005,C1, C5), I will focus on a few lines from the article to see if I got this right from a U.S. consumer’s perspective:

The definition of financial modernization according to Treasury Secretary John W. Snow is that “good credit facilitation and consumer finance is going to help consumers buy more things” (C1). Andrews further states that China’s savings rate is nearly 50% against the less than zero for the United States, and then adds the warnings by Chinese leaders that the United States “need[s] to get their house in order by reducing their fiscal budget deficits,” and they are aware of the “risky new types of home mortgages to finance homes that people would otherwise not be able to afford” (C1). A final quote from Treasury Secretary Snow, “Capital is getting into the hands of those [Chinese] who cannot make the best use of it” (C5).

So to draw a conclusion from a U.S. consumer’s perspective, in exchange for buying more things, there are fewer opportunities to own small business and farms, homes (clear from mortgages and equity loans), substantial savings, and healthy retirements. In addition, the consumer’s role in society is to buy things because consumers do not have the sagaciousness to make the best use of the dollar.

Joan Davis October 20, 2005 Secondary Language Arts Teacher 14104 N. Creek Dr. #2418 Mill Creek, WA 98012