Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer"
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💥 A series of construction disasters, known as tofu drag projects, have been occurring in China, resulting in deaths and injuries.
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On September 13th, a crane collapse happened during the elevation process at the Jinen Ren Expressway Bridge Project, causing six deaths and five injuries.
Multiple layers of subcontracting and cost reduction in construction projects are believed to be the cause of these disasters.
In July 2023, a 32-story building in Shinau Hunan experienced a massive exterior wall collapse, injuring pedestrians and damaging vehicles.
💔 The collapse of a school gymnasium roof in China resulted in 11 deaths, sparking outrage among citizens and criticism of the government's response.
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Local government's inadequate response ignited widespread outrage.
Construction company's negligence in storing expanded perite on the roof led to the collapse.
Parents expressed dissatisfaction with authorities and hospital for lack of communication.
🏢 China witnessed a significant land erosion incident in a residential community, causing buildings to lean and collapse.
05:41
Land erosion incident in China's Phoenix court community caused buildings to lean and collapse.
Authorities attributed the ground subsidence to a sudden geological disaster possibly related to shallow soil erosion.
The daily economic news removed all reports related to the incident at the Country Garden property.
⚠ Country Gardens construction site in China is compromising construction quality and safety standards by working in heavy rain and rushing to meet deadlines.
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Construction in China is often rushed to meet deadlines and cut expenses, leading to compromised safety and quality.
Country Gardens construction site disregards construction norms and works in heavy rain, compromising concrete strength.
In 2008, the Sichuan earthquake revealed the dangers of rushed construction as many buildings, including schools, were damaged or collapsed.
🏢 China's hasty construction projects and infrastructure loans raise safety concerns and magnify earthquake damage.
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Nearly 70,000 victims were reported, with 20,000 students perishing in collapsed school buildings.
China's hasty construction projects cannot withstand earthquakes, making their structures inherently flawed.
China's infrastructure loans amounted to the sum of all other government loans combined.
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📦 Chinese companies are using deceptive transshipment practices to evade US tariffs.
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Chinese exporters process their goods in China and then ship them to a country with lower tariff rates to avoid tariffs.
European and American customers are primarily concerned with whether factories are located inside or outside China.
Chairman Mike Gallaher requested a thorough investigation into the trade fraud practices of Chinese companies trying to evade US tariffs.
🌍 Chinese solar panel suppliers are avoiding anti-dumping tariffs by processing their products in Southeast Asian countries before shipping them to the US.
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Major Chinese solar panel suppliers, including BYD Artis Solar, Trina Solar, and Venus Solar, have been found to be avoiding existing anti-dumping tariffs by processing their products in Cambodia, Malaysia, Thailand, or Vietnam.
New East Solar will face tariffs as the company refused to cooperate with an on-site audit of its operations in Cambodia.
US solar panel exports in the first quarter of 2023 increased significantly, with Vietnam accounting for the largest share followed by Thailand, Malaysia, and Cambodia.
💡 Numerical models can effectively predict potential business fraud among Chinese companies, suggesting the need for enhanced transparency in the international supply chain.
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The top 20% of companies with the highest risk scores comprise 71% of firms with actual violations discovered by the Chinese government in 2013.
The combination of sensory devices and blockchain technology can create a reliable digital transaction record at every step of the supply chain.
Obtaining accurate and timely information on physical supply chain transactions is challenging, especially in the case of Chinese enterprises under Communist Party rule where fraudulent activities are widespread.
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💼 Several major financial institutions, including Vanguard Group and BlackRock, have withdrawn from the Chinese market.
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Several other financial institutions have also exited the Chinese market.
BlackRock closed its China flexible wealth fund.
Vanguard Group, America's largest fund management company, has officially exited the Chinese market.
💼 Canadian pension funds are withdrawing from China due to the negative impact of China's COVID-19 policies on the economy.
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The fund's net assets amount to 570 billion Canadian dollars with a 10-year nominal net return rate of 10%.
The United States accounts for the largest share of the fund's investment at 36%, followed by Asia Pacific at 26%.
Other Canadian pension funds, including the Ontario teachers Pension Plan and cdpq, have also withdrawn from China.
📉 Experts believe that China's current economic situation meets several signs of an imminent financial crisis, which may worsen due to temporary suppression of information and administrative intervention.
07:48
The US-China trade war triggered systemic financial risks in China.
The three-year pandemic and collective default of real estate developers unveiled systemic financial risks in China.
The Federal Reserve's consecutive interest hikes and the bursting of the real estate bubble further worsened the financial situation in China.
🚫 Foreign businesses are becoming increasingly apprehensive about operating in China due to strict regulations and safety concerns.
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Foreign businesses are considering leaving China quickly due to commercial and personal safety concerns.
Chinese authorities barred a chairman of an investment banking company from leaving mainland China, confirming industry concerns.
The introduction of China's anti-espionage law has led to sell-offs of mainland Chinese stocks by foreign institutions and accelerated their withdrawal from the Hong Kong stock market.
📉 China's increasingly opaque practices in publishing corporate and economic data are driving investors away from the country.
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China is turning into a black hole of investment information, with frequent restrictions on foreign businesses obtaining local economic data.
Obtaining data in China has become more difficult, leading to a drastic reduction in research time on Chinese stocks for investment firms.
Chinese officials have stopped publishing detailed financial data and real-time information on unemployment rates and mutual fund net asset values.
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"The Decline of Dongguan's Manufacturing Industry: Three Big Factories Close in 20 Days, Impact on Local Economy and Employment"
🏭 The decline of manufacturing industry in Dongguan, China.
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Dongguan's manufacturing industry is undergoing a massive transformation, with many factories standing deserted and shut down.
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The economic rise and fall of Dongguan is largely attributed to its heavy reliance on foreign trade and foreign investments.
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Large contract factories like Foxconn and major electronic, shoe, and garment manufacturing plants have either relocated or shut down in Dongguan.
