Comments by "Kenz300 x" (@KJSvitko) on "Youth unemployment in China hits record 20.8% in May" video.

Xi has killed the "Golden Goose" He has moved the country away from a market economy and back to a planned economy with government owned businesses. Unemployment is rising. Property developers are bankrupt. Banks are running out of money. Local governments are broke. The lockdowns caused many small and medium businesses to go bankrupt. Empty shipping containers are pilling up at the ports. Foreign companies and foreign investors have left for friendlier countries. The risks in China are too high.
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Lie, cheat and steal are all too common today. China allows too much corruption. Theft of intellectual property is common. They try to dominate the market and put other local companies out of business. Spammers, scammers and phishing accounts are common and not prosecuted. Disinformation is a common tool to divide people and rally supporters. You can not trust any numbers produced by companies or the government from China. China's economy is in slow decline. The virus lock downs sped it up. Lower GDP, higher unemployment, property developer bankruptcies, small and medium businesses going broke, local governments running out of cash, local banks running out of cash and individual personal despair of the population will lead to lower consumer spending.
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China's economy is much worse than people are reporting. Unemployment is rising. 16 -24 year old unemployment is 20% Unemployed people are not huge consumers. They do not buy homes. They do not get married or have children. Individuals, foreign corporations and investors are fleeing cities and the country. Numbers reported by the government can not be trusted. Steel production collapse is a good example of the huge decline in the economy. The property developers collapse is starting to ripple thru all its suppliers. Steel is the most visible. More to come. The house of cards built on debt is not sustainable. The Ponzi scheme has been exposed.
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