Are Chinese Consumers Moving from Spending to Saving?

(jingdaily.com) - China is facing slowing economic growth, and the continued trade war with the U.S. has created a potentially tricky situation where consumer prices could shoot up while businesses’ profit margins decline. As challenges mount, the government has implemented stimulus measures (tax cuts, loans, etc.) to help increase spending, but Chinese citizens are instead becoming frugal, moving farther and farther away from the extravagant spending of years past. And while the luxury industry has recently become dependent on China’s younger, label-obsessed consumers, the high-end segment remains vulnerable to changes coming from Beijing.