A Chinese consumption downgrade could be felt around the world. A consumption downgrade could also embolden Mr. Trump in his trade fight with China, as he gambles that Beijing can’t take much more economic damage. This way, Mr. Wang — who makes about $2,000 a month after taxes — saves $160 a month. “It makes me feel occupied.”So the consumption downgrade is in. Even as China’s stock market has sputtered, shares in companies that make affordable staples like erguotou, a cheap hard liquor, and pickled vegetables have bucked the trend.

Source: New York Times August 22, 2018 13:52 UTC