China’s Middle Class Struggles to Minimize Wealth Loss in Turbulent Economy
‘In China, there is nothing that can be done now, no matter what is invested will be lost,’ a former private business operator said.
Customers use automated teller machines at a branch of the Industrial and Commercial Bank of China in Beijing on Oct. 17, 2006. Peter Parks /AFP via Getty Images
China’s middle class has suffered a sharp drop in income amid the country’s worsening economic conditions. Most have chosen to hunker down, not invest, not explore business opportunities, and cut back on expenses to protect their assets with minimal losses.
Xin Ning is a contributor to The Epoch Times with a focus on China-related topics.
