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China’s Consumer-Led Growth Looks More Like a Bounce, Not a Recovery

Por: MarketWatch Business April 22, 2023

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But some doubt a longer-term consumer-fueled recovery. While the wealthy can spend on luxuries, most consumers aren’t buying big-ticket items like travel or cars, says Shehzad Qazi, managing director at China Beige Book. Qazi says consumer spending has never sustainably driven growth in China, and it’s unlikely to this year. Weaker inflation highlights companies’ lack of pricing power, and youth unemployment at 19.5% is near pandemic... + full article



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