No wonder people are putting in more time at work. In most of Asia, consumer spending has recovered to some extent, but like the recovery itself, things ain't what they used to be. Retail spending in every country remains below 1997 levels. Some of that may be a function of job insecurity and lower wages. But with workers spending more time at work, they are also spending less time shopping or at leisure.
China is a classic example.
This year, the government created a seven-day holiday around the May Labour Day just so people could go and spend money. Search Tips Prev. Review Publishing Company Limited, Hong Kong. All rights reserved.