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Recent closures of well-established factories in Dongguan due to plummeting orders, financial deficits, and operational losses.
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The closures include Jung Shing electrical appliances, Shaming industrial, and Hbang metal and plastic products Co LTD.
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These closures have led to unpaid employee wages and the decline of Dongguan's manufacturing industry.
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Dongguan's once vibrant manufacturing hub is now facing economic decline and challenges.
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📉 The video discusses the closure of three large factories in China and the challenges faced by small and foreign trade factories due to economic downturn and international conflicts.
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Three large factories in China ceased production from October 31st to November 20th, 2023.
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The closure indicates economic decoupling between China and Western countries, leading to distrust and challenges for small and foreign trade factories.
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Business owners express concern about survival due to shrinking domestic market and worsening economic situation.
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Factory workers are experiencing idled machines, lack of work, and reduced export orders, leading to potential closures.
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The global economy has been significantly impacted, leading to closures primarily among low-end manufacturing.
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💔 The decline of manufacturing factories in Dongwan and the impact on the local economy and employment.
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Thousands of businesses in Dongwan shut down in 2022, with a wave of closures continuing into 2023.
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Several long-established factories, including Alco Electronics and U Shoe Factory, announced closures due to losses and dwindling orders.
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The chairman of Alco Group ended his own life after facing substantial losses.
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U Shoe Factory, once a major player in the global shoe industry, gradually declined since 2012.
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📉 The decline of manufacturing in Dongan, China, leading to factory closures and economic impact on surrounding industries.
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Dongan's manufacturing industry has experienced a gradual decline, with many factories closing or relocating.
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China's export numbers have decreased, particularly in processing trade, indicating a downward trend.
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Industry insiders predict a significant number of factory closures in the near future.
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Many factories are struggling to survive, leading to reduced workforce and early Chinese New Year holidays.
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The closure of large factories has impacted surrounding service and retail industries, leading to closures and reduced business.
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The departure of workers from the factories has severely impacted the catering and retail industries in Dongan.
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The industrial decline has led to a quiet and struggling business environment in the area, with many storefronts closing down.
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💔 The decline of Dongan's manufacturing industry and the reasons behind it.
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Decline in orders due to US-China trade war and shifts in industrial chains in European and American countries
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Withdrawal of foreign investment, especially Taiwanese businesses, due to geopolitical influences
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Rising costs, including rent and wages, leading to higher production costs and reduced profits for factories
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Market competition from manufacturing industries in Vietnam, Southeast Asia, and India intensifying pressure on Dongan's factories
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Industrial upgrading policies in Guangdong Province leading to closure or relocation of some businesses unable to adapt
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Gradual economic decoupling between Western countries and China as a significant irreversible trend
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Dongan's transformation from a world-renowned manufacturing hub to a desolate area with dilapidated factories and empty streets
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😔 The once-thriving Chapo Road wholesale market in Shanghai has now become a desolate and empty place, with many shuttered shops and remaining businesses struggling to make any sales.
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Chapo Road wholesale market used to be bustling with crowds, but now sees many shuttered shops and remaining businesses experiencing days with zero sales.
The impact of the pandemic on the physical economy is truly significant, with the market now much less crowded and many shops empty and abandoned.
Half of the storefronts at Chapu Road wholesale Market are unexpectedly available for rent, indicating the market's decline in former glory.
🛍 The clothing retail industry in Kaai Chungam and nearby markets is struggling, leading to a significant decrease in customers and stagnant inventory.
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Over 100 shops on the third floor of Lanfu Fashion City are now closed or turned into warehouses, with only a few still operating.
The downturn in business at Chipu Road reflects the broader challenges faced by the entire brick and mortar clothing retail industry.
The clothing wholesale market is at a standstill, with no business since November, leading to a lack of confidence in the market.
📉 The apparel industry experienced significant downturns and widespread store closures in 2023, leading to financial losses for major companies.
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Apparel industry experienced significant downturns and highest number of brick and mortar store closures.
PEBG Group Company Limited experienced a 21% drop in revenue and reported its first loss since going public.
Peace Bird and Halen Home both faced rapid decline and significant store closures, indicating negative growth in the first quarter of 2023.
💼 The high-end clothing brand Jang G has declared bankruptcy as a result of declining sales and insufficient order volumes, leading to its parent company Rui Group facing a significant crisis.
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Jang G's rapid collapse due to insufficient order volumes and unclear future plans from Rui Group
Rui Group's significant decline in performance and financial crisis since 2018
Rui Group's current market value decline and total liabilities reaching 1.9 billion Yan $264 million
📉 The Chinese men's trousers industry is experiencing a significant decrease in revenue and profits, leading to a challenging market environment.
13:26
Operating revenue of leading companies in the industry decreased by 14% in 2022
Net loss attributed to shareholders of a listed company for the first time since its stock market listing
Apparel and clothing sector in China is facing a decline in profits and an increase in debt
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Fake Fire Extinguishers & Hydrants, Life-Saving Equipment Has Become Mere Decoration in China: Counterfeit Products and Non-Functional Safety Measures Jeopardize Fire Safety in Residential Communities and Public Places
🔥 Counterfeit fire extinguishers pose a serious threat in China, with fake products being sold online and even impostors posing as firefighters to sell overpriced equipment.
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Counterfeit fire extinguishers with fake pressure gauges and solid contents are being sold in China.
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A video of a failed fire extinguisher during a drill highlights the issue of counterfeit products in China.
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Counterfeit goods are prevalent in the Chinese market, including firefighting equipment.
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Multiple incidents of fake fire extinguishers failing to work have been reported.
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Impostors posing as firefighters sell overpriced fire extinguishers and equipment to businesses.
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😱 Fire safety in China is severely compromised, with fake fire extinguishers and non-functional fire hydrants in residential buildings.
