Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer"
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📉 The Chinese economy is on the brink of collapse with a sharp decline in foreign trade and foreign direct investment.
00:32
Total trade imports and exports in July fell by 13.6% year-on-year, with exports to the US dropping by 21%.
China's exports in July saw a sharp year-on-year decrease of 14.5%, with Mexico overtaking the US as China's top trading partner.
Foreign direct investment in mainland China has completely ceased, with a year-on-year decrease of 87% in actual use of foreign capital.
📉 China's local government debt and over-issuance of currency pose significant financial risks to the economy.
06:25
Firms like Anli Material Tech and KingforeEnergy Group invested in Zhongrong Trust's financial products despite overdue payments.
Proportion of local debt and urban investment bonds to fiscal revenue reached an alarming 772% in some provinces.
China's total local government debt reached RMB 66 trillion by the end of 2022, a significant increase from RMB 40 trillion in 2019.
😔 The economic achievements under Xi Jinping's leadership have been overshadowed by aggressive policies, leading to tensions with the US, disruption in international trade, and economic hardships for the Chinese population.
13:03
Xi Jinping's policies of favoring state-owned enterprises over private ones and assertive diplomacy have intensified US-China tensions and transformed trade disputes into comprehensive confrontations.
The containment led by the US in areas of economy, technology, strategy, and geopolitics has severely disrupted the international trade environment, causing instability in the South China Sea and the Taiwan Strait.
The strict containment measures during the pandemic led to widespread economic hardship, business closures, skyrocketing unemployment, and a decline in living standards for the most vulnerable in society.
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📉 China's economy slowdown leads to a decline in consumer spending during the national day holiday.
00:07
There were instances of empty department stores and a lack of customers in supermarkets.
Street vendors selling national flags experienced lackluster sales despite low prices.
Business slowdown during the national day holiday was observed across various sectors.
📈 Domestic tourism in China during the holiday reached record-breaking numbers, but experts argue that the comparison is misleading due to the circumstances of the previous year.
03:00
Domestic trips in China during the holiday reached 754 million, a 79% increase compared to the previous year.
Domestic tourism revenue hit 668 billion, a year-on-year increase of 133%.
Experts argue that the comparison of current tourism figures to the previous year is misleading due to COVID-19 restrictions and mandatory PCR testing.
😔 Business in Shenzhen's bustling Shangan Street is dismal during the pandemic, with many stores closed and few people out and about.
05:43
Shangan Street in Shenzhen is deserted during the holiday season, with stores closed and a lack of crowds.
Shopkeepers are lamenting the current state of business, with wholesalers losing money on moon cakes.
😔 Chinese youth face a challenging job market amid economic recession and pandemic pressures.
08:44
Spending habits, confidence, and expectations of Chinese citizens have dramatically changed.
Youth unemployment rate in China reached 21.3% in June.
The National Bureau of Statistics chose not to release further data on youth unemployment, which was criticized by many.
💼 The video discusses the concept of 'slow employment' and the challenges faced by young people in China.
11:36
The term 'slow employment' is used to describe the situation of not finding a job immediately after graduation.
Many young people in China are embracing the 'lying flat' mentality due to high unemployment rates.
A song titled 'Lying Flat Anthem' has gone viral, resonating with the struggles faced by the country's youth.
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This was a very cool and interesting documentary on Moutai and the CCP:
💥 The death of Yan Y, a leading figure at Ma Tha China's famous liquor brand, and the interactions between Chinese President Xi Jinping and Yan have sparked a public discussion about the health benefits of the liquor.
00:52
Chinese President Xi Jinping expressed his fondness for drinking Ma Thai and inquired about its unique production process and liver protecting properties.
The revelations about Xi Jinping's interactions with Yan have reignited a nationwide debate about whether Ma Thai liquor can really be beneficial for the liver.
! The video discusses the drinking habits of a Brazilian president and former Taiwanese president, and how it is deeply rooted in party tradition.
03:50
The Brazilian president's daily consumption of a 500 ml bottle of liquor has raised concerns about potential liver complications.
Former Taiwanese president Maying Joe's memoirs illustrate the legendary capacity for drinking in the CCP.
📚 The story revolves around the significance and power of a bottle of Malai from 1984 and its impact on the life of an elderly woman and the Mountai Distillery.
07:17
A single bottle of Malai from 1984 managed to secure 30,000 yen, and 12 bottles could buy a car.
