Young Chinese Get Thrifty in Gloomy Economy

Sunday, March 1, 2009 8:08

An interesting clip for the times.

Wong, a young professional who used to feel comfortable spending his monthly earnings on taxis and date nights, has set up a club of 100,000 followers who are looking for ways to save money as well.

Some may think that luxury sales are the story, but given China has always been about the markets and the middle and bottom, I would say that this story is one that you should follow. If nothing else, remember that while 20 million migrants are out of work, and 3 million graduates are expected to join the ranks of the unemployed, it is people like Wang that many analysts were banking on.

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