With one of the
highest growth rates in the world, China’s booming markets have been targeted by industries of all sorts,
eager to profit on the slumbering giant’s
economic awakening. One relatively new area that has recently caught the eye of foreign industries is a rising
generation of middle class, empowered Chinese youth. This generation, termed the “me” generation for its rampant consumerism is already China’s highest income bracket and may strongly influence the economics and politics of a growing China.
Mary Hennock’s article “Inside China’s ‘Me’ generation” delves deeply into the lives of this newly empowered class, exploring both the economical and political consequences that come with the rise of the “Me’s”. Hennock finds, that as
young Chinese become wealthier and wealthier, as do foreign companies specializing in retail, cosmetics, credit cards, and everything else young and consumer. Interviewing L’oreal China’s Paolo Gasparrini, Hennock finds that young Chinese spend the large portion of their paychecks on consumer products, trends, and fashions that have been culturally imported from around the world. Readership in the latest fashion magazines “I Look” and “Le” is skyrocketing, and it is obvious that the Chinese are gradually more concerned with appearances than they have been in the past.
However, it is a misconception, Hennock writes, to think of this “Me” generation as materialistic only. Boasting one of the highest savings rates in the world, China’s youth are driven, determined, and eager to work for their own betterment. Consumerism does not mean folly or hedonism, but instead expresses a will for the cultural capital that comes along with increased wealth. This can be seen in the latest fashion trends, as Chinese women in particular, have edged away from the “punk rock” look that their American and Japanese counterparts often sport, and towards “corporate” looks- suits, heels, makeup, and business casual.
Politically speaking, the “Me” generation is still relatively disenfranchised. Politics have never been popular in China, especially in lieu of possible of reprisals from the communist government. But with the increasing wealth of this group, the collective values, ideas, and aspirations of these young people will have to be taken into account by an aging communist party regime that is eager to edge on China’s spectacular economic growth.
The rise of the “Me” generation in China bodes well for social and economic change, Hennock reports. It is best to think of them as an indicator for how far China has come and a hope for how far China may eventually go.
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