nialv7@lemmy.worldtoWorld News@lemmy.ml•China's Xi Jinping asked 'What’s so bad about deflation?' amid economic slowdown, report says
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19 days agoyou should go to China and ask average Chinese people about how they feel about their “cheap groceries”.
wealth inequality is a huge problem, and attribute it to inflation is naive. the rich has power in a capitalistic society, they will win no matter we are in an inflationary or deflationary economy. to think deflation will be good for the working people is very naive.
sure, but that is because of rigorous government policies that came out of a herculean effort to eradicate poverty, not because of deflation like the comment i was replying to is trying to claim. if you look like China’s inflation rate, it hovered ~2% for the past decade which is comparable to the US.