Why people in China aren’t spending

China is famous for making products the world wants to buy, but inside the country, consumers are spending far less than the government would like. A property slump, high youth unemployment and weak confidence have left many households choosing to save instead of spend, making it harder for China to shift its economy away from relying on exports. The Chinese government has introduced a range of measures to encourage spending, from consumer subsidies to a new five-year consumption plan. But why haven't these policies delivered the results Beijing hoped for? And is China's low consumer spending simply a temporary problem, or a sign of deeper structural issues? In this episode, host Mariko Oi speaks to Bloomberg Opinion columnist Juliana Liu and Asia Pacific economist Max Zenglein from The Conference Board about why Chinese households save so much, whether Beijing's latest policies can work and why China's spending habits matter not only for its own economy but also for the rest of the world. Asia Pacific, unpacked by those who know it best. Bringing you essential insights and conversations on the stories shaping the region - an economic powerhouse, geo-political flashpoint and the birthplace of global cultural trends. Hear Asian perspectives on international issues and in-depth analysis on news from a region that’s home to nearly 2.5 billion people. Whether it is the latest on trade between the US and China, the rise and fall of political dynasties in Thailand, Indonesia, and the Philippines, or South Korea’s K-pop inspired soft power strategy, we find out what key players are thinking and dive into the stories that matter. Hosted in Singapore by Mariko Oi, alongside BBC experts in Beijing, Bangkok, and beyond – listen to new episodes twice a week. Episodes of Asia Specific are also available on YouTube, here: https://bit.ly/4iJyeVt Get in touch: asiaspecific@bbc.co.uk