Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer"
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📉 Bank of China's aircraft leasing company, BOC Aviation, incurred a direct loss of $600 million after gifting eight seized planes to Russia in exchange for $200 million.
00:00
BOC Aviation lost $600 million after gifting eight seized planes to Russia in exchange for $200 million.
Recovery of the remaining nine aircraft from Russia is almost impossible.
Maintenance records for the planes may not be properly preserved in Russia, making them difficult to lease.
🛩 Russia's largest airline, Aeroflot, is facing difficulties in maintaining its planes due to Germany's prohibition on Russian planes entering its airspace.
03:13
In desperation, Russia signed an agreement with Iran to provide spare parts and maintenance for Russian aircraft.
Aeroflot sent an Airbus A330-300 to Iran's Mahan air for maintenance, but it is still not repaired.
Before the sanctions, Russian Airlines relied on Western companies for parts, but they have turned to smaller suppliers like S7's maintenance department and Moldova's Air Rock Solutions.
🇨🇳 The Chinese Communist Party's prioritization of political considerations over economic interests in dealing with Russia.
05:56
Dealing with Russia at a loss is a general pattern for China.
The CCP has long known how Russia conducts business but still prioritizes political considerations over economic interests.
The Chinese government encourages Chinese companies to enter the Russian Market, but it may not be beneficial for them.
🇷🇺 Russian-Chinese relations at grassroots level faced challenges in the 1990s due to inconsistent product quality and violence against Chinese merchants, but improved with Putin's crackdown on skinheads.
08:43
In the 1990s, Chinese traders smuggled goods into Russia, resulting in inconsistent product quality and a tainted impression of Chinese products.
Chinese merchants often suffered violence from skinheads and faced extortion and robbery.
With Putin's crackdown on skinheads, the situation for Chinese merchants improved, but crackdowns on smuggling intensified around the 2018 World Cup.
🇨🇳 A Chinese YouTuber named Paul Kajan gained popularity by creating a fake persona as a Russian elite soldier and criticizing the United States.
11:21
Paul Kajan's real identity is Wang Kong and he created a persona of a Russian soldier speaking with a Hanan accent.
He gained hundreds of thousands of followers and earned significant sales figures by selling Russian products and criticizing the United States.
When his real identity was revealed, he had to delete all his videos and change his account name to Wang Kangay.
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😱 A British man's newly purchased Chinese-made electric car unexpectedly entered autopilot mode and became uncontrollable, forcing him to crash into a police vehicle to stop it.
00:41
Brian Morrison's MG ZS EV entered autopilot mode and could not be stopped, prompting him to crash into a police vehicle.
The brakes failed to function, leaving Morrison in a state of panic.
Despite the harrowing experience, Morrison was not injured, but expressed uncertainty about driving the electric car again.
! The European Commission is launching an anti-subsidy investigation on Chinese electric cars due to their low prices caused by government subsidies.
04:24
China has become the top global car exporter, surpassing Germany and Japan.
The European Commission is concerned about the economic impact of Chinese electric vehicles on Europe's GDP.
The European Commission is initiating an anti-subsidy investigation to potentially impose punitive tariffs on imported Chinese electric cars.
💰 The Chinese government has provided substantial subsidies for electric vehicle manufacturing, leading to a surge of new energy vehicle enterprises, many of which aimed to defraud subsidies.
08:25
Chinese government has been providing hefty subsidies for new energy vehicles since 2009.
Many new energy vehicle enterprises emerged with the goal of defrauding subsidies.
The new energy vehicle sector in China became a problematic bubble similar to real estate.
🚗 Israel plans to ban the importation of fuel vehicles by 2030 and promote electric and natural gas vehicles.
11:34
Israel launched a plan in October 2018 to replace fuel vehicles with electric and hybrid models by offering lower purchase tax rates.
By 2025, the ownership of new energy vehicles in Israel is expected to reach 177,000, and by 2028 it will grow to 656,000.
China's new energy vehicle companies have high expectations for the Israeli market due to government support and favorable market characteristics.
🇨🇳🇮🇱 The Chinese Communist Party's support for Hamas in the Israeli conflict may strain Sino-Israeli relations and impact Chinese goods sales in Israel, including electric vehicles.
15:16
The Chinese Communist Party refused to condemn Hamas's terrorist attack on Israel, leading to anti-Israel sentiment in China.