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Firefighters had to rely on water from the fire truck and handheld extinguishers to put out a fire in a residential building in Shenzhen.
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Residents revealed that fire hydrants in a large residential area had been dry for many years.
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Faked fire extinguishers and non-functional fire hydrants are common in residential communities in China.
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The responsibility for fire safety lies with property developers, management companies, and the local fire department.
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Inspections for fire safety in residential buildings are often a mere formality, with bribes ensuring approval.
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🔥 Fire safety measures in residential communities and public places are inadequate, with fake fire alarms and hidden cameras posing serious risks.
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Lack of regular maintenance and damage to fire safety facilities in residential communities.
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Older neighborhoods with messy wiring that can easily cause fires.
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Chaotic management of older neighborhoods leading to parking congestion.
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Inadequate fire safety measures in public places like hospitals, restaurants, and markets.
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Fake fire alarms and hidden cameras disguised as smoke detectors in hotels and public places.
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🔥 The fire at Changfeng Hospital was caused by low clearance of the overpass, lack of fire facilities, and sparks from welding during renovation works.
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The low clearance of the hospital's overpass prevented fire trucks from entering.
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The hospital lacked fire facilities that could provide water.
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The fire was caused by sparks from welding igniting volatile substances in flammable paints during the hospital's renovation process.
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Changfeng Hospital took no precautionary measures and continued to operate normally during renovation works.
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Counterfeit safety helmets are being distributed to construction workers while supervisors wear authentic and high-quality helmets.
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😱 Homeowners in Suzhou's Jinxiu Lanshan community are facing the devastating reality of living in toxic buildings due to contaminated soil.
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The soil where their homes were built is contaminated with carcinogenic substances exceeding safe limits by 50 times.
Those who bought homes but haven't moved in yet face significant financial losses due to unfinished construction or plummeting property values.
Secondary market prices have dropped to as low as 5,000 yuan per square meter, an 86% decrease, following the revelation of the toxic land.
🚫 The Suzhou Green Coast project, once hailed as a million-square-meter urban complex, has become a ghost town due to a 'toxic soil' incident.
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The 'toxic soil' incident has resulted in the suspension of sales for 2,800 residential units and the whole regional project becoming vacant.
The area is marked with warning signs stating 'pollution risks' and the project appears overgrown and desolate.
The incident was first brought to light by the British Reading School, and the project was initially positioned as high-end but now faces major issues.
🏢 Jiangsu Sugang Group responds to 'toxic land' incident involving pollution in coking area of Plot No. 4.
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Pollution in coking area mainly concentrated in a part of Plot No. 4.
Remediation conducted by Suzhou Green Coast to restore polluted area.
Jiangsu Sugang Group provides explanations on disclosure, testing, Plot No. 2, and construction operations.
🏭 The video discusses a toxic soil incident in China involving the Lujiazui Group and the local government's practice of turning polluted land into treasure.
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Lujiazui Group bought land using funds from their trust fund, which is due for payment this year but they are unable to pay.
Lujiazui Group is trying to shift the blame and win a lawsuit against Suzhou Steel Group to get the money to pay back.
The toxic soil incident reveals the complexity and extent of land pollution cases in China, as well as the local government's practice of converting polluted land into valuable assets.
🏢 Buying properties on toxic land in Suzhou poses a direct threat to life and has escalated to an international level.
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The purchase of properties on toxic land in Suzhou is worse than buying unfinished buildings as it poses a potential threat to life.
Both Susteel Group and Lujiazui colluded to cheat the common people and are now facing a massive claim for damages.
The discovery of land pollution and carcinogens at an international school has escalated the issue to an international level, with Lujiazui seeking billions in compensation.
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👴👧 Chinese youth are engaging in retrostyle consumption activities typically associated with the elderly, such as dining at affordable community cantens and joining sunset travel groups.
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Young people are attending piano classes at elderly universities alongside older individuals.
The affordability of these elderly piano classes is attracting young people.
The classes now have a mix of both elderly and young participants.
! Young people working outside face immense pressure and economic burden, leaving little room for dreams and love.
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A young woman faced harsh realities in her job postgraduation, including extended forced overtime and a mental breakdown.
Many young people are unemployed and struggling to find work, adding to their life's pressures.
The overwhelming economic burden and meager salaries have stripped young people of everything, leaving little room for dreams and love.
! The mall in Shanghai is almost empty, reflecting the tough times for physical stores due to the slumping economy.
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The mall is almost empty, even during the typically busy time.
Many shops in the mall are shut, and there are hardly any customers.
The down Center on the second floor has suddenly closed, and there are few customers in the remaining shops.
! Aquatic product prices increase by 0.5% while lamb prices hit a low point due to reduced consumption and financial constraints.
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Mutton prices are at their lowest in recent years due to decreased daily consumption and financial constraints.
Core inflation in October slowed to a mere 0.6% year-on-year growth.
😔 Increasing discontent among the Chinese populace due to concerns about the sluggish economy and troubled real estate market during the zero covid policy period.
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Widespread discontent with the Chinese Communist Party's zero covid policy led to protests across various regions in China.
Chinese adults believe their society is filled with discontent and fatigue under Xi Jinping's prioritization of security, shifting focus more towards economic development.
Domestic challenges in China and their consequences have led to a softening in attitudes towards the west, with a 9% decrease in the proportion of Chinese adults viewing the United States positively.
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Chinese Elderly Take a Stand: 80 Million Refuse to Pay Pensions, Prompted by Financial Struggles and Lack of Government Support
😔 Elderly vendors in China continue to work despite their age due to financial constraints and lack of government support.
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The 79-year-old vendor relies on selling vegetables and his pension to make ends meet.
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The elderly man pays his medical bills out of pocket and recently spent thousands of yuan on treatment.
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The aging population in China is rapidly increasing, leading to issues surrounding aged care.
