China’s 470 Million Middle Class Wiped Out, No Desire to Spend: 618 Shopping Event a Disaster. 

No, there is no long run. China is already screwed.

they support rus and hate west and jap. dao spirit. dao friends and hang out with enemies. their weird tactics.

Lol, even the chinese disagree. Junk metrics don't correspond to Chinese household income

"According to the CCP" is correct. What is their real gdp??

Fake GDP. Everything is tofu low quality. Copy cats society😢 Thank u CCP 4 f**king up China's economy😮 Blessings to 🇹🇼 & 🇺🇦 + 🇭🇰 ❤❤

Never expect the CCP to tell the truth.

More like shrinking -5 per year

Its supposedly a socialist country so they could conceivably restructure the whole economy toward using all their excess productuve capacity to provide goods for the populace. However if they sent free cars to the hinterlands what do the city people get in return? That is the problem with a modern economy where agricultural products are low value. Since China isnt' self-sufficient in a lot of things they can't do what the US did to get out of the Depression without watching the Yuan depreciate.

"Why do you need this money?" "To help my local economy."

Next thing will be those bank just keeping peoples savings ... "Oops, your money isn't here"

@@nicholasrockall7308 already happening

CCP will give bad Loans all around the world, but will not take care of their own people. Sad situation.

@@jimmyerbe768 Just like the first person in this video, they are betting on the bright future. CCP gave out loan in exchange for power or influence over the foreign countries. They are unable to cash out on those loans yet.

Hobbies aren't really a big thing in China. The lifestyle is pretty much shopping, watching TV and playing with their phones. Older Chinese can add square dancing and mahjong to pass the time.

Given their currency devaluation, they might as well spend it. Use it or lose it.

@@iiisaac1312 Better spend it on something they can't take back, like a steak dinner. Don't use the money to put toward a house that might not exist.

​​@@freeman10000I never buy coffee at Starbucks $5. I only make Lipton tea from tea bags which only costs 5¢ or 4毛钱。

They have nothing else to do.

Yeah, but CCP has all the guns. Now what?

@@davidtaliaferro Soldiers are people too. Historically it doesn't work out too well for them when a tyrannical regime orders the military to shoot the populace just because they are protesting and trying to assert their rights.

Patriotism of Xinnie PorkPooh #slopagandpa - With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters. -Chinese 🇨🇳 property Ponzi sector, which accounts for 30% of GDP, is crashing -Tofu Exports and Western imports, accounting for 37% GDP, are down. -Foreign investment is falling over 90% compared to it's peak in 2018. -Foreign visitors are down 96% compared to the pre-pandemic level in 2019 with less than 200 americans left. -Consumer prices are experiencing hyperstagdeflation. -Youth unemployment hits over 21% (in reality 50%+ after eliminating faked numbers), a record. -It's fast shrinking workforce is 10 years old than neighboring countries. - During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times. - It has printed more money than the US and Japan combined, while it's economy is only half of them. - Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg. How will you do in a world where real estate companies, local governments, and banks across China have crashed or fled? That is your challenge for the future (will you own a trash house with the mortgage?). Pensions will be laundered and your daily pay will be 2 dollars. Mengze harvard daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card Arctic Catfish Shenzhen: laughs at how Leeks feed her WOW SO GOOD AWESOME Organ Leeks #sloprosperity #theskydontlie

@@sleepinglaffey3886 Thanks Laffey.

@@k9killer221 Its getting difficult to navigate though the k e y word filtering. I had to remove some bits because they tripped the system

Exactly..!

WOW SO GOOD

same thought .... and it's half the price !

Agreed

AI 5G Financial Expertise

Chinese have the habit of eating outside home cooking is rare I found 95% of Chinese origin Singaporeans don't cook at home 😮

Most professional jobs in the US are still preferring or requiring a four year degree. So...

@@fdm2155 most “professional” jobs don’t pay nearly what they used to in todays dollars and the degree still doesn’t make sense. Eg., a position for manager at Enterprise Car Rental requires a degree, but pays $25/hour. Or a Starbucks barista or an Amazon truck driver. Same. Get the picture? Do you know what they pay teachers now? Yes, for traditional white collar professions, eg., doctor, engineer, IT, etc., a degree is necessary and eventually eventually eventually pays off. But the old school American dream even for those careers is a joke. Gotta put the wife and mother of your kids to work too. For most, college is a lifelong debt crippling scam. Ask your average college grad about that.

@@mikemccormick8115 Pay for almost everyone has been lagging behind inflation for 40 years. That doesn't change the fact that most companies will still require a four year degree for all sorts of entry level positions. So if you want to get on the ladder you almost certainly need the degree. Few companies have in house training that will allow someone to work their way up. Again, that's also been true for years. They'd rather poach someone with the requisite experience than invest in training someone.

