Clearly not harming China’s economy. China saw +7.2% consumer sales, +5.9% infrastructure, +6.5% manufacturing, and was dragged down by -9.6% real estate. Those growth numbers are absurd.
The average restaurant lifespan is like 3 years, and malls are emptying around the world because of the rise of ecommerce. These are anecdotes that hold both in good economic conditions and in bad economic conditions. China’s going through a bit of an D2C ecommerce revolution with Douyin (274B USD in the first 10 months of 2023, growing 60% YoY) and others. For reference, Amazon’s sales from their ecommerce platform is around 350B USD for 2023, and its definitely not growing 60% YoY.
Clearly not harming China’s economy. China saw +7.2% consumer sales, +5.9% infrastructure, +6.5% manufacturing, and was dragged down by -9.6% real estate. Those growth numbers are absurd.
That is a meaningless statement to make without a point of comparison. How do you know it wouldn’t be higher if the population was growing.
Also yeah, that’s to be expected, the economic harm comes in the long term.
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The average restaurant lifespan is like 3 years, and malls are emptying around the world because of the rise of ecommerce. These are anecdotes that hold both in good economic conditions and in bad economic conditions. China’s going through a bit of an D2C ecommerce revolution with Douyin (274B USD in the first 10 months of 2023, growing 60% YoY) and others. For reference, Amazon’s sales from their ecommerce platform is around 350B USD for 2023, and its definitely not growing 60% YoY.
Removed by mod