China awakens to its domestic market

By: Baptiste FALLEVOZ
1 min

The Chinese, particularly the poor rural population, are notoriously bad consumers. What little money the do earn, they tend to hoard. It's bad news for a government desperately trying to distance itself from an export-driven economy and move to a more consumer-orientated one. In an effort to promote spending, government-backed subsidies on a range of goods are starting to encourage those who wouldn't normally splash out.