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This article evaluates the role and importance of psychology in consumption. Different psychological states emanating from the 2008 global financial crisis were modelled in this analysis. Using Chinese household survey data (N = 10,043), the consumption of both employed and unemployed Chinese consumers was shown to be significantly correlated with changes in the psychological states (such as mental accounting, emotion, optimism and perception) wrought by the crisis. An implication is that public policies, including the provision of social safety nets and income protection measures, may help to allay these psychological stresses and hence their adverse consumption impacts. (GIGA/China)

This paper shows that the contagion effect brought about by the global financial crisis hasgiven rise to a series of individual and family problems. This result is strongly supported bytheoretical and empirical evidence. It also points out that family law in China, despiterevisions to it over the past decade or so, appears to be inadequate to address the issues onmarriages, among other things. Several approaches for reducing the negative impacts onindividuals and family units have been proposed. Firstly, family mediation is found to beuseful for stemming the social consequences arising, for instance, from separation or divorce.It is found to be especially useful during an economic crisis. Given the extensiveness of theproblems and that even 'good' family law has its limitations, broader public policy solutionsseem to be warranted. (J Contemp China/GIGA)