Yesterday, Now, or Later?

Question

What does long-term orientation stand for?

Answer 1

long-term orientation stands for fostering of virtues oriented toward futures rewards - in particular perseverance and thrift.

Opposite short-term orientation, fostering virtues related to past and present - in particular respect for tradition, preservation of face and fulfilling social obligations

Answer 2

In East Asia human relationships virtue-based rather than right-based – individuals considered to be lined in web inter-relatedness and ideas

In Euro-America cultural values focus on rational, liberal, individualistic ideals

Answer 3

Research done with Protestant work ethic with set of values and results of specific historical period. Conditions to satisfy: Availability of Western technology, Integration of local markets in a Global market, Initial poverty

Answer 4

Saving, in high LTO countries people high marginal propensity to save compared to low USA and in high LTO countries more invested in real estate vs US more spending orientated

Answer 5

It is good for the consumers to have savings in the bank and is because of low consumer confidence, but bad for economy as economic growth depends on consumer spending, and buying real estate

Answer 6

Short-term budget control without long-term vision on economic growth by opening Western markets, on education, healthcare, infrastructure so that Africa can become less dependent on foreign aid.