Sunday, October 11, 2009

A new generation of debtors

According to a recent survey done, young office workers were spending
more than their monthly wage for brand name products like LV, Catier,
Dior, Dunhill, etc... The problem is that, on average these workers
don't make a lot, between RMB 3,000 to 8,000 per month. And they
spend about 2 to 3 months of salary on a bag or a pair of pants. When
there was no cash, they use credit cards. And the credit cards they
swipe, max out the limits.

Some were frequent shoppers at their own favourite brand name store.
Yikes. This problem is due in part of culture (the one child family,
get what I want from parents), show-off, to best others. This younger
generation has no "brain". From a child development psychologist's
opinion, they do not have a "responsibility" nor a "right or wrong"
more. Only ME ME ME. So, they are still at stage 2 of a child
development: the "ME ME ME" stage. Scary thought.

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