Under the leadership of Yanan, the market value of Malti surpassed even the GTP of its home province.
Yan was sentenced to life in prison due to his early allegiance to Shiin Ping and his alleged bias towards reserving the finest AG Malai for her.
🔍 Whispers of plots and secrets surround the mysterious death of Yan Yo, raising questions about his true cause of death.
11:33
Whispers of plots and secrets surrounding Yan Yo's death
Speculation about Yan Yo's knowledge of CCP's darkest secrets
Mentions of Le Banjingling and Jang Jaming
🍷 The video discusses the history and impact of Guo Malai, a brand of Chinese liquor, and how it was affected by famine in the 1950s and 1960s.
15:18
Guo Malai's annual yield of MTI averaged 300 tons before economic reforms.
During the famine from 1958 to 1962, Guo Malai saw a production of 2,790 tons.
Counties funneled resources towards multi-production, resulting in tragic loss of lives.
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📉 China's manufacturing sector is experiencing a significant decline in orders for the American holiday shopping season.
00:18
Orders for gift box manufacturer Brothers Box have sharply dropped, impacting their peak shipping season.
The Nikkei Asian Review reports that Dongguan is also facing similar challenges.
Dongguan suppliers have not initiated hiring drives and have maintained low wages.
📉 The city of Dongguan in China is experiencing a decline in economic activity due to a shift in global manufacturing trends.
02:32
The once-vibrant city of Dongguan is now desolate, with empty bus and train stations and vacant shops.
Over half of U.S. companies have shifted their production from China to Southeast Asia and India, with Japan and South Korea following this trend.
Dell, the world's third-largest computer corporation, will no longer produce chips in China by 2024.
📉 China's prominence in the global supply chain might diminish due to lower production costs in the US, technological advancements, and increased complexities for foreign entrepreneurs.
04:45
US production costs were 5 percent lower than in China, including costs for land, logistics, financing, taxation, electricity, and natural gas.
Technological advancements in automation and robotics are amplifying the cost advantages of Western nations.
Foreign entries in China declined to 50,000 in the first quarter of this year due to increased complexities and surveillance.
📊 China's working population is under significant strain due to a high ratio of workers supporting dependents, eroding incomes, and declining birth rates.
06:58
China's working population of 740 million includes 60 million in non-economic roles, leaving only 680 million contributing to the economy.
Each active worker in China supports approximately 2.09 individuals, a higher ratio compared to countries like India, Pakistan, and Myanmar.
The strain on China's working population is evident in escalating family responsibilities, eroding incomes, declining purchasing power, and a drop in birth rates from 9 million to 7 million.
⚠ China is facing a significant political and social crisis with a declining economy, unemployment, and loss of trust in its systems.
09:29
China's economic trajectory has been waning post-pandemic, with skyrocketing unemployment, private sector insolvencies, and foreign capital flight.
Trust in China's systems has dried up, and common ground has crumbled, leading to a looming political tempest.
A sweeping push for nationalization under Xi Jinping's leadership has alienated the middle class, entrepreneurs, and the youth, eroding faith in the governing body.
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⚠ Factory shutdown in China leaves workers stranded, sparking protests.
00:00
Balu Footware Company Limited shut down its factory in China due to global impact and decreased orders, leading to dissatisfaction and protests among the affected workers.
The company plans to relocate its operations to Indonesia, but the compensation for the workers will only be available after December 31st.
Thousands of employees gathered outside the factory, with hundreds occupying the office space in protest.
💔 Workers in China are facing financial crisis and delayed wage payments, leading to protests and aggressive dispersal tactics by security personnel.
03:05
Factory orders have decreased, impacting economic prosperity in China.
Construction workers are facing financial crisis and delayed wage payments, leading to protests and aggressive dispersal tactics by security personnel.
Elderly workers in Shanghai have resorted to sleeping on the streets as a form of protest due to unpaid wages.
💰 The video discusses the financial insolvency faced by developers in China, leading to halted construction work and unpaid wages for migrant workers.
06:00
Financial insolvency leading to halted construction work and unpaid wages for migrant workers
Reluctance of Construction Industries to pay wages due to delayed payments from local governments and state-owned Enterprises
Owing wages to migrant workers becoming a norm in China, contributing to social instability
⚠ Chinese manufacturing PMI fell to 49.4% in November, below economist predictions, indicating contraction and a decline in factory activities.
