Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer"
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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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Significant Decline in Flight Frequency and Passenger Traffic at Shanghai Airports Reflects Ongoing Economic Slump and Exodus of Foreigners, Leading to Severe Economic Downturn and Loss of International Faith in the CCP's Regime
🛫 Shanghai airports are experiencing a significant reduction in flight frequency and passenger traffic, reflecting the ongoing economic slump in China.
00:00
Shanghai airports are still struggling with low passenger flow and many shops remaining closed after over a year of the pandemic being open.
00:00
The desolate scene at Shanghai Hongchao Airport Terminal 1, with very few passengers and flights, was shared on social media, indicating the unusual situation.
01:42
An experience of a flight departing early at Shanghai Hong XA airport highlights a significant reduction in flight frequency.
02:34
The hospital in Shanghai did not require people to wear masks, reflecting a different approach compared to other regions.
02:59
💔 The video discusses the impact of the pandemic on Shanghai's economy and the exodus of foreigners, highlighting the severe economic downturn and the closure of numerous businesses.
03:20
Mandate for everyone in hospitals to wear masks indicates the end of the lockdown, but the streets are still not crowded.
03:20
Many foreigners have moved out of luxurious villa areas, impacting the local economy.
03:32
Shanghai's airports and luxury residential areas reflect the absence of foreigners and economic collapse.
03:45
The CCP's extreme policies during the pandemic led to a period of 'white terror' and deterred the international community.
04:11
Shanghai's severe economic issues are evident through the closure of numerous businesses and the slow tax revenue growth.
05:51
🛫 The significant decrease in foreign tourists and business visitors to China has led to a severe economic downturn and loss of international faith in the CCP's regime.
07:33
The decrease in foreign tourists also leads to reduced investment in China and a mass exodus of foreign businesses and investors.
07:33
Inbound tourism to China suffered massive closures or suspensions due to the pandemic, with around 14,000 inbound travel agencies closing in 2020 and another 6,300 in 2021.
07:45
In 2019, China had about 50,000 travel agency outlets, but by the end of 2022, it had less than 20,000, a reduction of about 60%.
08:02
Foreign direct investment in China dropped to 20 billion in the first quarter of 2023 compared to 100 billion US in the first quarter of 2022.
08:56
The extreme quietness of Shanghai's Pudong and Hongqiao airports reflects the severe economic downturn in China during the 3-year lockdown period.
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📉 China's economy continues to struggle as foreign investment outflows and business sentiment deteriorate.
00:21
China's economy remains sluggish with rapid outflow of foreign investment, signaling lack of confidence among foreign enterprises.
52% of American Chamber of Commerce member companies surveyed are pessimistic about their business prospects in China over the next 5 years, the lowest level since 1999.
Financial institutions, including ABN Amro, City Bank, and Morgan Stanley, have closed offices in Shanghai in recent years.
📉 Shanghai businesses are facing unsustainable tax increases and high vacancy rates, leading to an accelerated immigration of the middle class.
04:07
Shanghai businesses have paid 9.1% more taxes to compensate for revenue shortfalls.
Vacancy rate in Shanghai shopping centers is at 12.1%, exceeding the rate at the end of 2019.
Xi Jinping visited Shanghai to emphasize the city's efforts to enhance its competitiveness and lead in financial and technological innovation.
💼 Xi Jinping's shift towards pragmatism and economic reform in response to the pandemic's impact on China's economy and social stability.
08:30
Xi Jinping's reform rhetoric is linked to preventing economic recession and social unrest.
The delay in convening the third plenary session is due to dilemmas in finding solutions to China's economic problems.
📉 Criticism of Xi Jinping's leadership and the lack of substantial economic reform plans in the upcoming third plenary session of the Chinese Communist Party.
11:38
The third plenary session is expected to introduce major economic reform plans, but there is criticism that there is nothing substantial to offer.
Xi Jinping is blamed for the economic collapse and is seen as unable to turn the situation around, losing support from both the party and the people.
The ritual of the CCP's plenary sessions is crucial for maintaining public confidence, but the upcoming session may not be able to cover up practical problems, leading to instability.
🇨🇳 The 20th Central Committee of the CCP is facing issues with multiple members being removed, including the defense and foreign ministers, leading to delays in important decisions and appointments.
15:24
Le Shang Fu has been removed as Defense Minister for over 3 months with no successor determined.
China agreed to resume US military exchanges, but the delay in appointing a new defense minister is hindering progress.
The delay in the third plenary session is due to the need to address the dismissal of four individuals, including the defense and foreign ministers.
