rising credit card debt

The South China Morning Post newspaper headlines on Thursday September 2nd 2010 were "Warning as city's credit card debt rises". It talks about HongKongers spending too much on credit, and having multiple credit cards and only paying back the minimum amount, despite the warnings from the GFC (global financial crisis).

This is an issue in Australia also, though we have mostly escaped the clutches of a recession caused by the GFC. I wonder if it's an issue in Shenzhen also. In the city - at least in the Futian District that I've been exploring, every city block seems to have an indoor, air-conditioned, multi-level shopping centre. I've been to one called Coco Park, where we had lunch at the foodhall on Friday, and Central Walk, where we had lunch on Thursday and where I caught the train to Civic Centre today. I must admit I did go to Starbucks there and have a coffee and raison toast for brunch, but the place was pretty crowded - at least more crowded than the streets outside. It makes sense - many Australians do this too - during summer the shopping centres are the place to go to escape the heat and sun outside. Escape the humidity here also, which is a killer.


you can even buy a (Smart) car in the shopping mall - no need to brave the Parramatta Rd equivalent here!