While many central banks around the world are still trying to cool inflation, China is grappling with falling prices.
The Consumer Price Index (CPI) dropped 0.5% in November on an annual basis, the biggest fall since the depths of the pandemic three years ago, according to data released by China’s National Bureau of Statistics on Saturday.
The drop marked an acceleration in the rate of deflation from October, when the CPI fell 0.2% from a year earlier, and prompted calls for urgent action from Beijing to boost demand and prevent a downward spiral of prices.
The data come days after Chinese policymakers vowed to strengthen fiscal and monetary support to boost the world’s second biggest economy, which is struggling with a real-estate crisis, high youth unemployment and subdued consumer confidence.
While having a pile of cash would be nice, typically strategic financial planning is the beat course of action. Set goals, put aside all wants, do well in school and get the career training you require to move up the ladder. Your 20s should be career focused, before everything else. 30s you can start a family and build upon the foundation of your 20s. 40s you break even and start making a steady income. 50s the kids are out of the house and retirement planning takes focus.
What if I want to persue hobbies and interests before I retire?
Nope, not allowed! /s
It really depends on the hobby and if it leads to additional income or if it is a money sink.