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Thank you very much for this video, China Observer. Time-stamped summary for your viewers:thanksdoc::thanksdoc::thanksdoc:
🚨 The Chinese Communist Party's revised 'Counter-Espionage Law' has raised concerns about expanded power and potential suppression of dissent, leading to travel advisories from the US and Canada.
00:11
The revised 'Counter-Espionage Law' broadens the definition of espionage activities, including actions like taking photographs or participating in religious activities.
00:11
The US Department of State issued a Level 3 travel advisory urging American citizens to reconsider travel to China due to the risk of arbitrary detention.
00:41
Similar travel advisories were also issued for Hong Kong and Macau, advising increased caution or reconsideration of travel.
01:05
The advisory highlights the risks foreign travelers or residents may face in China, including interrogation, prosecution, detention, expulsion, and exit bans.
01:21
The implementation of the revised law may lead to normal business activities of foreign-funded enterprises being perceived as espionage activities, potentially resulting in punishments.
02:31
⚠ The CCP's new Counter-Espionage Law raises concerns about personal belongings inspections and potential risks for foreign nationals in China.
03:18
The new Counter-Espionage Law allows Chinese authorities to inspect personal belongings like mobile phones and laptops.
03:18
CCP's propaganda urges citizens to report 'suspicious individuals' and generate support for the law.
03:28
Taiwan expresses alarm over the comprehensive promotion of the law and releases behavioral patterns that may violate it.
03:52
Foreign nationals, including Taiwanese citizens, face risks of arbitrary enforcement, detention, and travel bans by the CCP.
04:47
The CCP's laws are criticized as arbitrary, lacking rule of law, and encroaching upon the sovereignty of other countries.
05:39
🔒 Korean expatriates in China delete data and decrease travel due to stricter Counter-Espionage Law.
06:27
Korean expatriates in a Chinese city deleted statistics and analysis data related to their businesses.
06:27
Number of South Koreans traveling to China decreased by 90% compared to before the COVID-19 pandemic.
06:43
CCP can implement the Counter-Espionage Law to arrest citizens of countries like Europe, the United States, Japan, and South Korea.
07:06
CCP's new version of the Counter-Espionage Law is a broad and politically driven tool to maintain its dictatorship.
07:34
CCP's Counter-Espionage Law can be used to persecute dissenting individuals, journalists, human rights activists, and business operators.
08:56
😱 The revised 'Counter-Espionage Law' implemented by the CCP authorities in China has led to raids, searches, and arrests of foreign citizens, causing concern among domestic and foreign enterprises.
09:33
CCP authorities require citizens to report and offer rewards, potentially leading to false information and harm to others.
09:33
Several American and Japanese companies have been subjected to raids and searches, resulting in the arrest of foreign citizens.
09:54
A senior executive of a Japanese pharmaceutical company was detained on charges of espionage, along with at least 16 other Japanese nationals.
10:07
The Beijing office of the U.S. due diligence firm Mintz Group was searched, leading to the arrest of Chinese employees.
10:44
The new version of the CCP's 'Counter-Espionage Law' has caused alarm among domestic and foreign enterprises as they seek clarity on what is prohibited.
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This was an absolutely brilliantly produced video👏👏👏🎬👍👍👍👍👍. My time-stamped summary's below 'my🎨 painting'😏🤓😎🤣😂😄:
The Chinese economy is
▂▄▅████████▅▄▃▂
I████████████████████] ing
◥⊙▲⊙▲⊙▲⊙▲⊙▲⊙◤
📉 China's economy is facing decline with factory closures, job losses, and a decrease in foreign investment.
00:09
BYD's factory in Shanwei is shutting down, causing job losses.
00:09
LG factory in Guangzhou is confirmed to be closing down.
00:53
Longgang Plastic Factory in Shenzhen is disbanding due to lack of orders.
01:11
Lenovo Group factory in Xiamen has closed down.
01:22
Foreign investment in China has significantly decreased.
02:59
💸 China's economic slowdown worsens as millionaire outflow continues, foreign trade orders plummet, and youth unemployment rises.
03:47
China's millionaire outflow is expected to reach 13,500 individuals by 2023, the highest globally.
03:47
Foreign trade orders sharply reduced as Western countries move supply chains to Southeast Asia and India.
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80% of orders at a jewelry processing factory have been cancelled, causing significant losses.
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China's youth unemployment rate for those aged 16 to 24 rose to 20.8%, reaching a new high since 2018.
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Food delivery industry in China is overcrowded, leading to intense competition and reduced income for drivers.
