Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China Observer"
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💔 A factory in Shandong, China closes down, leading to mass unemployment and the end of a 16-year journey for its employees.
00:22
Mass exodus of foreign capital in Shandong, China due to closure of a South Korean Enterprise factory.
Employees packing up machinery and completing final tasks as the factory stands empty.
Reports of generous compensations offered to employees as a gesture of gratitude.
📉 The video depicts the closure of a furniture factory in China, resulting in unemployment and the emotional impact on the employees.
02:56
Closure of the furniture factory and resulting unemployment wave
Challenges faced by the employees during the closure process
Emotional attachment to the workplace and the decision to take belongings as momentos
💔 The pandemic has led to a surge in unemployment, causing many businesses, including restaurants, to close down, leaving the once bustling city streets deserted and desolate.
05:35
Unemployment surge and business closures due to pandemic
Restaurant owners struggling and facing closure
Struggle of a restaurant owner after 25 years in the business
😔 Struggles of business owners during the pandemic and economic downturn.
09:04
Business owners are facing financial difficulties and are perplexed by the absence of customers despite promotional efforts.
The pandemic has led to a cautious approach from both business owners and consumers, impacting consumer spending.
Many businesses, including Chinese restaurants, have closed due to the economic impact of the pandemic.
😔 The speaker discusses the challenges faced by their e-commerce business due to the impact of the pandemic on sales and profitability.
11:12
E-commerce business has been severely impacted by the pandemic, leading to a significant decrease in sales and profitability.
The speaker's business usually experiences peak sales during September and October, but this year the sales were even worse than the usual off-season.
The industry is facing challenges such as undercutting on prices, increased shipping insurance costs, and a high rate of returns.
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💥 The collapse of Evergrande, a leading real estate developer in China, has triggered a tsunami in the Chinese construction industry, leading to bankruptcy and reorganization of over 2,200 construction-related companies.
00:17
More than 2,200 construction-related companies have filed for bankruptcy since April 2023.
The collapse in the Chinese real estate market has caused numerous cement factories to shut down.
🏭 Severe overcapacity in the cement industry in Guang Xi and Guang Shi provinces due to declining market demand and excessive production capacity.
03:28
Large-scale production lines with capacities of 5,000 tons and above totaling 75 production lines with an actual cement production capacity of over 170 million tons have been invested by GUI.
Many provinces and cities, including Shandong, Shanxi, and Jiangxi, have implemented cement plant production restrictions due to declining market demand and excessive cement production capacity.
Off-peak production restrictions in the cement industry have been extended from the autumn and winter heating season to various periods throughout the year, with some regions even halting production monthly.
📉 The collapse of the Chinese real estate sector has led to a wave of steel mill bankruptcies and construction suspensions, indicating a deteriorating economy.
06:28
Revenue dropped by 28% and net profit attributable to shareholders decreased by over 50% year-on-year in the first 3 months of 2023.
Price of rebar decreased from $657 to $514 per ton, leading to numerous steel mill bankruptcies.
Country Garden, the largest real estate developer in China, incurred a net loss of up to $6.7 billion in the first half of this year, increasing the risk of debt default.
💰 Country Garden struggles to raise cash flow and faces default and restructuring.
09:53
Country Garden has made efforts to raise cash flow but it remains difficult to improve liquidity in the current market situation.
Country Garden has obtained approval from relevant bond holders for extension proposals from non-domestic corporate bonds.
Country Garden has $9.9 billion US in outstanding notes and is preparing to face default and restructuring.
🏢 New home prices in China have fallen for the third consecutive month, indicating ongoing difficulties in the Chinese economy.
13:11
New home prices in China fell 2% in September compared to August.
54 out of 70 cities saw housing price declines in September.
Real estate sales and investments in China have continued to decline by double digits.
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The Aussie lady who translated and narrated what the greedy Chinese woman at the beginning was saying, did a very good job translating and narrating🤣🤣🤣🤣🤣🤣🤣🤣🤣😂😂😂😂😂😅😄 Timestamps below:
🏝 Tourists visiting Gulang Yu in China are being exploited by local shop owners and travel agencies, leading to a disappointing experience.+++
00:04
Local shop owners on Gulang Yu are pressuring tourists to buy overpriced items and threatening them with consequences if they don't.
Tour packages to China's snow town are being sold at different prices with the same itinerary, leading to exploitation and false advertising.
Some travel agencies are offering lower prices for the same tour content, but tourists end up with subpar experiences due to last-minute changes.
