indeed.. here's useful graphic to help put 400M 'middle-class' into context..pic.twitter.com/If4bRRCaOh
As 400 million Chinese entered the middle class, they experienced profound consumption upgrades. Now some of them started to worry that the go-go days of economic expansion and wealth generation might be coming to an end.They’re cutting back.Latest from mehttps://www.nytimes.com/2018/08/22/business/china-consumer-downgrade.html …
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The less you own,the less that owns you.
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The latest scam involves renting: companies that re-rent houses, increase prices 30%, make users get a bank credit for a year to rent and use the money to lure more landlords in. Even renting doesn't save you anymore in a big city.
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A growing middle class was one of the main drivers of political stability in China. Many were living large by living at home. If that's no longer enough to sustain the lifestyle then the economy is in for a tough haul.
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China in hurry to modernize and developed nation but unfortunately as they progress consumption become higher food production cannot compete with bulging middle class and farm land converted housing projects for quick profits and source of cheap manufacturing hub is big headache.
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Some decent inside over reality, great commentary
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Would like to see Mainland Chinese embrace a more minimalist http://lifestyle.It is not about rich/poor/upgrade/downgrade.生活素质的提升很多时候是不需要用金钱换回来的。多想想什么是社会责任，多爱护地球。
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Unfortunately minimalist IS a lifestyle for rich or at least middle class. Do poor people understand what it means?
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The loosers are not same with winners who gain more from booming of the economy . The world is like a casino and always the house wins , banks and elites . We vote to sustain this system just with hope that we will have a flush royal in a day
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China with its ghost cities has been living in a utopian fantasy dream that has created a false illusion of wealth for all Chinese and is about to crash and bring down its economy.
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