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Cake day: December 1st, 2023

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  • Bloomberg is stock market brained, but more generally China’s extremely high savings rate is regarded as a bad thing, because this is usually due to the combination of high income inequality, low social safety nets, and high housing costs.

    Basically, there are too many poor households in China that are saving excessively due to anxieties about lack of safety nets and high housing costs.

    Low education/financial literacy and poor regulation of financial markets also make Chinese households very risk averse to consuming, investing, or even taking out loans (credit cards are very unpopular). Everyone is just excessively dumping their savings in assets perceived to be safe.

    Once savings are in “safe” assets, they are inaccessible to other productive uses like startups or other loans. This is the exact opposite of a productive economy, and is what the article tried to convey.

    China’s high savings: Drivers, prospects, and policy implications - ScienceDirect - https://www.sciencedirect.com/science/article/abs/pii/S1566014125001049






  • Meron35@lemmy.worldtoTechnology@lemmy.world*Permanently Deleted*
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    2 months ago

    Not to defend the stupidity that does exist on Tiktok, but reputable sources often post their news and extra content on Tiktok, and Tiktok often the only way to access it. “Proper news” in the form of articles tends to be more jargony and needs to confirm to a professional tone. Not to mention, they simply take more time to produce.

    Examples of extra content include fact checks, debunking right wing conspiracy theories, longer versions of interviews that didn’t make the final cut, or simple clarifications in the form of Q and As.

    E.g. see the Tiktok accounts for the BBC, The Guardian, the Financial Times, etc