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China’s Rebound in Household Savings Poses Risks for Stock Rally (www.bloomberg.com)

submitted 2 days ago by schizoidman@lemmy.zip to c/worldnews@lemmy.ml

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cross-posted from: https://lemmy.zip/post/51080694

https://archive.is/dfYft

Household savings rose by 2.96 trillion yuan ($415.5 billion) in September, the most since March

The renewed build-up of savings may deprive the stock market of a key source of support

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[–] Aussiemandeus@aussie.zone 4 points 2 days ago (1 children)

Oh no...

Anyway.

Not a dig about China either, people save money in uncertainty. Let stocks fall. Let's watch all the super power economies die and then finally Australia can take its place at the top of the world. After we redraw the maps of course.

Then it will be you who is threatened by my boomerang cutting your ground harness

[–] HobbitFoot@thelemmy.club 1 points 2 days ago

The issue for China is that it needs people to purchase the goods that it makes to pay off the country's sky high debt. Consumption form the USA is going to drop for various reasons, so domestic consumption was likely seen as a way to replace dropping international consumption.