Has Covid-19 Ended China’s Consumption Boom?
As China continues to recover from the Covid-19 crisis, some experts expected to see a strong consumption rebound in recent weeks. However, it didn’t happen. Instead, the amount of saving in the first quarter of 2020 surged in China. Many Chinese, including the post-’90 and post-’00 generations who are used to living paycheck to paycheck, have started to save money. Seemingly, the global pandemic has changed many families’ and individuals’ consumption habits and lifestyles — at least in the short term.
For this episode of the Wǒ Men Podcast, our three co-hosts share their different views on consumption and money-saving and how Covid-19 has changed their outlook when it comes to personal finances.