China needs its youth to spend but they are embracing frugality

China is facing a number of economic challenges and its government wants the next generation of consumers to start spending more for the good of all, but it is not having much luck convincing them to do so. A big concern for China's recent graduates is that the country is making a difficult transition from being a mass producer of cheap goods to a high-tech economy. "Of course, that's not being helped by the push to become a champion in robotics and AI because, at least for the time being, this is something of a dampener on job opportunities.