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This post was edited by Everynowhere at 2012-12-3 00:19|
Since many young Chinese use almost all of their salaries in personal consumption and save little, why our economists still assert that China's personal consumption is still low?
I guess you've answered this question yourself, with the follwoing statement:
That is to say, many young Chinese have consumed most of their income already. However, the weight of consumption is still low in our GDP.
I guess most economists just look at the numbers.
The next question, however, would be how accurate those numbers are. Consumption numbers are computed by simply looking at the VAT earned by the government, calculate the according total consumption revenue and compare it with the GDP. However, in smaller cities and on country side, many stores don't pay VAT - so the real consumption level might, as you suggested, be much higher indeed.
To become richer, however, China will have to produce more. Only production raises the GDP (which is already obvious if one considers what GDP stands for: gross domestic product). And every day, the Chinese people learn a little more about their work and improve their mindset. And every day, capital is invested to buy better tools and build better factories. So China produce a little more, everyday - and is therefore becoming richer over time. 慢慢来！
So perhaps you should drop the big picture and consider your own situation more. How could you become more productive? What is stopping you from starting your own business?