Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer"
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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.
00:14
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.
03:43
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.
07:01
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.
10:38
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's Evergrande Group, once a leading real estate enterprise, has descended into financial crisis and bankruptcy, with allegations of intricate monetary dealings with high-ranking CCP officials.
00:32
Evergrande's staggering debt of 2.43 trillion yen and a debt to asset ratio of 132.5.
Allegations of monetary dealings involving high-ranking CCP officials amounting to approximately 1.6 trillion yen.
Evergrande's influence extends deep within CCP echelons, causing shock waves in the Chinese real estate market.
💣 The video discusses the commonly employed strategy of scare tactics by CCP leaders to target individuals and exert psychological pressure on them, highlighting the intricate link between power and China's market economy.
03:20
Scare tactics are often used by CCP leaders to target individuals and exert psychological pressure.
China's market economy is intricately linked with power and collusion.
The lavish lifestyle preferences of Shuing and his family have been exposed, causing fear among those with prior affiliations with the company.
! Peter has specific preferences for his living conditions, including room temperature, water, and food.
06:12
Peter prefers a room temperature of 23.5°C with 60% humidity.
Peter likes Evan bottle water with the most recent production date.
Peter requests specific food and drink preferences, including boiled peanuts, Red Bull, and coffee.
🏢 The Evergrande Group owns and supports the Evergrande Folk Dance Troop, which is a large performance team with hundreds of members.
09:22
The Evergrande Folk Dance Troop is housed on the 42nd floor and serves as their accommodation.
The troop receives continued monthly financial support despite the company's debt crisis.
Prospective members of the troop undergo a rigorous selection process.
📺 A video exposes Chinese businessman Shua In inviting business magnates, including Jack M, to watch a performance by his handpicked all-female troop, highlighting his extravagant investments and lavish lifestyle.
12:07
Shua In views his performance group as a major PR asset.
Shua In's investment in the all-female troop aligns with the desires of CCP officials.
There have been instances of chaos during Ever Grand's real estate group's debt meetings, and the troop has seized operations after the company's collapse.
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Summary:
00:39 China's Economic Decline: Foreigners and Big Companies Flee as Xi's Power Control Backfires
The arrest of employees from consulting firms in China has put them under scrutiny.
📉 Wall Street's perception of China has shifted as they realize the dangers of Xi Jinping's focus on personal power control at the expense of economic development.
01:25 Wall Street is finding it difficult to profit in the deteriorating business environment in China.
Ray Dalio, a renowned American investor, has shifted his stance on China and began divesting from Chinese stocks. 02:06
China is facing real estate debt issues, the weakening impact of 👑-v policies, strict tech regulations, the sino-US conflict, and population problems. 03:28
Global investors are showing waning enthusiasm for the Chinese market. 04:11
📉 The number of international representatives at the Davos Forum in Tianjin decreased, and the promotional approach raised eyebrows; Goldman Sachs suspended fundraising in the US and shifted focus to the Middle East and Southeast Asia; Western investment banks pulled out of China's AI industry due to potential US sanctions; Returns of investment in Asian markets excluding China outperformed those within China; Asian market outside China may be experiencing an economic boom.
04:28
The Davos Forum in Tianjin had a smaller-scale meeting with a decrease in international representatives.
04:28
Goldman Sachs suspended fundraising in the US and sought investors in the Middle East and Southeast Asia.
05:26
Western investment banks withdrew from China's AI industry due to potential US sanctions.
06:19
Returns of investment in Asian markets excluding China were higher than those within China.
06:57
Asian markets outside China show potential for an economic boom.
08:36
📉 Overseas stock insurance from Chinese companies has diminished, with pricing disagreements and stricter regulations on overseas listing stymieing many deals.
08:50
Overseas stock insurance from Chinese companies fell to 90 billion in 2022 with only six Mainland firms managing to go public.
08:50
Pricing disagreements between high-bidding investors and low-selling Chinese companies have stymied many listing deals.
09:11
China's leadership is implementing stricter regulations on the overseas listing of Chinese companies.
09:17
Some Chinese concept stocks are considering delisting from New York, potentially marking the end of Wall Street's Golden Era of assisting Chinese firms to list in the U.S.
09:32
Foreign banks' participation in China's IPO market has dwindled to its lowest since 2009.
09:47
📉 Wall Street banks are scaling back operations in China due to concerns about investor rights, while the Chinese government seeks ongoing investments from American industry leaders.
