💰How Covid and economic downturn have shaped Chinese consumer spending in 2023 | Following the yuan

The 'consumption downgrade' is a lazy explanation. Look closer, and there are still bright spots.

Key takeaways:

1. Shift in consumer mindset due to Covid: The impact of Covid-19 has led to a significant shift in consumer spending attitudes. Some individuals have adopted a more savvy approach, while others are embracing a 'live in the moment' philosophy.

2. Changing preferences of China's middle-class: The middle-class Chinese consumers are showing a clear …