06:10
📉 China's economy is facing a cliff-like decline, with high unemployment rates and a depreciating yuan.
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Unemployment rate in Guangzhou is close to 30% for college graduates.
07:55
Unemployment wave affects consumption and real estate industry.
08:12
Senior Chinese officials have convened emergency meetings to stimulate the economy.
08:45
Chinese yuan has depreciated significantly against the US dollar.
09:22
Depreciation of yuan has limited positive impact on Chinese exports.
09:39
📉 The devaluation of the yuan against the US dollar is negatively impacting China's economy and exports.
10:07
Strong foreign companies demand additional concessions on export product prices to offset the extra exchange rate gains.
10:07
Numerous foreign trade companies in the Pearl River Delta region are either taking holidays or closing down due to a lack of orders.
10:46
China's loose monetary policies and interest rate cuts go against the global trend, but are related to the unique economic situation in China.
11:22
The sustained decline in China's economy and exports has significantly reduced foreign exchange income and reserves, putting pressure on maintaining the stability of the yuan's exchange rate.
12:43
Domestic demand shortfall is a major issue, with ordinary people running out of money and being reluctant to spend.
13:05
📉 Mainland Chinese e-commerce platforms did not disclose the total transaction amount for '618' this year, indicating a decrease in consumers' purchasing power.
13:46
Many platforms not disclosing total GMV suggests a decrease in consumers' purchasing power.
13:46
The growth rate of total online transaction volume during '618' was the lowest in three years.
14:13
Volume of '618' deliveries was lower than the previous year.
14:25
Business leaders and economists urge the government to adopt more market-oriented approaches.
15:26
Participants expressed concerns about the ambiguity of implementing stimulus measures.
15:38
Thank you very much😊☺🙂😃
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😔 Black Friday sales have been disappointing for many sellers, with a significant drop in orders and profits.
00:39
Over 40% of surveyed sellers were disappointed with Black Friday sales, failing to clear their inventory.
34% of sellers did not participate in the Black Friday event, and only 22% experienced a surge in orders.
11% of sellers reported poor profit performance during Black Friday.
👗 Customers express disappointment with the poor quality and slow logistics of Shan's clothing, despite influencer promotion.
03:08
Customers complain about poor quality and slow shipping from Shenzhen, China.
Inconsistency in quality and sizing, with some items being unwearable.
Famous influencers promote Shan's clothing with glamorous images, leading to consumer skepticism.
💼 The US is proposing a bill to require more information about parcels entering the country, which may impact Chinese e-commerce businesses.
06:21
The bill aims to prevent China and Russia from flooding the US market with low value goods.
Chinese e-commerce enterprises will no longer be exempt from taxes for goods imported into the US worth less than $800.
Small and large traders, as well as cross-border sellers, will be impacted by the tax policy adjustment.
⚠ The video discusses the detection of fraudulent shipments from companies in Shin Jang and their potential involvement in forced labor, posing a threat to US import regulations and ethical concerns.
09:12
Shin Jang companies are manufacturing various products, potentially involving forced labor and violating US import regulations.
Senator Rubio highlights the exploitation of the Dom Minimus loophole and the exacerbation of CCP government's forced labor situation.
The US House of Representatives report emphasizes the evasion of US supply chain scrutiny and suspected forced labor by overseas versions of pind teu.
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00:00
GAC Toyota announced layoffs of 1,000-2,000 employees in Guangzhou.
Sales in the Chinese auto market are decreasing and inventory warning index is rising.
Changan Ford reduced its production capacity and GAC Mitsubishi ended operations in the Chinese market.
🚗 Foreign car companies are withdrawing from the Chinese market due to weak demand, fierce competition, and continuous losses.
🚗 The Chinese auto industry is facing challenges with dealers struggling to meet inventory targets and many 4S stores closing down, while the quality of some Chinese car models is disappointing.
05:51
Only 20% of dealers have met the inventory targets assigned by car manufacturers, leading to financial pressure and fines.
5,519 4S stores have closed in China since the start of the pandemic, with an additional 2,000 stores closing this year.
Some Chinese car models, like the BYD Song Champion Edition and BYD Han, have quality issues such as veering to the right and self-destructing batteries.
📉 BYD's recent stock market performance and public moves are raising market concerns about its future.
12:33
BYD's stock price did not respond to market improvement, suggesting institutional investors may have reduced their holdings.
BYD demanded damages from an automotive blogger, indicating potential internal issues.
Consumer feedback on BYD cars is poor and the company's public image is declining.
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📉 China's economy slowdown leads to a decline in consumer spending during the national day holiday.
