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According to the New York Post, inflation has put heavy economic pressure on New Yorkers, making them feel increasingly strained with daily expenses. Experts point out that Americans spend $709 more per month on general goods than they did two years ago. In New York City, where prices are skyrocketing, many people can't even afford basic food. In response to rising food costs, some New Yorkers choose to shop at discounts, while others choose less healthy foods. New York reporters interviewed New Yorkers from all walks of life, revealing the impact of inflation on their lives.
Cardonne, a professional magician, said he and his mother could only look for discounted items to fill their refrigerators at the supermarket, but because the nearby store where they lived never offered discounts, they had to drive further afield. "We found that the bill has almost doubled, and now the price of everything is going up, but the weight is getting less," he said. For example, there used to be twelve biscuits in a box, but now there are only four. Cardone, 49, also said that this inflation has not only made the price of food and daily necessities, but even basic pastimes such as watching movies more and more expensive. Even the poor used to think movie tickets were cheap and used to be the cheapest pastime. Why is this happening today? Now some price increases are no longer reasonable, I really can't understand.
His 76-year-old mother, Foran, said it used to cost about 100 yuan to go to the supermarket, but now it costs 225 yuan to buy the same amount of food. Rodriguez, a 39-year-old fashion boss, observed the rise in ketchup prices at the Whole Foods supermarket on the Upper West Side and used it to predict inflation. He said at supermarkets on 97th Street and Columbus Avenue that ketchup used to cost about five dollars, but now it costs about seven. In addition, the price of chicken breast is too high.
Sanders, 75, worked in supermarkets for 29 years. He said that the price of food has skyrocketed, forcing him to give up certain foods altogether, even affecting his health. I don't eat that much meat now because I simply can't afford it. I knew my kidneys were not in good condition, but I couldn't maintain a good nutritional balance. A dozen eggs cost at least five dollars, which previously sold for only $3.99, and the price of meat has also risen. I couldn't eat proper food because basically I couldn't afford it.
Geist, who is currently unemployed, said that even the two rabbits in the family have been affected because of rising prices. He said that the cost of feeding his pets is getting higher and higher, and recently he switched to parsley to save money because his rabbits love lettuce, but for him the price of organic products such as lettuce is rising. Previously, a lettuce cost $1.99, now it's $3.59. Guest also said that the price of the feed he uses to keep his rabbits has also increased in the past two years, but he is determined not to let inflation affect the health and nutrition of his pets, and he even admits that rabbits eat better than he does. But he also joked that if the situation continued to deteriorate, he might have to rob and steal. He stressed that it would only be done within reason, and for the benefit of the rabbit. I'm not going to run out with a piece of prime ribs and make a statement.
Mr. Lucher, 72, said money is not as durable as it used to be, and a $100 bill seems to be worth only $20.
Is inflation in New York good or bad for China?
First, the good thing about New York inflation for the Chinese economy is that it offers tremendous opportunities for China's export markets. Since New York is an important transit point and consumer market for global trade, a persistent inflation phenomenon can lead to a depreciation of the dollar, which may prompt overseas buyers to increase demand for Chinese products and expand the export market to a certain extent. For China, this is a welcome effect, which can promote the growth of export trade and enhance international competitiveness.
Second, the downside of New York inflation to the Chinese economy is that it may exacerbate the risk of inflation transmission. New York is an important part of the global financial market, and its inflation will have a ripple effect on the global financial system, which may lead to higher international oil prices and soaring commodity prices, thereby driving up China's import costs. And if China fails to respond effectively to this challenge, inflationary pressures could intensify, adversely affecting domestic businesses and consumers, which in turn slows economic growth.
In addition, inflation in New York may also provide some economic opportunities by accelerating the flow of foreign capital into the Chinese market. In the face of inflation in New York, some international investors may turn to emerging markets such as China for more investment opportunities. For China, this may bring more foreign capital inflows, bring capital and technology support to domestic manufacturing and service industries, improve the industrial structure, and promote the optimization and upgrading of the economic structure.
However, we cannot ignore the negative impact of inflation on society and consumers. Inflation means rising prices, which increases the cost of living for residents, especially those in cities where the cost of living is higher. As the world's largest developing country, China has a large low-income population, and high inflation may exacerbate the gap between rich and poor and increase social instability.
To sum up, inflation in New York has both advantages and disadvantages for the Chinese economy. In terms of benefits, it provides opportunities for China's exports, attracts foreign capital inflows and promotes the optimization and upgrading of the economic structure. However, inflation also poses certain risks to the domestic economy and may increase social instability. Therefore, China should implement proactive regulatory policies to balance interests and seek the best path to economic growth.