​@@mikemccormick8115 I'm curious. As someone from Asia, I was always confused about why nurses are in demand in the US, they have so many people why aren't they nurses? It's practically a standard in my country. My brothers would even discourage me from going to any courses and going to ABM or STEM Is it because Americans find nursing hard? I mean it is but even I, someone who doesn't even go outside much and spends time drawing. Would still become a nurse if I had to Hell, I like art. I want to do art but I will still take engineering Aerodynamics since that's my fallback course. If art doesn't work out then I'll just become an engineer, no biggie

@@QuiiziYui Nursing is always in demand for a society of sick people. I think most young Americans understand nursing is hard work. It is not uncommon to see male nurses now. But there is a shortage. Many Americans have become fat, lazy, and weak. But forget getting a good job if you have a Liberal Arts degree. Most nurses where I live (Las Vegas) are from Philippines. You are smart to have a fallback plan to be an engineer, companies want female engineers, in case your art doesn’t pay the bills well. My daughter-in-law is one and her company treats her like a queen. Perhaps your brothers want more for you than nursing, a hard hands on job that doesn’t pay as much as it should, vs a thinking, more prestigious career like engineering. Good luck.

Depression

@@dedriannehartgers629 Collapse

mid. class means wants and demand. lower class means tamed with a bowl of rice. very stable.

They won't spend until a Depression forces prices to become lower (depressed prices). The reason why depressing prices is "bad" is that it also decreases the value of investments and the income for a business.

I can’t have a bank account because of autism but i do stuff my mattress because that’s my bank I can’t open any account like that so I guess I’m okay.

That's women for you. Same in every culture!

@@wshyangifynot in my culture 😂 sorry find a ultra rich dude

This gal is proof that most women are greedy, and got no logic or common sense.

A greedy woman with no logic or common sense.

No logic or common sense, just greed and narcissism.

Absolutely. I have been there twice in the last year and I make 1.4 million yuan equivalent in U.S. dollars and I would not buy and own all the stuff that I see these folks have. They have to all be in serious debt.

The smart money left China years ago. People found creative ways to get the money out, and many bought property in the USA even if it was swamp land that might lose 50% of its value. Better to lose 50% than to lose 100%. Americans get alarmed that "China is buying up all American land". No, the desperate money was buying up a lot of worthless land they could get quick, just to escape the reach of the CCP.

Just like caviar left out on the shelf for too long, they'd still be rotten and expired 😂

@@wshyangify 🤣

100 yuan is a lot for a t-shirt. That's 13 bucks.

⁠@@protorhinocerator14213 bucks isn’t much for a shirt

@@Enigmatic22 OK but she spent 1300 bucks.

@@protorhinocerator142 I’d have to say 1.3k bucks is bullshit for a t shirt, You can get so much better clothing with that value.

I dont

It is too late. We sold our souls first making a few Americans rich to offshore our manufacturing to them. China has decimated our working class also and it continues to

I think they are also moving to find cheaper wages and to avoid the risk of CCP confiscating their assets, imprisoning executives. Not to mention the opportunity for better quality of life outside China.

It's gonna take several decades for foreign investments to go back even after xi jingping dies.

Xi proved foreign money wasn't safe in China. So the foreign money pulled out. If he wasn't such a commie he might understand how the free market works.

Foreign investment has moved on. Much of domestic investment is also leaving if they have a way out.

Nothing will really happen. Disobedience is always a thing over there. Unpopular rules are ignored and they usually don't do anything unless national security is endangered.

That’s kind of already happened

Yep, I was in a bit of financial stress myself about a decade ago, so I bought myself a coffee percolator for around $60, knowing that it would save me money in the long run (takeaway coffee was about $4.50). Now, my finances are good again, but I still prefer to make my own coffee instead of walking up to the local cafe.

@@nicholasrockall7308 Yeah, I like lattes so I just got a milk frother for my nespresso machine. I like it better than Starbucks... and a fraction of the cost, not even close.

@@piquant7103 That's a fair enough comment, and it's true too, but, some of us just love coffee mate. I don't mind green tea in small doses, although personally I prefer black, but that's just me :)

@@piquant7103 Not really the point. Drink coffee or tea or whatever, but make it at home for cheap.

@@piquant7103 I've tried home made shine. It's nasty.

Exactly right mate, people just need to seperate their 'wants' from their 'needs'. You can still live happily on a limited budget, it's not difficult.

No... it's GOOD. Why waste money on clothes and crap that doesn't matter when you're gone? Why invest in money that isn't real? Build a life, not a bank account. Don't feed someone else's scam. They said, "Let it rot." Why? Because starving felt better than being worked to death. But why choose either?

@@tuvoca825 Wise words mate, it's better to accumulate good memories, rather than expensive possessions.

Forget thrifty. Go full-on cheapskate. And don't apologize for it. It's not about how much money you make, but how much you get to keep. When you make 100K but you blow 100K (or more) you're just another rat in the maze. Cut entertainment expenses first. Cook at home. If you have to drive, combine trips. And find other cheapskates so you can share ideas. Ideas are free.

@@protorhinocerator142 Bravo.! go all the way, and be comfortable with it. Well done :)

Debt is evil. Eat ramen noodles for 2 years if you must, but get out of debt now. Have a solid plan for eliminating debt and stick to it.

