Comments by "Winston Smith" (@kryts27) on "China’s Steel Giant With Hundred-Billion-Dollar Assets Collapses, 18,000 Workers Jobless Overnight" video.

Steel producers in China have also been hampered by increasing labour and energy costs in China; with low productivity increase from workers due to a hire and fire culture (including skilled workers) plus unpaid wages plus non-existant social and health benefits to workers. Counterfiet or poor quality steel products also undermine consumer confidence. Countries like Vietnam and India are set to capitalize on China's low-cost, low-productivity worker weaknesses in the next decade, as both these countries have cheaper labour than China for about the same level of productivity. While this is occurring, the CCP helps to increase the irrelevancy of China on the world stage, into the future, mainly due to base labour exploitation and lack of environmental considerations and steep demographic decline; a perfect storm.
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