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Video | How China’s belt-tightening affects the world
- Many young people say the change is related to the national response to economic challenges
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What does it mean for the world when Chinese consumers tighten their belts?
What does it mean for the world when Chinese consumers tighten their belts?
Thomas Yauin Shanghai
With slower growth in China’s economy, young professionals and middle-class people around the country are tightening their belts and cutting down on spending.
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The shift has prompted many foreign governments to raise concerns about China forming excess production capacity, and the impact that could have on the nation’s domestic economy, international relations and even life decisions made by Chinese citizens.
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