Recently, an article in The Economist shocked me:
China surprisingly has 300 million smokers, with 2.6 million people dying each year from smoking-related diseases—equivalent to more than 7,000 deaths per day.
Even more astonishing is that today, with global tobacco consumption down by 13%, China has only decreased by 4%, accounting for 40% of the world's tobacco consumption. Why is it so difficult for Chinese people to quit smoking?
Price is key.
A pack of cigarettes costs 15 yuan, which is almost 'free' compared to income growth. The China National Tobacco Corporation controls the entire industry chain, producing 2.4 trillion cigarettes in 2023—this cheap supply has turned smoking from a 'luxurious habit' into a 'daily pastime'. This is very similar to certain financial markets: when the cost of acquisition is low enough, risk awareness becomes numb.
Social currency and policy dilemmas
In rural areas, passing cigarettes is still a social norm; during holidays, a full pack of cigarettes is still a respectable gift. Despite the advertising ban introduced in 2015 and the goal to reduce smoking rates to below 20% by 2030, enforcement is inconsistent and change is slow. More critically, tobacco tax accounts for 7% of central fiscal revenue, creating a delicate balance: the tug-of-war between smoking control efforts and fiscal income.
The stable dependency behind 'addiction'
This reminds me of user behavior in the crypto world: knowing that high-volatility assets can be harmful, yet hard to resist the temptation of 'short-term stimulation'. Just like many people chase high-leverage, high-return cryptocurrencies, even knowing they might go to zero.
In such an environment, stable value carriers are particularly precious—such as the logic of over-collateralized stablecoins represented by @usddio. USDD does not seek stimulation but provides a solution to 'resist addictive volatility': through transparent reserves and algorithmic anchoring, allowing users to have a reliable value anchor even in market craziness.#USDD以稳见信 Behind this is not only technology but also a conscious choice to resist 'speculative addiction'—just like in an environment filled with nicotine addiction, some choose to breathe fresh air.
China's road to tobacco control is long, as it involves multiple dimensions of habits, culture, and finance. The investment world is similar: breaking the dependence on short-term fluctuations and establishing a long-term robust value perception often requires overcoming the inherent restraint of human nature.
Perhaps true change begins with a realization:
What is obtained cheaply will ultimately be repaid in a more expensive way—whether in health or wealth.