08:52
Chinese manufacturing PMI fell to 49.4%
Concerns about domestic market's inability to compensate for losses in Europe and the United States
Contraction in the service sector for the first time in 12 months
📉 Chinese exports in November 2023 saw a year-on-year decrease, with concerns about the sustainability of the improvement.
12:19
Chinese exports in November 2023 decreased by 3.2% year-on-year, reaching $294.8 billion.
Analysts express concerns about the sustainability of export growth and the need for China to rely on domestic demand for future economic growth.
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😮 Employees return to work after a holiday only to find their company has shut down, leaving them without pay.
00:00
Employees discover their company has gone bust and the office is cleared out.
Employees find a message from their boss instructing them not to come in.
Employees report not receiving their salaries and consider taking office furniture home.
📉 The catering industry in Guangdong is experiencing a wave of closures, with many restaurants shutting down after a short period of time.
03:43
The food and beverage industry in Guangdong is collapsing faster than the real estate market.
Many new restaurants in Guangdong are closing down after only a few months of operation.
Even established restaurants with significant investments are closing down after a few years of operation.
📉 The restaurant industry in China experienced a decline in new openings and an increase in closures, with some restaurants lasting only a few days.
07:29
The average lifespan of a new restaurant in China is only 8 days.
Novice entrepreneurs were particularly impacted, with some restaurants closing after just a few days or months.
Categories favored by newcomers, such as takeaway-only outlets, hot pot restaurants, and coffee shops, were heavily affected.
😔 The current economic downturn in China has led to the closure of restaurants, vegetable shops, and street stalls, resulting in a bleak street economy.
11:02
The street economy in China is suffering due to decreased consumption and cooling weather.
Brick and Mortar stores in Shanghai, such as the Shanghai Fisheries Market, are also experiencing closures.
The Nano fashionabledress wholesale Center, a high-end clothing market, is also facing challenges.
📉 China's Consumer Price Index recorded zero growth in September, indicating a trend of deflation and decreased purchasing power.
14:21
Consumer Price Index recorded zero growth in September after two months of below-market expectations.
Producer Price Index in September decreased by 2.5% year on-year, marking the 12th consecutive month of decrease.
China's prevalent trend of downgraded consumption and high housing loan burdens contribute to decreased purchasing power and discourage spending.
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🚗 Chinese car brands dominate the Russian market, with 49% market share in the first half of 2023, but complaints about their quality have also increased.
00:19
Chinese-funded automakers reached sales of 168 units in the Russian market, accounting for 49% of the market share.
80% of these Chinese cars are assembled in Russia, Belarus, or Kazakhstan, not manufactured in China.
Complaints about the quality of Chinese cars have increased by 35% in Russia, with 44% of consumers believing the materials used are too thin or the components are not suitable.
😕 Car owners in Russia express disappointment and dissatisfaction with Chinese car models.
03:07
Car owners in Russia complain about issues such as loose rubber seals and lack of driving stability in Chinese car models.
Russian taxi drivers prefer brands like Hyundai, Kia, and Renault's Logan due to their reliability and durability.
Renault Logan is a popular choice among Russians, with the ability to run up to 500,000 km without major repairs.
🚗 Chinese automakers have not adequately considered the corrosive effects of melting salt on cars sold domestically and in the Russian market.
06:09
Chinese automakers have not addressed the issue of rust caused by melting salt in their car designs.
Chinese automaker executives believe their sales in the Russian market won't be affected due to limited competition and the conflict in Ukraine.
Chinese automakers may need to make specific product modifications, such as improved insulation materials and enhanced heaters, to ensure their cars function properly in Russia.
😡 Chinese cars are overpriced in Russia due to greed between Chinese manufacturers and Russian Customs.
09:12
Chinese cars are priced significantly higher in Russia compared to China.
Even domestically produced Russian cars are rising in price following the example of Chinese cars.
Russian-made Moskvich Free cars have poor quality and features compared to European counterparts.
🚗 Chinese automakers struggle to match the efficiency of Western companies in setting up car assembly lines in Russia.
12:09
Chinese automakers primarily rent factories left behind by Western companies for assembly in Russia.
Russia's automobile industry has regressed significantly due to sanctions, leading to a lack of essential items like airbags.
