Blue-collar workers in China have started to make a lot of money, but are mostly ignored as a force in domestic consumption, says business analyst Shaun Rein, author of The War for China’s Wallet: Profiting from the New World Order to CGTN from Shanghai. The focus is on billionaires or youngsters, but the fast emerging wealthy blue-collar workers are forgotten, he argues.
CGTN:
The consumption power of Chinese blue-collar workers is underestimated, and they will generate greater domestic consumption despite the current trade disputes, according to Shaun Rein, founder & managing director of China Market Research Group.
Rein has been in China for 21 years and has written three books on Chinese market and consumers. He said an obvious trend in China currently is that people are underestimating the optimism of blue collar workers.
“Three years ago, a lot of young men, maybe between 20-22 years old, were making 1500-2000 yuan a month, working in factories in south China’s Guangdong Province, or working in real estate. But because of the rise of e-commerce companies like Meitu, Taobao, these people are making 10,000 yuan a month.”
“There are about 10 million jobs in China today. So the optimism of blue-collar workers is really high despite the trade war,” Rein explained.
More at CGTN (including a video clip of the interview).
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
Are you looking for more branding experts at the China Speakers Bureau? Do check out this list.
