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People's Daily Online>>Opinion

Chinese rush to luxurious products before being rich

By Jiang Hongbing (People's Daily)

17:16, February 06, 2012

Edited and translated by People's Daily Online

China accumulated certain personal and social wealth by hard working in the past 30 years, but it has turned into a big question that how China should avoid intensively and rapidly spending it on luxurious products and make it a long-term capital for the sustainable development.

According to latest data issued by the World Luxury Association on Feb. 1, Chinese's expenditure on overseas luxurious products in the Spring Festival of 2012 had increased by about 30 percent compared to that in the Spring Festival of 2011. Of the total expenditure on luxurious products of Europe, Macao and Hong Kong, Chinese's expenditure accounted for about two thirds. In North America, Chinese's expenditure accounted for one third.

China's economy has been growing rapidly for 30 years, leading to a great rise in the consumption power of the country and the people of the country. The Chinese consumers, who go to London, Pairs and New York by air in groups, crowd tightly in front of luxury shops and spend money like water, have performed a reality show of “Chinese richness” for the world.

People know etiquette after they have enough to eat. Such consuming behaviors by some Chinese people are unavoidable in the social development course. And we should be proud of the fact that Chinese people have become richer.

However, what worries me is the abnormal social state of mind behind the crazy money spending on luxurious products. China's group of people that is pursuing luxurious products is too large and too young. It is said that, China's luxurious product consumers are 10 years younger than those of Europe and the United States. High-end luxurious products which are originally designed for a few richest people and their sons and daughters have turned into “lovers” of common urban youths. The money worship declaration of “I would rather cry in a BMW car,” the many cases of individuals flaunting their name-brand bags and sports cars and the phenomenon of earning several thousands of yuan a month but buying a bag of tens of thousands of yuan are all reflections of the fact that many Chinese are obsessed by the material desire.

China indeed accumulated certain personal and social wealth by hard working in the past 30 years, but it has turned into a big question that how China should avoid intensively and rapidly spending it on luxurious products and make it a long-term capital for the sustainable development. Practically speaking, China should carry out social educations on blind consumption rather than encourage luxurious consumption and allow it ruin the youths. After all, most Chinese people are still not rich and are just working for a fairly comfortable life. Strictly speaking, the obsession to luxurious products is the reflection of the fact that Chinese people have lost their life goals and beliefs. If we do not cure it in time, the period when we spend money blindly and are conquered by overseas luxurious products will be longer than we expect.

Email|Print|Comments(Editor:厉振羽)

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iSiZdcRSATEdw at 2012-02-27109.230.216.*
Interesting, Claude. It would be iitnresteng to know how Chinese traveler spend compares to other countries. I recall it used to be comparatively low in North America, but perhaps that"s changed.
kkr at 2012-02-0959.161.166.*
sending on luxury goods may combined with tardition.If it happends then competion for the money will increase then the people may find ulternative ways to get the moneyto live luxurious life.It will ultimately show large effect on the moral values in the society.Government and media should take the initiative to make the people realise there are no happiness in luxurious life,through sharing and helping we can get ultimate satisfaction by seeing happiness in the eyes of others.Make the people to take the lead and encourage that type of people who are doing these type of service to the society.
ming at 2012-02-0658.8.176.*
This crazy and blind spending on luxurious goods by some rich people...occurred almost many developing countries like Japan, U.S. and West EU. Those people tasted this arrogance before including HongKong, Singaporean, Taiwanese, Thai etc. But now..today these countries have experience of Economy slowdown and tight their people"s belt. Sooner or later, Chinese will face the same crisis.It is the circle. Look at U.S. Japan, EU. now...from rich to middle and poor. And China just from poor to middle and rich. I see many restaurants in China with many foods left behind, we can"t see this in the past 25 years ago that a Chinese will spoil the foods. It was starving!!You might forget.
  

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