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China Daily | Updated: 2009-04-01 07:55
土豆现象 tudou xianxiang
Potato Effect
A term used in describing people's growing demand for cheap and low-end commodities amid an economic slump and the ever-mounting prices pushed up by such a consumption rush.
When an economic crisis comes, consumers usually cut down their spending on high-end and luxury commodities and then turn to cheaper articles of daily use, such as potato. But the expanded consumption of these daily necessities also drive up their prices. In the wake of the bursting of the bubble economy in Japan and the US, China's exports of common consumer goods to the two countries experienced a golden period, which contributed to the development of China's export-bound manufacturing sector.
(China Daily 04/01/2009 page8)
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