Recently, a phenomenon worth noting—American economist Krugman pointed out that middle- and low-income consumers in the United States are currently having a tough time. Economic growth is sluggish, and ordinary citizens are under increasing pressure, as seen from the rising data on loan defaults and credit card delinquencies. The consumption side is even more obvious; people are starting to turn to cheaper foods, and their shopping choices have changed.

What’s more heartbreaking is the widening income gap. The top 10% of earners in the United States now account for nearly half of total consumer spending. In other words, a small high-income group supports the majority of the consumer market, while the purchasing power of middle- and low-income groups is shrinking. This polarization will become more apparent against the backdrop of economic stagnation, exerting lasting pressure on the entire economic cycle.