Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "Citizens Are Afraid to Spend, Shanghai Malls Are Deserted, a Full-Scale Collapse Is Coming" video.

  1. 😔 An online video reveals the decline of a once bustling mall in Shanghai, with many stores closing down and unemployment increasing. 00:32 2023 has been a particularly difficult year for workers in Shanghai, with many stores going out of business. 00:32 Wanda Plaza's 'Golden Street' is half-dead with hardly any business, and at least 30% of the shops are vacant. 01:20 Many physical stores are struggling to survive, experiencing widespread unemployment and closures. 02:15 Tourists are engaging in budget travel and only purchasing essential items, leading to a decline in business for many shops. 03:14 Psychiatric departments in hospitals have become crowded, indicating a decline in mental health. 04:11 The Decline of Shanghai Malls and China's Economy: Citizens' Fear to Spend, Deserted Stores, and a Looming Full-Scale Collapse 📉 China's economy is facing challenges with declining consumption, high unemployment, and low wages. 04:52 China's economic recovery has been lackluster with continuous downward trends. 04:52 94.8% of the Chinese population had monthly incomes under 5,000 yuan in 2022. 05:32 Consumption has become a chronic obstacle hindering China's economy. 06:17 Reform of the household registration system could stimulate consumption. 06:36 China has the world's highest savings rate, but it is due to lack of wealth rather than richness. 07:49 📉 China's economy is facing comprehensive weakness, with a decrease in domestic demand, unemployment, and a slump in key industries. 08:28 China's domestic demand has decreased, with only about 100 million people having real purchasing power. 08:28 China's economy has entered a state of comprehensive weakness, with a rise in unemployment and a decrease in overseas orders. 09:03 Consumer spending in China has been sluggish, and the three engines of economic growth - investment, exports, and consumption - have all declined. 09:23 China is experiencing deflation while facing intensified technology and economic sanctions from the United States and its allies. 10:05 China's stock market has declined, and youth unemployment and the youth marriage rate have reached new highs and lows respectively. 10:23 📉 The real estate industry in third- and fourth-tier cities in China is struggling, with housing prices declining by 20-30% compared to 2019 peak. 12:33 Nearly 8% of university students or employed youth in Guangzhou identify with the 'Four No's' 12:33 Sales of excavators in China have been declining since mid-2021 13:36 Chinese authorities have urged frugality and belt-tightening since the Sino-US trade war 14:22 Shanghai has the highest minimum wage standard at 2690 RMB, while 15 provinces have a minimum wage below 2000 RMB 14:59 Some provinces in China are experiencing high costs of living and job shortages 15:48 📉 The revival of the street-stall economy in China indicates a crumbling overall economic landscape. 16:23 Workers often exceed the monthly limit of 44 hours without receiving overtime pay. 16:23 Many companies in China pay lower wages than officially announced minimum wage. 16:23 Mainland China plans to introduce more stimulus measures to support the economy. 16:44 Cities in China are relaxing restrictions on street vending. 18:44 The street-stall economy is seen as a return to a primitive economic model. 19:44 📉 The e-commerce sector in China is experiencing intense competition, with companies like Alibaba and JD.com shifting towards low-price strategies. 20:58 Alibaba's Jack Ma emphasizes the importance of Taobao and supporting small and medium-sized businesses. 20:58 JD.com's founder Liu Qiangdong highlights the significance of low pricing for success. 21:18 Pinduoduo's performance reflects the impact of low pricing on Chinese consumption. 21:36 Taobao and Tmall change their subsidy strategy to focus on low-priced, multi-purchase goods. 22:19 The Chinese economy faces potential collapse in 2023 due to accumulated problems and corruption. 22:38
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