Hamas's unusual aspects in the war suggest support from a major power, with the CCP being a suspected backer.
Uncertainty looms for the Chinese new energy vehicle industry in Israel if the conflict continues and Israel becomes wary of Chinese products.
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Life in China becomes increasingly difficult as the poor crowd Beijing Station at night amidst economic challenges and the looming threat of deflation.
📉 China's economic recovery is facing challenges with falling real estate market, growing debt risks, shrinking exports, high youth unemployment, and approaching deflation.
01:05
China's National Bureau of Statistics data shows that the Consumer Price Index (CPI) remained the same in June, halting its rise for the first time in two years and four months.
01:05
The core CPI, which reflects household purchasing power, rose by 0.4% year-on-year, the lowest increase since March 2021.
01:42
External warnings suggest that China's economic recovery is weak and a crisis of 'deflation' is imminent.
02:01
The Producer Price Index (PPI) for June was 5.4% lower than the same month last year, marking the ninth consecutive month of negative growth.
02:18
The 'double decline' phenomenon in both consumer and production ends indicates a decrease in market demand and purchasing power.
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❌ Deflation in China may lead to a decline in consumer spending, layoffs, and a vicious cycle of reduced production and more layoffs.
02:57
Deflation may result in a decrease in consumer spending and impede economic growth.
02:57
Layoffs due to shrinking demand may trigger social issues.
03:13
A decline in prices leads to reduced income, decreased investment, production, and possible layoffs.
03:30
China may already be experiencing deflation, which could be worse than officially reported.
04:08
China's economic development relied on foreign investment and generating domestic demand is now difficult.
05:17
! The Chinese economy is experiencing deflation and the real estate market is weakening, leading to a negative perception of China and a significant economic collapse.
05:51
Deflation is more difficult to control and overcome than inflation.
05:51
The real estate market's recovery momentum remains weakened.
06:06
Chinese people are seeing their wealth shrink, affecting the consumer market.
06:19
China's real estate industry is unlikely to rebound.
06:37
The external perception of China has become more negative due to the pandemic and China's economic collapse is underestimated.
07:09
📉 The Chinese media has reduced promotion of Xi Jinping's 'common prosperity' campaign due to problems in the Chinese economy and the focus on boosting economic growth.
08:49
The current measures are focused on boosting economic growth, so adjustments need to be made.
08:49
The authorities are mentioning 'common prosperity' less because of problems in the Chinese economy.
08:49
Large-scale and well-funded enterprises may be impacted by the 'common prosperity' policy.
09:07
Foreign investments may not return to mainland China this year due to loss of confidence.
09:39
Xi Jinping's crackdown on internet giants and the education industry is seen as unfair.
10:15
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🛩 China may be using commercial jets as radar shields for their military crafts, potentially putting civilian passengers at risk.
00:13
China's military communication aircraft lurked beneath a commercial flight from Hong Kong to Shanghai through the Taiwan Strait.
This tactic could be used to launch a missile strike against Taiwan while sacrificing passengers on the civilian plane.
Targeting a Hong Kong flight allows China to avoid widespread condemnation and diplomatic backlash.
🔒 China's covert military establishments and blurred civilian-military lines pose a threat to national security.
03:01
China has numerous covert military establishments hidden in residential areas and disguised as ordinary facilities.
China strategically places vulnerable air strips near schools, making them inadvertent targets.
The CCP blurs civilian-military lines to gain military advantages, as shown by their plans to rally non-active duty personnel and commandeer strategic airports and ports.
🚢 China has rapidly increased its capacity to transport military equipment to Taiwan using civilian ferries.
05:57
China's capacity to transport military equipment to Taiwan has reached 2.3 million tons in just 8 days.
Chinese operators, including Bohai Ferry Group and High9 Straight Shipping Company, are involved in the transport operations.
Recent mobilization of civilian ferries suggests a response to Nancy Pelosi's visit to Taiwan and PLA military exercises.
💣 The video discusses the potential of equipping civilian ships with missile weapons systems, allowing them to be used as launch platforms with significant battlefield advantages.
09:22
The PLA Navy's document hinted at the possibility of retrofitting missile launchers on civilian ships.
Civilians have historically been used as human shields by the CCP.
The CCP strategically seized territories from behind during the civil war.
