Gold purchases have soared in China in recent years, with investors seeking safe-haven assets amid the weak stock market and ongoing property crisis, but a number of scams have been reported.
President Xi Jinping has again urged entrepreneurs to give to charity and ‘share the fruits of growth’, but his message could find a muted reaction among private firms still recovering from three years of Covid uncertainty.
Some middle-class Chinese are making drastic cuts to their personal budgets amid an uncertain outlook for 2023, while their American counterparts are worried, but are taking it more in their stride.