Comments by "ronnel acido" (@ronnelacido1711) on "Shanghai Banks Cut Salaries by Over 50%, 1,200 Bank Branches Closed in China Since 2023" video.

  1. The risk when a sector makes up 40% of your GDP is in display in China's current predicament. With banks heavily-exposed in the collapsing real estate, it had no choice but to take drastic measures to keep itself afloat like fiscal consolidation, pay cuts, and lay offs. More jobless and underemployment mean less consumer spending which means weak domestic economy. The dominoes are falling one by one.
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  2. Unsustainable practices are now biting them in their butts.
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  3. They may imitate Lebanon. Bank employees robbing their own banks to force them to give their salaries back.
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  4. They're sending the unemployed overseas to work on those BRI projects in Africa with higher salaries. Tbey have to hurry up, though, before Africans realize they're being fried in their own lard.
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  5. But even desperate cannon fodders want reliable and functional war gear and equipment, right?
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  6. Trudeau will not let them
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  7. The CCP just formalized the fact that in China, the citizens are slaves.
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