Gifts / Sports & Toys

According to the Huacheng Import and Export Data Observation Report, in the past 10 months, the lives of the bottom Americans and the rich in China have been seriously separated. The bottom is facing rising prices and increasingly inflated bills, while the rich on the other side are benefiting from the appreciation of the exchange rate brought about by the US dollar interest rate hike, which has opened the overseas shopping frenzy.

There is no hope for the manufacturing industry to recover under the high interest rate US dollars, and the bottom people can not meet the employment needs of Silicon Valley and Wall Street. The consumption degradation and luxury goods hot sale exist in the United States at the same time!

In the past 10 months, there has been a serious split between the lives of the bottom Americans and those of the rich at home. The bottom is facing rising prices and ballooning bills. On the other hand, the rich are benefiting from the appreciation of the exchange rate brought about by the US dollar interest rate hike, which has opened the overseas shopping frenzy. Opening the foreign e-commerce statistics website EtsyHunt, we can see that the consumption of luxury goods in the United States has increased by 14% year-on-year this year, and even compared with 2019 before the epidemic, the total consumption has also increased by nearly 50%. Thanks to the stronger exchange rate of the U.S. dollar, a large number of Americans have increased their consumption of overseas goods, of which Europe and Southeast Asia are popular destinations, but the income of the bottom Americans has not increased in a large scale, The inflation index of nearly 8% has kept them away from the "moonlight" level for a long time. The luxury consumption represented by handbags, clocks and ornaments is far from their world.

The consumption of middle and low income people is significantly degraded

According to the Huacheng Import and Export Data Observation Report, although the consumption capacity of the rich in the United States has increased dramatically, the life of the bottom of the United States has become more difficult in the past two years. 70% of the low-income Americans report that their monthly spending on food and transportation has become higher. In particular, the oil price has doubled compared with two years ago, and the travel cost has severely restricted the quality of life of the bottom of the United States, More homeless people spend their money on medical expenses. Monkeypox, COVID-19 and excessive drug use have become the top killers of the health of the bottom Americans.

However, the soaring market of consumer goods once maintained by making money did not continue in 2022. The consumption concept of "smart and unrestrained" has made the bottom of the United States close to bankruptcy. According to the Huacheng Import and Export Data Observation, 59% of the middle class in the United States no longer regard big brands as their only source of consumption, and nearly 70% of Americans are willing to use some cheaper accessories as party gifts during the epidemic stage.

High income groups scatter money overseas

However, the situation of consumption downgrade does not exist for the wealthy Americans. On the contrary, in 2021, when the Federal Reserve floods, the wealth of many wealthy Americans will rise rather than decline. The wealth of the top 1% of the "super rich" in the United States has exceeded the total wealth of the middle class families accounting for about 60% of the population, which is the first time since statistics in the history of the United States.

Struck by logistics and inflation, the rich Americans did not spend their money at home after they made huge wealth. On the contrary, Europe and Southeast Asia have become the top choices for the rich Americans. According to the Huacheng Import and Export Data Observation, the euro depreciated more than 20% against the dollar this year, and the currencies of some emerging countries even depreciated more than 100% against the dollar. In the second quarter of this year, the number of Americans who bought properties overseas rose by 36% year on year, Many wealthy Americans choose to buy luxury houses in London, Paris and coastal cities in Southeast Asia.

Therefore, the polarization between the rich and the poor in the United States is continuing to increase under the wealth tear. There is no hope of change in the lives of the bottom people. They rely on relief and government money to make ends meet. The rich rely on financial games to wait for wealth appreciation and go overseas to consume. The economic cycle based on the United States is gradually collapsing. The manufacturing industry has no hope of recovery under the high interest rate of dollars, and the bottom people can not meet the employment needs of Silicon Valley and Wall Street, The downgrading of consumption and the hot sale of luxury goods exist in the United States at the same time, but all these are reasonable under the legal system of the United States. What's more ironic is that the overseas shopping ability of the rich Americans will further increase when the trend of interest rate increase in the U.S. dollar remains unchanged, while the price of the United States, which can not generate blood alone, will not see the possibility of decline. Huacheng Import and Export Data Observation Report.