this post was submitted on 31 Jul 2023
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Home sales are 30-40% below last year’s depressed level after the economy barely grew in the latest quarter, according to the owner, who would give only his surname, Cai. He has cut staff by 80% to 40 employees. Their income from sales commissions has fallen as much as 90%.

“People are worried,” said Cai. “They feel safer holding onto their savings instead of spending them.”

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[–] Prior_Industry@lemmy.world 6 points 1 year ago (2 children)

Time to start up the Chinese printer

[–] EnderWi99in@kbin.social 2 points 1 year ago (1 children)

Has it ever actually stopped?

[–] Num10ck@lemmy.world 2 points 1 year ago

better that than the war machine

[–] theodewere@kbin.social 2 points 1 year ago

they probably don't want to experiment with more Inflation on top of it