Problems brought by consumerism in China
Most economists assert that China’s rising consumerism will have an effect in almost all parts of the world. The United States will be particularly affected by this issue owing to the fact that different parts of the Stock market have to take these issues into account. For instance, treasury bonds sales are affected by China which currently accounts for a huge chunk of US debt (approximated at one hundred and eighty dollars) besides this, the US economy has to take into account some of the costs of goods and the interests rates that companies in the country have to tackle because of the goings on in China’s market. (Edmund, 2006)
Many experts assert that the growing consumerism within China is not a common trait in all cheap lacoste shoes parts of the country. Certain provinces such as Ningxia are subsistence based as most of them may not have the money or the ability to buy some of the luxury items that other provinces can afford. In fact, this pattern has been repeated in so many other areas in China.
The urban areas are largely populated by many high income workers and this group is what makes up the consumer market. However, rural areas (which account for a large portion of China) are not in a similar position. Experts claim that the rising consumerism in China could lead to greater disparities between the rural poor and the urban rich. This may impede the overall development of the country. (Li, 2008)
Many environmentalists also claim that there may be problems with China’s rising consumerism especially because more expenditure means more global resource depletion. The following issues have been brought out as issues of concern by these conservationists