One of the trademarks of China’s economy is its weak domestic consumption. This problem has been exacerbated by high unemployment. After three years of COVID-related lockdowns, ordinary people don’t have money to spend, and affluent Chinese spend less. The slow recovery of holiday spending further confirms this trend. So what has caused China’s abysmal domestic consumption? How does it compare to the consumption in the United States?
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References:
https://finance.sina.cn/zl/2023-01-11/zl-imxzuxpn2228990.d.html
https://zhuanlan.zhihu.com/p/606749973
https://www.epochtimes.com/b5/23/6/26/n14023104.htm
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