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The one-child policy in China has led to a burden on the middle-aged generation who have to support both sets of parents.
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Many people born in the 80s and 90s are constantly at the hospital accompanying their parents and children.
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💰 China is facing a retirement wave as the post-1960s generation retires, leading to inadequate pension funds and wealth disparities.
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China will face its largest-ever retirement wave in the next decade, with the post-1960s generation retiring at an average rate of 20 million people per year.
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The shrinking employed population and growing elderly population in China lead to inadequate pension funds.
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Around 38 million people in China have suspended their pension insurance, and 43 million have completely withdrawn.
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The situation poses risks to social stability, exacerbates wealth disparities, and reflects public dissatisfaction with government public services and social investments.
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Many people lack optimism about future economic prospects and prefer to focus on their present living conditions.
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📊 The pension system in China has significant disparities between government employees, enterprise workers, and rural residents, with government retirees receiving much higher pensions.
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In Yingtan, the average monthly pension for government employees is 5,080 yuan, while enterprise retirees receive 2,368 yuan, and rural retirees receive only 207 yuan.
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Similar disparities exist in Changchun, where government and public institution pensions are 1.8 times higher than those of enterprise employees and 41 times higher than rural residents.
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The average monthly pension for urban retirees in China is 3,326 yuan, while rural retirees receive only 179 yuan.
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There are approximately 130 million rural elderly people aged over 60 in China, and their pensions are significantly lower than their urban counterparts.
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The CCP's pension system lacks adequate support for the rapidly aging migrant worker population.
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😔 Migrant workers in China face inadequate retirement benefits and lack of pension support, leading to delayed retirement age and hindrance to young labor.
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Rural hukou prevents migrant workers from enjoying better retirement benefits available to urban salaried workers.
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Inadequate social security payments for migrant workers, averaging between 100 yuan and 200 yuan per month.
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China's pension system has a problem of not being able to cover expenditures, with 70% of provinces outliving their pension funds.
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Reduction in medical benefits for the elderly, affecting over 300 million urban residents.
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Protests by retirees demanding the roll back of measures to reduce health benefits in Wuhan, Dalian, and Guangzhou.
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😔 Retired workers in China are protesting against a reduction in their medical insurance benefits, which they argue is a breach of contract and leaves them unable to afford necessary healthcare.
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The medical insurance amount for retired workers in China was cut from 320 renminbi to 160 renminbi, causing widespread dissatisfaction.
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Retirees argue that the reduction in medical insurance benefits is not only illegal but also a breach of contract.
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Many elderly people rely on this small amount of money for healthcare expenses, but the new policy is insufficient to cover even basic needs.
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There is widespread dissatisfaction among the Chinese public due to inadequate medical insurance benefits, and protests are unlikely to settle down easily.
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China's aging population is increasing, with estimates suggesting that by 2035, the elderly population will exceed 400 million, constituting over 30% of the total population.
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📉 China's pension funds may be depleted by 2035, exacerbating the youth unemployment crisis.
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China's pension funds might be depleted by 2035, according to a report.
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China's government is encouraging older workers to re-enter the workforce to bridge the pension gap.
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Promoting employment among the elderly may worsen youth unemployment in China.
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Chinese youth unemployment rate exceeds 21%, much higher than the OECD average.
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As youth unemployment rises and wage-earning individuals decrease, contributions to the pension fund will diminish.
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🇨🇳 China accused of eavesdropping on EU leaders during EU China Summit, causing rift in relations.
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Charles Michel cut his Beijing trip short due to alleged monitoring of EU leaders' communications by the Chinese Communist party.
Eavesdropping allegations surfaced just before the summit, leading to a denial from the Chinese government.
Professor interprets Michel's early departure as a strong signal of the EU's stance.
🕵♂ China's significant investment in internet eavesdropping and surveillance, including using fake mobile base station signals and infiltrating cloud servers, raises concerns about potential intelligence gathering and access to sensitive data.
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China's use of liar technology in various industries and its classification as a strategic emerging industry
Growing concerns in the US about Chinese liar companies potentially accessing sensitive data, including military systems data
Calls for a review of Chinese liar companies and consideration of adding them to the sanctions list by the US House of Representatives
👁🗨 The surveillance system in China, utilizing facial recognition and AI, was hacked, exposing the personal information of millions of individuals, including foreigners.
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Surveillance system in China monitors both citizens and foreigners using facial recognition and AI.
Hacker attack in 2020 exposed over 1 million surveillance records, including personal information of over 5,000 foreigners in Shanghai.
Personal information of influential Australians and senior executives from various companies was stored in the hacked database.
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Deceptive Practices in China: Dyed Livestock and Food Items Leading to Harmful Effects on Health and Market Value
🐄 Deception in livestock and food industry: dyed cows, pork, fish, and chili peppers in China.
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Livestock farmer discovers dyed black and white calves turning red and white.
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Incidents of dyed cattle reported in China, with court cases and mediation.
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History of fraudulent practices including dyed cows, pigs, and dairy cows.
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Bloggers creating educational content to help people spot dyed cattle.
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Tips for identifying dyed cattle and other dyed pets.
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🐟 Deceptive practices in China involve dyeing animals and food items, leading to harmful effects on their health and market value.
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Dyed animals and food items suffer health issues and premature death.
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Various methods of dyeing animals and food items are used, with dye injection being the most harmful.
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Dyed animals, such as chicks and turtles, are often sold as pets and suffer from pre-existing issues and health problems.
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Dyeing of pets, including fish, parrots, and small dogs, leads to toxicity and discomfort.
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Dyeing of meat, seafood, and vegetables is also common in China to enhance their appearance and market value.
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Dyeing of fish, such as yellow cokers, involves the use of harmful substances to make them appear fresher and more attractive.
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The use of harmful dyes in food items is confirmed through inspections and testing.
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🎨 Deceptive practices in food production and processing in China involve dyeing various food products to enhance their appearance and market value.
