Chinese businesses deal with deflation as consumers pull back (youtube.com)
Deflation inside China (meanwhile, inflation for exports to US), partially because of excess capacity within industries, everyone's offering coupons. Second hand goods selling well, once socially unacceptable. CCP trying to do price controls to keep prices from decreasing. Rent deflating also.
According to a commenter, everything is cheap in China atm, but people are out in crowds spending, the only downside being Malaysian tourists.
Commenter. 'Modern economics:
prices go up = bad
Prices go down = bad
Prices stay the same = bad'
Commenter. ‘Deflation is bad for oligarchs, but great for people.’