I noticed an article that said that the gambling industry in Macau was a much larger than that of Las Vegas... and the growth of the gambling industry over the past few years - in Macau - has been phenomenal.
Part of the explanation for this is that Macau is the only area where gambling is legal in China.
But I noticed another comparison, according to Aaron Fisher, while Americans are generally richer than the Chinese wealthy Chinese gamble about 10x as much as their American counterparts.
What does this tell us of what may lie ahead as the financial tsunami reaches China? Frightening...
Part of the explanation for this is that Macau is the only area where gambling is legal in China.
But I noticed another comparison, according to Aaron Fisher, while Americans are generally richer than the Chinese wealthy Chinese gamble about 10x as much as their American counterparts.
What does this tell us of what may lie ahead as the financial tsunami reaches China? Frightening...
Chinese people put a VERY HIGH PRIORITY ON LUCK AND SUPERSTITION.
ReplyDeleteAsk a Chinese person, and you will find that many things you would do without thinking are either good luck or bad luck.
Chinese people seem to chase luck as a spiritual pursuit.
It is well-known in gambling circles that Asians in general, and the Chinese in particular love to gamble.
Here's Google for "Chinese Luck"
https://www.google.com/#sclient=psy-ab&hl=en&source=hp&q=chinese+luck&pbx=1&oq=chinese+luck&aq=f&aqi=g4&aql=&gs_sm=e&gs_upl=392435l395796l4l397522l12l8l0l4l4l0l637l2654l0.4.1.0.1.2l12l0&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=34294a9e8374bc7d&biw=1600&bih=715
By way of comparison, here is a Google search for "American Luck"
https://www.google.com/#sclient=psy-ab&hl=en&biw=1600&bih=715&source=hp&q=american+luck&pbx=1&oq=american+luck&aq=f&aqi=g4&aql=&gs_sm=e&gs_upl=57629l59440l5l60573l13l10l0l0l0l0l314l1559l3.5.1.1l10l0&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=34294a9e8374bc7d
THEIR LUCK HAS RUN OUT.
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