Comments by "Peter Jacobsen" (@pjacobsen1000) on "Nightlife back in parts of China despite zero-Covid policy as US$6 trillion growth seen for sector" video.

40 trillion RMB seems very high. Given that consumption makes up around 40% of China's GDP, this would mean that people spend 80% of their money on the 'nighttime economy'. 80%?
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@biboloxo But 80%? Come on, both you and I know that can't be. Remember, this is not just young people, it's everyone. Yes, we see young people out in restaurants, clubs, shopping malls; on the corners eating BBQ meat sticks or MaLaTang, but what about their parents? They don't do this. They stay at home.
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@notawidow6560 The day is only hot now. By November it'll cool off a lot. At least here in Shanghai.
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@industrialrobot434 "Medical expenses? Electricity bill?" Those are two posts that Chinese people also have to spend money on, plus clothing, food for the home, furniture, gas, shoes, mobile internet, basically the same stuff everybody spends money on. Only a fraction gets spent on 'nighttime economy'.
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@obsidianstatue Ok, so 'daytime economy' is almost nothing.
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@biboloxo Ok, so 'nighttime economy' is just another word for 'consumer spending'?
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@zeth479 It doesn't make sense to use PPP in a fully domestic context. Imagine you make RMB 20,000 a month. You can't then say 'Hey, I'm using PPP so I really have RMB 30,000 to spend on 冒菜 and gaming'. You still only have RMB 20,000. What PPP means is that a bowl of 冒菜 may only cost you RMB 30 in Shanghai, but the same bowl would cost RMB 45 in L.A.
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Your argument is faulty. 80% is still 80%, no matter if you use PPP or not, and 40 Trillion is 40 Trillion, no matter if you use PPP or not. To repeat: PPP is a measure only useful when comparing relative wealth and expense levels between different economies. This study is not about different economies, but only about China's domestic economy. The study claims that Chinese people will use 80% of their money in the 'nighttime economy'. Let's not ignore the fact that iiMedia Research is also a marketing company, which may generate a lot of business if people believe their research.
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