13:25
Wall Street is concerned about protecting investor rights in China's opaque data environment.
13:25
Chinese President Xi Jinping anticipates ongoing investments in China by American industry leaders.
13:55
Foreign magnates visiting China may not have genuine investment intentions.
14:27
Wall Street and industry leaders are wary of openly supporting the Chinese Communist Party due to negative public opinion.
15:05
China's economic growth is slowing down and investment risk is increasing.
15:39
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🧥 University students in China are sparking a trend by wearing military coats and floral padded jackets, making a strong fashion statement.
00:06
The viral video of Chinese university students wearing military coats and women strutting in military coats and floral padded jackets has sparked a trend among college students.
The once plain looking military coat has become a top choice for university students to combat the cold, and the floral padded jackets have also gained popularity among female students.
The resurgence of military coats from the 1950s and 60s has been noted, with students commenting on the cost-effectiveness and daring fashion choices of the younger generation.
🧥 The sales of military coats have surged this year due to their cost-effectiveness and warmth compared to down jackets.
03:00
Merchant reports increased sales of military coats exceeding 10,000 on the platform.
Military coats are popular due to being cost-effective, warm, and easy to clean and maintain.
Business owner in the industry for 5 years reported exceptional sales of military coats this year.
🧥 The video discusses the popularity of military coats and reverse consumption among young people in China during weak economic times.
05:43
Lipstick sales surge during tough times due to their inexpensive yet mood-boosting nature.
Military coats are popular due to their warmth, volume, and affordability compared to down jackets.
Reverse consumption is a rational approach by young people to manage their finances tightly, as seen through the popularity of military coats on Chinese university campuses.
📉 The video discusses the impact of China's weakening economy on consumer behavior and the recent decrease in prices.
08:52
China's economy is weakening, leading to a decrease in consumer spending and a shift towards lower-priced goods on lower floors of malls.
The National Bureau of Statistics of China announced a decrease in the Consumer Price Index for October, entering a deflationary level.
The producer price index also fell by 2.6% year-on-year, indicating a decrease in prices at the production level.
📉 Prices of crabs and pork have dropped, with pork experiencing a significant decrease in the market.
11:45
Crab prices have dropped by 6 to 7 win, and pork prices have plummeted by 30 to 40% compared to last year.
The price of live pig has decreased by 4.5% from the same period last month, with a 42% year-on-year decrease.
The double 11 shopping festival saw a significant decrease in online sales, totaling only 243 billion win, marking it as the most dismal in history.
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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.
00:00
Dongguan's manufacturing industry is undergoing a massive transformation, with many factories standing deserted and shut down.
00:00
The economic rise and fall of Dongguan is largely attributed to its heavy reliance on foreign trade and foreign investments.
00:38
Large contract factories like Foxconn and major electronic, shoe, and garment manufacturing plants have either relocated or shut down in Dongguan.
01:01
Recent closures of well-established factories in Dongguan due to plummeting orders, financial deficits, and operational losses.
02:02
The closures include Jung Shing electrical appliances, Shaming industrial, and Hbang metal and plastic products Co LTD.
02:10
These closures have led to unpaid employee wages and the decline of Dongguan's manufacturing industry.
03:02
Dongguan's once vibrant manufacturing hub is now facing economic decline and challenges.
03:43
📉 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.
03:58
Three large factories in China ceased production from October 31st to November 20th, 2023.
03:58
The closure indicates economic decoupling between China and Western countries, leading to distrust and challenges for small and foreign trade factories.
04:36
Business owners express concern about survival due to shrinking domestic market and worsening economic situation.
04:57
Factory workers are experiencing idled machines, lack of work, and reduced export orders, leading to potential closures.
05:46
The global economy has been significantly impacted, leading to closures primarily among low-end manufacturing.
06:44
💔 The decline of manufacturing factories in Dongwan and the impact on the local economy and employment.
07:06
Thousands of businesses in Dongwan shut down in 2022, with a wave of closures continuing into 2023.
07:06
Several long-established factories, including Alco Electronics and U Shoe Factory, announced closures due to losses and dwindling orders.
07:31
The chairman of Alco Group ended his own life after facing substantial losses.
09:19
U Shoe Factory, once a major player in the global shoe industry, gradually declined since 2012.
10:05
📉 The decline of manufacturing in Dongan, China, leading to factory closures and economic impact on surrounding industries.
10:47
Dongan's manufacturing industry has experienced a gradual decline, with many factories closing or relocating.
