Chinese Risk

Here is an interesting story about a study showing that Chinese are riskier than Americans.

Given the two nations' differences, from traditional values to political systems, Christopher Hsee, at the University of Chicago, and Elke Weber, from Columbia University, expected to find Americans readier to take risks. So did the American and Chinese students whom they asked. But when they then asked the students to choose between a high-risk, high-return investment and a low-risk, lower-return one, they found the opposite: it was the Chinese who were happier with risk.

There are many reasons for this, but what is important is the underlying economic implication. China could become a hot-bed of entreprneurialism, which in turn means that China could become the world's next economic superpower.

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