$1.80 dinners and budget clothes? The spread of frugality is hurting China's economy
$1.80 dinners and budget clothes? The spread of frugality is hurting China's economy
Chinese consumers have become increasingly frugal. Experts say that's bad news for the country's economy.
It's disturbing how much the global economy depends on us buying shit we don't need.
57I guess if we as humanity focused on producing only high quality and essential, basic products (food, housing, clothing) + the tools and processes that we need in the supply chain, we could massively reduce labor and reduce our ecological footprint at the same time. But our current economical system is depending on everyone doing something, everlasting growth and consumption.
29Here's an example on the bigger items: I bought a used car that was 4 years old when I bought, I've since owned it for 14 years, so it's 18 years old. Yes its starting to fall apart and I should probably buy a new one soon, but in the timespan that I've owned a single car, my brother has bought and sold something like 7 cars.
Just the shear amount of stuff I see people buying around me all the time, is insane.
12I tend to run vehicles until they die as well, but that's mostly because kayaks and mountain bikes are far more interesting.
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Disgusting title, ofc the economy (specific sector) "crashes" (="growth diminishes", still as profitable as before) when post-scarcity is achieved, but only financially speaking.
Also production at a level where there is enough of something for everyone was the goal (right???), be happy when it's achieved, dont listen to the propaganda of the few who profited in the process.
7Yeah. That was the goal. Totally! Definitely wasn’t to maximize profits for the 1% and consolidate societal control. Don’t even give that a second thought. Now if I’m not mistaken someone’s burgers need flipping.
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