00:07
There were instances of empty department stores and a lack of customers in supermarkets.
Street vendors selling national flags experienced lackluster sales despite low prices.
Business slowdown during the national day holiday was observed across various sectors.
📈 Domestic tourism in China during the holiday reached record-breaking numbers, but experts argue that the comparison is misleading due to the circumstances of the previous year.
03:00
Domestic trips in China during the holiday reached 754 million, a 79% increase compared to the previous year.
Domestic tourism revenue hit 668 billion, a year-on-year increase of 133%.
Experts argue that the comparison of current tourism figures to the previous year is misleading due to COVID-19 restrictions and mandatory PCR testing.
😔 Business in Shenzhen's bustling Shangan Street is dismal during the pandemic, with many stores closed and few people out and about.
05:43
Shangan Street in Shenzhen is deserted during the holiday season, with stores closed and a lack of crowds.
Shopkeepers are lamenting the current state of business, with wholesalers losing money on moon cakes.
😔 Chinese youth face a challenging job market amid economic recession and pandemic pressures.
08:44
Spending habits, confidence, and expectations of Chinese citizens have dramatically changed.
Youth unemployment rate in China reached 21.3% in June.
The National Bureau of Statistics chose not to release further data on youth unemployment, which was criticized by many.
💼 The video discusses the concept of 'slow employment' and the challenges faced by young people in China.
11:36
The term 'slow employment' is used to describe the situation of not finding a job immediately after graduation.
Many young people in China are embracing the 'lying flat' mentality due to high unemployment rates.
A song titled 'Lying Flat Anthem' has gone viral, resonating with the struggles faced by the country's youth.
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! 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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🌍 China's youngest national vice-leader and State Councilor and Foreign Minister, Qin Gang, has mysteriously disappeared amidst rumors of a scandalous affair and a double agent investigation.
00:36
Qin Gang has been absent from all scheduled diplomatic public activities and has not made any public appearances or statements.
00:36
Chinese social media is buzzing with rumors of Qin Gang's involvement in a scandalous affair with a Phoenix TV presenter suspected of being a double agent.
01:03
Qin Gang's disappearance is unprecedented for such a high-ranking official and has kept the mainstream media in hot pursuit.
01:36
During a discussion at the Aspen Security Forum, the Chinese ambassador to the U.S. hinted at a possible meeting between Qin Gang and Henry Kissinger.
02:00
Rumors circulate about a romantic relationship between Qin Gang and Phoenix TV presenter Fu Xiaotian, fueled by their apparent intimacy during an exclusive interview.
03:05
China's You'ngest National Vice-Leader and State Councilor and Foreign Minister, Qin Gang, Mysteriously Disappears Amidst Scandalous Affair and Double Agent Investigation, Sparking International Interest and Speculation about His Whereabouts
🔍 Qin Gang, the Chinese Foreign Minister, has disappeared from public view, sparking international interest and speculation about his whereabouts.
04:03
Fu Xiaotian, a woman suspected to be in a romantic relationship with Qin Gang, posted a birthday message for him on social media.
04:03
Fu Xiaotian's last social media post revealed that she was flying to the frontline with her baby son.
05:16
Qin Gang's last public appearance was on June 25, and he missed several major events.
05:29
The Chinese Foreign Ministry stated that Qin Gang could not attend a meeting due to health reasons.
05:43
International interest in Qin Gang's whereabouts intensified after three and a half weeks of his disappearance.
06:37
🕵♀ Qin Gang's absence from diplomatic activities may be due to political trouble rather than health issues, as his rumored girlfriend Fu Xiaotian's background raises suspicions of espionage.
08:06
Qin Gang's career has seen exceptional promotions under Xi Jinping's rule, going from deputy foreign minister to ambassador to the US to foreign minister and state councilor.
08:06
Fu Xiaotian, rumored to be Qin Gang's girlfriend, has a suspicious background with unusual educational and career paths, including potential spy training.
09:11
Fu Xiaotian has been a host for Phoenix TV's flagship program, giving her access to international politicians and potentially providing cover for espionage activities.
11:05
💼 Fu Xiaotian, a female alumna of Churchill College at the University of Cambridge, received several honors and awards, raising questions about her wealth and political connections.
11:21
Fu Xiaotian's garden was named after her at Churchill College, marking the first time a facility was named after a female alumnus.
11:21
Fu Xiaotian received the 'Knight of the Order of the Star of Italy' from the Italian President for her contributions to Italy-China exchanges.
11:58
Fu Xiaotian received the title of 'Top Ten Outstanding New Youth of Hong Kong' in December 2020.
