https://archive.md/2021.11.09-212822/https://www.bloomberg.com/opinion/articles/2021-11-09/china-s-economic-model-is-probably-broken
https://archive.md/2021.11.09-212822/https://www.bloomberg.com/opinion/articles/2021-11-09/china-s-economic-model-is-probably-broken
Uhh once again the media doing a projection. If anything it's the US that's likely going to face stagflation. God they really are desperate
Well, what would happen if the media started making a bunch of noise about how much farther ahead of us Chinese states are progressing? If Americans knew that the average retirement age is 60 and they've got lower levels of household debt and higher savings rates and lower cost of living and more job stability and there's no such thing as "medical bankruptcy"...
Would they start envying that quality of life? Would they start emulating Chinese cultural and economic practices? Would they start migrating across the Pacific in pursuit of this lifestyle standard?
Say someone lives in the U.S. and makes relatively little money. How should they prepare for stagflation?
I'm a dumbass riffing off the top of my head, but it's probably best to invest in things like keeping car repairs if any are needed sooner rather than later. Don't re-sign your lease if you can afford not to. Then stay mentally and physically prepared to move cities or change jobs so you can be flexible and pursue better opportunities.
Things are likely to stay "weird" and probably get "weirder" the next couple years economically speaking, but if you're mobile you should be able to find something to keep you afloat. It's unlikely that your current workplace will adjust your wage for inflation (they may not even be able to which is the "stagnation" aspect) so it's all about preparing for that job-hop at the right time.
The next step would be to look at things on a financial level if you have some money in the bank (if someone makes "relatively little" this may not apply). Ideally you want to build up 3 months' savings, and then a 10-20% down payment on a property (anything you could possibly afford) right after that. If you have anyone you trust enough to get a mortgage with, even better. Even if housing prices dip for a bit (I'm waiting for a crash but not convinced it's going to happen tbh), it's very likely to be a "stagflation-proof" investment. Your biggest risks are that it's not advised to sell a home within 10 years of buying it, and a bankruptcy will fuck up your credit for 7+ years. Don't leave anything more than 3 months' emergency savings (a luxury in itself, of course) in the bank at any time, that's where you get hit the hardest