Faced with the slowest economic growth in two decades and a widening wealth gap, a small number of young Chinese are venturing into the Sharing Economy. With sky-high rents and limited opportunity in the traditional job sector, some millennials have moved into co-living spaces called You+. For as little as $500 a month, You+ residents get a private room with a bathroom, co-working space that functions as an office, and shared kitchen and entertainment facilities.
Despite the fact that Chinese Millennials have largely been a generation obsessed with consumerism and personal advancement, what’s culturally interesting is just how open young Chinese are to sharing. In a recent survey, Nielsen found that 94 percent of Chinese are willing to share, compared with just 43 percent of North Americans, making them the world’s best sharers. Of course, this is a recent and small trend given China’s enormous population, but given the rampant consumerism of the last decade, it’s certainly worth noting. Let’s see if the trend grows and the sharing economy takes hold.
How about you global maven? What’s your take on the emerging sharing economy? Do you take an Uber to the airport and put your flat on Airbnb when out of town, or do you prefer to roll old school and use taxis and hotels?
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