10:47
China's export numbers have decreased, particularly in processing trade, indicating a downward trend.
11:24
Industry insiders predict a significant number of factory closures in the near future.
11:41
Many factories are struggling to survive, leading to reduced workforce and early Chinese New Year holidays.
12:24
The closure of large factories has impacted surrounding service and retail industries, leading to closures and reduced business.
13:03
The departure of workers from the factories has severely impacted the catering and retail industries in Dongan.
13:10
The industrial decline has led to a quiet and struggling business environment in the area, with many storefronts closing down.
13:38
💔 The decline of Dongan's manufacturing industry and the reasons behind it.
14:22
Decline in orders due to US-China trade war and shifts in industrial chains in European and American countries
14:22
Withdrawal of foreign investment, especially Taiwanese businesses, due to geopolitical influences
14:45
Rising costs, including rent and wages, leading to higher production costs and reduced profits for factories
15:02
Market competition from manufacturing industries in Vietnam, Southeast Asia, and India intensifying pressure on Dongan's factories
15:25
Industrial upgrading policies in Guangdong Province leading to closure or relocation of some businesses unable to adapt
15:41
Gradual economic decoupling between Western countries and China as a significant irreversible trend
15:56
Dongan's transformation from a world-renowned manufacturing hub to a desolate area with dilapidated factories and empty streets
16:04
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📉 China is experiencing a silent surge of middle-aged joblessness, with over 200 million people engaged in flexible employment and delivery riders struggling to find orders.
00:19
China has over 200 million people engaged in flexible employment.
Delivery riders are struggling to find orders and earning much less than before.
Many single mothers have joined the delivery industry due to lack of other job opportunities.
📊 The average national urban unemployment rate in the first half of 2023 was 5.3%, a decrease of 0.2 percentage points from the first quarter.
02:54
The unemployment rate for local urban residents was 5.1%, while for migrant urban workers it was 21.3% and 4.1% respectively.
Unemployment rates for different education levels were 4.4%, 4.4%, 3.9%, and 3.2% for junior high school or lower, high school, associate's degree, and bachelor's degree or higher respectively.
In major cities, the unemployment rate was 5.5%, consistent with the previous month's data.
! Delivery drivers in Beijing are struggling to get orders due to high competition and low demand.
05:02
Delivery drivers in Beijing are facing high competition and low demand, with some only receiving around 30 orders per day.
The industry is saturated, making it difficult for delivery drivers to make a decent income.
Even during dinner time, there is a lack of orders, affecting both suburbs and inner city areas.
😔 The influx of new drivers to DD has increased competition and led to low earnings, causing drivers to struggle financially.
07:32
Many drivers are complaining about spending a large amount of money on a car for DD but only earning a minimal amount in return.
Some drivers are considering joining discounts to compete, as the increasing number of drivers has reduced their chances of earning enough.
There are jokes about even Teslas being used as DD vehicles to make ends meet.
🚗 Stricter regulations and an oversaturated market have made it challenging for ride-hailing drivers in China to earn a sustainable income.
09:53
Stricter regulations have made it difficult for new drivers to sign up for ride-hailing platforms without proper documents.
The market is flooded with drivers, leading to a situation where there are more drivers than riders.
Rental costs and low demand have resulted in new drivers struggling to make more than 500 yen per day.
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💔 The streets of Hong Kong are now devoid of iconic signboards, marking the end of an era of prosperity and a decline in import and export trade.
00:43
The total export value of goods in Hong Kong decreased by 5.3% in September, falling short of expectations.
The value of imports in Hong Kong decreased by 0.4% in September, resulting in a tangible trade deficit.
Hong Kong's total export and import volumes of goods decreased by 15.6% and 12.9% respectively comparing the first 9 months of 2023 with the same period in 2022.
💰 Hong Kong's financial centre is suffering from a decrease in IPOs and funds due to doubts about its future under Beijing's governance system.
04:28
Recent policies in Hong Kong raise concerns about moving towards a one country one system framework.
The US Federal Retirement Thrift Investment Board is adjusting its benchmark index to exclude exposure to Hong Kong.
Real estate prices in Hong Kong are plummeting, indicating a further depletion of funds in the market.
📉 Hong Kong's property market is experiencing a significant decline due to economic factors and a decrease in foreign investment.
08:34
Hong Kong's property market is expected to continue declining, with predictions of a 5% to 18% price drop.
Goldman Sachs forecasts a 20% plummet in Hong Kong's real estate market in the coming years.
