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A Once Frugal Nation, China Is Getting Run Over By Consumerism

-Analysis- BEIJING — The “invisible poor” has become a new online — and ironic — moniker in China. It describes young people who earn more than 10,000 RMB ($1,570) a month, a considerable income for most Chinese, but who are also big spenders. They wear $500 suits, get regular facials, drink top-class Chilean wine, and […]

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