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Seminar series

The China shock re-visited

Consumption behavior and political shifts

Add to calendar 2024-05-08 12:30 2024-05-08 14:00 Europe/Rome The China shock re-visited Sala Triaria Villa Schifanoia YYYY-MM-DD


08 May 2024

12:30 - 14:00 CEST


Sala Triaria

Villa Schifanoia

Join Benedicta Marzinotto as she analyses the 'China shock' in Europe, connecting radical right support with shifts in consumption patterns, global trade and more.
The paper connects the discontent often driving support for radical-right parties in Europe with changes in consumption behaviour potentially linked to trade globalisation and increased import penetration from China. Unlike the standard literature, the "China syndrome" not as a competitive but a consumption shock. Low-income groups obtain access to consumption goods they would have not been able to afford prior to global market integration (i.e. washing machines). Middle-income groups, observing their consumption behaviour becoming similar to those of low-income groups and distinct from high-income groups—who can afford (non-made-in-China) top of the line products— feel they are 'losing out' compared to other groups in the same society. This perceived decline in social status or relative material deprivation fuels resentment, possibly leading to support for radical-right parties or alienation from mainstream parties.
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