🏔 Tourists face exploitation and extortion in a snowy tourist town, leading to widespread criticism.
03:18
Tourists were evicted from their hotel and left without shelter in below-freezing temperatures.
Local vendors overcharge for food and lodging, and tourists feel exploited and entertained.
Snow toown faces widespread criticism and disapproval for exorbitant lodging costs and high prices.
⚠ Chinese tourism is plagued by issues such as overcharging, counterfeit goods, and coercive buying tactics.
06:53
Tourists are often overcharged for shopping, dining, taxi services, and accommodation.
Exploitation methods include inflating prices, selling counterfeit goods, coercive buying and selling, and excessively raising prices.
Most respondents could only grin and bear it when faced with exploitation, and a significant percentage would not return to a tourist spot where they were overcharged.
🌏 The global tourism industry has seen varying levels of recovery post-pandemic, with China implementing measures to revive its sector.
09:52
In the first quarter of 2023, China's inbound tourist numbers were only 1.4% of the 2019 levels.
Paris welcomed 97.5% of its tourist volume during the same period in 2019, while Japan and South Korea saw recoveries to 65% and 53% respectively.
China has been implementing measures to revive its tourism sector, including resuming international flights and making it easier for foreigners to use mobile payment systems.
⚠ Foreign tourists and investors in China face significant security threats and risks due to the CCP's emphasis on political security.
13:14
Deteriorating relations between China and the West have deterred foreign tourists from visiting China.
The revised anti-espionage law by the CCP has caused considerable unease among foreigners and led to travel advisories from the US government.
The CCP is using the threat of external espionage to stoke nationalism and garner public loyalty to the regime.
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🏭 Many factories in Shin chin have closed down due to a decline in employees and business.
00:26
The Victory Toy Factory in Shin chin closed down after surviving the pandemic for 3 years.
Heo Enterprises, a large factory in shenen, has relocated, leaving the area empty.
China's exports and imports declined by 6.2% in September, according to the general administration of customs.
💰 Bilateral trade between China and Russia reaches a new record in September, driven by crude oil, natural gas, and grain.
02:57
Trade between China and the EU fell by 11.6% in September.
Imports from developed countries declined by 1% despite a 10% growth in imports from Russia.
Foreign companies are pessimistic about China's economic recovery.
📉 The US-China trade deficit has reached $41 billion in exports alone in the first eight months of this year, leading to operational difficulties and closures of factories in China.
05:57
Shinan Electric, a 38-year-old company, announced its dissolution due to a global economic downturn and adverse business conditions.
Major manufacturers like Shenan and Dongan are also facing operational difficulties and witnessing the closure of factories.
📉 China's economy is on the brink of decline as foreign capital pulls out and the government tries to salvage investments.
08:29
China's State Council issued guidelines to enhance the protection of overseas investors' rights and intellectual property law enforcement.
President Xi Jinping's gestures towards foreign businesses are seen as superficial rather than genuine concessions.
There is growing consensus that China's economy has passed its zenith and is on the brink of decline in the medium to long term.
💰 The Chinese government's measures to counteract the real estate crisis and regulatory crackdowns have created a tense investment environment, but continuous foreign investments have supported China's economy.
10:58
The Chinese government has promoted and exaggerated the achievements of China's economy to attract investments and reinforce its governance legitimacy.
The CCP's inflated economy, fueled by excessive praise, led to the misconception of China's genuine economic reality.
The Xi Jinping Administration engaged in money diplomacy and launched the high-profile Belt and Road Project, primarily benefiting the elites and bureaucratic workforce.
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💰 China's real estate company Country Garden is facing financial difficulties due to its failure to make an interest payment, which could lead to a credit rating downgrade and hinder its ability to secure funds from the US dollar market.
00:07
Country Garden's failure to pay a modest sum of $15.4 million within the grace period could result in a cascade of its $15 billion foreign debt and a credit rating downgrade.
Country Garden's contractual liabilities amount to a staggering $700 billion, primarily from advanced payments by home buyers and outstanding accounts payable.
Country Garden's immediate financial commitments total $110 billion, raising questions about where the money has gone, particularly in relation to its Forest City project in Malaysia.
📉 China's property bubble burst has led to a significant downturn for Country Garden, with dwindling property sales and mounting debts.
03:42
Country Garden reported a revenue of $200 billion in the first half of the year with a declared loss of $7 billion.
Property sales for Country Garden in July amounted to $1.6 billion, which decreased to $840 million by September.
