Jason Smith - 上官杰文(@ShangguanJiewen):No. That is not correct. It's a misinterpretation of the facts through the use of a selective choice of statistical data. In the year 2000, average national wages were 11,897 CNY/year and the savings rate was about 40% for the average Chinese adult. In the year 2014, average national wages were 57,400 CNY/year and the savings rate was about 40% for the average Chinese adult. In the year 2025, average national wages were about 129,000 CNY/year and the savings rate was about 40% for the average Chinese adult. People's consumption habits are the same portion of their income, but they just keep making more money. This is NOT a crisis. This is a milestone of economic success. Those are called facts.

Jason Smith - 上官杰文

@ShangguanJiewen

An American Journalist in China, Published Author, Radio Show Host & Media Commentator. This is my personal account and all opinions are my own.

Joined October 2021

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Jason Smith - 上官杰文@ShangguanJiewen

2026.06.16 08:17

No. That is not correct. It's a misinterpretation of the facts through the use of a selective choice of statistical data. In the year 2000, average national wages were 11,897 CNY/year and the savings rate was about 40% for the average Chinese adult. In the year 2014, average national wages were 57,400 CNY/year and the savings rate was about 40% for the average Chinese adult. In the year 2025, average national wages were about 129,000 CNY/year and the savings rate was about 40% for the average Chinese adult. People's consumption habits are the same portion of their income, but they just keep making more money. This is NOT a crisis. This is a milestone of economic success. Those are called facts.