Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Shanghai Is Doomed: 70,000 KTVs Have Closed Down, No Nightlife!Economic Decline Worse Than You Think" video.

  1. 💔 Shanghai's KTV and nightclub industry has suffered a significant decline, with about 2/3 of establishments permanently closing down, leading to financial losses for investors. 00:15 Nearly 500,000 KTV and nightclub establishments in Shanghai have shut down. Prominent KTVs like Shanghai KNS, Golden Age, and YuEmpire Mansion have permanently closed. A luxurious KTV that opened during the pandemic experienced constant opening and closing due to the impact of COVID-19. 📉 Shanghai's economy is experiencing a downturn, with closures and transformations of businesses, leading to concerns about the city's potential. 02:59 Shanghai's commercial streets and major shopping malls are showing signs of economic decline. Shanghai's nightlife has become monotonous and many KTV lounges have shifted to other sectors for survival. The closure, transformation, and relocation of shops, from small ones to larger outlets, indicate a considerable downturn in Shanghai's economic landscape. 💼 Asian karaoke venues face challenges due to high rent costs, music copyright fees, and a decline in young customers. 05:31 Rent costs are a significant contributor to high operating costs for karaoke venues. Karaoke venues face significant expenses in music copyright fees. A decline in young customers is a crucial reason for the decline of karaoke venues. 💰 China's economy is facing deflationary risk, with a decrease in consumer spending and dropping product prices. 08:11 China's economy has not experienced a real rebound post-pandemic. Consumer Price Index in China showed a year-on-year decrease of 0.3% in July and 0.2% in October. Consumers are increasingly unwilling or unable to spend due to economic uncertainty and job market competition. 🛍 A group called 'Do Not Buy' in China has attracted over 360,000 young people discussing how to spend more rationally and resist consumerism. 10:59 Many bloggers are releasing videos on platforms like BillyBilly and Douyin to eliminate the desire to purchase. Members of the 'Do Not Buy' group share strategies to resist spending in consumer-driven environments and peer pressure. Elaborate outfits and branded handbags hold social value among colleagues in Shanghai.
    1