Even with China's support, Russian automotive technology is pushed backwards, and Chinese companies struggle to match the efficiency of Western companies in car assembly.
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📉 China's chain retailers are facing financial difficulties with declining revenue, net losses, and the need for state-owned asset companies to buy shares.
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Many chain retailer brands have revealed net losses prior to extraordinary items in their financial conditions for the first half of this year.
00:00
More than 70% of chain retailers in China experienced a significant year-on-year plunge in net profits before extraordinary items from 2022 onward.
00:55
Major Chinese chain retailers such as Better Life Commercial Chain and RenRenLe have suffered significant decreases in revenue, with debt ratios rising to 81% and 95.94% respectively.
01:14
The decline in revenue and net profit is attributed to decreased consumer purchasing power, popularity of online shopping, and high debt ratios leading to capital strain and insufficient inventory.
02:35
Even Suning, a longstanding giant in the chain retailer industry, had a disappointing performance.
02:53
Over 70% of Chinese Retail Chains Face Huge Losses, Leading to Closure of More Than 500 Stores
📉 Suning, a Chinese retail giant, is facing financial difficulties and declining market value.
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Suning had a net loss of 28.2 billion yuan last year and has been experiencing ordinary net losses for eight consecutive years.
03:11
The company expanded too fast and now has a debt ratio of 90%.
03:32
Suning's profitability has recovered this year, but the takeover of Carrefour China resulted in a loss of 2.1 billion yuan in the first half of the year.
03:47
Suning owes tens of billions of goods payments to small and medium-sized enterprises and has long-term debts of 133.4 billion yuan.
04:24
China's consumer market is declining, with China's total consumer spending only accounting for 38.37% of GDP.
05:42
📉 China's consumption capacity is declining due to a long-term slowdown in consumption, inability of investment to boost GDP growth, slump in trade exports, and increase in household debt.
06:05
Per capita disposable income of urban residents lags behind GDP growth rate, leading to frugal living.
06:05
Every 10 yuan of investment can hardly drive one yuan of GDP growth.
06:23
Shift of the industrial chain leads to factory closures, layoffs, and drop in housing prices.
06:44
Household debt has reached 63.3% of GDP, growing by 354% since Xi Jinping took office.
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Decline in profits of liquor companies and other consumer stocks indicate a downturn in the consumer market.
07:28
🛒 The rise of online shopping and high fees imposed on suppliers and consumers led to the decline of large supermarkets like Carrefour China.
08:59
Large supermarkets in the 1990s thrived on the surface but sacrificed the interests of suppliers and consumers.
08:59
Wholesalers and manufacturers had to pay high fees to sell their goods in large supermarkets.
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Large supermarkets pressured wholesalers to give 3 months credit, while suppliers and consumers bore higher costs.
09:36
The rise of online shopping led to the decline of large supermarkets as consumers preferred to shop online and shelves were left with outdated stocks.
09:56
Carrefour China's performance declined significantly, leading to store closures and negative public opinion.
10:32
📈 Walmart and other large retail companies are experiencing significant growth in China due to the success of the membership model and the increasing acceptance of it by the middle class.
12:01
Walmart's sales in China have grown by 28% in the past three months, reaching $5.3 billion.
12:01
The membership model is being widely accepted in the Chinese market dominated by the middle class, leading other chain commercial companies to consider changing their operations.
12:39
Suning, despite its failure to run Carrefour China well, has been able to survive due to its close relationship with China's political system.
13:12
Large retail companies like Suning have been able to maintain stable operations due to the Chinese government's direct intervention in the retail industry.
13:33
The Chinese government is gradually increasing its control over private enterprises, transforming the private economy into a state-owned one.
14:07
⚠ The economic situation in China is not optimistic, with difficulties in investment, foreign trade, and the real estate market, along with internal and diplomatic concerns.
15:02
The government's economic rescue strategy has yet to be announced.
15:02
Frequent leaks from the People’s Liberation Army Rocket Forces and the absence of the Foreign Minister Qin Gang.
15:21
Printing a large amount of money and over 300 policies to relax the real estate market have not improved China's economic situation.
15:39
Implementing strict pandemic control measures and halting economic activities again may further shock the fragile consumer market.
15:58
The story highlights the interplay between the economy, politics, corporations, and individuals in a world of constant change and complexity.
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GAC Toyota announced layoffs of 1,000-2,000 employees in Guangzhou.