Might as well. The government can't repossess a steak you ate last week.

Where'd you get the 90% number? Sounds faked.

A wise philosophy

Being a cheapskate is a hobby you can afford to enjoy for a long long time. I don't even pretend to be frugal. Cheapskate is where it's at.

There are still videos of Chinese people on their knees begging the ccp to save them or protesting while holding portraits of Mao Meaning they still see the ccp as a solution to their problems as opposed to the source of every last one of their problems As long as this belief persists the party will be safe .

That amount could be someone monthly salary

Where are you going to sell it? It's too expensive to rent a place and you can't have a stall! You will be chased away!

No. China leads the world in most of the food production. That is not the problem. The foundation remains, the superstructure is disintegrating. The city economy is unraveling.

Every bit of land that now contains a hi-rise once grew food .

@@ozeight4278 They tore up the best land to "urbanize" and ended up building ghost cities with tofu buildings. The buildings are the kind of tofu you can't eat.

hahahaha

that was clever :)

Prices won't go down cause money isn't worth anything 😂

"eat each other?"

@@garymartin9777 yea Canibelas

Yes, they already have problems with selfishness and lack of care for one another, due to communism. So, when things get worse over there, say in about two or three years from now, the country will become a nightmare with crime and social breakdown. They'll be eating each other alive.

@@ericbeattie761 I agree. When it gets bad, and it will, they will go Mad Max in China. Food will disappear and people will resort to cannibalism. There's just not much way around it. Actually I put some thought into this. Here's my road map. 1. Chinese economy collapsing. Xi gets desperate. 2. Xi makes the crucial mistake of trying to attack Taiwan. This breaks the camel's back. 3. USA puts sanctions on China like the Russian sanctions. These are already drawn up and ready to be signed. 4. China can't sell its worthless products overseas. No money coming in. 5. China can't buy things it needs overseas. Nobody will accept Yuan, especially at that point, and they can't use dollars anymore. 6. This means no energy coming in (oil and coal) and no food/fertilizer coming in. 7. Recent estimates say China might have 2 months worth of durable food saved up (grain, canned goods, etc.) but it won't help. Market forces will cause speculation, aka price gouging. When they know no new food is arriving at the port, food will cost 10x, 20x, 100x very quickly. 8. There will be a run on the supermarkets like the run on toilet paper we saw during covid, only much worse. People will buy or steal whatever they see, and get it home for their families. There it will be guarded. 9. Robbers will attack other families to get the food. It will get brutal. We're not done. 10. After too much time has passed, Xi will admit there's a problem and start food rationing with whatever's left. 11. But Xi is a commie, so he won't ration based on merit or money. He'll ration based on the Chinese social credit system. All the politicians have high social credit scores, so they will all agree this is the wisest way to proceed. 12. People with low credit scores will get no food. 13. The flaws in the system will be exposed instantly. Politicians produce nothing but words and they will get the most food. This skews the curve for everyone. 14. Inevitably, some class at the bottom of the score will be an indispensable part of the system. Imagine if all farmers have a low social credit. 15. If the farmers aren't allowed to have food they will simply stop farming. Or they will farm just enough for their own families and eat that until the police come to get them. Farming is hard work, and the button pushers in the city can't just fill in for them. Food will not be grown. 16. If the government is coming to arrest the farmers (where they will starve to death in prison or simply be shot) they might decide to poison whatever food they haven't delivered. Might as well kill the people who killed them, right? 17. Even if it's not farmers, other classes that aren't so well-connected politically will be at the bottom. Sanitation workers, people at the electrical plant, grocers, police, dock workers, etc. The more useless people (politicians) are at the top of the social credit ladder, it means more critical workers have to be at the bottom. They must. 18. Commies are slow to admit their bad decisions. If it takes a few weeks before Xi admits his mistakes, the people at the bottom of the social credit system will have already starved to death. It's now too late to fix. You can't authorize more food for dead people. It doesn't work. Those critical workers are just plain gone and won't be back. 19. Societal collapse is far too tame of a phrase to describe what will happen if/when hundreds of millions of people are ordered to starve to death. And that's what we're looking at. China needs to import enough calories to feed hundreds of millions of people a year. Their domestic agriculture is insufficient. 20. Mad Max becomes a reality. People fight and kill for precious resources like fuel, food, and water. 21. Somewhere around step 10 the people will see just how screwed they are and resort to cannibalism. Why let perfectly good corpses go to waste? The actual order of events may vary, but you get the idea. It will get so bad that the world will cry out in horror and try to get humanitarian food into China. It won't work, as ships will be mobbed as soon as they arrive in port. We'll simply have to stand back in shock and disbelief as China descends into a hell of their own making.

As long as you're in with Jesus, otherwise there's no way to get to Yahweh.

Americans went through this phase in the 80's and back in the Roaring 20's. People would amass huge wealth and brag about blowing the money. The difference is the prosperity could return some day if they get frugal. There is no future in China. They killed the golden goose.