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210 sats \ 2 replies \ @zuspotirko OP 19 Sep \ on: The Post-COVID inflation wave barely happened in Asia econ
I have a weird theory. I think a lot of Asians are just not that into consumerism. They just don't feel like owning a lot of stuff and are content with less. This was the story of Japan in the lost decade(s) - the japanese didn't buy all the new tech like video recorders and TVs and VHS and stuff themselves, they exported it. China, likewise, right now is pumping out exports - the worlds factory produces everything but only recently for themselves. South Korea has lots of giant megacorps but the median Korean owns less than people in Spain. It's cultural.
That seems quite plausible. Having lived in Asia for most of my childhood, and America for most of my adulthood, I observe truth in what you say.
But I have another theory. I think it's not just that Asians are less consumeristic, it's that they have less space. American living spaces are huge compared to Asians. They can literally fit more stuff in their homes. I wonder if Asians are less consumeristic simply because they don't have as much space to put things. No one is buying a fishing boat or a dune buggy in Asia, as I see many Americans buying, for example.
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