Rebirth: Japanese investor

   Chapter 661 China, Japan and Korea

  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 proportion of Japanese people using credit cards is low.

  In 2002, the percentage of credit card usage in South Korea was 69%, while that in Japan was only 7%. If you go back to Japan ten years ago, in the 1990s or so, then the proportion of Japanese people in the use of credit cards will be lower.

   The reason why Japan did not lead to the country's credit card bankruptcy crisis is due to its national character. It is said that the Chinese love to save money, and the Japanese love to save more than the Chinese.

  Japan is a country mainly composed of four major islands. It has always been a country with many tsunamis, earthquakes, typhoons... disasters.

  In their genes and thinking consciousness, there is a way that as long as they don't die, they have to take precautions. People cannot live without money.

   In Japan at this time, people who use credit cards are generally young people, not old people. If something really happens, it is really impossible to repay the personal debt due, and you can also turn to your parents for some financial assistance.

  2002 was a memorable year for Kishimoto Masayoshi. It was in this year that he entered university in his previous life.

   At this same time period, mainland China, South Korea, and Japan will begin to appear a new turning point for young people.

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

  This credit limit is generally between 500 yuan and 2000 yuan. At that time, the common monthly living expenses of college students in Xia were three to five hundred.

   Poor students are living expenses of one or two hundred yuan per month, or even dozens of yuan per month. Although the credit card limit was not high at the time, it was fully in line with the economic income and consumption level at that time.

  If a college student is holding a black and white screen Nokia or Motorola, it is a representative of the wealthy class among the college students.

   As for personal computers, few college students have them. Even college students with personal computers are nothing more than 3,000 yuan assembled machines.

  Why did the formal banks in mainland China finally withdraw from the university campus? One of the main reasons is that the bad debt rate is too high.

  Many college students’ credit cards are overdue, and even after graduation, they still don’t plan to pay them back. Banks cannot directly collect collections violently, so they have to collectively choose to withdraw from the market of university campuses.

   This frees up areas and soil for the survival, development and growth of various campus loans that follow. Later generations of college students always complain that there is no formal bank to provide them with credit card business, which makes them short of money, so they have to borrow higher-interest campus loans to make a turnaround.

If you want to blame them, you can only blame the credit of their former people is really "too good", so that banks are afraid to issue credit cards for college students. After all, commercial banks are for profit and money, not for charity and feelings.

  Young people have strong material desires, that's normal. No matter what era it is, the soup is not changed. Even in the years of material scarcity in mainland China, young people from their ancestors' generation were full of pursuits and longings for watches, bicycles, and radios.

  The younger generation of the father's generation has become a BB machine, the pursuit and yearning of the big brother. When it came to my previous generation, it became the pursuit and yearning of mobile phones and computers.

  The post-90s, especially the post-95s and post-00s generation of college students, pursue the pursuit of being able to drive their own private car on the university campus. It is very cool, preferably a sports car.

   Korean young people and Japanese young people are suffering at this time point, especially Korean young people. The problem they face is unequal pay for equal work compared to when their parents were younger.

   The income of young Koreans and Japanese today is significantly lower than that of their parents when they were young. Not only that, under the side effects of inflation, not only is the number of banknotes in hand not as good as before, but the actual purchasing power is even lower than before.

   Just above the age of a person's best years, but no money in his pocket, that kind of feeling is suffering. Does it cost money to fall in love?

   In Korea, as a boy, you naturally have to bear all the expenses of dating. Otherwise, you will be disliked by girls in various ways, and you deserve to be alone for the rest of your life.

   On this point, Japanese boys can have an AA system with girls or be responsible for most of the dating consumption.

   Japanese and Korean boys are not easy, and girls are not easy either. Girls in Japan and South Korea spend a lot of money on cosmetics, clothes and other consumption. They would rather eat instant noodles every day and dress up beautifully.

  If their appearance is not good enough, they will not only be disliked by boys, but also disliked by the class. Not to mention wanting to find a high-paying man or a decent decent job.

   In order to make up for the deficit in expenditure and income, family background is okay, one is that parents will secretly subsidize it, after all, they are people who have come before and they all understand.

  The second is that you don’t pay living expenses, and you can eat and drink at home for free, which can completely save a lot of expenses 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 are similar, single men and women will continue to live with their parents.

   Even if he has a job, he often does not move out to live. At most, he will give his mother some household money. Among them, there is no lack of paying 500 yuan at the beginning of the month, and at the end of the month, they will borrow from their parents and not pay back 1,000 yuan.

   Born in the middle and lower classes of society, especially at the bottom of the society, or the family with many children is often tragic. They have no better way to make up for the shortfall in personal spending than they choose to use credit cards extensively.

   Their way of comforting themselves is that their income will increase in the future, and then they will have money to pay off their card debts. In fact, that's all wishful thinking and unrealistic thinking.

   Many labor-intensive jobs in Japan and South Korea have already been transferred to mainland China. Three years from now, Taiwan will be another target of Kishimoto Masayoshi.

  In 2005, Taiwan, with a population of more than 20 million, also experienced a credit card crisis. How miserable will the Taiwanese be? Charcoal in supermarkets is prohibited from being put on the shelves.

   Too many ordinary Taiwanese were violently pursued by triads because they couldn't repay their bank card debts, and they had to buy charcoal and go back to commit suicide.

   In another ten years, the gap between Taiwan and mainland China will become smaller and smaller, until there is almost no, and even the first-tier cities in mainland China are overtaken, and there is no longer the advantage of the 1980s and 1990s. Taiwanese workers either go to Vietnam and other Southeast Asian countries to work, or they come to work in mainland China.

   (end of this chapter)