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He points out that banks' credit-card loans still account for only 15% of all retail borrowing.
That Koreans use their homes to back almost all other retail borrowing gives Mr Irving comfort.Mr Irving's chief concern is the health of Korean banks, not the economy in general.
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It's part stealing, part retail-borrowing, and pure evil.
Remember, these moneylenders make their money on the spread between what they pay to borrow money and what the retail borrowers pay them.
A retail bank borrows your money, combines it with other deposits, and lends it back out to larger projects.
When you finally get there, you'll find Mosaic to be a retailing hybrid, borrowing elements from town centers, strip malls and small-town shopping.
They also became key agents in the operation of the U.S. "shadow banking" system, releasing themselves from dependence on retail deposits by borrowing in money markets to build a fast-growing asset base denominated in U.S. dollars.
Retail Acquisitions group borrowed £5m, secured against BHS's warehouse in Atherstone, Warwickshire, to provide half a promised equity investment agreed as part of his deal with Green.
As books began to be bought mainly in retail rather than borrowed from libraries in the 19th century, for instance, this caused the switch from multiple-volume to single-folio novels.
As a vice president of learning and development explained, "They're learning what it looks like to receive service from the other side". At outdoor gear company Cabela's, retail employees can borrow fishing and camping equipment and write a review, which helps them understand the customer's perspective.
They simply couldn't understand why Biyani kept harping on the need to think local, and fretting about borrowing retailing concepts from the West.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com