Major shareholders of Country Garden cashed out $5 billion and lent the sum back to the company, positioning themselves as creditors.
💰 Country Garden, a Chinese property developer, is facing financial challenges due to shrinking sales and incomplete projects, leading to the need for additional funds.
06:45
Monthly sales have shrunk to $800 million and show signs of further decline.
Rumors suggest the possibility of state-owned enterprises injecting capital into Country Garden.
Country Garden is in talks with foreign creditors regarding debt restructuring.
🏠 Homeowners in rural areas of China are facing financial difficulties after purchasing houses from Country Garden.
09:45
Country Garden promised to deliver nearly 2 million housing units, but homeowners are still waiting for their houses.
Homeowners have been burdened with mortgages that will last for 30 years, while Country Garden remains unapologetic.
Home buyers are unable to default or file for personal bankruptcy, while other stakeholders in the real estate chain face no accountability.
📉 The decline in China's property market has led to bankruptcies, layoffs, and financial strain for local governments.
12:34
Country Garden faces bankruptcy due to the decline in the property market.
Upstream industries like steel, cement, and glass manufacturing are also affected.
Local governments are facing financial strain and resorting to salary cuts or layoffs.
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🔥 Multiple incidents of electric vehicles catching fire in China raise concerns about vehicle quality and safety.
00:00
Electric car made by Nano EV catches fire in HuangTian Town, Hojo City, Guangxi on March 6, 2023.
A Han electric vehicle catches fire after colliding with a guardrail on the Belmont Expressway in Guangxi province on April 5.
Great Wall Aura EV catches fire at a charging station in Nanyang, Guangxi on April 6.
🚗 A customer complains about serious motor system failures in an electric vehicle and the dealership's lack of response.
03:05
The customer lodged a complaint with a local District Market supervision Bureau but has not received a response yet.
The customer expresses concerns about the unknown reason behind the malfunctions and the subpar quality of the vehicle.
The customer mentions the specific model of the electric vehicle, wiwang by Bay, and highlights issues with the craftsmanship.
🔊 Chinese brands compete by reducing prices while foreign brands increase prices but improve product quality.
05:37
Chinese brands continuously reduced prices, while foreign brands increased prices but significantly improved product quality.
Chinese electric vehicles have been heavily criticized for their battery quality, with the cost of battery replacement outweighing the savings from using an electric car.
🚗 Chinese electric vehicles face safety and quality issues, leading to an anti-subsidy investigation by the European Commission.
08:19
Chinese electric car brands BYD, MG, and Aura have faced safety and performance issues.
Aura's electric vehicle emitted electric currents and had a burnt smell, with no plans to change its behavior.
The European Commission is launching an anti-subsidy investigation into Chinese electric vehicles due to artificially low prices.
🔋 China's aggressive domestic subsidies aimed at capturing the international market are backfiring, leading to a surplus of batteries and trade barriers.
11:16
China's battery market is experiencing a supply-demand imbalance due to substantial subsidies from the CCP.
China produced 233.5 gigawatt hours of batteries in the first five months of this year, resulting in a surplus inventory of 68.4 gigawatt hours.
Trade barriers, including import requirements and tariffs, are making it harder for overproducing Chinese manufacturers to export their surplus.
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📉 The Chinese Communist party's stance on private ownership has shifted, leading to a decline in support for private businesses.
00:46
The CCP voiced support for the private sector, but President Xi appears less enthusiastic about private ownership.
State-owned behemoths have taken center stage, overshadowing private enterprises.
Private businesses in China have faced unsettling incidents and a decline in foreign investment.
📉 Private businesses in China face uncertainty and inconsistency in government support, as seen in the cases of Country Garden and Schwentaw.
04:07
Country Garden received privileges and support from the Chinese government during economic recessions but lost them once state-owned housing enterprises regained stability.
Schwentaw, an agrarian entrepreneur, faced backlash from authorities for overshadowing the achievements of the Chinese Communist Party with his successful hospital.
💼 The Chinese government suppresses powerful private giants through financial manipulation, legal and policy restrictions, and resistance to global listings.
07:49
Private enterprises contributed to 60% of China's GDP, generated 80% of its employment opportunities, and accounted for half of China's tax revenue in 2019.
Private businesses shouldered a debt of 120 trillion U.N by 2020's close, posing potential seismic implications for China's financial landscape.
Private enterprises play a pivotal role in societal stability by employing 300
😕 Recent policies and regulatory clampdowns in China have led to apprehensions and disillusionment among private sector players.
