
China Youths Find Hope in Spiritual Healing
Tarot readings, bazi consultations, and crystal healing are booming in China as disillusioned youth seek hope amid a sluggish job market and falling wages. In Beijing, bars and cafés now pair coffee or whiskey with fortune-telling sessions. The pan-mental health market is projected to reach $1.5 billion next year, according to Frost & Sullivan. But the rise of this 'superstition economy' is drawing scrutiny from authorities, Bloomberg's Minmin Low reports from Beijing. (Source: Bloomberg)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Bloomberg
28 minutes ago
- Bloomberg
Temu's US Sales on a Losing Streak on Tariffs, Ad Spending Cut
Temu continued to suffer double-digit sales drop in the US as the online marketplace cut spending on advertising, adding to a slump caused by tariff-induced hike in product prices since April. The discount shopping app owned by PDD Holdings Inc. first saw a drop in sales after it added import duties to goods shipped directly from China in late April, according to Bloomberg Second Measure, which analyzes credit and debit card data. Import duty on shipments from China rose to 54% in early April and subsequently surged to as much as 145%.


Bloomberg
33 minutes ago
- Bloomberg
Morgan Stanley Says Hong Kong's Housing Sector Is Bottoming Out
Hong Kong's residential property market is poised for a recovery after enduring a seven-year downturn, according to Morgan Stanley. Home prices in the city are set to bottom out, driven by an influx of mainland Chinese buyers, improved capital markets and a recent plunge in interest rates, analysts led by Praveen Choudhary said in a report dated June 19.


Bloomberg
39 minutes ago
- Bloomberg
Japan Won't Fixate on July 9 in US Trade Talks, Akazawa Says
Japan won't fixate on the looming date that could see so-called reciprocal tariffs rise in its ongoing trade negotiations with the US, Tokyo's top negotiator said, signaling the Asian nation stands ready for the possibility that the talks will drag on. 'To avoid any misunderstanding, I would like to confirm that I have not said at all that July 9 is the deadline for negotiations between Japan and the US,' Economic Revitalization Minister Ryosei Akazawa told reporters on Friday in Tokyo. 'Japan and the US are in regular communication through various channels, and we will continue to consider what is most effective and engage in appropriate consultations.'