American Economics Thread
- Thread starter Bernard
- Start date
The value of goods sold is higher in Black Friday. China has to increase its middle class and have income growth. Otherwise it's going to be competition of Size vs pocket depth.
You got a quotation for that?
On November 11, 2021, Chinese consumers spent on average 272 yuan (43 usd) per order during the Singles' Day sales, showing a steady increase over the past years.
For Black Friday, Shoppers purchasing for the first time spent an average of $130, while shoppers purchasing for the second time spent $117. Third time shoppers spent $124 and fourth time shoppers spent $121. An Average of around 120 usd.
Averages out after purchasing power parity and per capita income. Chinese per capita income still a few times lower
The average price per single order may not be directly connected to purchasing power. Even though average price is lower, a typical Chinese consumers might order more items online. This could explain why Chinese online sales is much bigger than US sales. Recent double 11 is seven time that off Black Friday.
"*insert harsh truth about the US economy* BUT this is ackshually good" - Western propaganda.
Ironically, when they are trying to blow Chinese problems out of proportion they do China a great service - the government can feel pressured to take a look at the underlying problems. While Western propagandists giving blowjobs to Biden at every turn creates a false sense of security for the US government like that "this is fine" meme.
Future of the US.... and the future of China.
They need to hike the rmb by 5% per year, that would increase the buying power.