😱 Communist forces used horrifying tactics, including sending unarmed elderly, children, and naked young women to the frontlines, causing shock and shame among the opposing soldiers.
12:01
Communist forces labeled unarmed elderly as counterrevolutionary landlords and forced them into the frontline.
Children were used as cannon fodder by the Communist forces, paralyzing the opposing soldiers.
Naked young women, labeled as daughters and daughters-in-law of landlords, were used as a grotesque assault tactic, causing the opposing soldiers to cast aside their machine guns.
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💰 Wage cuts in the Chinese banking industry have been widespread due to economic influences, with some employees experiencing reductions of over 50%.
00:36
Wages in the banking industry have noticeably declined, with some employees receiving minimum wage and bank chairmen seeing their salaries drop significantly.
00:36
The financial industry is also affected, with reports of bank employees' salaries falling from over 20,000 yuan to less than 7,000 yuan.
00:55
The real estate downturn, which used to account for 40% of China's GDP, is a major factor impacting the banking industry.
01:23
SPDB employees went on strike due to salary reductions, with regular staff experiencing a 50% cut and supervisors and above facing a 40% reduction.
01:40
Wage cuts are not uncommon in the Chinese banking sector, with the average salary of employees in many listed banks decreasing by over 10%.
02:31
Shanghai Banks Implement Drastic Salary Cuts, Leading to Closure of 1,200 Bank Branches in China Since 2023
😔 Bank deputy manager in China faces financial distress due to delayed performance pay and low base salary.
03:28
A deputy branch manager of a rural commercial bank in China faced financial difficulties as he received only a few hundred yuan a month due to non-payment of performance pay.
03:28
The deputy manager was forced to take on a part-time job outside, but when the bank found out, they fired him without paying the performance salary owed to him.
03:44
The deputy manager sued the bank for the payment of his overdue performance wages, but the court dismissed his claims citing the bank's regulations.
04:00
Delayed wage payment is a widespread issue in China's banking industry, with larger banks deferring a significant portion of performance salary for several years.
04:44
The base salary of commercial bankers in China is typically low, and after deductions for various insurances, the actual monthly income is not substantial.
05:34
🏦 Many Chinese banks are scaling down their operations due to operational difficulties and declining profitability.
06:21
Approximately 1,200 bank branches in China have announced the termination of their operations from January to June 2023.
06:21
The closure wave in China's banking industry began in 2022, with around 2,400 bank branches closing down.
06:40
The reduction of offline bank outlets is driven by the increasing popularity of mobile payments and the decline in physical branch customers.
07:10
The fundamental reason for the closures is the sustained economic downturn in China, leading to declining bank profits.
07:44
Chinese local banks face pressure on revenue and capital replenishment in 2023 due to weak loan demand and narrowing net interest margins.
08:17
💰 Small regional banks in China are facing financial struggles and increased risks due to the economic downturn caused by the pandemic and the sluggish real estate market.
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Small regional banks in China are struggling financially due to low interest rates and the impact of the pandemic.
09:05
Non-performing loans have increased, making small banks more vulnerable.
09:23
There are concerns about insufficient funds as many tier-2 capital bonds remain unredeemed.
09:55
Some small banks have chosen not to redeem their tier-2 capital bonds, which can decrease their capital supplementation efficiency.
10:19
The Chinese real estate market's sluggishness is causing risks to expand in the banking industry.
10:51
📉 Chinese banks are facing increasing non-performing real estate loans, posing a common challenge for the banking industry.
12:23
The balance of non-performing real estate loans among Chinese banks with the largest scale increased by 61% year-on-year.
12:23
Agricultural Bank of China had a balance of 46 billion yuan in non-performing real estate loans, a year-on-year increase of 63.4%.
12:46
Several banks, including Ping An Bank, Bank of Communications, Zheshang Bank, China Merchants Bank, China Everbright Bank, and China Construction Bank, experienced excessively fast growth in non-performing real estate loans last year.
13:06
China Construction Bank's President stated that the rising non-performing real estate loan ratio is a common challenge for the banking industry, and mitigating financial risks in real estate is urgent.
13:25
Approximately 7% of Chinese-funded banks were poorly rated by the People's Bank of China's risk assessment at the end of 2021, indicating potential financial risks.
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🚗 Car owner expresses concern about airbags not deploying in a recent crash.
00:35
Out of seven airbags, six didn't deploy in a car crash.
