#傅鵬 stated on the forum that China has experienced a period of consumption upgrade over the past ten years since 2009, primarily driven by rising wages or real estate appreciation. However, he warned that relying on the real estate market is dangerous, as consumer spending could quickly decline once housing prices drop. He wrote on Weibo: "The 'wealth effect' brought by real estate has dissipated, directly impacting consumption."
Fu Peng's analysis goes beyond the present; he also compared China's current situation to #日本1990年至2002年間的經濟困境 . Fu Peng pointed out that at that time, Japanese households were unwilling to consume, savings levels were abnormally high, and funds flowed overseas rather than locally. He noted: "The situation in Japan back then is basically the same as what we are experiencing now." This speech attracted over 162,000 views on Bilibili, a platform known for its anime content.
In his 22-minute speech, Fu Peng also analyzed other issues, including #人口老齡化 , #需求疲弱 , the lack of confidence reflected in the sluggish stock market, and declining investment returns. He pointed out that the relief provided by companies' overseas expansion is limited, while cost-cutting measures such as layoffs further weaken domestic demand, complicating efforts to stimulate the economy. $BTC
