Social consumption growth is not high

Social consumption growth is not high, but rapid growth in luxury goods, reflect the disparity resulting from abnormal consumption, China's consumption of ecological deterioration. June 9, the World Luxury Association is also the latest report released in 2011, said the luxury market in Mainland China last year, total spending reached $ 10.7 billion global share of 1 / 4. China is expected to surpass Japan in 2012, the world's largest consumer of luxury goods, more than expected a few years earlier. This will depend on the mass consumption of domestic industrial enterprises struggling to survive, and for the world's top consumer groups over-expansion of manufacturing for China to establish a balanced production chain is very unfavorable. Global luxury goods manufacturers such as the U.S. luxury leather brand Coach, luggage manufacturer Samsonite, the Italian luxury brand Prada, etc., get together and plan this year, listed in Hong Kong, that Hong Kong and the Mainland funds be directed to the luxury goods industry. Decline in industrial growth, the decline in corporate profits rising inflationary pressures, the precursor of stagflation has been circled overhead. Breakthrough study the plight of the way their predecessors, is not one of the ways readiness to stay. In the 1970s stagflation period of the world's major economies, monetary tightening is an important way, then tighten the monetary tough guy, the former Federal Reserve Chairman Paul Volcker took office in 1979, wielding the magic is to raise interest rates, interest rates rose to 19%, while the inflation rate from 13.2% in 1981 to control 3.2 percent in 1983. Together from the beginning of the 1980s Ronald Reagan the new economy, and monetary expansion, debt securitization era, ushered in the golden age of the U.S. economy.