12:46
Speculations suggest Fu Xiaotian may have connections with high-ranking officials and the head of China's spies.
12:59
Zeng Qinghong, a powerful figure in Jiang Zemin's faction, was the chief spy for the Chinese Communist Party before Xi Jinping took office.
13:12
📺 The management of Phoenix TV, including Liu Changle, was replaced and rumors suggest that former host Fu Xiaotian may have been arrested for espionage.
14:56
Zeng Qinghuai, brother of Zeng Qinghong, was appointed as the special inspector of the Chinese Communist Party's Ministry of Culture in Hong Kong in 1995.
14:56
Phoenix TV had a close relationship with Zeng Qinghuai and was targeted by Xi Jinping's purge.
15:27
Fu Xiaotian, a top female host at Phoenix TV, may have been introduced to a high-ranking official by Liu Changle.
16:24
Fu Xiaotian disappeared from the public eye after rumors of an extramarital affair and illegitimate child with Qin Gang.
16:38
Speculations suggest that Fu Xiaotian may have been arrested for espionage, impacting Qin Gang's position as foreign minister.
17:05
🔥 Power struggle within the Chinese Foreign Ministry leads to downfall of Qin Gang and reveals infighting.
18:23
Chinese Ambassador Xie Feng learned of Qin Gang and Fu Xiaotian's affair, triggering Qin Gang's downfall.
18:23
Qin Gang's faction retaliates by revealing that Deputy Foreign Minister Ma Zhaoxu kept a foreign mistress and his relatives prospered in the US oil industry.
18:52
Qin Gang's biggest adversary is former foreign minister Wang Yi, who disagrees with his diplomatic approach.
19:17
Wang Yi favors aggressive, anti-US, pro-Russia stance, while Qin Gang advocates for a more moderate approach.
19:32
Resolution to the Qin Gang affair is anticipated, with potential outcomes depending on whether he makes a public appearance or remains out of sight.
20:13
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🏠 Chinese real estate market in crisis with major developers defaulting on debts and government launching affordable housing reforms.
00:00
China's largest real estate developers Grand group and Country Garden have defaulted on debts, leading to financial crises and investigations.
The state Council of China passed a plan for affordable housing reforms to address the anxiety of middle income groups and promote real estate industry transformation.
Shanghai housing prices plummeted by 51% in the Yu District, signaling a significant drop in the real estate market.
💰 Local governments in Japan have heavily relied on income from land sales, leading to a significant increase in fiscal revenue.
05:10
The average price of land auctions by local governments increased almost 20 fold from 2000 to 2022, reaching 9,119 Yen per square meter.
The financial income from land auction transactions reached 70.8 trillion yen, most of which became the revenue of local governments.
Local governments heavily rely on income from land sales, which has skyrocketed from 18% to 53% of total fiscal revenue from 2001 to 2019.
🏢 The video discusses the debt ratio of US Real Estate Investment Trust Equity Funds, the key real estate indices, and the impact of China's real estate industry on the economy.
08:49
Debt ratio of US Real Estate Investment Trust Equity Funds is 33.8%.
The National Property index has a debt ratio of 44.9%.
The rapid development of China's real estate industry led to a decline in real estate investment from 2014.
💰 Chinese families and real estate operators are burdened with massive debts due to the bursting of a speculative bubble in the real estate sector.
13:28
Chinese families are left with enormous debts, equivalent to a mortgage of a house, due to the plundering of the real estate sector.
Real estate operators in China are also left with larger corporate debts after the bursting of the speculative bubble.
The comprehensive tax burden of real estate companies is estimated to be 15% of sales, impacting their financial situation.
💰 The video discusses the optimistic financial assumptions and challenges faced by property developers in Japan.
17:58
Optimistic financial assumptions and using national average price of 4,000 Yen per square meter for construction costs.
Estimating the value of completed projects based on the national real estate market's average price of 10,000 Yen per square meter.
The total debt of property developers to date is 67.4 trillion Yen, posing challenges even under the most ideal conditions.
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📉 China's chain retailers are facing financial difficulties with declining revenue, net losses, and the need for state-owned asset companies to buy shares.
00:00
Many chain retailer brands have revealed net losses prior to extraordinary items in their financial conditions for the first half of this year.
00:00
More than 70% of chain retailers in China experienced a significant year-on-year plunge in net profits before extraordinary items from 2022 onward.
00:55
Major Chinese chain retailers such as Better Life Commercial Chain and RenRenLe have suffered significant decreases in revenue, with debt ratios rising to 81% and 95.94% respectively.