Hong Kong's government is facing a record high fiscal deficit, with efforts to attract foreign investment yielding little success.
📉 The attractiveness of Hong Kong's investment immigration status to wealthy individuals from mainland China is likely to diminish significantly.
12:22
Between 2003 and 2015, about 90% of approved applications for Hong Kong's investment immigration were from Chinese nationals with foreign permanent resident status.
Hong Kong's happiness index ranking has fallen to 82nd, significantly behind its major competitor Singapore and lower than mainland China, Taiwan, Thailand, Vietnam, and the Philippines.
Since 2012, Hong Kong's happiness index consistently ranked lowest among the four Asian tigers, with high property prices being a major contributing factor.
📉 Hong Kong's status as an International Financial Center is diminishing, but it still serves as an outlet for domestic Capital flight due to the needs of CCP Elites and the bureaucratic system.
16:40
Since 2003, Singapore's per capita GDP has surpassed Hong Kong, leaving Hong Kong trailing.
Hong Kong's function as an outlet for domestic Capital flight will likely be retained for a considerable period.
The wealth flowing from mainland China to Hong Kong has increased by at least 3 to four times this year.
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💰 Truck drivers prefer national roads over highways due to low freight rates and high fuel costs, and toll charges based on weight are unfair to them.
00:01
Truck drivers now mostly use national roads instead of highways for hauling goods.
Freight rates are low, and cutting costs is essential for survival.
Toll charges based on weight are unfair to truck drivers.
🛣 The construction and opening of a new toll station on National Highway 205 in Jangu province raises concerns about the financial situation and the time it will take to recoup the investment.
04:23
The toll station on National Highway 205 in Jangu province has been completed and is about to start operating.
The province is already in debt and spending over 60 million yen on the toll station raises questions.
Other provinces in China have also started toll collections at national highway toll stations in recent years.
🏢 Concerns over local government debt risks in China and the need to address unfairness in housing purchases.
07:29
National road tolls and civil servants' salary issues also discussed.
Beijing authorities to issue 1 trillion yen in special National Bonds to repay local government debts.
Tight local finances remain a problem despite the announced measures.
💰 Civil servants in multiple regions across China have experienced pay cuts ranging from 15% to 20%.
11:06
Civil servants in Jwai saw a yearly income reduction of 60,000 to 880,000 Yen, while those in Shinen experienced cuts between 50,000 to 100,000 Yen.
Some areas in Guangong had already started delaying subsidy payments, and Shanghai's Department level officials saw a reduction in their annual salary from 350,000 to 200,000 Yen.
In Hong Joo, some organizations experienced pay cuts as high as 40% during the national day holiday in October.
📉 China's population begins to decrease, leading to a decrease in the need for public officials and potential financial strain on the government.
14:43
China's population has started to decrease, marking a historic turning point.
The decrease in population leads to a severe imbalance between population and financial support.
Civil servants may face pay cuts due to the decrease in population, causing concerns about potential abuse of power.
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🇨🇳 Amid China's economic downturn, unemployment is skyrocketing, leading to a growing population of homeless individuals struggling to survive.
00:00
Unemployment rate in China is skyrocketing, with many people struggling to find work and resorting to sleeping on the streets.
Recent cleanup efforts in Guangdong highlight the plight of those living without a roof over their heads or a place to stand.
China's stringent zero policy has exerted immense pressure on its economy, leading to significant challenges for the population.
🌏 Young Chinese professionals are seeking opportunities abroad due to economic uncertainty and a desire for freedom.
02:50
Many young professionals in China are seeking to leave the country due to economic uncertainty and a desire for freedom.
Thailand offers various long-term visas, including one-year student visas, making relocation easier for Chinese expats.
The pandemic has led to a surge in Chinese individuals searching for immigration opportunities, with many choosing to stay abroad indefinitely.
🇨🇳 More Chinese people are moving to Thailand for a better lifestyle and education opportunities.
05:55
Chinese are attracted to Thailand for its cleaner environment and better air quality.
Thailand offers a developed service industry and eases cultural barriers for Chinese expats.
Thailand provides high-quality international education opportunities for Chinese students.
🇹🇭 Thailand's Elite Visa program is attracting more Chinese buyers who are interested in luxury apartments for personal use, as they seek a safer lifestyle and investment opportunities.
08:42
Thailand's Elite Visa program is gaining popularity among high-end Chinese individuals for long-term residency and freedom of entry and exit.
