INET Warned Over 2 Years Ago: Spending by the Wealthy Is Distorting the Economy

The idea is finally catching on, but many still miss how deeply it’s driving inflation, masking wage losses, and complicating recovery.
Lately, you’ve probably seen headlines highlighting what some call a surprising truth: the richest Americans -- who’ve enjoyed years of income and wealth growth -- are the ones keeping the economy afloat with their spending. Meanwhile, most people struggle to keep up with rising costs.

AI and online shopping: how Shein, Temu and others get you hooked

In recent years, several websites selling ultra-low-cost goods have appeared on the French market. Shein, Temu and AliExpress, to name but a few, are shaking up the online retail landscape. According to a study conducted by BPCE Digital & Payments, the number of payment cards recording at least one monthly transaction on a discount site increased by 20% between the first quarters of 2022 and 2023.

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