Shanghai Is Done! Middle-Class Downgrading Fast: Wealthy Women Worth Millions Now Buy $5 Clothes



Recently, Chinese Tiktoker Wang Nicole shared a video about the decline in consumer spending among Shanghai’s middle class. The video gained a lot of attention, sparking comments from many middle-class individuals.
One person wrote, “My best friend says she won’t eat meals that cost more than 20 yuan. She has 1.5 million yuan in cash and lives in a spacious apartment, but she doesn’t buy clothes or bags. She wears my old clothes, and when we shop, she avoids eating out. A cup of water from McDonald’s is enough for her.”
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46 thoughts on “Shanghai Is Done! Middle-Class Downgrading Fast: Wealthy Women Worth Millions Now Buy $5 Clothes”

  1. @3:15 That's because your money and housing in China isn't yours. Everything and EVERYONE belongs to the political party, the CCP. The CCP can wipe out everyone's bank accounts if they wanted (which they kind of have since you can't withdraw your own money; buying small things are the only possible option).

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  2. lol why buy a $7 coffee when you can get 1 kilo for $4? only young and dumb people do that it just makes no sense, it has nothing to do with having many since half the people in the Starbucks are poor or live at mom's. I just refuse to pay it.

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  3. Honestly… just looking at the video – China looks amazing… the development is so obvious. Even if the Chinese become a little miserly, the money is still there.
    I am not disagreeing with the message in this video, but looking at the video, China seems to be doing wonderfully well.

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  4. It's quite obvious, many since National Day had gone overseas to shop and dine out, thanks to Fan BingBing spending spree across SouthEast Asia. Look at how many of them can afford to buy expensive durians. Many even came to Uncle Roger Restaurant too, FUIYOH !

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  5. I'm 38, an ABC in California, but most of my family is from Shanghai. I speak fluent Shanghainese and Mandarin. Reading/writing..uh…..shit, not really. I can read Korean cause it's phonetic. lol.

    I remember visiting for the first time in the 90s as a very young child and there were chamber pots and even A/C was a substantial luxury. You could buy entire meals with coins and walking around with 10 yuan made me felt like a king. A nice red Mao note felt MORE than even a Benjamin. It was bigger lol.

    But yea, I've visited and lived in Shanghai many times after that and it is an absolute tragedy to see what happened.

    I remember the first time I went clubbing in Shanghai when I was 21, I had just started to DJ in California. XinTianDi was the shit. Jazz clubs and hella ladies and everything. For a tall guy like me, it was hella easier to date foreign girls there ironically. They were dying for something a lil different from the usual dating pool.

    Still, I'm a book worm and FuZhouLu is my favorite place to hang out. Books and stationery supplies. Hero fountain pens. White Rabbit candies.

    Shanghai was like a dream. Dou Jiang You TIao every morning. It was just like the JJ Lin song.

    What a tragedy.

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  6. It will just get worse once war breaks out between China and Taiwan. You never see a country that is involved in war booming with wealth and prosperity. For example Russia, even if they are the stronger country in the war, their citizens are suffering economically. War drains the resources of a country, it doesnt matter if you are doing the attacking or defending.

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