10:15
Stringent scrutiny and public denunciation of prominent private players have cast an ominous cloud over the segment.
The Chinese Communist Party's approach towards private sectors swings between propelling their growth during economic troughs and restraining them during prosperous times.
Entrepreneurs are gravitating towards other nations like Singapore, Dubai, and Malta due to grievances about China's trajectory and skepticism of its leadership.
📊 The establishment of the private economy development Bureau by the national development and Reform Commission and ERC seems to be a gesture of goodwill, but there's more than meets the eye.
13:38
The Bureau holds significant authority under the national development and Reform Commission, granting them decision-making power and positioning them as a critical link in policy approval processes.
Lee Chong's reluctance to establish a private economy development Ministry at the ministerial level suggests a delicate balance between rejuvenating the private enterprise spirit and avoiding concerns of privatized entities becoming quasi-state owned.
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💸 The P2P online lending industry in China has led to a financial crisis, with leaders sentenced to life imprisonment and victims seeking redress.
00:08
Leaders in the P2P online lending industry sentenced to life imprisonment
Victims of P2P platforms seeking redress face oppression from authorities
Government crackdown on P2P platforms and arrest of prominent figures
📉 Hing Capital engaged in illegal fundraising, leading to a rapid increase in transaction volume but also increased default risk and bad debts.
03:22
Hing Capital misused raised funds for over 20.4 billion yen, committing fundraising fraud.
The platform experienced rapid growth, with transaction volume increasing from 5.1 billion yen in 2013 to 105.2 billion yen in 2015.
By the end of 2015, bad debts amounted to 500 million yen, indicating increased default risk.
⚖ A legal case involving fundraising fraud and illegal activities in China resulted in severe sentences for the defendants.
06:45
Ling Wen was convicted of fundraising fraud and sentenced to life imprisonment, with 11 other defendants also receiving prison terms and fines.
Ling Wen and associates illegally raised 38.6 billion yen from over 150,000 people through online and private lending activities.
Despite financial shortfalls, Ling Wen continued illegal fundraising activities for debt repayment and defrauded over 11.8 billion yen.
⚠ Illegal fundraising activities and financial fraud led to the collapse of a major P2P platform and associated companies, resulting in arrests and asset seizures.
10:03
Penti P gang and others engaged in illegal fundraising activities despite capital shortfall and high bad debts
Shne online, a major P2P platform, had a cumulative transaction volume of over 117 billion yen before its collapse in 2020
Neo Capital officially collapsed in January 2021, leading to arrests, frozen accounts, and seized assets
💔 Victims of a P2P lending scam in China are demanding justice and facing devastating consequences.
13:44
Over 70,000 ordinary lenders were affected by a P2P lending product default, totaling 10 billion yen.
Victims believed that the government and high officials allowed the exploitation of their money, leading to despair and even divorce.
P2P platforms, once legal and heavily certified, failed to take responsibility when they collapsed, leaving victims with no recourse.
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China's Ambitious Renewable Energy Goals: Covering the Taklamakan Desert with Solar Panels Raises Questions about Dominance, Tax Evasion, Pollution, and Human Rights Violations
🌞 A video circulating on Chinese social media suggests the visual spectacle of covering the entire Taklamakan desert with solar panels, highlighting China's ambitious renewable energy goals.
00:32
China is investing heavily in solar energy projects in its desert regions.
00:32
Covering just 1% of China's desert area with solar panels could meet the country's entire electricity demand.
00:47
The Chinese government is constructing a massive new energy project called 'Ning Power Enters Hanan' to transport electricity generated in Ningxia to Henan.
01:16
The project's total investment is estimated at 100 billion yen (approximately 13.7 billion US Dollars).
01:40
Challenges arise due to the precarious location of electricity pylons in sandy and barren areas.
02:24
The project includes a 'Greening for Line Protection' plan to transform sand dunes into fixed or semi-fixed sandy land and restore vegetation.
02:47
China's substantial investments in the new energy industry highlight its emphasis on solar energy development.
03:48
🌍 The global rivalry between China and the US in the solar energy industry intensifies, with China's dominance and alleged tax evasion under scrutiny.
04:28
China's long-standing dominance in photovoltaic power generation is aided by political support, cheap labor, and tax evasion tactics.
04:28
India is investigating 40 major Chinese photovoltaic companies for suspected tax evasion.
05:01
Chinese PV companies may face hefty fines if tax evasion is proven.
05:37
There are signs of domestic component prices falling below their cost price, potentially leading to dumping.
05:52
The US is lagging behind China in solar panel and electric vehicle production.
