 "Japan, Japan coronavirus,")
China’s cautious consumers offer clues on post-pandemic world
Consumers in China remained cautious even though the Covid-19 outbreak has been under control for much of the past year. That’s offering clues for the kind of spending patterns that emerge globally once pent up demand fades. While China didn’t pump up consumers with stimulus checks, its aggressive control over the virus allowed the economy to quickly re-open and drive real household income growth to 13.7 per cent in the first quarter of this year. Yet the consumer recovery has been weaker than expected with economists identifying two major reasons: an unequal distribution