Sales in the Chinese auto market are decreasing and inventory warning index is rising.
Changan Ford reduced its production capacity and GAC Mitsubishi ended operations in the Chinese market.
🚗 Foreign car companies are withdrawing from the Chinese market due to weak demand, fierce competition, and continuous losses.
🚗 The Chinese auto industry is facing challenges with dealers struggling to meet inventory targets and many 4S stores closing down, while the quality of some Chinese car models is disappointing.
05:51
Only 20% of dealers have met the inventory targets assigned by car manufacturers, leading to financial pressure and fines.
5,519 4S stores have closed in China since the start of the pandemic, with an additional 2,000 stores closing this year.
Some Chinese car models, like the BYD Song Champion Edition and BYD Han, have quality issues such as veering to the right and self-destructing batteries.
📉 BYD's recent stock market performance and public moves are raising market concerns about its future.
12:33
BYD's stock price did not respond to market improvement, suggesting institutional investors may have reduced their holdings.
BYD demanded damages from an automotive blogger, indicating potential internal issues.
Consumer feedback on BYD cars is poor and the company's public image is declining.
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🏥 China's healthcare sector faces a surge in anti-corruption campaigns, resulting in investigations of hospital directors, department heads, and doctors.
00:02
At least 177 hospital directors and party secretaries have been investigated, more than double from the previous year.
Numerous department heads and 168 doctors have also been implicated in corruption.
Cases of corruption include acceptance of gifts, stocks, and kickbacks by hospital directors and party committee members.
💊 The root of medical corruption in China can be traced back to the policy of sustaining healthcare with drug sales, leading to unnecessary and ineffective use of medicines.
05:42
Hospitals in China had to find alternative means to generate revenue due to insufficient government investment, leading doctors to prioritize profits from pharmaceuticals.
Over 40% of medical expenses in China are spent on medicines, compared to other advanced countries where top medicines are often provided for free.
Reforms have been implemented, but as long as the policy of sustaining healthcare with drug sales remains unchanged, the problem of medical corruption cannot be fundamentally solved.
🤔 The Chinese Communist Party's anti-corruption campaign in the healthcare sector is seen as a political maneuver to divert attention and redistribute wealth.
11:13
The anti-corruption campaign doesn't directly address the issues of high medical costs and challenges in receiving medical care.
The campaign is viewed as a calculated move to cast blame onto individuals in the healthcare industry and portray the Party as the champion of justice.
The citizens may suffer as the regime jeopardizes their living conditions instead of addressing their genuine concerns.
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📉 The Chinese economy is in a state of depression, with factories being strangled to death and key industries nationwide suffering.
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Retail spaces in Shanghai have shut down, and even during peak consumption season, business is worse than usual.
The period around October 1st, known as the 'Golden Week', used to be the busiest time for merchants and logistics, but now many flight routes have been suspended.
The Chinese economy is beyond recovery, with people running out of money and key industries suffering from depression.
💸 Evergrande's crisis and debt defaults by Chinese real estate giants raise global concerns.
02:20
Evergrande's debt is soaring up to 300 billion USD, causing instability in the markets.
Chinese real estate developer Country Garden is projected to incur losses of 45-55 billion yuan in the first half of this year and has accumulated a debt of 1.4 trillion yuan.
Global investment giants like BlackRock and Allianz Group hold significant investments in Country Garden's US bonds, posing risks if the company faces difficulties.
💥 The downturn in computer and smartphone sales in China is expected to have a significant impact on global chip manufacturers.
04:59
China's contraction in the consumer market will have global implications.
Semiconductor manufacturers predict further reductions in the production of NAND memory chips used in phones.
European companies face the risk of the shutdown of the Chinese market.
💼 The worsening situation of the Chinese economy is expected to impact the global economy, leading to a decline in demand.
07:38
Agilent Technologies' quarterly revenue decline is attributed to poor business performance in China.
The disappointing performance of the Chinese stock market and grim economic outlook will lead to a decline in demand.
China's decline in demand will impact European luxury goods market.
📉 China's fiscal and monetary policies are facing challenges and have limited effectiveness in stimulating economic growth.
10:19
China's government has limited policy solutions due to the ongoing debt crisis and opposition between Chinese and American monetary policies.
Relying on money supply expansion to support economic growth has been increasingly ineffective over the years.
Attempts to alter public expectations through interest rate cuts have been largely futile.
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