Western economists keep crying about “low consumption” in China.
What these geniuses don’t realize – or purposely hide – is the real reason: China has low cost of living.
Like $1000 a year to attend the best university or $300 a month for rent in Tier 1 Chinese cities.
If you have an economy where it costs $30,000 a year to go to college or $2000 a month for a 1-bedroom apartment, it’s not something to be proud of.
https://i.redd.it/kpqfs7ex0ylf1.jpeg
Posted by wakeup2019
4 Comments
Low consumption in China is the reason they have so many newly built residential complexes rotting away vacant and unused. The centrally planned building push failed to gauge demand capabilities.
Oy Mr. Genius, next time read the arcticle, don’t pull a chart from twitter and bitch about it.
Chinese consumption is low due to a form of reluctance of chinese: real estate market collapse…The gouvernment reacted in this ways: way promising aid for chilcare, salary increases, better paid holidays.. and a plan of $41 Billion consumer assistance program…they are on the way to improve the situation
Hello mr chinese propaganda account! Its been awhile.
This is a great indicator of how much the government props up the chinese economy.
The chinese standard of living for the average Chinese citizen is also much much lower, but you wont catch OP talking about that.