Year of the Snake comes with a bite for Chinese consumers facing an economic slowdown
BeijingThese days, every yuan matters to those in China who are experiencing an economic slump.
Huang Peng, a construction worker, traveled more than 500 kilometers in roughly six hours on a high-speed rail to his birthplace in Heilongjiang Province for the most recent Lunar New Year vacation.
Instead, he paid 160 yuan ($22) to sit straight for eighteen hours on a sluggish train this year. That was significantly less expensive for Huang than a bed on the slow train ($40) or even the high-speed train ($92).
The cost of living in Beijing is exorbitant, even if Huang earns more money there than he would at home.
In an interview at the Beijing Railway Station, he stated that saving money is simply very difficult.
As part of the world's largest annual human migration, hundreds of millions of pe...