Tag: Consumer spending

Christmas consumption credit cards domestic demand economic downturn economic growth economic recovery Economy financial crisis 2008-2009 financial crisis 2009 globalization Hangzhou health care Hsien Ping Lang London luxury made in China manufacturing Minxin Pei political reform saving savings tourists trade U.S. economy United States vouchers wealth

Are China’s Wealthy Spending Less?

On CNBC, Shanghai-based market intelligence analyst and author Shaun Rein responds to a Wall Street Journal piece published earlier this month which argues that China’s wealthy are losing confidence and spending less, claiming that the piece wrongly defined China’s wealthy class and concluding that fears of a slowdown in China’s luxury segment are exaggerated: To find out how China’s wea