While Americans worry about inflation and affordability, the Chinese are fretting about deflation and a down economy.
To get a sense of Chinese consumer confidence today, visit Beijing toy seller Gao Lan, where a frowning horse plushie is selling out for the Year of the Horse.
According to state media, a factory worker mistakenly sewed the toy’s smile upside down, creating a runaway hit in China referred to as “the crying horse.”
“Nowadays, there is so much stress in our society,” Gao said. “The crying horse reflects how people feel inside.”
The popularity of the horse is just one indication of a gloom in Chinese society that appears to be building as the economy slows and people feel less certain about the future.