Car manufacturers often provide explanations for undeployed airbags, but they are met with skepticism.
BYD, a Chinese automaker, faces criticism from its own customers.
🚗 The video discusses a highway collision, PR deflection by BYD, skepticism towards Toyota's hybrid technology, and aggressive defenders of BYD.
03:09
BYD's PR moves have been criticized for deflecting genuine concerns and brushing aside questions.
Skepticism towards Toyota's hybrid technology is often met with dismissal by BYD's ardent fans.
BYD enthusiasts become aggressive defenders when faced with criticism and sometimes resort to personal attacks.
🔍 Byd, a Chinese automaker, is accused of copying designs from other companies and missing the opportunity to lead China's electric revolution.
05:57
Byd initially planned a starting salary of 13,000 yen for its Shanghai Factory, but it was recommended to slash it to just under 6,000 yen.
Byd has been mimicking designs from other companies for over two decades, including Hyundai and Tesla.
Byd had the technology, talent, and market to be pioneers in China's electric revolution, but they played it safe and focused on chasing subsidies and marketing dreams.
💰 Owners are concerned about the increased maintenance and expenses of the engine auto start in hybrid models, while BYD's self-reliance strategy has drawbacks in terms of battery performance and financial accumulation.
12:01
The frequent engine starts in hybrid models lead to higher maintenance and fuel costs for owners.
BYD's use of its own batteries, including lower-performing lithium iron phosphate batteries, in high-end vehicles leads to a significant accumulation of fixed assets and a debt to asset ratio of 77%.
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! Unemployed woman in China expresses despair over job search and low wages.
00:00
The woman has been unemployed for over a year and is struggling to find a job.
She feels less desirable to employers due to being unmarried and childless.
The prevailing wage in most cities is between 1,000 to 2,500 yuan.
💰 The Chinese economy's stagnation is leading to a decline in wages and benefits for workers in major cities, causing anxiety and sleep loss.
03:02
Widespread decline in wages across major cities in China, affecting various sectors including finance and technology.
High-earning bank executives facing salary cuts of up to 40%, indicating a halting growth trend of the Chinese economy.
Significant drop in recruitment salaries in Shanghai and Beijing, with other cities also experiencing wage declines.
💼 The Chinese job market is facing challenges with oversaturation, declining salaries, and job cuts.
05:09
Ride-hailing services, food delivery services, and the real estate market are suffering in China.
Many individuals are opting for postgraduate studies and civil service exams due to the challenging job market.
The Chinese job market is worse than the official youth unemployment rate, impacting both private and public sectors.
💼 Chinese employees are willing to accept pay cuts of up to 50% due to conservative raises and promotions, government-mandated salary caps, and reduced benefits.
07:56
Chinese businesses are facing dwindling profits and are forced to comply with the government's push for 'common prosperity', resulting in salary cuts and reduced benefits.
Top Chinese investment bank CITIC Securities slashed the base salaries of some senior employees by 15% and CICC mandated senior staff to fly economy class and choose the cheapest train tickets.
Employees in the financial sector are experiencing reduced bonuses, leading to decreased morale and unmotivated behavior.
📉 The average salary for new employees in industries like electric vehicles, batteries, and solar and wind energy dropped 3.6% year-on-year in June, the most significant decrease since 2015.
10:50
Many job seekers in China are turning to civil service exams and public institution positions for stability, but even these jobs are experiencing salary cuts.
Civil servants across China experienced waves of salary cuts in the first half of 2022, with reductions averaging 20-30%.
Coastal provinces like Guangdong, Zhejiang, and Jiangsu were most impacted, with some local government officials reporting salary reductions of 25% and one-third.
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😔 A fresh graduate in Chengdu is struggling to find a suitable job and has experienced a significant pay cut.
00:19
The job market in Chengdu is not providing proper job opportunities for fresh graduates.
The individual had to accept a job with a lower salary than before and still couldn't find employment.
Due to financial difficulties, the person had to sleep under a bridge while searching for a job in Beijing.
📉 China's decision not to disclose the urban youth unemployment rate suggests a deteriorating economy.
06:14
China's official media suspended the urban youth employment rate survey, indicating dissatisfaction with the present numbers.
Observers believe China's economy is not improving as claimed, with investment, consumption, and imports and exports stalling.