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Alarming use of industrial dye in food production
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Health risks associated with excessive ingestion of dyed substances
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Prohibition of non-edible substances in food
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Reports of deceptive dyeing of fish for higher profits
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Artificial coloring of farm-raised salmon to mimic wild salmon
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Use of artificial dyes in various types of fish and meat products
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Discovery of illegal meat processing facility using red dye on pork
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🚫 Food fraud and safety issues in China revealed through counterfeit meat, chili peppers, and noodles.
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Carmine not allowed in meat products, questionable fire safety measures, and unsanitary cold storage room.
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Lack of business license, unregulated production environment, and questionable sourcing of goods.
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Corruption of moral values leading to illicit food operations and widespread counterfeit food products.
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Major case of counterfeit beef distribution involving multiple stores and cross-regional network.
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Discovery of counterfeit chili noodles production using corn husk and industrial dye.
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🚫 Food contamination scandal in China involving Sudan 4 dye, highlighting ethical concerns and CCP's role in undermining societal values.
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Sudan 4 dye used in food products
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Red hot duck egg incident in 2006
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Discovery of Sudan 4 in duck eggs
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Nationwide uproar and public awareness
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Resurgence of Sudan 4 in food items
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CCP's role in undermining moral standards
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Challenges in upholding integrity
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📉 Hong Kong's economy faces decline due to political events, pandemic, and emigration, leading to deserted streets and closed businesses.
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Hong Kong's economy declined due to political events and pandemic lockdowns
Emigration of elite class resulted in billions of Hong Kong dollars leaving the city
Downtown streets are deserted, with closed and empty shops, reflecting the significant economic decline
💔 Hong Kong's economy suffers as CCP's influence grows, leading to record-high bankruptcy filings and stagnant stock market. Chief Executives align with Beijing's directives.
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Record-high bankruptcy filings and stagnant stock market in Hong Kong
CCP's influence leading to economic downturn in Hong Kong
Chief Executives aligning with Beijing's directives
🌏 Taiwan rejects CCP's pressure on economic cooperation, deepens international relationships, and remains confident in autonomy.
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Taiwan rejects CCP's pressure on economic cooperation
Taiwan deepens international relationships
Taiwan remains confident in autonomy
📈 Taiwan's economy thrives as it rejects CCP, while Hong Kong's economy sinks due to loyalty to CCP.
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Taiwan's trade surpluses with the US and Asia reach record highs, nearly matching the surplus with mainland China and Hong Kong.
Taiwan's stock market index rises significantly, with foreign capital returning and strategic positioning by foreign investors.
Taiwan's unwavering stance against CCP allows it to achieve the highest per capita GDP in East Asia, while Hong Kong obediently integrates into CCP's markets.
🌏 Stark contrast between Hong Kong and Taiwan's economic paths due to CCP loyalty and rejection, with insights from Argentine president on dangers of socialism.
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Argentine president highlights dangers of socialism leading to economic disaster
Taiwan's clear-sighted rejection of CCP leading to economic growth
Hong Kong's population flight and lack of trust in CCP-controlled future
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😔 A 37-year-old UI designer in Wuhan is struggling to find a job after being unemployed for over a month.
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Started a music training institute in Shenzhen, but had to shut it down due to the pandemic
Feeling discouraged after receiving a low salary offer in a job interview
📉 Pikachu, a recent graduate in China, struggled to find employment in the midst of economic downturn and faced intense competition for limited job openings.
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Pikachu resigned from a state-owned company due to family circumstances and faced difficulty in finding a new job
He experienced firsthand the pressure of economic downturn when applying for community job with intense competition
The internet industry decline is intensifying with many big Chinese companies planning layoffs
📉 Many businesses are facing closures and declines in orders, leading to early holiday breaks for employees and a shift in the traditional Chinese New Year travel rush.
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Many businesses are struggling and facing closures
Employees are taking early holiday breaks due to less demand for products
The traditional Chinese New Year travel rush is shifting due to layoffs and unemployment
💼 Ren sh ya faced challenges in closing his business in China, leading to financial struggles for his employees.
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Ren sh ya decided to liquidate his business in China, leading to layoffs and financial difficulties for his employees.
Employees struggled to find similar positions elsewhere and faced significant income reductions.
Ren sh mentioned a close friend in the real estate industry whose situation drastically changed before and after the pandemic.
💼 The video discusses the challenges faced by businesses in China under Xi Jinping's leadership, including the impact on state-owned and private enterprises.
13:49
Many businesses in China, including Tasha Quinn's, are struggling and facing the pressure of closing down due to economic challenges.
Xi Jinping's focus on strengthening state-owned enterprises and promoting an assertive international approach has led to Western isolation and high-tech blockages.
The Chinese economy has been severely damaged by three years of harsh zero COVID policy, with state-owned enterprises experiencing a 10% annual investment growth rate in 2022.
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🏆 China is hosting the 19th Asian Games in Hangzhou, Zhejiang from September 23rd to October 8th, showcasing Chinese culture and sports enthusiasm.
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The Asian Games is the first major international event hosted by China post the pandemic and the largest-scale competition in China in the last decade.
Hangzhou made extensive preparations, including the construction and renovation of venues and urban infrastructure projects.
Streets were decorated with vibrant colors, Asian Games flags, and banners to ensure the success of the event.
🥱 Many Chinese citizens showed indifference towards the Hangzhou 2022 Asian Games due to economic struggles and discontent with government expenditures.
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Chinese citizens were not enthusiastic about hosting major events like the Asian Games.
Hangzhou residents expressed discontent with the government's massive expenditures on the games.
Over 200 billion yuan was spent on transport infrastructure and competition venues for the games.
💰 China's economy post-pandemic is facing challenges with reduced spending, increased savings, and unresolved risks in the real estate sector.
