Article Image
News Link • China

Chinese Youth Dangerously Drunk On Debt As Grandparents Roll In Graves

• by Tyler Durden

And according to the Journal's Stella Yifan Xie, Shan Li and Julie Wernau, this boost in consumption couldn't come at a better time for the Chiense economy. 

While previous generations were frugal savers—a product of their years growing up in a turbulent economy with a weak social safety net—the more than 330 million people born in China between 1990 and 2009 behave much more like Americans, spending avidly on gadgets, entertainment and travel. -WSJ

The result? China's economy is receiving a much-needed diversification at a critical juncture - mainly amid pressure from a tariff-driven slowdown thanks to the Trump administration. Beneficiaries of the spending glut include Alibaba Group, Tencent Holdings, and other tech companies according to the report.

Join us on our Social Networks:


Share this page with your friends on your favorite social network: