Summary
China’s Gen Z is increasingly focused on saving rather than spending, fueled by economic uncertainty, high youth unemployment (15.7% in late 2024), and job insecurity.
Social media platforms feature viral content on frugal living, reflecting a shift from the “moonlight generation” of free spenders.
Economists warn this trend, tied to pessimism after COVID-19 and crackdowns on private sectors, threatens domestic consumption and long-term economic growth.
Disinflation and declining mid-priced product demand are expected, as China’s GDP grew 5% in 2024 but faces slower growth ahead.
Billionaires and their puppet governments get scared when people decide they don’t need to buy tons of useless shit to be happy.
B-b-but muh profits!