Week 12 Online Activity(11/10)Due by midnight

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A consumer paradigm for China

回答问题 Either in Chinese or English

  1. 中国的消费者有哪些特点?
  2. 中国人为什么喜欢存钱?

Please post your answer here. Due by midnight

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9 thoughts on “Week 12 Online Activity(11/10)Due by midnight

  1. DongGon Lee

    1. 中国的消费者有哪些特点?

    China has the lowest consumption-to-GDP ratio of any major world economy. These days, Chinese people earn more money than before due to the economic growth but they don’t spend as much as they earn. Thus, even though GDP is one of the highest in the world, but the consumption is comparatively low.

    2. 中国人为什么喜欢存钱?

    Chinese people like to save money because they lack adequate health insurance and can’t count on government or employer-sponsored programs to provide for them in retirement. Thus, they save the money to prepare for the future themselves not relying on government or retirement programs

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  2. Jessica Sewell

    1.中國的消費者有哪些特點?
    Generally speaking, the Chinese population are reluctant consumers and very fiscally conservative. A large possibility for this reluctance is due to the fact that the Chinese government lacks adequate healthcare and pension funds so the typical consumer would rather over save and under spend to avoid future fiscal disadvantages. Chinese consumers also tend to have less credit debt.

    2.中國的消費者有哪些特點?
    A large part of Chinese culture is family. With the cost of college in China being typically half the amount of the average income, college is less affordable. With college being less affordable and education being valued highly in China, families tend to save money. The family value most important to the Chinese is that their children have a better life than they do. And with that in mind, we see families choosing to save money rather than spend with haste, making Chinese consumers fiscally conservative.

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  3. Mia Naslund (吴咪雅)

    1. 中国的消费者有哪些特点?
    Overall, Chinese consumers are discouraged from spending: China has the lowest consumption-to-GDP ratio in the entire world. The structure of the government has focused on more industry-scale investments and exports. Because there is a very small percentage of the country’s national income, the government discourages consumer spending and prioritizes investments.

    2. 中国人为什么喜欢存钱?
    The Chinese in general have the highest rates of saving versus other countries. The reason behind this is because healthcare and education are costly relative to an average family’s income (college can take up to half of their total income). This turns consumers away from private spending because they do not feel secure about their healthcare or ability to send their child to college.

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  4. Minseok Park(朴珉奭)

    1. 中国的消费者有哪些特点?
    Even though the private consumption reached the world’s fifth largest consumer market, China is placed almost the lowest in consumption-to-GDP ratio(36%). This is due to the country’s households having an extraordinarily high ability to save. Moreover, many consumers balance their savings and borrowing in the aggregate, not by individual products, and this ultimate product balance remains determined in China.

    2. 中国人为什么喜欢存钱?
    Chinese consumers tend to save money because they lack adequate health insurance and can’t count on government- or employer-sponsored programs to provide for them in retirement. Similarly, concerns about financing the cost of a university education leads to China’s saving. Also, even though the local government provides for primary and secondary education, most of the Chinese households hope to send their children to colleges, where costs are higher than the average income of Chinese households.

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  5. Maggie Wang

    1. Chinese consumers are very conservative with spending; with the exception of Saudi Arabia, China has the lowest consumption-to-GDP ratio of all major world economies. Chinese consumers have a penchant for saving and rarely make purchases on credit.

    2. Chinese people save about 25% of their discretionary income. Culturally, Chinese people are just very frugal — they have a vastly different mindset from consumption-oriented Americans, for instance. Furthermore, China has an inadequate welfare system, so Chinese citizens take it upon themselves to be financially prepared for any personal issues. And there just aren’t a lot of goods and services available at a fairly low price to Chinese people.

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  6. Amy Zau

    1.中国的消费者有哪些特点?
    Chinese households have a high tendency and ability to save money, rather than spend it–the average Chinese household saves 25% of its discretionary income. Because consumers are not spending as much, private consumption makes up a relatively small portion of the nation’s GDP.

    2.中国人为什么喜欢存钱?
    Chinese consumers lack adequate health provisions from the government, so they save money to provide for themselves a sort of safety net to fall back on when all else fails. Additionally, prices remain too high for low-class citizens. In addition to medical expenses and retirement fees, most Chinese households hold college tuition as a motivation for saving their money.

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  7. ziyu wang

    1、中国的消费者有哪些特点?
    China has the second lowest consumption to GDP ratio of any major world economy. Chinese consumers are not willing to spend too much money on consumption. Instead, Chinese people prefer to save money because China’s savings rate is much higher than that of other countries in the region.
    2、中国人为什么喜欢存钱?
    Chinese people lack adequate social welfare programs so they have to save money for future medical spending and spending in retirement. Also, Chinese people are reluctant to make purchases on credit, as mortgages and loans are not widely available. Another reason is that Chinese households want to send their children to colleges, but the cost of a college education is nearly the half of the disposable income of an average family.

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  8. Vinh Quach (郭文恩)

    1.中国的消费者有哪些特点?
    The amount of income Chinese consumers have available to them is about 56% of the National income, which is much smaller than the more than 70% in the US. Of the small amount of relative income that Chinese consumers have, few are willing to spend the money with a private consumption at 36% of GDP in 2008. In comparison, the United States has a private consumption rate of 71% of GDP.

    2.中国人为什么喜欢存钱?
    Chinese people like to save money because of problems with health care, retirement funds, access to products, credit, and funds for university education. Chinese people save 26% of their income because of these issues. Large industrial firms are the recipients of credit and loans from Chinese banks, because of this few Chinese consumers have access to credit that could buy them houses, cars, and other large ticket items. Government programs to fund University education are also not adequate, only 10% of students utilize the financial aid program in a country where education costs half of the average family’s disposable income.

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  9. carterfeldman

    1. 中国的消费者有哪些特点?
    Customers in China spend a smaller percentage of their disposable income, and save a much higher percentage as compared to other countries. Chinese consumers are also unique in that their incomes only equal up a small fraction of the GDP, as large state run industries suck up most of the money as I (I = the Capital Investment component of GDP). In addition there is the issue of devaluation of the Chinese RMB by central monetary authorities. This decreases buying power and increases exports, meaning that consumers are relegated to a secondary role in the economy.
    2.中国人为什么喜欢存钱?
    Chinese people like to save money because it functions as an insurance policy against a combination of old age, disease and as a mending agent to fill in the large gaps in the public safety net. In addition to the “rainy day” motivation for saving cash, Chinese parents also often save cash in hopes of one day being able to afford to send their kids to college or buy a house, as loans for both are generally offered to those who already have considerable capital due to the inferred (and yet not necessarily true) high risk of default for low income chinese workers.

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