Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "US Buyers Steadily Moving Supply Chains Out of China! Industry, Exports, and Investments All Decline" video.

  1. 😔 Layoffs in Shanghai have left many unemployed and searching for jobs, causing a bleak situation in the city. 00:00 Half the company was laid off without full compensation due to the risk of the company going under. Many people in Shanghai are struggling to find jobs, with some having no luck for over six months. Living in Shanghai has become increasingly difficult this year, with every industry facing challenges. 📈 Industrial output in Shanghai increased by 12 percent in July, but the cumulative increase for the year was lower than previous months. 03:15 Industrial output in July increased by 12 percent compared to the previous year. Cumulative increase in industrial output for the year was 7.7 percent, which was 4 percentage points lower than the previous six months. The decrease in industrial output in January was due to pandemic-related restrictions and the Lunar New Year holiday. 📉 SMIC, China's largest integrated circuit wafer manufacturer, reported a double-digit decline in revenue and net profit in the first half of 2023. 07:52 SMIC's revenue decreased by 19% and net profit decreased by 34% compared to the same period last year. The revenue from wafer foundry services dropped by 21% and wafer sales volume decreased from 3.7 million pieces to 2.7 million pieces. SMIC warned about potential future trade restrictions and barriers due to escalating trade frictions between the US or other countries and China. 📉 The Shanghai property market is experiencing a significant downturn, with luxury properties seeing substantial price drops and a decrease in sales. 12:31 Luxury properties in Shanghai are now frequently appearing in the secondary market, with many experiencing ten-million yuan price drops and almost halving their original prices. In July, there was a 15 percent decrease in per-unit transaction prices compared to June, and less than 100 luxury second-hand homes were sold. The collapse of the Shanghai property market is resembling a melting ice cream, with both manufacturing and real estate sectors experiencing a downturn. 😢 Brick-and-mortar stores are facing widespread distress, with many closing down or struggling to stay open due to high costs and low profits. 16:54 Brick-and-mortar store owners are forced to abandon their establishments and leave. The retail sector is experiencing a significant increase in closures. This year, it has become extremely difficult for store owners to cover rent and basic living expenses.
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