Part 10/12:
The Human Factor: Young Consumers and Employment
Amidst these macroeconomic shifts, China’s youth unemployment rate remains alarmingly high at over 20%. Young consumers, like Lee Yuun, face limited job prospects and maintain cautious spending habits, preferring savings and low-cost domestic goods.
In this climate, consumer behavior reflects a wait-and-see attitude, with retail sales growing minimally and households increasing savings to prepare for uncertain economic conditions. Despite government efforts to stimulate consumption, economic nerves and deflationary expectations inhibit a robust recovery.