ZH: China's $1.2 trillion savings glut in focus for recovery

ZERO HEDGE writes:

(By Ye Xie, Bloomberg Markets Live reporter and strategist)

The exact shape of China’s economic recovery depends on how much consumers pull out of the savings they accumulated during the pandemic (also see “What China Savings Mean For World Consumer Firms“).

While the jury’s still out, the pattern of post-lockdown saving rates in developed economies suggests that a spend-it-all approach is unlikely among consumers in China.

With slowing exports and sluggish housing investments, consumer spending is expected to be a key ...