BBC] Can China's $40bn spending spree get people to open their wallets?

https://www.bbc.com/news/articles/cx2gk8j06r0o

Can China's $40bn spending spree revive its struggling economy?

Can China's $40bn spending spree get people to open their wallets?

- spree 흥청망청 하기

---

Chinese people are not spending enough to revive a sluggish economy

- sluggish 느릿느릿 움직이는, 부진한

---

It's a spending spree that will encourage Chinese people to crack open their wallets.

- crack open  소리내며 열리다/벌어지다

---

When people stop spending, businesses make less money, hiring slows, wages stagnate and economic momentum grinds to a halt.

- stagnate 침체되다, 부진해지다
- grinds to a halt 서서히 가다가 멈추다

---

To tackle its ailing economy and weak domestic demand, Beijing wrapped up its annual National People's Congress last week with increased investment in social welfare programmes as part of its grand economic plan for 2025.

- ailing economy 불안정한 경제

---

Some say it is a welcome move, with the caveat that China's leaders need to do more to step up support.

- caveat 특정 절차를 따르라는) 통고, 경고
- step up 증가시키다, 강화하다

---

The near-collapse of the property market has also made Chinese consumers more risk-averse, leading them to cut back on spending.

- near-collapse 기진맥진하여, 다 죽어 가는
- risk-averse 위험을 회피하려 하는
- cut back on 줄이다

---

China's consumer confidence has fallen

- consumer confidence 소비 심리

---

Some analysts are encouraged by Beijing's seriousness in targeting longer-term challenges like falling birth rates as more young couples opt out of the costs of parenthood.

- opt out 빠져 나오다, 손을 떼다
- parenthood 부모되기

---

These financial pressures have only reinforced a deeply ingrained saving culture.

- ingrained 뿌리 깊은, 깊이 몸에 밴, 찌든

---

There was a time when Chinese shoppers joked about the irresistible allure of e-commerce deals, calling themselves "hand-choppers" - only chopping off their hands could stop them from hitting the checkout button.

- irresistible allure 거부할 수 없는 매력
- hit the checkout button 결제 버튼을 누르다

---

Explosive sales pulled in over 410 billion yuan ($57bn; £44bn) in just 24 hours in 2019.

- pull in 많은 돈을) 벌어들이다

---

But the last one "was a dud," a Beijing-based coffee bean online seller told the BBC.

- dud 실패작, 쓸모없는 사람

---

China's consumption lags behind other major economies

- lag 뒤에 처지다, 뒤떨어지다

---

That's the year Alibaba and JD.com stopped publishing their sales figures, a significant shift for companies that once headlined their record-breaking revenues.

- sales figures 매출액
- record-breaking revenues 기록적인 수익

---

The spending crunch has even hit high-end brands - last year, LVMH, Burberry and Richemont all reported sales declines in China, once a backbone of the global luxury market.

- spending crunch 지출 경색

---

On RedNote, a Chinese social media app, posts tagged with "consumption downgrade" have racked up more than a billion views in recent months.

- consumption downgrade 소비 감소
- racked up 사업상의 수익·손실을) 보다, 얻다

---

Users are swapping tips on how to replace expensive purchases with budget-friendly alternatives. "

- budget-friendly alternatives 비용을 절약할 수 있는 대안/ 옵션

---

Trade was also the focus of generous state-backed investment in highways, ports and special economic zones.

- state-backed investment 국가 지원 투자

---

But there's a catch in Beijing's plan.

- catch 숨은) 문제점, 애로점

---

The more households spend, the less there is in the pool of savings that China's state-controlled banks rely on to fund key industries - currently that includes AI and innovative tech that would give Beijing an edge over Washington, both economically and strategically.

- households spend 가계 지출
- state-controlled banks 국영 은행
- key industry 기간산업
- give A an edge over B   B보다 A가 우위를 점하다

---