Why is China’s domestic consumption so abysmal?

One of the trademarks of China's economy is its weak domestic consumption. This problem has been exacerbated by high unemployment. After three years of COVID-related lockdowns, ordinary people don't have money to spend, and affluent Chinese spend less. The slow recovery of holiday spending further confirms this trend. So what has caused China's abysmal domestic consumption? How does it compare to the consumption in the United States?

******************
We discuss world economy, history, and politics. Our main focus is U.S.-China relations. We make short videos and tell you the hidden stories.
******************
References:
https://finance.sina.cn/zl/2023-01-11/zl-imxzuxpn2228990.d.html
https://zhuanlan.zhihu.com/p/606749973
https://www.epochtimes.com/b5/23/6/26/n14023104.htm

******************
🔔 Subscribe for updates: https://www.youtube.com/c/LeisRealTalk​​​
******************
🔵 Make sure to share this video with your friends!
Follow us on our Website: https://leisrealtalk.com/​​​​​​
Follow us on Twitter: https://twitter.com/LeisRealTalk​​​​​​​​
Follow us on Facebook: https://www.facebook.com/leisrealtalk​​​
******************
MORE VIDEOS:

The tangled web of the CCP's wars, Part I - the Korean war
https://youtu.be/5lbKtmzK24w

How the Sino-Vietnamese war helped China kick-start China-US relations and economic reforms
https://youtu.be/4RbpxcJ2mwE

A China expert explains when economic crisis will bring down the Chinese regime
https://youtu.be/LCAevZOqSWg

What made Xi Jinping break a PLA tradition - COVID or a Chinese military strategy?
https://youtu.be/NfLwZrOm3Gc

The West's costly China misconceptions (1): When in China, do as the Chinese do
https://youtu.be/nbEUxezFmc8

The West’s costly China misconceptions (2): Don’t criticize China, Chinese people or the CCP
https://youtu.be/PnNgGo1VJw8

******************
OUR PLAYLISTS:

China vs USA
https://youtube.com/playlist?list=PL98Y1OoA0uGtDvlyEQ231z5PJLs7snLuO

Chinese military & Taiwan Strait Crisis
https://youtube.com/playlist?list=PL98Y1OoA0uGu8WVZj7g6u_px_RpEkG860

Lei's live stream, Q&A
https://youtube.com/playlist?list=PL98Y1OoA0uGtg8RRtgyOb-mmN9HNLz501

Sports, Entertainment & Politics
https://youtube.com/playlist?list=PL98Y1OoA0uGt_zAVI54lLhhL856BmfNZB

The Chinese Economy
https://youtube.com/playlist?list=PL98Y1OoA0uGuTBnYVwm9E6ox9JfuKq7La

Chinese politics, military & Taiwan Strait
https://youtube.com/playlist?list=PL98Y1OoA0uGvu8EipiunU_uNcys0Hd6lb

CCP politics & factional wars
https://youtube.com/playlist?list=PL98Y1OoA0uGvu8EipiunU_uNcys0Hd6lb

The CCP history, communism & West's misconception
https://youtube.com/playlist?list=PL98Y1OoA0uGs6zlt9WucXpycJIq00SQ8U

American politics, society and people
https://youtube.com/playlist?list=PL98Y1OoA0uGucIaJJbZu5iZY6Myk1frea

International relations & Geopolitics
https://youtube.com/playlist?list=PL98Y1OoA0uGvB4t7rwpt1KG6ey-Bpx9pL

China, Chinese society & People
https://youtube.com/playlist?list=PL98Y1OoA0uGuulXrksi9OPb01FHp3DsYe

Wall Street, Financial Markets & Investments
https://youtube.com/playlist?list=PL98Y1OoA0uGslyrjGWNOaZ3Y_g1Bh5uTL

Media, Consumer Brands & Market
https://youtube.com/playlist?list=PL98Y1OoA0uGvcRGZsVQbSjxXRJHgEQ9I_

Semiconductor & High-tech
https://youtube.com/playlist?list=PL98Y1OoA0uGtWv2FxpVCZzlXu6EJ47GeS

Chinese Population and labor Market
https://youtube.com/playlist?list=PL98Y1OoA0uGviHfTIliMHeR3WTTgZn5Wt

Lei's Favorites
https://youtube.com/playlist?list=PL98Y1OoA0uGtu0QnHKwoT-iXD-wWxIfal
********************
#leisrealtalk #economy #consumption #money #consumer