This excerpt, likely from a newsletter or article, explores the evolving landscape of the Chinese economy, with a particular focus on the impact of demographic shifts, specifically the decline in the young adult population known as Generation Z. The author highlights how the previous generation, the "population bonus" of robust consumers and workers, fueled rapid economic growth and a bold, experimental business approach. However, with the decrease in the younger demographic, the source argues that traditional consumption patterns are changing, compelling businesses to adapt and adopt new technologies and strategies to cater to the distinct values and behaviors of Generation Z, who are characterized by their preference for digital platforms, social consciousness, and practical consumption.