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Opinion
Shuli Ren, Columnist
May 14, 2024 at 3:00 AM GMT+8
By Shuli Ren
Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.
The great disconnect.
Photographer: Kevin Frayer/Getty Images
It was not supposed to turn out this way. The US economy is strong, its labor market is tight, and people are spending. But a large chunk of the society is feeling gloomy. Some are outright angry, saying President Joe Biden’s policies are hurting them.
The disconnect between consumer sentiment and economic data continues to vex the White House as we enter the presidential election season.
Across the Pacific, China’s economy is struggling. The property market is in its third year of downturn. Youth unemployment is at 15%. Consumer confidence in their future income is at two-decade low, barring the months when much of China was in a Covid lockdown.
Before it’s here, it’s on the Bloomberg Terminal
Opinion
Shuli Ren, Columnist
Why Are Americans So Angry While the Chinese Are Calm?
It’s simple. Cost of living matters.May 14, 2024 at 3:00 AM GMT+8
By Shuli Ren
Shuli Ren is a Bloomberg Opinion columnist covering Asian markets. A former investment banker, she was a markets reporter for Barron’s. She is a CFA charterholder.
The great disconnect.
Photographer: Kevin Frayer/Getty Images
It was not supposed to turn out this way. The US economy is strong, its labor market is tight, and people are spending. But a large chunk of the society is feeling gloomy. Some are outright angry, saying President Joe Biden’s policies are hurting them.
The disconnect between consumer sentiment and economic data continues to vex the White House as we enter the presidential election season.
Across the Pacific, China’s economy is struggling. The property market is in its third year of downturn. Youth unemployment is at 15%. Consumer confidence in their future income is at two-decade low, barring the months when much of China was in a Covid lockdown.
Before it’s here, it’s on the Bloomberg Terminal