Many Chinese buyers are now choosing to purchase luxury apartments in Thailand for personal use, attracted by lower cost of living and job opportunities.
Chinese people are eager to invest in overseas real estate in Thailand to secure a safer lifestyle during pandemics and hedge against domestic economic risks.
📉 The unemployment rate for Chinese youth, especially university graduates, is much higher than reported by the government.
11:35
Unemployment rate for Chinese youth age 16 to 24 climbed from 16.7% to 21.3%
University graduates in Shanghai have an employment rate of only about 30%
Experts estimate the real unemployment rate for University graduates in China could be close to 50%
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⚠ The Three Gorges Dam in China has 80 cracks, raising concerns about its structural integrity and safety measures.
00:13
80 cracks discovered in the dam during a routine inspection
Cracks evolving over time, raising concerns about instability and potential hazards
Emergency measures taken to address the cracks, including grouting, artificial rockfilling, and rubber padding
🚧 A journalist gains access to report on the Three Gorges Dam construction, revealing quality issues and facing repercussions.
03:43
Journalist gains access to report on dam construction and reveals quality issues.
Repercussions faced by the journalist for reporting on the dam's quality issue.
Rumor suggests economic downturn in China may be linked to the dam's quality issue.
🏗 The video discusses the nature and severity of cracks in the Three Gorges Dam, highlighting the challenges and complexities of large-scale engineering projects.
07:15
Contradictory information about the depth and nature of the cracks has led to confusion
Chief engineer believes that cracks in large dams are unavoidable, highlighting the challenges in dam construction
The Three Gorges Dam has been scrutinized for structural cracks, attributed to geological and structural concerns
🌊 The construction of the Three Gorges Dam faced quality issues and rushed construction schedule.
10:45
Complex temperature issues due to the large size and height of the dam led to cracking during concrete casting.
Quality inspection reports were toned down to avoid criticism, indicating average quality of the dam construction.
Concerns raised about the flood storage capacity of the Three Gorges Reservoir.
⚠ The Three Gorges Dam faces significant safety risks and controversies due to construction issues and alleged negligence.
14:19
The dam's stability is at risk due to leakages, uplift pressure, and construction flaws.
Construction issues include overestimation of foundational conditions, use of subpar materials, and alleged corruption.
The dam did not undergo acceptance checks, and there were accusations of negligence and dishonesty in the construction process.
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🏢 The Beijing Central Business District and Jungwan Chuin, China's Silicon Valley, are now desolate due to the lingering effects of COVID-19.
00:00
The economic downturn in Beijing Central Business District and Jungwan Chuin is a result of the COVID-19 pandemic.
Traditional retail in the area is almost non-existent, with vacant stores and offices.
Entrepreneurial cafes have reduced seating and some have transformed into boutique coffee bookstores.
😔 The rental market in Beijing's tech hub is facing challenges with high vacancy rates and plummeting rental rates.
02:33
Average monthly rent for office spaces in Beijing is 316 unen per square meter.
Vacancy rate for office buildings in Beijing's tech hub is at a near decade high of 16.9%.
Residents have observed a significant decrease in activity and crowdedness in places like Donguan Shenin and Shanghai.
📉 The pandemic initially stimulated e-commerce growth, but the decline in China's economy and consumer spending has led to a significant decline in online sales.
05:24
A woman in the e-commerce industry reports that her online store's traffic and sales have significantly declined since the golden week holiday in early October.
A delivery personnel from an online shopping platform confirms that their sales and delivery volumes are even worse than during the pandemic's peak.
Large-scale industrial enterprises in China have recorded a decline in profits during the first eight months of the year, with a year-on-year drop of 11.7%.
📉 The skincare and beauty industry in China is still struggling to rebound following the pandemic, with reduced consumer spending and lagging customer influx to beauty studios.
07:51
Skincare and beauty industry in China is facing economic concerns due to reduced consumer spending.
Moon cake sales in China have been sluggish, with a decline in orders by 30 to 40% this year.
Orders for moon cakes have significantly decreased, putting immense pressure on businesses.
💼 China's consumer spending during the golden week is not providing the expected uplift in revenue, and stability in the real estate sector is crucial for a robust economic resurgence.
10:19
China's consumer spending during the golden week is worth paying attention to, as it has not provided the expected boost in revenue.
Stability in the real estate sector is necessary for a robust economic resurgence in China.
China's annual CPI growth rate in August was only 0.1%, indicating subdued economic simulation compared to pre-pandemic levels.
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