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A desolate mall in Hangzhou's central area is struggling with business despite having a large number of residents nearby.
Yi Gang highlights China's economic challenges including reduced spending, early loan repayments, unresolved real estate risks, decreased infrastructure investment, and employment issues.
Guangzhou's temporary job market is flooded with thousands of job seekers.
🏢 The economic boost promised by the Asian Games in Hangzhou may not be significant, and the event may not solve the economic issues of the common people.
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A restaurant owner in Hangzhou complained that despite the Asian Games, customer turnout had not increased.
Johnny Y.S. Lau believes that the Asian Games won't alter the struggling economic tone of mainland China.
Analysts suggest that China's significant investment in hosting international events may be focused on expanding political influence rather than sports.
🏆 The Chinese government aims to use the 2022 Asian Games to reshape its superpower image and suppress domestic dissent through nationalistic propaganda.
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China hopes international events serve as a shot of confidence and a surge in nationalistic propaganda.
China undertook vast construction projects for the 2008 Beijing Olympics, but many venues have fallen into disrepair.
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Significant Decline in Flight Frequency and Passenger Traffic at Shanghai Airports Reflects Ongoing Economic Slump and Exodus of Foreigners, Leading to Severe Economic Downturn and Loss of International Faith in the CCP's Regime
🛫 Shanghai airports are experiencing a significant reduction in flight frequency and passenger traffic, reflecting the ongoing economic slump in China.
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Shanghai airports are still struggling with low passenger flow and many shops remaining closed after over a year of the pandemic being open.
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The desolate scene at Shanghai Hongchao Airport Terminal 1, with very few passengers and flights, was shared on social media, indicating the unusual situation.
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An experience of a flight departing early at Shanghai Hong XA airport highlights a significant reduction in flight frequency.
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The hospital in Shanghai did not require people to wear masks, reflecting a different approach compared to other regions.
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💔 The video discusses the impact of the pandemic on Shanghai's economy and the exodus of foreigners, highlighting the severe economic downturn and the closure of numerous businesses.
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Mandate for everyone in hospitals to wear masks indicates the end of the lockdown, but the streets are still not crowded.
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Many foreigners have moved out of luxurious villa areas, impacting the local economy.
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Shanghai's airports and luxury residential areas reflect the absence of foreigners and economic collapse.
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The CCP's extreme policies during the pandemic led to a period of 'white terror' and deterred the international community.
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Shanghai's severe economic issues are evident through the closure of numerous businesses and the slow tax revenue growth.
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🛫 The significant decrease in foreign tourists and business visitors to China has led to a severe economic downturn and loss of international faith in the CCP's regime.
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The decrease in foreign tourists also leads to reduced investment in China and a mass exodus of foreign businesses and investors.
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Inbound tourism to China suffered massive closures or suspensions due to the pandemic, with around 14,000 inbound travel agencies closing in 2020 and another 6,300 in 2021.
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In 2019, China had about 50,000 travel agency outlets, but by the end of 2022, it had less than 20,000, a reduction of about 60%.
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Foreign direct investment in China dropped to 20 billion in the first quarter of 2023 compared to 100 billion US in the first quarter of 2022.
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The extreme quietness of Shanghai's Pudong and Hongqiao airports reflects the severe economic downturn in China during the 3-year lockdown period.
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📉 China's foreign direct investment turns negative for the first time since 1998, signaling increased downward pressure on the economy.
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Premier Li Chang calls for relaxation of market access for foreign capital at the China International Import Expo.
Lack of confidence among foreign investors due to contradictory statements from Chinese Communist Party officials.
Premier Li Chang highlights China's commitment to high-level opening up and easing of market access at the Expo.
📉 China's shrinking export market and challenging business environment lead to a significant decline in Taiwanese participation in the China International Import Expo.
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China's shrinking export market makes it difficult for them to import goods.
Concerns arise from China's challenging business environment, unpredictable policymaking, and worsening geopolitical tensions.
The participation of Taiwanese companies in the China International Import Expo declined by approximately 81% compared to previous expos.
💼 Taiwanese businesses are establishing production bases in Southeast Asian countries due to high tariffs and difficulties in competing with local Chinese companies.
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Smaller Taiwanese companies are directly moving to Vietnam, Thailand, or Cambodia.
Tariffs from China to the US could reach 14-15%, while it's only 7% for Taiwan and around 5% for Southeast Asian countries.
Taiwanese businesses find it hard to compete with local Chinese companies in the Chinese market.
📉 Foreign businesses are unlikely to invest in China due to its poor capital market performance and negative perception in the global market.
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Wall Street Giant Vanguard Group is shutting down its office in China's mutual fund market and has signed severance agreements with its employees.
US polling and consulting firm Gallup is informing clients of its withdrawal from the Chinese market.
📉 China's declining foreign direct investment and efforts to curb currency selling are putting pressure on the devaluation of the Chinese yen.
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The onshore trading volume of the Chinese yen against the US dollar fell to a record low in October, prompting the People's Bank of China to urge major banks to limit transactions and discourage yen to dollar conversions.
China's foreign exchange outflows increased to $75 billion in September, the largest monthly figure since 2016.
Foreign investment in China is seen as crucial for attracting capital, orders, technology, and management models, and there is a growing eagerness from Beijing to return to an attractive market.
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"Beijing and Shanghai, Two of China's Key Cities, Face Economic Challenges with Declining Business and Rising Office Vacancy Rates"
🛍 The once bustling shopping center in Beijing is now facing a severe decline in business and foot traffic.
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The shopping center in Beijing is experiencing a high vacancy rate and many well-known businesses have closed down.
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The general manager of a large Chinese clothing chain observed a scarcity of customers and a bleak commercial atmosphere in the mall.
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The scale of the skylight in the shopping center ranks third in the world, but the place is now desolate with aimless wandering visitors.
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Rumors suggest that popular dining places and brands in the shopping center are gradually closing down.
