A Better Life? The Wants And Worries Of China's Consumers
One of the legacies of the 2008-2010 global financial crisis has been a new focus on the latent power of the Chinese consumer. As demand in the United States and Europe has waned, exports have weakened as an engine of China's economic growth, and Beijing has turned its attention to stimulating domestic demand. In parallel with its Rmb4trn (US$590bn) stimulus package, the Chinese government began offering vouchers in 2009 for appliances, furniture and even cars to encourage consumers to open their wallets.