01:14
The decline in revenue and net profit is attributed to decreased consumer purchasing power, popularity of online shopping, and high debt ratios leading to capital strain and insufficient inventory.
02:35
Even Suning, a longstanding giant in the chain retailer industry, had a disappointing performance.
02:53
Over 70% of Chinese Retail Chains Face Huge Losses, Leading to Closure of More Than 500 Stores
📉 Suning, a Chinese retail giant, is facing financial difficulties and declining market value.
03:11
Suning had a net loss of 28.2 billion yuan last year and has been experiencing ordinary net losses for eight consecutive years.
03:11
The company expanded too fast and now has a debt ratio of 90%.
03:32
Suning's profitability has recovered this year, but the takeover of Carrefour China resulted in a loss of 2.1 billion yuan in the first half of the year.
03:47
Suning owes tens of billions of goods payments to small and medium-sized enterprises and has long-term debts of 133.4 billion yuan.
04:24
China's consumer market is declining, with China's total consumer spending only accounting for 38.37% of GDP.
05:42
📉 China's consumption capacity is declining due to a long-term slowdown in consumption, inability of investment to boost GDP growth, slump in trade exports, and increase in household debt.
06:05
Per capita disposable income of urban residents lags behind GDP growth rate, leading to frugal living.
06:05
Every 10 yuan of investment can hardly drive one yuan of GDP growth.
06:23
Shift of the industrial chain leads to factory closures, layoffs, and drop in housing prices.
06:44
Household debt has reached 63.3% of GDP, growing by 354% since Xi Jinping took office.
07:03
Decline in profits of liquor companies and other consumer stocks indicate a downturn in the consumer market.
07:28
🛒 The rise of online shopping and high fees imposed on suppliers and consumers led to the decline of large supermarkets like Carrefour China.
08:59
Large supermarkets in the 1990s thrived on the surface but sacrificed the interests of suppliers and consumers.
08:59
Wholesalers and manufacturers had to pay high fees to sell their goods in large supermarkets.
09:16
Large supermarkets pressured wholesalers to give 3 months credit, while suppliers and consumers bore higher costs.
09:36
The rise of online shopping led to the decline of large supermarkets as consumers preferred to shop online and shelves were left with outdated stocks.
09:56
Carrefour China's performance declined significantly, leading to store closures and negative public opinion.
10:32
📈 Walmart and other large retail companies are experiencing significant growth in China due to the success of the membership model and the increasing acceptance of it by the middle class.
12:01
Walmart's sales in China have grown by 28% in the past three months, reaching $5.3 billion.
12:01
The membership model is being widely accepted in the Chinese market dominated by the middle class, leading other chain commercial companies to consider changing their operations.
12:39
Suning, despite its failure to run Carrefour China well, has been able to survive due to its close relationship with China's political system.
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Large retail companies like Suning have been able to maintain stable operations due to the Chinese government's direct intervention in the retail industry.
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The Chinese government is gradually increasing its control over private enterprises, transforming the private economy into a state-owned one.
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⚠ The economic situation in China is not optimistic, with difficulties in investment, foreign trade, and the real estate market, along with internal and diplomatic concerns.
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The government's economic rescue strategy has yet to be announced.
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Frequent leaks from the People’s Liberation Army Rocket Forces and the absence of the Foreign Minister Qin Gang.
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Printing a large amount of money and over 300 policies to relax the real estate market have not improved China's economic situation.
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Implementing strict pandemic control measures and halting economic activities again may further shock the fragile consumer market.
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The story highlights the interplay between the economy, politics, corporations, and individuals in a world of constant change and complexity.
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🚗 Fraudsters in China deliberately throw themselves in front of vehicles to demand compensation for self-inflicted injuries.
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These acts are seen as comical and unique to Mainland China.
Fraudsters in China stage accidents by deliberately colliding with vehicles to extract compensation.
One individual managed to stage up to five accidents a day and amassed over 170,000 Yen ($223,233) in compensation.
🚦 Videos show individuals in China attempting to scam drivers by throwing themselves under vehicles or clinging to them, resulting in dangerous and sometimes fatal incidents.
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An elderly man was ordered to compensate a driver for emotional distress after disrupting traffic.
A middle-aged woman from Guangdong attempted to scam a police vehicle by clinging beneath it.
Various videos capture individuals trying to scam drivers by crawling under vehicles or throwing themselves under speeding cars, resulting in injuries and fatalities.
🚨 A controversial verdict in a traffic accident case sparked public debate and led to a reluctance among Chinese citizens to assist the elderly in public settings.
