Different culture. Majority of their cars are bought in cash and they don’t like to finance. Their housing market went tits up. Studies have shown positive housing assets help drive spending up while opposite happens. Also they don’t know if they’re gonna go right back into quarantine and have no income.
10k jobs added instead of 1.1 mil from March to June.
UTletigre t1_j69gokl wrote
Reply to $2.5t spending potential held by Chinese consumers if reopens fully. by Infamous_Sympathy_91
Different culture. Majority of their cars are bought in cash and they don’t like to finance. Their housing market went tits up. Studies have shown positive housing assets help drive spending up while opposite happens. Also they don’t know if they’re gonna go right back into quarantine and have no income.