China's aggressive Zero-Covid policy and autocratic foreign strategy have damaged the economy, leading to foreign businesses leaving and decreased investment.
📉 China's economy is facing challenges and is likely to experience stagnation for the next 10 to 20 years.
12:19
China's export advantage during the pandemic gave the CCP a false sense of confidence, but Western countries are distancing themselves economically from China.
The basic problem in China's economy is political, not economic, and the government's minor economic stimuli are viewed skeptically.
Experts predict that China's economy will enter a phase of stagnation with a growth rate of around 0% to 2% in the coming years, and youth unemployment has doubled in the past four years.
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🤢 A video surfaced showing a worker urinating into a vat of ingredients at a beer factory in China, causing outrage among beer enthusiasts.
00:22
The video was taken at the Singa beer factory number three.
China has been associated with four modern inventions involving tainted beer, contaminated pickled vegetables, substandard vehicles, and unfinished property developments.
The incidents have been jokingly referred to as the 'four misfortunes of life' among Chinese youth.
🍺 The video discusses the potential for a Chinese beer company to capitalize on a controversial opportunity involving urine in their products.
03:44
A man in the electronics marketing industry believes that urinating in food products could be a unique opportunity for the beer company to become popular and successful.
The man suggests that if the company can turn this crisis into an opportunity, they can harness the wave of popularity, which is crucial for victory.
Not everyone in China supports this idea, as some see it as opportunistic, while others believe it is common for those who uncover problems to be dealt with.
🚗 WM Motors, once a leading electric vehicle company in China, has filed for bankruptcy review amidst reports of battery issues and financial difficulties.
07:22
WM Motors, along with Nio, Xong, and Bon, was considered one of the four small dragons of new automakers in China.
Reports of WM Vehicles spontaneously combusting due to battery issues and allegations of locking car batteries without owner's consent have surfaced.
WM Motors has filed for bankruptcy, owing back pay to employees and facing complaints from car owners.
💸 WM Motors, a Chinese electric vehicle company, filed for bankruptcy due to a lack of technical research and development, sluggish capital market, and challenges in securing funds.
10:44
WM Motors had only raised a total of 18.8 billion yen and 15 billion yen respectively, falling short of going public.
Rumors circulated that the chairman of WM Motors, Freeman Shun, had fled to the United States, leaving behind unpaid wages and inoperable vehicles.
During the bankruptcy reorganization process, WM Motors had a total of 3,952 employees.
😢 Many Chinese struggle to afford property due to low incomes, with buying a home representing a lifetime of earnings.
14:44
The late Chinese Premier Lee Kang noted that buying property in China often involves investments of millions of yen, which is a daunting sum for most people.
600 million Chinese earn a monthly income of around 1,000 yen ($137 USD), making it difficult to purchase a home worth about 1 million yen ($100,000 US).
EverGrand, a company with unfinished projects across China, has filed for bankruptcy protection in the United States, causing chaos.
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💼 Workers at Quin shine Legion Electronics Company Limited in China are facing layoffs and early returns to their hometowns due to a decrease in orders from Apple.
00:12
Many workers have been laid off, prompting an early return to their hometowns over 2 months in advance.
Quin shine Legion Electronics primarily manufactures Apple's original equipment for mobile phones and wireless chargers, and is experiencing a significant decrease in orders.
A temporary worker at foxcon had to resign due to a decrease in orders, and employees are seen saying goodbye to their former co-workers.
💼 The impact of Foxcon's changes on the Chinese economy and employment.
03:18
Foxcon has cut wages, halted hiring, and relocated production lines, leading to economic downturn in surrounding areas.
The closure of nearby restaurants and shops due to the dismissal of temporary workers at Foxcon's factory.
Reduction in wages for workers in the Foxcon park in Shinen, leading to closure of physical stores.
⚠ China's economic pressure and geopolitical strategies are causing concern for foreign investors and leading to a push for supply chain diversification.
06:47
China's economic pressure and potential job loss is causing concern for foreign investors
Investigation into Foxcon seen as pivotal moment in China's relation with international investors
Geopolitical conflicts and pandemic prompting Western countries to reduce dependence on Chinese supply chains
📱 H shingu Electronics is a major manufacturer specializing in smartphones and related accessories, with a focus on exports.
