China’s Fake Rich: Bought a Million-Dollar Luxury Car, but Can’t Afford to Fill It Up

When we mention the term 'poor,' we often envision those living in dire poverty. But in today's society, especially in China, a surge of 'New Poor' has emerged. Particularly after three years of stringent pandemic controls and an overall economic downturn, major cities like Shenzhen, Guangzhou, Beijing, and Shanghai are witnessing an increasing number of these individuals with limited options.
#poor #shanghai #shenzhen #beijing #chinaobserver
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[marcomarc]

A teacher of mine once said;

It's better to have an ugly and cheap bag, yet has money in it,
Rather than having a beautiful and expensive bag but has no money in it.

[michaelqu]

There's a saying, you're too poor if you have to pretend to be rich.

[Big_Blue_Monkey]

I know a Brit who bought a Ferrari and barely drives it because it's too expensive to run. He's also worried about it breaking down because to fix it will cost a fortune. Personally I really don't see point of owning it if you can't use the car, it's just an over priced ornament sat in the garage.

[jackcat]

The USA is no better, 40% of the people do not have $1000 in bank.

[adonisfernandez]

The problems of consumerism are not unique to China. What sets them appart is how strong the fluctuation of cash has been. They went to riches to rags in months, not even years. People with incomes of 2 or 300, 000 dollars a year lost their income source and have no chance of find a similar one EVER.

[zerodegreescelsius]

Yup, they are everywhere. People who own flashy cars but gripe about fuel and parking fees.

[statostheman]

In my circles, we've a saying: "The poor dress in the clothes of the rich man, while the rich dress in ordinary clothes".

[lakeline]

That is happening in many places outside China too. Here in Australia, many people, especially Millenials, are piling up a massive amount of debt. Is all Roses when you can afford it, but with the interest rates going up, people need more money to service those debts. The worst thing is, that most of the debt goes into luxury items just to show up and look successful not into investments.

[thebram]

Well, a lot of people bought iPhone but could not even afford mobile data, just depends on shared wi-fi of coffee shops.

[GNerdful]

in Britain we say these kind of people have "fur coat, but no knickers"

[nikolaradakovic]

Zero compassion for them. When they are on a high they behave super arrogant.

[AFRIKTODAY]

consumerism is not CAPITALISM! Consumerism is was designed by corpocratic entities aligned with the State to control and manage society but discouraging the " capitalist" vertues of thrift, self reliance, and savings.
Capitalism thrives under savings, long term thinking, and hardwork. Consumption spending is not one of its focal point.
Capitalism builds savings while consumerism overspends.

let's never confuse both concepts!

[steveforbes]

I believe that's what we used to call "Keeping up with the Jones Family"!

[xue.w]

I'm very glad that I live in a place where just what looks good is enough, not caring much about the brand. Plus the fact that we flex the good things we bought for cheap lmao

[ronnelacido]

It must be so difficult putting up a facade just for the sake of appearances. Those "new" poor pretending to be rich have adopted a dual identity because losing face would be worse for them. A hollow existence that hinges on how much money you got.

[AnBS]

Spending the money you don’t have is not sustainable. They’ve learned it a hard way.

[RachellMangosan-mvdw]

Karma to the evil bully. Along with their lies. Their arrogant. And greed. And their fake map. And fake 10 dash line. And their abuse in power to the other country. In their evil evil deeds in land grabbing. The things that don't belong to them.

[majinboo]

thats the problem, age limit in career. they expect people born 25 years ago to be competent as people who are luckier to be born 25 years later.

[TheMrB]

I hunted for ages to find a power washer not made in China. Found a German one, snapped it up. No more Chinese junk for me.

[tttran]

It looks like the Chinese are catching up with the American way of spending.