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Judge Wong delivered a controversial verdict based on common sense rather than concrete evidence.
Pungu was ordered to compensate Shu Sholan over $6,000 USD.
The Supreme People's Court highlighted the Shu Yu versus Wong sh road traffic accident case, leading to an increasing reluctance among Chinese citizens to assist the elderly in public settings.
🚢 Collision between Chinese Coast Guard and Philippine vessels near Renai Reef.
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The collision occurred between a Chinese Coast Guard vessel and a Philippine supply ship near Renai Reef.
The Philippines condemned the CCP for the collision, while the CCP claimed the Philippines staged the accident.
The collision resulted in damage to the supply ship and the Philippine Coast Guard vessel, but no reported injuries.
💥 Japan strongly opposes any unilateral attempts to change the status quo by force or intimidation in the South China Sea.
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Australia's ambassador to the Philippines expressed concerns about the CCP's damaging Filipino vessels and disrupting the Philippine Supply Mission.
The Philippines issued a strong condemnation, denouncing the CCP's actions as provocative, irresponsible, and illegal.
The widespread occurrence of scams in Mainland China reflects a moral degradation in societal values, with evil fostering more evil.
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🚗 Car owner expresses concern about airbags not deploying in a recent crash.
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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.
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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.
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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.
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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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Struggles of Chinese Delivery Workers: Low Earnings, Age Limit Concerns, and Unresolved Welfare Issues
😢 The deteriorating business environment in China has led to an accelerated withdrawal of foreign enterprises and a wave of closures among private businesses, causing an overcrowding of the food delivery industry and stricter regulations for delivery workers, including an age limit.
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Delivery riders in China face challenging conditions, including low wages, long hours, and negative reviews.
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The Chinese government's policies, such as the sudden relaxation of the zero Covid policy, have had a severe impact on people's livelihoods and the economy.
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There is an accelerated withdrawal of foreign enterprises and closures among private businesses in China.
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The ranks of the unemployed are swelling, leading to an overcrowding of the food delivery industry.
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There are age restrictions for delivery work, with reports suggesting an age limit of below 45 years for delivery personnel.
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Delivery platforms like Meituan have implemented age limits for safety reasons, but this approach is seen as arbitrary and unfair.
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A more reasonable approach would be to assess a person's physical condition rather than relying solely on age as a reference.
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! Maywine's delivery platform imposes age limits on riders, causing concerns among netizens.
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Maywine's delivery platform limits the age of riders to between 18 and 57 years.
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Netizens doubt if being able to register guarantees getting orders.
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Blue Well Media journalists found that some recruitment coordinators hang up or confirm the applicant's age, limiting job opportunities for older individuals.
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Unemployed people in their 30s and 40s are facing limited options due to the age limit.
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Maywine generally sets a 45-year age limit for recruiting dedicated riders, with some locations setting it at 40.
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Screenshots reveal explicit age limits for different districts and requirements such as health certificates.
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Maywine's HR mentioned that there is a slight chance of getting hired if a person looks young.
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! The job of food delivery riders in China is becoming increasingly desperate due to low income, oversupply of workers, and long working hours.
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Food delivery riders in China face age restrictions, with most job advertisements preferring younger riders.
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The job of a food delivery rider, once physically demanding and low in prospects, is now sought after due to the declining economy and scarcity of jobs.
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The income of delivery riders has been steadily decreasing, making the job even more unbearable.
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A delivery rider shares his experience of working long hours and earning very little, expressing his frustration with the job.
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The unemployed have flocked to the food delivery industry, leading to an oversupply of workers and a decrease in pay.
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A delivery rider warns others not to join the industry, citing low income and lack of orders.
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The delivery rider worked for 13 hours and only received 25 orders, earning just 100 yuan.
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🛵 Delivery riders in China face a perilous situation, with high demand and intense competition, leading to risky behavior and poor working conditions.
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Over 800 orders were received for 70 delivery riders in a span of less than 24 hours.
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There were 13 million food delivery riders in China by the end of 2021.
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In February 2023 alone, Meituan opened 500,000 new positions for riders and station managers.
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Delivery riders can only handle about 30 orders per day.
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Riders work long hours, often 9 to 12 hours daily, with almost no orders at other times.
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Delivery riders face high risks, including traffic accidents and injuries.
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Delivery platforms prioritize delivery time, leading to reckless behavior and disregard for safety.
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🚴 The welfare and protection of food delivery riders in China remains unresolved, with platforms like Mwine providing no job security, minimum wage, fixed working hours, or social insurance.
