Comments by "Patrick T" (@patrickt49) on "China’s Credit Card Numbers Drop By 80 Million, Overdue Debt of $22 Billion up 64%" video.

  1. There's credit card debt that are used to fill the gap between actual income and essentials and credit card debt to fund a flashy lifestyle. A lot of Chinese fall for the latter because it's cultural. Americans also flex but it's not as widespread a cultural phenomenon as in China. Why do you think luxury brands love China? Lots of those purchases are financed by debt.
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  2.  @jupitereye4322  The Chinese haven't been exposed to credit in nearly as much time as the Americans have. This recent generation is the first generation to truly avail of credit. Whereas in the US, people have been availing of credit since before the 70s.
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  3. CC have become essential. Because for some it means starving if they don't use them.
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  4.  @MK_ULTRA420  Chinese don't have the same options. They can't even file for bankruptcy.
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  5. And that number is still rising...
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