China's middle class is starting to look a lot like America's

China's middle class is starting to look a lot like America's, and that's not a good thing

İnsider Asia, China

12/7/2021 7:50:00 AM

China 's middle class is starting to look a lot like America's, and that's not a good thing

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the title to Canada in 2019).While real estate is important for wealth-building in both the US and China, the role homeownership plays in each country is not comparable."The role of real estate for wealth and social standing in China is significantly different than it is in the US. If you don't have a house, you're not going to get a wife," Zenglein said of China. In China, 70-80% of household assets are

tied to real estate, which is higher than it just about any other developed country. The US-China similarities are also not uniform throughout China; instead, they're prominent mostly in China's developed, urban centers — cities like Shanghai, Shenzhen, and Beijing. As Zenglein put it, it's"the biggest winners of China's economic success that are starting to look more like the US middle class."

That said, the resemblance between the two is strong, and it's stronger than it's been before.Wright said there are growing risks to the economy and standards of living in China if theproperty sector starts to weaken considerably:"If housing is still people's primary asset, even if they're borrowing in order to engage in the housing market, that's going to have an implication for whether people feel or act like middle class as well."

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"It's not a one-to-one match," Zenglein said of the US and China middle classes,"but it's getting into an area where the similarities are increasing."Sign up for notifications from Insider! Stay up to date with what you want to know.

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And US still think islam is the enemy 😂😂 CebongVirusNKRI China has a middle class? Lol China has already started to re-socialize the country and rein in capitalism that has slipped into their way of life. why did i open the link and all i saw is unrelated news ? 🥱🥱🥱 Copycats 中国的中产阶级开始变得和美国很像,这不是一件好事

Stop pretending China is as screwed as the U.S. They are clearly moving up faster then we are despite the U.S. attempts to collapse their economy AND delist their stocks. 10 years ago. There is no 'middle class'. I am not sure there is enough room in China for this kind of neighborhood. this is terrible news

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