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Don't remind me again today

When families get richer, they don't just buy more stuff—they shift spending to services. That's how job losses from automation get absorbed. New roles emerge.



Here's the catch: what China faces now mirrors what the U.S. struggled with back in the 1930s. Raising wages sounds simple, but...
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SerRugResistantvip
· 2h ago
Automation breaks the bowl, and the rich go buy services. Can this logic trap the whole world? It feels like the situation in China is even harder to handle than in the United States in the 1930s.
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MetaverseVagabondvip
· 8h ago
This logic is a bit far-fetched... Can the service industry really absorb that many unemployed people? It feels like in the end, some people will still be left behind.
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TokenSleuthvip
· 8h ago
This logic sounds reasonable, but what about in reality... Can the rich really save jobs just by spending money on services? What about the people at the bottom?
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TokenomicsShamanvip
· 8h ago
Automation leads to job loss → growth in service consumption → new job opportunities. Sounds perfect. But the problem in China now is that this logic didn't fully work even in the US in the 1930s, so why would it work now?
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LonelyAnchormanvip
· 8h ago
Hmm... that's right, but it's not the whole story. This kind of logic simply doesn't work in China, does it?
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MemeKingNFTvip
· 8h ago
Bro, does this logic really work on-chain? The service industry absorbing the unemployed... Sounds a lot like making excuses for automation. To put it nicely, it's industrial upgrading; to put it bluntly, it just means the "retail investors" are being forced to consume new services. The current situation in China does feel a bit like history repeating itself, but the demographic structure is completely different now. I really can't see how this deadlock will be broken this time...
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DaisyUnicornvip
· 8h ago
Oh no, it's that "service industry catch a falling knife" logic again... But the roots of this flower in China are much deeper than those in the United States in the 1930s, the nutrients that can be absorbed are truly different.
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