China’s millennials go all-in on the sharing economy


Bloomberg has an interesting piece about millennials in China:

Faced with a widening wealth gap and the slowest economic growth in more than two decades, millions like Xiong find themselves priced out of the big cities and are rejecting the consumer trappings of a modern lifestyle. Instead, they’re embracing the sharing economy to a far greater degree than their Western counterparts. In a recent survey, Nielsen found that 94 percent of Chinese are willing to share, compared with just 43 percent of North Americans, making them by far the most receptive to the concept.

China’s unique economic system generated unprecedented wealth for millions living under communism. Many millennials had no choice but to grow up in government communes; now they elect to live in co-sharing communities.

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