HFC 1-3
Sustainable Business Practices Sunirp Rehal
Chapter 1
The rst chapter talks about how American consumer and Chinese retailer are related. All the
goods sold in the malls of the America are produced in China. This is how China earns capital
that is invested back in the US treasury bills. This is the reason why Federal Reserve extends its
credits to businesses and individuals in the USA. As the credits were extended to people and
businesses in America so, they started buying more and more Chinese goods. On the other
hand, China kept buying more and more US treasury bills. This again made the federal reserve
extend credits to the people who were in America. As a result, they started spending the money
that they didn’t have in stores, houses, and other services. On top of that, the housing agents
told customers that the housing prices are never going down and even if they are not able to
make their home loan payments they can always sell it to a di,erent person for a higher price a
still earn a prot. Freeman also talks about how mortgages were given to people with low credit
score, low income and even without providing any legal document for non-citizens.
It continued for a long time until the housing market crashed.
Chapter 2
The second chapter talks about how America had a great technical development before the
9/11 a2ack. During the technical advancement period, America was satised and happy as it
was ge4ng whatever it wanted. Another thing that I learned was how di,erent generations has
di,erent work ethics. I can actually relate this to myself. The second chapter also talked about
the how consumer debt increased and at one point where nations savings were almost zero.
Voters wanted to overlook the reality that America desired higher taxes.
Chapter 3
In the third chapter Freeman actually talked about that how there is a lack of sustainability
these days and in future is it going to vanish the recourses that we would need. The today’s
generation is expecting a lot from our environment. If we do not start developing sustainable
habits the scarcity of these resources could lead to wars between di,erent nation. I agree with