Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Largest Tech Supplier Foxconn Is Moving $40BN Production Line Out of China: 320K Employees Laid Off" video.

  1. 🏭 Foxconn factories in China are retreating due to decreased orders and the COVID-19 outbreak, while the company is expanding partnerships in India and Vietnam. 00:00 Foxconn factories in Liao ning and guicho China have been retreating, causing employment issues. Production equipment in Wuhan is being transported away as orders decrease. Foxconn is intensifying partnerships in India and Vietnam while experiencing a transition in its manufacturing hubs in China. 💼 Foxconn plans to enhance employment and investments in India under PM Modi's leadership. 02:00 Foxconn aims to double efforts to enhance employment, Foreign Direct Investments, and business scale in India. Foxconn acquired a large parcel of land in Bangalore for $37 million. Foxconn is actively pursuing investments in southern India and considering multi-billion dollar investments. 🌍 China's population decrease and aging workforce are causing it to lose its manufacturing advantage, while India is attracting semiconductor companies with investment and subsidies. 05:13 China's population is decreasing, leading to increasing labor costs and making manufacturing less attractive. India is attracting semiconductor companies with a significant investment of 7.6 trillion rupees and expanding subsidies. China's stringent policies and challenges in delivering orders on time have also impacted its manufacturing advantage. 😔 Job advertisements in Chinese tech manufacturing centers reveal low hourly wages for temporary workers. 08:26 The highest hourly wage offered this year is only 25 yuan (about 3.43 US Dollars). Some small electronics manufacturers offer an hourly wage less than 20 yuan (roughly 2.74 US Dollars). Amazon supplier in Dongguan is not hiring additional workforce during the peak season and offers a minimum basic wage of 16 yuan (approximately 2.19 US dollars) for temporary workers. 📉 The youth unemployment rate in China is alarmingly high, reaching 21.3%, and the Beijing authorities have chosen to withhold unemployment figures. 11:24 The youth unemployment rate in China has reached 21.3%. Beijing has decided to withhold unemployment figures. Loss of foreign enterprises like Foxconn has worsened the unemployment rate among Chinese youth.
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