The Rising Influence of Rising Affluence

[mrholty]

I think both answers can be correct. On a country level I think China is like Japan in the 1910-1920s and somwhat like the US in the 1920s as people left the agricultural field and rural life to move to the city where better jobs/quality of life were. At the same time with that shift restaurants should be an early beneficiary of the move.

My only Chinese stock I own is Country Style Cooking (CSCC) which started as a McDonalds knock-off and switched to homestyle local, rural food in cities at a cheap price. Large runway for growth and 100% focused on China.