Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "90% Shops Are Empty in Shanghai u0026 Guangzhou? Streets Empty, a Wave of Retail Closures Looms" video.

  1. 🏢 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. 00:44 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. 03:01 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. 06:34 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. 09:02 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. 12:18 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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