Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer" channel.

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  11. 😔 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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  13. 💰 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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  17. ! Street vendors in the city are being chased and have their belongings seized by city management officers, causing distress and chaos. 00:33 Street vendors are being chased and their belongings seized by city management officers. Vendors are running away and customers are chasing after them. Vendors express fear and anxiety about sudden attacks and confiscation of their food carts. 😔 The video highlights the struggles faced by street vendors in China due to fines and penalties imposed by law enforcement officers. 03:59 Street vendors in China face the harsh reality of fines and penalties imposed by law enforcement officers. A young man setting up a street stall pleads for mercy from law enforcement officers. The Civilized City campaign in China raises questions about the difficulties faced by mothers who bring their children to work. 💼 The video highlights the issue of a bloated bureaucratic structure and corruption in China's public service, leading to a financial crisis and burden on the people. 07:15 Approximately 23% of China's employed population is dependent on the state for their livelihood. The bloated and oversized institutions in China's public service have reached an unprecedented level in history. The large number of public servants and corruption contribute to the national financial crisis and burden on the people. 💼 China's national finances are under significant strain due to international tensions, a real estate crisis, and the impact of the pandemic. 11:01 The Chinese Communist Party's international tensions have led to a depression in the foreign trade sector and withdrawal of foreign companies from China. The Chinese authorities' crackdown on real estate developers has resulted in a nationwide real estate crisis and strained local government finances. The 3 years of the pandemic and extreme lockdown measures have devastated China's physical economy, leading to widespread business closures and unemployment. 💰 Local governments in China are being prompted to take actions to reduce staffing and tighten their belts due to financial difficulties after the pandemic. 13:53 A clean-up of outside staffing may lead to a reduction in official staff. China's Ministry of Finance emphasized the long-term government policy of tightening belts. Local governments are taking steps to address the issue of idle civil servants and reduce administrative costs.
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  20. 💼 Foreign investors are withdrawing from China due to geopolitical tensions and economic decoupling, with Southeast Asia emerging as a top alternative destination. 00:29 US firms' confidence in China is plummeting, with 40% planning or already shifting investments away from China. 50% of European companies feel there are barriers to doing business in China, with 11% relocating their existing investments to other countries. Most European businesses in China are invested in the nonfinancial sector, making their exit from the Chinese market. 🇯🇵 The Japanese government is concerned about the arrest of a Japanese national in China on suspicion of espionage. 05:32 The Japanese government has demanded the release of the detained citizen. Two Japanese men were recently sentenced under China's counter Espionage law. Japanese scholars, businessmen, and journalists are now considered high-risk groups when visiting China. 🇨🇳 Growing tensions between China and the US have led to a significant decrease in foreign investments, causing many Japanese companies to leave China. 08:09 Many Japanese companies are determined to leave China, even without subsidies. Foreign holdings in China's stock and debt have decreased by about $188 billion. China's stock market experienced a historic $12 billion outflow in August. 📉 Foreign capital is driving the dump of China's stock and bond assets, leading to the closure of investment offices and funds in China. 11:16 The Norway Sovereign wealth fund closed its Shanghai office after 16 years of operation. Black Rock's China flexible Equity Fund will be liquidated due to a lack of interest from new investors. The economic downturn began with the US-China trade war during the Trump era.
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  22. 💰 Millions of yen mysteriously disappeared from a company's bank account in China, causing widespread discussion online. 00:20 The incident sparked widespread online discussion. Nearly 60 million yen was transferred out of a company's account without their knowledge. The money was transferred into a margin deposit account with an interest starting from March 30th. 💰 Frequent incidents of disappearing deposits in Chinese banks raise concerns about financial security. 03:19 Similar cases of disappearing deposits have occurred before, with a single employee being blamed. Chinese citizens are losing faith in banks as incidents of disappearing deposits increase. Large amounts of money are involved in these incidents, affecting both enterprises and individuals. 📰 Depositors of rural banks in China protest against lack of control and collusion with the underworld. 06:45 Depositors protested against the lack of control of rural banks and collusion with the underworld. Protests were violently suppressed by police and plane Closofficers. Chinese government used tactics like dispersing minor deposit amounts and issuing red houseal codes to limit the movement of depositors. 💰 The ICBC ning Branch in China is involved in a scandal where a senior manager embezzled 250 million yen of depositor funds, leading to heated public debate and financial losses for the depositors. 09:53 Depositors found themselves unable to hold anyone accountable for their financial losses. The bank was ruled not responsible for compensating the depositors for their losses. A woman confessed to being the personal assistant of the senior manager involved in the embezzlement. 💰 Chinese banks facing financial crisis due to embezzlement and declining net interest margin. 13:02 Chinese lawyer comments that banks should still fulfill their obligation to customers even in cases of embezzlement. Similar cases of bank employees embezzling funds have occurred frequently in China. Chinese banks are experiencing a decline in net interest margin and an increase in bank draft defaults.
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  23. 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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  24. 🧥 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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  27. "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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  28. 📉 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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  30. 💔 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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  32. 💰 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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  34. 🇨🇳 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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  37. ⚠ 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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  38. ! Getting a driver's license in China can be easy through connections and bribes, but some students are facing difficulties in scheduling lessons and getting refunds due to driving schools going bankrupt. 00:37 Students who have paid but haven't started training are unable to schedule lessons or tests with their driving schools and are not receiving refunds. It is important for individuals to keep evidence of their payments to the driving school in order to claim refunds or compensation. 🚗 Students at a driving school in South Korea are facing delays in their training progress and difficulties in getting refunds due to deceptive practices by the school. 04:39 Instructors at the school have not logged the required hours for students. Students have experienced delays and difficulties in getting refunds at a driving school in South Korea. The school's customer service has stopped responding to messages. 💰 The training process for obtaining a driver's license involves additional expenses and potential bribes, highlighting the focus on money in the industry. 08:36 Additional charges for exam fees, retest fees, and extra coaching fees are considered standard in the industry. Opaque and irregular income sources in the industry include bribing instructors, paying extra for instructor services, and bribes to examiners for passing tests. Students may have to put up with these practices and pay if they want to succeed. 📰 The media reports on allegations and discrepancies surrounding Horas Drive, a driving school in China. 13:58 Horas Drive faced allegations of fraud and connections to a defunct driving school. Warpless Drive asserted its legitimacy but was found to have connections to the defunct driving school. Local transport departments issued warnings about Horas Drive's recruitment practices. 💸 Driving schools in China often spend students' fees in advance, leading to closures and leaving students without completed courses. 18:21 Driving schools set monthly recruitment targets for instructor expansion. Financial chains break when policy changes or a pandemic hits and there are no funds left for continued operation. The driving school industry in China allows for limited liability companies with minimal registered capital, making it difficult to refund large sums to consumers.
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  42. 🏢 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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