As a property slump drags on, China's economy looks more resilient than it feels

“It seems the wealthy don’t have the time, and the ordinary folks don’t have money to spend,” said Xiao. In the first 11 months of this year Chinese exports amounted to a record $3.4 trillion -- with growing shipments to Southeast Asia and Europe helping to offset a sharp drop to the U.S. -- versus imports of $2.3 trillion. A Tianjin-based tutor, who only gave his surname as Zhou as he’s not authorized by his company to speak to the media, said his income dipped by more than a third as more parents stopped sending their children for tutoring.