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schizoidman@lemm.ee to Not the Onion@lemmy.mlEnglish · 8 months ago

$1.80 dinners and budget clothes? The spread of frugality is hurting China's economy

www.latimes.com

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$1.80 dinners and budget clothes? The spread of frugality is hurting China's economy

www.latimes.com

schizoidman@lemm.ee to Not the Onion@lemmy.mlEnglish · 8 months ago
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Chinese consumers have become increasingly frugal. Experts say that's bad news for the country's economy.

cross-posted from: https://lemm.ee/post/45792214

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  • Diplomjodler@lemmy.world
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    8 months ago

    First you steal peoples’ money in endless real estate Ponzi schemes. Then you act surprised that they don’t have any money left to spend.

    • davel [he/him]@lemmy.ml
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      8 months ago

      It is not the Chinese working class is who is getting soaked by those, it is foreign and domestic capitalists.

      • Reuters: China Evergrande ordered to liquidate in landmark moment for crisis-hit sector
      • Bloomberg: China Reiterates Stance That Homes Are Not for Speculation
      • CNBC: China’s housing minister says real estate developers must go bankrupt if necessary

      .

      “We will scale up the building and supply of government-subsidized housing and improve the basic systems for commodity housing to meet people’s essential need for a home to live in and their different demands for better housing,” an English-language version of the report said.

      • Shiggles
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        8 months ago

        I’m definitely going to trust a .ml on a topic about the Chinese government

        • CommanderCloon@lemmy.ml
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          8 months ago

          Le big tankie Bloomberg and evil stalinist CNBC

          I would tell you to go back to your echo chamber but if you don’t even trust sources from pro-capitalist, pro-west sources, just because a “tankie” sourced it then you’re way too far gone for any form of discussion

          • Shiggles
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            8 months ago

            Oh no! More .ml comments to shame me!

            Let me be clear - I will not, ever, believe anything, anywhere on Lemmy, anyone tells me about the Chinese government. I don’t even think you’re necessarily in the wrong in this particular instance, it’s just not even worth considering it.

            • davel [he/him]@lemmy.ml
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              8 months ago

              Such a principled stance. You should add that to your profile.

              • JamesStallion
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                8 months ago

                I remember you making a pretty impassioned case that discussion and the marketplace of ideas are not useful Davel. This is what that attitude looks like from the other side I guess.

        • TheOubliette@lemmy.ml
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          8 months ago

          Absolute baby behavior

        • davel [he/him]@lemmy.ml
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          8 months ago

          Amazing. Even Western corporate media articles magically transform into $evil_country propaganda when posted by le evil tankies.

          🍆 ✊

          • reagansrottencorpse@lemmy.ml
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            8 months ago

            You have a lot of nerve being well informed pal!

  • imapuppetlookaway@lemmy.world
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    8 months ago

    This is an old story, except for the LA Times. The guy on Money and Macro explains the situation better in this vid: https://www.youtube.com/watch?v=7bOSWQttmvU

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