Again, the fact that China’s urban population has only just surpassed its rural equivalent is an important consideration. Zooming in – In a way, it also depends on what this generation of young parents imbue their young with to keep up the next leg of China’s revival. The current generation X and Y retain the lineage of the family-centric worldview of consolidation and growth. When they spend its often with family at the forefront of major decisions.
A pal of mine foots a huge bill raising his daughter in Chengdu. With his wife they make a decent living but raising a child in the urban centers becomes possible only by extended family effort. On top of that, the scarcity of experienced healthcare staff make a grim overview to what should otherwise be a great time to raise a child along with China’s step up. The price of everything has gone up, impacting all demographics.
Along with the optimism, perhaps certain teething problems can be addressed and sorted out with this crop. The root of what others often misunderstand is to the Chinese, a simple act of reciprocating to benefactors and family. It will be hard to go away. The form may change, but the function remains.
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Can China’s middle class spend the world out of recession?
By John Sudworth
Source – BBC News,
published 19 June 2013
Meet the Zhangs, one of China’s new middle-class families who some economists believe are going to spend their way to a revival of the global economy.
Zhang Dongyang runs his own construction company in Zhengzhou, one of China’s fastest growing cities.
His wife, Zhang Min, is a hospital administrator, and together they earn about $40,000 (£25,000) a year.
My parents didn’t even have enough to eat, and enough to eat, and weren’t that keen on children’s education. We can afford almost anything we want” Zhang Min, Hospital administrator
They own their own apartment, mortgage free, drive a Japanese-made Lexus car and will, they say, soon start taking not one, but two holidays a year.
Their six-year-old son, Zhang Zhiye, attends a private school.
“Yes I do feel middle class,” Mr Zhang tells me, adding that it’s now become acceptable to admit it.
“People who are more capable rise to the top. This is natural. It is the survival of the fittest.”
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