Chapter 661 China, Korea and Japan

The reason why Japan did not have a credit card bankruptcy crisis like South Korea, but only had a credit card storm around the 1990s, is that the number of Japanese people using credit cards is low.

In 2002, Korea’s credit card utilization rate was 69%, while Japan’s was only 7%. If we go back a decade or so to Japan in the 1990s, the percentage of Japanese people using credit cards would be even lower.

The reason why Japan has not caused its own credit card bankruptcy crisis is due to its national character. It is said that Chinese people love to save money, but Japanese people love to save money even more than Chinese people.

Japan is mainly a country made up of four major islands and has always been a country with many tsunamis, earthquakes and typhoons …… disasters.

Their body’s genes and thinking inside the consciousness of a kind of as long as they do not die, then it is necessary to take precautions. People can’t live without money.

At this time in Japan, people who use credit cards are generally young people, not the elderly. If something really happens and you really can’t pay off your debts, you can still turn to your parents for financial assistance.

The year 2002 was a monumental year for Masayoshi Kishimoto. In his previous life, he had entered university in that year.

At the same time, China, South Korea and Japan would begin to see a new inflection point for young people.

In fact, some regular state-owned banks in mainland China were stationed on college campuses, and behind them were some private banks that followed suit and provided credit cards to college students at the time.

This credit limit was generally between 500 yuan and 2,000 yuan. At that time, the common monthly cost of living for undergraduates was something like three to five hundred dollars.

Poor students were living on one or two hundred dollars a month, or even tens of dollars a month. The credit card limit was not high at that time, but it was perfectly in line with the economic income and consumption level at that time.

If a college student had a black-and-white Nokia or Motorola in his hand, he was a representative of the affluent class among college students.

As for personal computers, very few college students had them. Even for those who do have PCs, they are only assembled computers costing about 3,000 yuan.

Why did formal banks in mainland China eventually withdraw from college campuses? One of the main reasons is that the bad debt rate is too high.

Many college students are overdue on their credit cards, and even after they graduate and work, they still don’t intend to pay. Banks can not directly violent collection, so they had to collectively choose to withdraw from the college campus market.

This has given the various campus loans later vacated the survival, development and growth of the zone and soil. Later generations of college students are always complaining that no formal bank to provide them with credit card business, resulting in their cash flow, they will have to go to the higher interest rate of the campus loan to carry out a turnover.

To blame can only blame their gang of ex-people’s credit is really “too good”, resulting in the banks do not dare to issue credit cards for college students, after all, the commercial banks are for profit and make money, but not to do charity and feelings.

Young people have strong materialistic desires, that’s normal. No matter what era, it is also a change of soup and not a change of medicine. Even in the years of material scarcity in mainland China, young people of my grandparents’ generation were filled with the pursuit of watches, bicycles, and radios.

The young people of my father’s generation became the pursuit and yearning for BBs and big brothers. The generation above their own previous generation became the pursuit and yearning for cell phones and computers.

After 90, especially after 95 and 00 generation of college students, the pursuit is to be able to drive their own private car inside the university campus is very windy, the best is a sports car.

Korean young people and Japanese young people are suffering at this point in time, especially Korean young people. The problem they face is that compared to their parents when they were young is the problem of different pay for the same work.

The income of young Koreans and Japanese is significantly lower than that of their parents when they were young. In addition, the side effect of inflation is that the amount of money in their hands is not only lower than before, but also their purchasing power is even lower than before.

It’s a tormenting feeling to be above one’s best years and not have money in your pocket. Do you have to spend money to fall in love?

In Korea, it’s natural for a guy to be responsible for the entire cost of a date. Otherwise, he will be disliked by the girls and deserve to jerk off alone for the rest of his life.

On this point, Japanese guys can instead have an AA with the girl or be responsible for most of the date spending.

Japanese and Korean guys don’t have it easy, and neither do girls. Japanese and Korean girls spend a lot of money on cosmetics and clothes. They would rather eat instant noodles every day, but also want to dress up beautifully.

If they don’t look good enough, they will be disliked not only by boys, but also by their own kind. Not to mention the desire to find a high-income man or a decent job.

In order to make up for the deficit in expenses and income, the parents of a decent family will secretly subsidize the expenses, after all, they have been there before and know it all.

Secondly, they don’t pay living expenses and live at home for free, which saves them a lot of money that can be used for socializing.

At this time, whether it is Japan, or South Korea, even in mainland China, Hong Kong, Macao and Taiwan is more or less the same situation, single men and women will continue to live with their parents.

Even if they have a job, they tend not to move out, and at best, they give their mom some money for the household. There is no shortage of cases where they pay one 500 yuan at the beginning of the month, and then at the end of the month, they will borrow 1,000 yuan from their parents without paying it back.

People who come from the lower-middle class of society, especially the bottom, or those who have a lot of children at home are often tragic. Apart from the extensive use of credit cards, they have no better way to make up for the shortfall in personal spending.

Their self-assurance is that their income will increase in the future and they will have the money to pay off their credit card debts. In fact, that is just wishful thinking and impractical thinking.

Many labor-intensive jobs in Japan and South Korea have already started to move to mainland China. Three years from now, Taiwan will be another target for Justice Kishimoto.

In 2005, Taiwan, with a population of more than 20 million, will also have a credit card crisis. How bad will it be for the Taiwanese? Charcoal inside supermarkets is expressly forbidden is not allowed on the shelves.

Too many ordinary Taiwanese cannot afford to pay off their outstanding credit card debts and are being violently pursued by the triads to the point of mental breakdown, so they have to buy charcoal to commit suicide.

After another decade, the gap between Taiwan and mainland China is getting smaller and smaller, until it is almost none, and even surpassed by the first-tier cities in mainland China, there is no longer the advantage that existed in the 1980s and 1990s of the last century. Taiwanese laborers either ran to Vietnam and other Southeast Asian countries to work, or came to mainland China to work.