为什么中国人活得累？吴晓求：存量财富难以保障改善现有生活

Core Viewpoint - The Chinese economy is undergoing fundamental changes, transitioning from a state of scarcity to one of surplus, which requires new strategies for managing economic expansion and consumption [1][3]. Group 1: Economic Transition - The core change in the Chinese economy is the shift from a scarcity economy to a surplus economy [1]. - There is a need to explore how to expand consumption under the current economic conditions, focusing on the underlying constraints [3]. Group 2: Consumption Expansion - To effectively expand consumption, it is essential to increase income levels, which are primarily driven by employment opportunities, particularly in the private sector [3]. - The relationship between consumption expansion and existing wealth is critical, with real estate prices currently in a downward trend, affecting 60% of household wealth and severely limiting consumption growth [3]. Group 3: Wealth Preservation - The appreciation and protection of existing wealth depend on legal safeguards and cultural recognition of its importance [3]. - The lack of emphasis on preserving existing wealth contributes to a cycle where current income alone cannot sustain living standards, highlighting the need for wealth preservation to facilitate a virtuous economic cycle [3]. Group 4: Societal Concerns - There is a prevailing sense of uncertainty among the Chinese population regarding the future, which influences savings behavior, particularly among younger generations whose income levels have not increased significantly [4]. - The elderly population tends to save their increased retirement income rather than spend it, leading to lower consumption levels [4]. Group 5: Social Security and Consumption Scenarios - Improving the social security system and adjusting fiscal spending towards public welfare is necessary for sustainable economic growth [5]. - As per capita GDP in China is projected to reach $1,400 by 2025, there will be an increasing number of high-net-worth individuals, necessitating the optimization of consumption scenarios across different social strata [5]. - Consumption upgrades should not be viewed as wasteful; rather, they are essential for driving economic growth in modern conditions [5].