Luxury Consumption Should Be Controlled
At present the luxury consumption in China accounts for about twenty percent of the global market, and China has for the first time surpassed the United States to be the second largest luxury consumption country. After decades of hard working, the Chinese people in general live a comfortable life, and are able to pursue enjoyment-centric consumption. On one hand, it promotes the development; on the other hand, it provides endless impetus for the development of economy.
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However, enjoyment-centric consumption does not equal to luxury consumption. In theory, luxury is defined as “something that is an indulgence rather than a necessity, and is usually rare, unique and scarce.” Judging from their impact on economic development, luxury consumption is not without merit, therefore it is not prohibited. But with China’s current economic development level, the drawbacks of luxury consumption growing too fast, consuming too many resources are evident on the development of the society and economy. Only from the economic standpoint, the industrial structure in China needs urgent upgrade and there is inadequate investment in research and development needed for such upgrade; in some cities, due to inadequate investment on the public facilities, places only one street across the prosperous city center are still dirty, chaotic and poor. Therefore, China should control the luxury consumption and spend more sources into fields that can promote economic and social sustainable development like research and development, social and public infrastructure investment.
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