10:02
H shingu Electronics company established in 2015
Ammer International Group, the parent company, has expanded into the smartphone and semiconductor industries
China International Supply Chain Fair featured 515 Chinese and foreign Enterprises and institutions
🌐 President Xi Jinping requested the US to cancel unilateral sanctions against China during a meeting in November, with implications for the global supply chain.
13:31
China is trying to reorganize its supply chain in response to US technological and trade sanctions, as many countries have decoupled from the global supply chain that included China.
There are challenges for American companies looking to reestablish in China, including whether they can return under US sanctions and what benefits can be gained given China's unchanged policies towards private enterprises.
The founder of TSMC believes that globalization is dead and the world is now in an era of geopolitics, with the new US-China economic and trade framework likely to impact high tech and high precision systems.
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📉 The combat capability of China's People's Liberation Army (PLA) is only a third of what it appears on the surface due to issues such as formalism, corruption, and lack of combat experience.
00:22
The actual military strength of the PLA may only be a third of its apparent strength.
China's J20 stealth fighter faces issues with its domestically produced engine, including a short lifespan and high fuel consumption.
The domestically produced onboard generators of the J20 are underpowered, severely impacting the emission power of the aircraft's radar.
🚢 Chinese naval vessels face performance and maintenance issues, including challenges during overseas missions and concerns about the fate of aircraft carriers.
03:55
Chinese naval vessels have performance and maintenance issues, hindering their operation for target practice and maneuvering.
The fate of China's three aircraft carriers is a cause for concern, as they could potentially be sunk by the US military within hours in the event of a conflict in China's territorial waters.
China faces challenges in submarine construction, as commercially sourced parts from the West do not meet military standards and result in technical defects, frequent malfunctions, and impaired seagoing capabilities.
🔫 The People's Liberation Army (PLA) has inferior weapons and equipment compared to the US Army, raising doubts about its claim to be the world's leading land force.
07:40
The NP22's performance is inferior to the P226, yet it is priced higher.
The PLA is armed with outdated rifles and limited numbers of advanced tanks.
The PLA may not be able to withstand an attack from the US Army.
📚 Soldiers in the Chinese People's Liberation Army lack initiative and adaptability due to strict orders and procedures, leading to limitations in their skills and career prospects.
11:31
Soldiers in the Chinese People's Liberation Army have little opportunity for initiative and adaptability due to strict orders and procedures.
High-intensity physical training plans may lead to long-term injuries and illnesses for soldiers.
Many veterans from the Chinese People's Liberation Army pursue careers as bodyguards, security guards, special agents, or urban law enforcement officers.
🔍 China's military lacks originality and adaptability, and its pursuit of form over substance has worsened under Xi Jinping's leadership.
15:42
Military salaries have increased, but overall efficiency and pragmatism may be lower than that of the Indian army.
China's defense budget reached 1.45 trillion yen in 2022, but funds are not efficiently utilized.
New recruits in remote areas receive a monthly salary of over 4,000 Yen, while soldiers stationed on the India border can earn as much as 12,000 yen per month.
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🚧 Brilliant video. A dangerous water gushing incident occurred in the foundation pit of a subway station under construction in Wuhan, leading to localized ground subsidence and the urgent evacuation of residents in a nearby residential tower.
01:14
Screenshots circulated on social media showed the construction manager issuing an emergency notice to evacuate the residential tower.
Residents reported cracks in their homes prior to the collapse and had previously notified the community and local authorities.
Homeowners were not provided with details about arrangements for evacuation and had no information about government experts being dispatched for collapse.
⚠ Subway construction in China has been plagued by collapse accidents, resulting in numerous deaths and economic losses.
06:59
From 2001 to 2019, there were 239 Subway construction accidents in China, resulting in 289 deaths.
The Guangzhou Metro collapse on December 1st, 2019, resulted in three fatalities and a direct economic loss of approximately 20 million yen.
The collapse incident was caused by complex geological conditions and factors such as undermining excavation construction.
🚇 Subway construction in China poses significant safety risks and economic costs, but is seen as a symbol of urban identity and financial strength.
14:01
Subway construction accidents in China are primarily caused by inadequate management, lack of safety awareness, worker violations, and geological reasons.
The rapid construction of subways in China is closely linked to the booming real estate market, as it increases property prices and brings economic benefits through land sales.
Despite the high costs and potential losses, many cities in China are willing to invest in subway construction for the perceived urban prestige and financial benefits.
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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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