You are here: Home» Economic Issues» Highlights

Middle Class Set to Feel the Pinch

Adjust font size:

With great reward comes great risk. For China's middle class, which has enjoyed a decade of unprecedented prosperity, it is now time to pay the piper.

For Lin Qiang, a garment sales manager in Shenzhen, that means working weekends.

Lin used to spend weekends at home in Foshan with his parents, wife, and 6-year-old-son. Now, he often stays in Shenzhen, trying to stay a step ahead of the global economic crisis.

"We have fewer orders, and there is always the risk of getting laid off," Lin said. "Everyone is working harder just to stay employed."

For Fan Xiaoqin, it means giving up some of her favorite pastimes.

Fan, who works for Google in Chengdu, used to like to shop for clothes or entertain on the weekend. Now, she's not in the mood.

"There's just too much stress. Our company has cut costs and introduced more performance assessments to deal with the hard times," said Fan.

"After working this hard, you should be able to relax and cut loose," she added, "but I'm afraid this is not the right time."

And for some white-collar workers like Wang Xiao, it means getting a second job.

Wang, who works for a trading company in Yongkang city, Zhejiang Province, now sells flowers and lanterns at a night market in order to make ends meet.

"At first, I was ashamed. I hid my face with my cap and covered my license plate so people wouldn't see me," Wang confessed.

"Now, I don't care. I call out to people to come buy my goods. That's what you have to do to succeed in this business," he said. Wang says he makes about US$150 a month at his second job.

Other white collar workers-turned-vendors in Yongkang have organized an association and launched a website, posting detailed accounts of their experiences selling after work.

For many middle-class families, the difficulties are not just economic. The fear of losing a good-paying job can be as stressful as actually losing it.

1   2