| | | | | | To view this email as a webpage, click here | | |  | | | | Wednesday August 28 2013 | | | | | | |
| | | The debt dragon: China consumers learn to love credit | | | A few years after finishing university, Jack Dai thought he had scored the holy trinity of success for a young Chinese man: a government job, an apartment and a wife. But he had not counted on one additional factor, less visible from the surface, that soon drove a wedge between him and his conception of the good life. To buy his Shanghai house, Mr Dai, 30, took out a hefty mortgage. Monthly repayments now swallow up half his salary. Plus he has the other expenses of Chinese middle-classdom – overseas holidays, shopping excursions, movies and restaurants. Mr Dai is hemmed in by debt. "Every second month or so, I can't pay off my credit card bill. I save nothing," he sighs.
Last in FT's three-part series on China's growing debt burden | | | | |  | | | | | | | | | | | | Unsubscribe | My Account | RSS | Privacy Policy | About Us | Help | | | | © THE FINANCIAL TIMES LTD 2013 | You have received this email because you have signed up from the NBE preference page.
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