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There are signs of economic downturn everywhere, with industry giants closing stores and internet famous brands massively shutting down.
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A landmark of economic prosperity and fashion now has entire rows of shops closed, reflecting the coldness of the local business scene.
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The once lively business scene in Beijing is now described as as cold as the outside temperature by a media personality.
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📉 The video discusses the unprecedented high vacancy rate of office buildings in Beijing and its impact on businesses.
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Rental prices for offices and apartments in Dongguanin have dropped back to the levels of 10 years ago.
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Vacancy rate of office buildings in Beijing's Jun guu has reached 16.9% compared to 2% at the end of 2020.
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Businesses are facing financial difficulties, leading to terminations of leases and closures.
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Relocation of internet giants and growing enterprises to self-owned properties and technology parks has impacted the vacancy rate.
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Beijing's overall office vacancy rate reached 18.3% in the second quarter of this year, the highest level in nearly 13 years.
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💼 The Beijing office market is experiencing a decline in vacancy rates and rents, leading to challenges for both landlords and tenants.
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Vacancy rate for grade A office buildings in Beijing increased by 1.2 percentage points, reaching 19.5% by the end of the third quarter.
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Tenants are relocating from the city center to the outskirts due to the challenging market conditions.
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The Beijing office market has seen a significant shift from landlords having the upper hand to tenants having more negotiating power.
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Local office rental market has been challenging, with deals involving lowering the rent and fewer client groups per month.
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A small local business faced a hefty fine for selling hot food beyond its approved scope, sparking criticism and concerns about excessive fines.
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The incident reflects the financial crisis of the Chinese Communist Party and the prevalence of fines economy, leading to a sense of despair among netizens.
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Fines in various places in China seem to be a reflection of the underlying economic downturn and government departments resorting to fines to extract money from the public.
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📉 The economic situation in Shanghai, China is bleak with rising office vacancy rates and declining profits in the wholesale and retail industry.
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Restaurant operator fined for selling raw vegetables
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Rising vacancy rates and falling rents in Shanghai office spaces
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Closure of foreign financial institutions' offices in Shanghai
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Decline in profit of wholesale and retail industry in Shanghai
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Struggle of Shanghai businesses to pay additional value added tax
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Closure of Shanghai luad Plaza 66
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📉 The video discusses the potential impact of Tesla evacuating from Shanghai and the economic challenges facing China.
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Rumors of Tesla evacuating from Shanghai are circulating online
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Tesla is considering moving its Giga Factory out of Shanghai
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Tesla reportedly laying off some battery assembly workers at its Shanghai Factory
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The economic slowdown in Beijing and Shanghai indicates challenging economic conditions in China
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China's economy is facing challenges with declining exports, outflow of foreign capital, and insufficient domestic consumption momentum
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The Chinese government is struggling to find effective solutions to stabilize the economy
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The situation in Shanghai and China's economy is deteriorating
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💼 An advertisement for a cleaning position in China's Nandong city drew attention for its age requirement of under 35 years old for female candidates.
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The Chinese governmental Department specified that janitorial candidates must be female, at least 158 CM tall, and have a minimum education of Junior High School.
The janitorial position offers a monthly salary of 3,000 yen, approximately $410, after deducting Social Security and housing fund contributions.
The age requirement of below 35 for civil servant recruitment in China is adopted by many provinces, causing discussion and concern among netizens.
😔 The employment situation in Beijing has deteriorated significantly, with many companies going bankrupt and age limits for recruitment causing challenges for job seekers.
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Millions of companies in Beijing have gone bankrupt over the past 2 years, making job hunting more challenging.
Many factories in China have an age requirement for recruitment set at under 35, leading to dismissals for those exceeding the age limit.
The number of job advertisements in the village square has noticeably dwindled, indicating a tougher job market.
💼 Age discrimination in employment is a major issue in China, hindering job opportunities and family planning.
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Age requirements for job postings in China are often limited to those between 18 and 35 years old.
Chinese companies prioritize chasing after trends rather than valuing experience and specialized knowledge.
Many individuals, like Mr. Lang and Miss Jung, face financial challenges and limited job prospects due to age discrimination.
💼 A middle-aged man in China struggles to find employment due to age discrimination.
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The man, who was previously a regional general manager, has been rejected from various job applications.
He realized that he had crossed an unemployment red line due to age discrimination.
Currently, he works as a courier earning a lower wage than before.
📊 The majority of live streamers in 2022 were aged 18 to 29, with 64.2% of the total, while those aged 30 to 39 constituted 20.9%.
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95.2% of live streamers relying primarily on live streaming for income earned a monthly income below $683.
90% of streamers in China are not making a profit in the highly competitive live streaming sector.
China's employment landscape is becoming increasingly challenging, with a youth unemployment rate potentially as high as 46.5%.
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🏭 Many factories in Shenzhen are being emptied, dismantled, and demolished, leading to a large number of unemployed people returning home.
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Industrial areas in Shenzhen have been cleared out as many factories have moved away, leading to buildings being emptied and cordoned off.
A large number of small factories, including the Shang Chong clothing Factory, are set to be demolished, resulting in many people becoming unemployed.
Unemployed people are already returning home for the new year, indicating the severity of the situation in finding employment.
💸 The video discusses the impact of declining consumer spending and manufacturing activity in China.
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Return rates for big brands have reached 20% due to constrained consumer budgets.
The National Bureau of Statistics of China reported a decline in the country's official manufacturing PMI for November.
The manufacturing activity in China is experiencing a downturn, as indicated by the PMI falling below the 50-point threshold.
⚠ Foreign CEO confidence in China has sharply declined due to geopolitical tensions, economic slowdown, and increased risk perception.
