Name: Consumption Collapse in Shanghai and Beijing: What’s Really Happening? | Videos | Gan Jing World - Technology for Humanity | Video & Movie Streaming
Uploaded: 2025-05-01T00:12:23.168Z
Duration: 13 min 6 s
Description: Consumption Collapse in Shanghai and Beijing: What’s Really Happening? This narration examines the ... | Videos | Gan Jing World - Technology for Humanity | Video & Movie Streaming

Digging into China

https://video5-us-east.cloudokyo.cloud/video/v12/bb/1b/ef/bb1bef71-6ada-49ca-9499-9c38ad88eb45/master.m3u8

Consumption Collapse in Shanghai and Beijing: What’s Really Happening?

This narration examines the declining consumption trends in Shanghai and Beijing, China’s wealthiest cities, based on their first-quarter 2025 economic data. Despite the National Bureau of Statistics reporting a 4.6% national retail sales growth, local data reveals a 3.3% and 1.1% decline in Beijing and Shanghai, respectively, with March showing sharper drops. The analysis highlights discrepancies in national data, inflated by lowered baselines and original price calculations despite trade-in discounts. A shift in consumption patterns, driven by pre-Lunar New Year promotions and reduced job opportunities, has weakened March spending. While gold consumption surges in Beijing, other categories like automobiles and catering decline. Subsidies for electronics and appliances show limited impact, reflecting deflationary consumer behavior. The divergence between national and local data raises questions about the reliability of reported national consumption growth, amid economic challenges like unemployment and trade tensions.

0:00 Intro
0:07 Unmasking the Consumption Crisis in China’s Megacities
1:16 Local Data Tells a Different Story
2:05 A Tale of Two Cities’ Spending Slump
3:12 The Lunar New Year Shift
4:04 Why the Spending Shift Happened
5:12 A National Data Disconnect
6:21 Dissecting Beijing’s Consumption Trends
7:45 Subsidies Fail to Spark Spending
8:59 Shanghai’s Unique Spending Habits
9:30 The Illusion of a National Consumption Boom
11:27 Subsidies as a Short-Term Fix
12:04 Even Local Data Hides the Truth

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