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Food delivery industry in China has become a trap for low-income earners and the unemployed.
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Mwine, a food delivery company in China, does not provide formal employment contracts to its delivery drivers.
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Chen Gu Jang, a delivery rider and advocate for workers' rights, was detained after criticizing Mwine's unreasonable demands.
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Delivery riders have no channel for appeal and the platform controls everything, including fines.
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Delivery riders lack job security, minimum wage, fixed working hours, and social insurance.
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Intense competition among internet companies has led to lowered prices and reduced commissions for delivery riders.
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The algorithm used by platforms like Mwine prioritizes riders who work longer hours, disadvantaging those who want flexible hours.
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🏢 Prime retail spaces in a country with a population of 1.4 billion are now empty, leading to deserted commercial centers and struggling small business owners.
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The once bustling commercial centers and pedestrian streets are now nearly deserted.
Small business owners are finding it difficult to keep their shops open and describe their business as bleak and barely sustainable.
The pandemic was just the beginning of the challenges faced by physical stores.
📉 The economic downturn and withdrawal of foreign capital in Shanghai has led to a decline in consumer spending, causing businesses to struggle and stores to close.
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The Bund in Shanghai, a major financial and trade center, is experiencing a decrease in foreign residents and tourists due to geopolitical reasons and the pandemic.
The decline in foreign residents and tourists has resulted in a loss of income for physical stores in Shanghai, along with a decrease in consumption levels among Chinese residents and the impact of e-commerce.
The trend of struggling stores and closures is not unique to Shanghai but is happening nationwide, as seen in the example of Guango, a first-tier city.
💼 The closure of physical stores due to the rise of e-commerce is leading to unemployment and impacting the overall economy.
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The closure of physical stores results in increased unemployment and difficulties for logistics companies and suppliers.
Consumers are reducing their spending, leading to fewer clothes being bought and fewer visits to supermarkets.
Despite the closure of physical stores, fruit and vegetable wholesale markets are still in demand as people still need to eat.
! Businesses are experiencing a significant decline in revenue, with some even losing money and expressing a lack of confidence in the future.
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Many businesses have seen a drastic decrease in revenue in October, with some losing money just paying rent.
Business owners are losing confidence in the future and believe that business conditions are only getting worse.
Businesses have experienced a continuous decline in revenue since October, with a drop of 80% in current revenue.
📉 The downturn in China's real estate market has led to a depression in industries related to it, as reflected by the empty lighting mall and closed shops.
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The lighting mall has four floors but no customers can be seen, with many shops closed down.
Business this year is even worse than before the pandemic, according to comments from citizens.
The economic data released by official sources is also not optimistic.
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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%.
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Wages in the banking industry have noticeably declined, with some employees receiving minimum wage and bank chairmen seeing their salaries drop significantly.
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The financial industry is also affected, with reports of bank employees' salaries falling from over 20,000 yuan to less than 7,000 yuan.
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The real estate downturn, which used to account for 40% of China's GDP, is a major factor impacting the banking industry.
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SPDB employees went on strike due to salary reductions, with regular staff experiencing a 50% cut and supervisors and above facing a 40% reduction.
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Wage cuts are not uncommon in the Chinese banking sector, with the average salary of employees in many listed banks decreasing by over 10%.
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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.
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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.
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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.
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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.
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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.
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The base salary of commercial bankers in China is typically low, and after deductions for various insurances, the actual monthly income is not substantial.
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🏦 Many Chinese banks are scaling down their operations due to operational difficulties and declining profitability.
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Approximately 1,200 bank branches in China have announced the termination of their operations from January to June 2023.
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The closure wave in China's banking industry began in 2022, with around 2,400 bank branches closing down.
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The reduction of offline bank outlets is driven by the increasing popularity of mobile payments and the decline in physical branch customers.
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The fundamental reason for the closures is the sustained economic downturn in China, leading to declining bank profits.
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Chinese local banks face pressure on revenue and capital replenishment in 2023 due to weak loan demand and narrowing net interest margins.
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💰 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.
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Non-performing loans have increased, making small banks more vulnerable.
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There are concerns about insufficient funds as many tier-2 capital bonds remain unredeemed.
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Some small banks have chosen not to redeem their tier-2 capital bonds, which can decrease their capital supplementation efficiency.
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The Chinese real estate market's sluggishness is causing risks to expand in the banking industry.
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📉 Chinese banks are facing increasing non-performing real estate loans, posing a common challenge for the banking industry.
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The balance of non-performing real estate loans among Chinese banks with the largest scale increased by 61% year-on-year.
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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%.
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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.
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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.
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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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