07:27
Europe is seeking alternative energy sources due to a scarcity of traditional resources like natural gas and oil.
07:48
Germany was a leading player in the global solar manufacturing industry in 2005.
08:03
🌍 China dominates the global solar energy industry but also leads in environmental pollution.
08:34
Germany encouraged solar panels with subsidies, but later raised the price of renewable energy resulting in job losses.
08:34
China produces 80% of the world's solar panels and dominates the supply chain.
09:11
China emits the highest amount of carbon dioxide and has severe air pollution.
10:23
The Chinese government's emphasis on environmental protection may serve as a guise for expanding the new energy industry.
11:25
The production of solar panels causes ecological damage and the recycling of PV products is underdeveloped.
12:01
China's dominance in the global green energy manufacturing sector is aided by access to cheap labor, including political prisoners.
12:31
The international community is recognizing human rights violations associated with green energy production.
12:48
🌍 The Chinese Communist Party's involvement in the photovoltaic industry and human rights violations have led to sanctions and global awareness of forced labor practices in Xinjiang.
13:02
Huawei became a leader in the photovoltaic inverter field with support from the CCP.
13:02
Huawei's smart PV products are used in over 60 countries, reducing CO2 emissions.
13:41
Sanctions imposed on CCP officials increased global awareness of human rights abuses in Xinjiang.
14:24
International media and government institutions have confirmed and condemned CCP's human rights abuses and forced labor practices.
14:39
The solar energy industry's supply chain is dependent on Xinjiang, raising concerns about supporting forced labor.
15:01
China's photovoltaic industry is crucial for future discourse power in new energy.
16:44
US Customs seized solar components suspecting they originated from slave labor camps.
17:21
📉 The net profit of Tongwell, a leading company in China's photovoltaic industry, dropped by nearly 70% in the third quarter, while the net revenue and net profit of TCL Junguan, a silicon wafer company, both fell by more than 20%.
17:55
Tongwell's net profit in the third quarter dropped by nearly 70% year on year.
17:55
TCL Junguan's net revenue and net profit both fell by more than 20%.
18:02
On October 26, Tongu SN price opened significantly lower, falling over 7%.
18:11
Tongu and TCL Jong stock prices reached their lowest levels since March 2021 and mid-December 2020, respectively.
18:21
The third quarter reports released by Tongu and TCL Jong on October 25 were the catalyst for the decline in stock prices.
18:39
Tongu's net profit in the first three quarters decreased by 20.25% year on year.
18:46
TCL Jong's operating income and net profit in the third quarter decreased by 24% and 21% year on year, respectively.
19:33
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🌍 Beijing claims to be the world's ideological capital, sparking discussions and ridicule.
00:00
The article praises the concept of a community of shared human destiny proposed by China.
China has put this concept into practice through initiatives like the Belt and Road.
💰 China's strategy of using financial power for global dominance through aid and investments in various countries.
02:55
China has been conducting a global money throwing campaign since 2013, offering aid in the form of debt forgiveness, free education, infrastructure projects, and interest-free loans.
The Belt and Road Initiative, introduced in 2013, is a vital strategy for major country diplomacy and involves investing in nearly 70 countries and international organizations.
Criticism of the Belt and Road Initiative has been growing over the years.
🌍 The Belt and Road Initiative faces difficulties and criticism, with some countries considering withdrawal and concerns over Italian sovereignty being compromised.
06:02
Many projects under the Belt and Road Initiative face difficulties and stagnation, causing setbacks.
Italy, the only G7 country to join the initiative, has seen widespread debate and concern over its participation.
Italy intends to exit the Belt and Road Initiative, citing concerns over partnership benefits and Italian sovereignty.
🚢 The Hambantota port in Sri Lanka, hailed as the country's gateway to the developed world, has turned into a debt crisis and political instability due to China's debt trap strategy.
09:15
The Hambantota port manages just one ship per day, despite promises of increased trade and economic wealth.
A report highlights that the Belt and Road initiative is not merely an economic project, but a strategic move by China to capture territories.
Many countries have canceled or downsized their Belt and Road projects due to fears of China's exploitation and debt trap strategy.
🌍 Beijing is seen as the world's ideological capital, but there are other contenders for the title.
11:57
Saddam Hussein mentioned Baghdad as the world's ideological capital.
Chavez, Gaddafi, Assad, and Kim Jong-un also declared their cities as ideological capitals.
Beijing is considered modest compared to other cities aspiring to be ideological capitals.
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