As is the case with Japan that experienced a decades-long economic slump after the "bubble burst" in the 1990s, Chinese people have become more willing to save rather than spend their money in the wake of the coronavirus crisis.A propensity to save, in general, would weigh on corporate profits with consumer spending shrinking, which could prompt companies to cut payrolls and slash employment. Such a move would put downward pressure on the broader economy.In China, meanwhile, the Communist government led by President Xi Jinping has been trying to prop up the virus-hit economy by increasing p…READ FULL ARTICLE
