With the rapid development of China's economy, the living standards and consumption capacity of Chinese people are also constantly improving. According to official data, in the past decade, China's total retail sales of consumer goods have more than doubled from 20 trillion yuan in 2012 to 44 trillion yuan in 2021.
However, even so, there is still a gap from this data in the United States. In 2021, the total retail sales of consumer goods in the United States will be US$7.41 trillion. If China's 44 trillion is converted into US dollars, it will be 6.83 trillion.
The United States, which has a population of only 330 million, has stronger consumption capacity than China, which has a population of 1.4 billion? Why is this happening?
- . The consumption concepts in China and the United States are different.
Americans like to consume in advance and have fun in time. Even if you don’t have money, you have to borrow money to spend. The earliest credit card in the world was created by Americans. If you don’t have money, you can overdraft the bank and pay it back in the future. Because of this, what Americans fear most is unemployment. Once they lose their subsequent financial sources, they cannot repay the bank's money. It is precisely because of this that the financial crisis in 2008 was caused by borrowing money to buy a house, not paying back the bank loan, and eventually harming the whole world.
Chinese people prefer to save money. In 2021, the savings rate of Chinese residents will still be as high as 46%. In China, people who have money in their bank cards but are dressed simply are better off than those who wear brands but don’t have half a cent in their pockets, because China is a down-to-earth and diligent nation.
Because of this, when Chinese people buy things, they always weigh their pockets and do what they can. From buying a house and a car to buying meat and vegetables, Chinese people will make careful calculations based on their own abilities. Even if the housing prices are so high now, there are few cases in China that they cannot repay the loan after buying a house, because when buying a house, they have long planned how to repay the loan in the future.
- . China and the United States per capita disposable income different
If you want to keep up with your consumption, you must first have income. For example, a housewife with no source of income will find it difficult to buy whatever she wants unless her husband gives her money, or her family’s money is under her control.
In 2021, the per capita disposable income of the United States was US$56,000, and the per capita disposable income of China was US$35,000. and exchange rate are 10 times different. Even if the exchange rate factor is excluded, the United States is 1.6 times that of China. Although China's per capita disposable income has increased a lot in recent years, there is still a certain gap from the United States.
This leads to the fact that even if Chinese people want to consume, they have to consider their own economic strength.
- 3. The social welfare system of China and the United States is different
In terms of children's education, although China and the United States have implemented compulsory education in both primary and junior high schools, , there are still some differences in kindergarten. Public kindergartens in the United States are free, and the tuition fees for public kindergartens in China are several thousand per semester.
In terms of elderly pension, although the number of people participating in pension insurance in China has exceeded 1 billion, , the average pension is only about 3,000 yuan. The pensions for those living in rural areas or freelancers may not reach this level. Their pensions for pensions need assistance from their children, which invisibly increases pressure. The differences in these basic social welfare systems have also created different consumption capacity of the people of China and the United States.
- Conclusion: There may be many other reasons for the differences in consumption capacity between China and the United States, but no matter what, China is now at the forefront of the world in many aspects. With the progress of society, the consumption capacity of Chinese people will also increase.
