☨St Louis IX opposed paganism, hæresy \x26 debauchery
China Observer
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Comprehensive Summary:
This episode of China Observer first features a female delivery driver who is now dealing with much more competition from a pretty girl and also from groups of people who used to only work as teams in other industries and who; now; are also working as delivery workers to survive. This lovely lady is now struggling because of the communism of the Chinese economy causing more competition over work necessities amongst poor employees. The 2nd clip features a segment of a call between a delivery driver from China and the customer service representative who acts as his manageress in certain ways.
This gentleman who is a delivery worker in China finds himself in a difficult situation with insufficient money left for meals due to a lack of incoming orders. He is very poor and he fears starving to death soon. This Chinese gentleman is very worried by his lack of money and because of his lack of food and other necessities. In desperation, he tearfully pleads with the customer service department of his food delivery platform for more orders, but is informed that they cannot increase his order volume. Throughout the three-year pandemic, Chinese citizens have endured severe lockdown measures and the economy has been on the brink of stagnation, resulting in a dramatic shrinkage in the number of jobs. Despite expectations that normal life would resume once restrictions were lifted, China's economy did not heat up after the end of the lockdowns. The manufacturing industry continued to slump and many companies fell into financial difficulties, leading to frequent cases of worker unemployment, wage cuts, or non-payment of wages. Some analysts predict that China's future employment environment will only deteriorate further.
In Dongguan, Guangdong, known as the "world's factory" due to its thriving processing industry, many factories have recently shut down and a significant number of factory buildings are idle or available for rent. A video captured by a Chinese citizen shows an industrial park in Dongguan that has become a wasteland due to consecutive factory closures. The glass door of a storefront is shattered and the building stands empty. The escalators have stopped working and are covered in dust and rubbish.
Shanghai, China's financial and economic centre and an international metropolis, has also experienced a decline in various aspects of its economy since last year. Many physical stores have gone out of business and even large supermarkets have not been spared. The performance of Shanghai's three long-standing department store companies - Jiubai, Xujiahui, and New World - has significantly declined. According to a report from "Times Weekly", these three major department store companies reflect the current difficulties faced by many department stores and supermarkets.
The Qibao CapitaLand Mall in Shanghai has now become an abandoned building. Incomplete statistics indicate that in 2022, more than 40 department stores in China bid farewell, among which 27 had been operating for over ten years. Traditional supermarkets such as Carrefour China have also faced operational difficulties due to the impact of the pandemic.
A survey conducted by the Industrial Research Centre of the Beijing-based "Finance and Economics" magazine found that over 1.94 million companies were deregistered in China's 40 wealthiest cities in 2022. Data released by China's National Bureau of Statistics shows that from January to April, the total profits of industrial enterprises above the designated size nationwide fell by 20.6% year-on-year.
At the recent "2023 China Qianhai Entrepreneurs Summit," Sun Liping, a professor in the Department of Sociology at Tsinghua University and a doctoral supervisor in economics, gave a keynote speech titled "Finding Certainty in an Era of Uncertainty." Sun Liping believes that China will face a potentially lengthy period of economic contraction for three reasons: firstly, large-scale concentrated consumption in China is over; secondly, the increasingly severe international environment now faces a process of dismantling and restructuring after globalisation; and thirdly, the scar effects of the pandemic have led to a society with diminished desires.
Sun Liping worries that authorities may try to recoup the lost three years by greatly increasing the intensity of stimulating the economy, leading to a new round of economic overheat, rising inflation, and rapidly increasing asset prices. Sun Liping was also the thesis advisor when Xi Jinping was studying for his Ph.D. at Tsinghua University.
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