Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China’s Fake Rich: Bought a Million-Dollar Luxury Car, but Can’t Afford to Fill It Up" video.

  1. 📉 A surge of new poor has emerged in major cities in China due to economic downturn and pandemic controls. 00:00 People in China are queuing for limited edition products and shouldering high debts. Advertisements reinforce the idea of spending money rather than saving. Major cities in China are witnessing an increase in the new poor after economic downturn and pandemic controls. 💼 After facing the reality of a failed venture due to the pandemic, the speaker tried various jobs but found solace in their accounting certificate and is now focused on acquiring new skills. 03:39 The pandemic led to revenge entrepreneurship and fierce competition among business owners. The speaker meticulously collects receipts and hunts for cheap accounting services to save on taxes. After shutting down their company, the speaker tried various jobs before rediscovering their passion for accounting and joining the job seeking army. 💼 Unemployed middle-class professionals in Shenzhen are struggling with economic challenges and declining assets, resorting to driving for ride-sharing platforms to make ends meet. 07:13 A rising number of unemployed middle-class professionals can be found pretending to be at work in bookstores and other establishments. Over 70% of middle-class family assets in Shenzhen are tied up in real estate, making them vulnerable to economic downturns. Laid off professionals in Shenzhen are driving their yet-to-be-paid Mercedes-Benz cars for ride-sharing platforms to earn money, despite a decrease in the number of passengers. ! The transition from a producer society to a consumer society has marginalized the impoverished who do not consume. 10:25 Factory jobs became the only option for the impoverished in the 1970s. Consumer aesthetics replaced the traditional work ethic. The impoverished are now considered valueless if they do not consume. 💰 The rise of consumerism in China led to a competitive culture of flaunting wealth, but economic downturn and pandemic changed the scenario. 13:40 Consumerism in China transformed branded commodities into status symbols. Many Chinese sought validation through consumption, leading to a competitive culture of flaunting. The economic downturn and pandemic changed the situation, causing a decline in opportunities for lucrative investments.
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  2. it's mostly from current communism; lockdowns etc. are in the past.
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