Prices are rising and that is a concern for many people. In one country, young people are discussing how to feed themselves with 70 euros a month.
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Rising prices are currently a concern for many people. The high prices for food and other essentials are taking a toll on incomes, leaving less money for other things. In China, this is especially felt by young people. Many young Chinese are trying to get by with around 70 euros for food.
Young Chinese have about 70 euros for food each month
What are young people talking about? The Xiaohongshu network is a huge social platform in China, boasting over 300 million active users. At least half of the users are said to belong to Generation Z.
The English language ‘Washington Post’ reports that young Chinese are communicating how they manage to get by on less than 70 dollars a month for food through photos of their meals and the associated costs for the ingredients.
The rising cost of living is weighing on consumers, and there are young people who worry about how they will make ends meet. Here, they are facing the challenge of cutting down on food costs. They do this, for example, by posting photos in the Xiaohongshu network to show how much they can spend for that amount of money.
Why is this surprising? The current situation is a stark turnaround from recent years, where the focus was on spending more money than others: Luxury brands, designer handbags, and expensive cars were all the rage, and people tried to outdo each other in spending.
This change is primarily due to significant shifts in living conditions: Many students have now left university, others have lost their jobs, and are currently reorienting themselves. Many now have to think about what they want to spend their money on.
How does this compare to Germany? Looking at international price comparisons, one finds that food prices in China in relation to income are even slightly higher than in Germany. The Federal Statistical Office reports:
In 2021, the price level in China was slightly above that in Germany (100 vs 104 on average), which means you have to spend more on food compared to your income. The Federal Office determines this by calculating so-called purchasing power parities.
Frugality and contentment are becoming important again
As an example of the new culture of frugality, the Spanish magazine Xataka.com cites engineers: They found that they could spend less than 20 yuan per day (about 2.60 euros) on soups and fried rice and managed months where they could sustain themselves on about 332 yuan (43.29 euros). This even went so far that they could save the money to later move to another city for a better job.
Another realization among young people: If you order less and start cooking for yourself, you can not only control your expenses more consciously but also eat healthier.
Generation Z is facing two major problems aside from criticism. On the one hand, rents are becoming increasingly expensive, and on the other hand, they no longer want to take any job just to earn money. And this is something especially older generations do not understand well, who refer to their own life paths: Gen Z is currently facing two major problems, one of which they cannot solve without help
