Chinese consumers are tightening their belts: What does that mean for the rest of the world?
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- Опубликовано: 30 июн 2024
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With slower growth in China’s economy, young professionals and middle-class people across the country are tightening their belts and cutting down on spending. But what can the rest of the world expect from diminished demand in the second-biggest economy?
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Chinese likes to save more. It's a different consumer behavior unlike in the West.
When prices of goods are cheap they need to spend less to get the same amount. So they can save more.
I have a family member in China who works for local government and did not get paid last month. I doubt this local government is in position to transfer wealth to the households. Also, I’ve been in many stores where the sales people outnumber the customers. It’s easy to miss this if you’re not paying attention and your situation is fine.
I also have a family member who said there is no such thing.
@@easternrazor3749 not sure which assertion you’re responding to. Please pay better attention when commenting so what you’re saying is clear.
@@gstlb Well I say you are lying. Is that clear enough?
@@easternrazor3749clear to me he's BS😂
Ccp bots
I think not only in China but usa, Canada and Europeans are cutting back on spending...
SCMP is NED's bot..no wonder..
For different reasons, the West have high inflation, while China has less income / high underemployment.
My India is currently grappling with the Nipah virus outbreak, yet awareness of this issue remains limited due to the stringent control exerted by the Indian government over the media. This lack of widespread coverage hampers public understanding and response to the Nipah virus, highlighting the challenges posed by media censorship and the importance of transparent and open communication during health crises. Increased awareness and access to accurate information are crucial in effectively managing such outbreaks and safeguarding public health
nipah again? Kerala?
I am from India and I dont think there is any such outbreak. I am anti govt and would know if there was any outbreak.
@@prashanthb6521 what about the epidemic of GobarBhakt?
What does it mean for H.K.? Fewer mainlanders will visit the SAR. Does H.K. want this?
Economy = speed of resource extraction. Less resources = less extraction. More dust bowls.
Fewer resources. Why do Americans never learn this?
The Chinese is indeed an intelligent race not like the Credit Card culture of the West.
😂😂
#nietmijnkabinet
Emperor XI is loving this
As long as the min wages are kept below 9 Yuan per hour, the rest of the world is happy.
Very happy with 5 kilos free ration monthly?😂
@@isleephungry
Okay, dalit
I was in China recently and was shocked the prices in a lot of grocery stores or department stores were similar to the U.S. The wages in China is a lot lower. I don’t know how people can afford to buy anything there.
Are you serious? I wonder what stores you went. The price is very low in China now, from food to staple goods. Inflation is just not a thing there.
China is experiencing deflation right now
The Chinese had to crackdown on this real estate bubble/speculation
In China in 2008 around 70% of the people in their real estate markets were buying their 1st homes in their cities
By 2018 around 70% of the people in their real estate markets were buying their 2nd and 3rd homes in their cities
That’s why you are hearing about problems with their property developers these days. Because back in 2010? Their Central Government started cutting of money flow to these developers.
Thus why you heard about Shadow Banks and Underground Economy back then, that their Government had to come into to shutdown or regulate.
Even then, It took them almost 14 years to get their overheated real estate under control
Heck they were about to introduce a nation wide property tax, but then trump started the trade war in 2018
Why is their Central Government doing this?
Because there are still a few hundred million poorer rural folk they still expect to move to the cities to join their more well off urban city folk countrymen.
Problem is these property developers were building higher end homes, and not building the affordable homes these rural migrants will need
In China
Owning a home in the city you migrate to? Affects your employment, health, education and even marriage prospects don’t have a house you don’t get married
Thus the common prosperity push and the crackdown on the overt displays of wealth in China
Their Government probably figured out you disenfranchise the people at the bottom of your society they are the ones most likely to act out in protest
@will: name the city and the store name, otherwise you're just talking bs.
It show this person never been outside his home!!
spending time in China town is not the same as being in China, despite what Fox news told you
I like the podcast, but can you find a better English speaker than Thomas? The accent is a bit halting and I'm Chinese myself.
I agree
I’m American and I can clearly understand Thomas. He is not the issue.
@@AlvinFan1976 they'll find out soon enough
為減輕中美貿易戰帶來的負面影響，印尼計劃對中國商品徵收高達200%的進口關稅。據外電報道，印尼貿易部長祖爾基弗利哈桑（Zulkifli Hasan）上周五表示，印尼將對從鞋類到陶瓷等進口產品徵收100%至200%的保障性關稅，重啟保護國內產業的計劃。
哈桑解釋，由於貿易戰導致中國出現供過於求的情況，中國產品遭到西方國家拒絕後，被迫轉向包括印尼等其他市場。他說：「美國可以對進口陶瓷或服裝徵收200%的關稅；我們也可以這樣做，以確保我們的中小微企業和行業能夠生存和發展。」
🤣🤣🤣
印尼会从中国进口鞋类和陶瓷？不都是中国在印尼建厂然后向外出口么，印尼加争中国关税是准备学鸦片战争之前的大清？
@@xuli3961
你以為大陸係八國聯軍呀？印尼仔一加就百份之二佰，吹咩！
@@Hkchinese888 以你反华魔怔人的智力估计是很难理解了，乖一点就简单给你解释一下吧。印尼愿意加200%还是10000%都可以，因为无论什么数乘上零还是零，中国向印尼出口的鞋和陶瓷量太小了趋近于零，印尼这种演给美国看的行为估计美国人都会觉得搞笑。例如加征鞋进口的关税，那把一双鞋分成鞋面鞋帮鞋带出口到印尼，然后找当地民众打胶就变成一双整鞋，这么做甚至可能比原来直接出口鞋赚的更多。反过来说，虽然你历史大概学的不及格以至于分不清鸦片战争和八国联军侵华两件事，但至少还应该知道鸦片战争参与者有英国和大清两个国家吧。鸦片战争的起因是什么，是英国向大清倾销鸦片和工业制成品等商品，大清采取了制裁措施，但是对于自身和对方之间的实力差距估计过低，最终被军舰敲开大门，被迫签订不平等条约。而印尼此刻与大清相似之处在于错误估计了形势，虽然现在是文明世界中国更倾向以德服人，但对于印尼这种体量的国家甚至不需要军舰开到门口，后面印尼国内就会发生一些有趣的事情了。
Cut the housing price, cut the mortgage rate, making thing affordable to all consumers.
Cutting mortgage rates will only increase housing prices just like back in 2021 where things were selling over asking price, we’re in a tough spot right now unfortunately
Not earning enough social credit scores working in sweatshop factories?
I think Japan and asia is watching their budgets more closely
That's why Taiwan need keep democracy forever
Anytime someone say the word democracy, freedom, I quickly know, it's NED bot.
tsmc has moved out to US, leaving behind the employees back on the Chinese island