date:Mar 11, 2013
growth in spending on other goods and services in the economy, Carl Weinberg, the China-watching chief economist at New York consultancy High Frequency Economics, wrote in a client note.
Retail beef prices in Beijing city markets are higher compared with supermarkets outside Boston. Pork, China's staple meat, is about 50 cents/kg below the U.S. price, a Reuters comparison of standard retail prices show.
That's a direct hit on the spending power of Chinese, whose average income is about a tent