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> This means there's very little for consumers to spend their money on versus a US consumer. How does this line up American consumers spending a large percenta
by coryfklein 3y ago
> This means there's very little for consumers to spend their money on versus a US consumer.
How does this line up American consumers spending a large percentage of their money on products built in... China? Surely the Chinese products available to Americans are also available to the Chinese? I have to imagine they are orders of magnitude cheaper in China too given the drastically lower cost of shipping and warehousing.
- nradov 3y agoShipping and warehousing only accounts for a tiny fraction of the cost of most consumer products. It's hardly an order of magnitude difference. Chinese consumers can buy pretty much the same products as Americans (with a few limited exceptions such as weapons and narcotics). But they tend to save more on a percentage basis. Some of this is cultural. But mostly it's a practical reaction to a lack of a social safety net. Even though China is nominally communist, as a practical matter most consumers have to pay out of pocket for healthcare and retirement hence they save for those things. They also save to purchase residential real estate since it is seen as the only safe store of value and owning a home is somewhat necessary for marriage (at least for men).
- steveBK123 3y agoLenin "He who does not work shall not eat"
- tretiy3 3y agoit was not Lenin though https://en.wikipedia.org/wiki/He_who_does_not_work,_neither_shall_he_eat https://en.wikipedia.org/wiki/He_who_does_not_work,_neither_...