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CEO confidence index for China dropped from 72 to 54 out of a possible 100 points
Industrial demand in China is lower than pre-pandemic levels, impacting capital investment plans
Foreign investment concerns in China are also due to stringent US technology export controls and modifications to China's counter Espionage laws
📉 Chinese authorities are facing a deepening economic crisis, with concerns about stagflation and the need for urgent fiscal and monetary policies.
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Chinese authorities acknowledge the inability of current policies to rescue the market and avert disaster.
President Xi Jinping's recent visit to Shanghai is seen as a sign of concern about the current economic situation.
Prominent scholars warn of the risk of stagflation and urge the government to adopt expansionary fiscal and monetary policies.
💰 The video discusses the economic pressure on Chinese people due to uneven distribution of medical resources and the impact on medical insurance enrollment.
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Uneven distribution of top grade hospitals increases medical costs for the public.
Decrease in medical insurance enrollment and rising premiums lead to more people opting out of insurance.
Senior analyst suggests government issue consumer vouchers to address economic issues.
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⛈ Typhoon Haikui causes severe flooding and destruction in Fujian and Guangdong.
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Typhoon Haikui makes landfall in Fujian and Guangdong, causing widespread flooding and collapsing buildings.
The typhoon also hits Taiwan twice, bringing heavy rains and strong winds.
Fuqing County in Fuzhou records extreme rainfall, setting a new historical record.
🌧 Severe flooding caused by heavy rains and strong winds in Fujian province.
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The factory is washed away and damages are everywhere.
9 reservoirs in Anxi County are discharging floodwaters, causing extensive flooding downstream.
Fuzhou city experiences fierce winds, heavy rains, and flooding after the typhoon made landfall.
💨 The name of the typhoon 'Haikui' attracted attention as it was changed from 'Dragon King' following a request from Chinese officials.
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The naming list for tropical cyclones in the Northwestern Pacific was established by the World Meteorological Organization Typhoon Committee in 2000.
The naming convention involves five lists contributed by 14 member countries, with names used cyclically.
The typhoon 'Haikui' resulted in 147 deaths and over 39 injuries in 2005.
⛈ Heavy rain and flooding caused significant damage to farmland, infrastructure, and houses in Fuzhou.
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Flooded farmland amounted to 4194 hectares, with 170 road and bridge damages, 919 houses damaged, 67 houses collapsed, 125 power lines down, 85 kilometers of communication lines and 21 communication bases were damaged.
Direct economic loss amounted to 552 million yuan.
The release of water from reservoirs exacerbated the impact of the local flood disasters, with 49 out of 420 reservoirs in Fuzhou exceeding the flood limit levels.
⚠ The Dongzhang Reservoir in Fuqing is in a desolate state due to poor foundation, leading to frequent flood discharge during heavy rain.
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Landslides and leaks occur in the rainy season due to deep excavation of canals and hanging of slopes beside mountains.
Large-scale reinforcement and expansion projects were carried out from 1961 to 1966, but leakage issues persisted.
Several local reservoirs discharged water without warning during Typhoon Saola, leading to flooding in some areas.
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🚲 Chinese youth use electric wheelchairs to bypass regulations on electric bicycles.
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New regulations on electric bicycles have led to young Chinese people using electric wheelchairs for commuting.
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Videos of young people using electric wheelchairs for commuting are being widely shared on social media.
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Rectification campaigns and confiscation of electric bicycles have been carried out by police in various cities.
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Residents have expressed dissatisfaction with the police's actions in confiscating electric vehicles.
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Residents in different cities have given up electric bicycles and started using electric scooters instead.
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🚲 Electric wheelchairs are not classified as vehicles and are not bound by traffic regulations, leading to an increase in usage among young people in China.
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Electric wheelchairs are not managed as motor vehicles or non-motor vehicles and do not require a license or helmet.
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Many young people in China switched to electric wheelchairs for convenience after the implementation of new regulations for electric bicycles.
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The Chinese government has launched campaigns to regulate electric bicycles, with control measures implemented in approximately 190 cities.
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Chinese police intercept motorcycles and electric bicycles to make money by selling the seized vehicles to Africa, Pakistan, and other places.
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Several cities in Guangdong province, such as Guangzhou and Dongguan, have strict bans on motorcycles and have confiscated them from riders.
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😔 Incidents of mistreatment and confiscation of electric bicycles by traffic police in China have sparked public dissatisfaction.
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Motorcyclist injured and fined after being forcibly stopped by traffic police.
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Woman on electric bicycle surrounded by police officers, breaks down in tears.
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Delivery drivers resorting to alternative methods to avoid inspection.
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China has over 400 million electric bicycles, surpassing the number of privately-owned cars.
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Increased fines and restrictions on electric bicycles causing public dissatisfaction.
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💰 Traffic fines in China have become a significant source of revenue for local governments, with penalty revenues showing a significant growth trend.
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Chinese traffic management department has been criticized as a 'licensed robber'
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Chengwu County in Shandong Province introduced a 'monthly penalty subscription'
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Local traffic fines generate over 30 million yuan annually in a county
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Traffic police in Hunan Province strive to achieve a target of 130 million yuan
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Penalty revenues in many parts of China have shown a significant growth trend
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🚦 Traffic penalty revenues in China have significantly increased, with Qingdao City leading the list.
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Qingdao City had penalty revenues of 4.4 billion yuan in 2021, a 127% growth from 2020.
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Nanchang had the largest increase in penalty revenue at 151%, followed by Suqian (133%), Changzhou (110%), Xiangyang (118%), Yibin (105%), Huanggang (102%), and Jiaxing (105%).
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Total traffic fines in China in 2020 were around 300 billion yuan, averaging over a thousand yuan per vehicle.
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Han Deyun revealed the unreasonable set up and misuse of traffic road signs and the 'electronic police' system, leading to excessive fines.
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Traffic management departments set up 'traps' to maximize fines, including lower maximum speeds, multiple speed limits on the same road, altered lane settings, and universal fines for parking violations.
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