China’s Ride-Hailing Industry Collapses! 6.4 Million Drivers Jobless Overnight-Only Begging Left! 

😂😂😂😂. Yup!

It's taken them 40 years to reach the peak and it will take them 2 years to roll to the bottom.

i see quite a few countries like these, its like inflating the balloon as fast as possible and its difficult to stop, in the end, balloon pops

@@Onion_Knights With an big boom (extra large China sized sound)

@@VijaygKamat lol that gotta hurt

I am so sick of people starting of a topic with. The thing is. The problem is.

@@tamara_diamonds422 **hands tamara some Midol**

@@allisonangier1631 Talk to me when your English is better.

Thanks for sharing...not always easy when you have to admit that you've been a twit

I understand it's a dump but I still have the Harbin Ice Festival on my bucket list. I'd love to see that one year.

Every time in the past decade we went in, we always bought water from outside of China. In some places the water is so bad I wouldn't even brush my teeth with it.

That was very quick.

You should have book a room at Hilton or any western hotel you know, instead getting some super cheap hotel whose name you can't even pronounce claiming to be 5 star. You're not local. You don't know who's what. Basic common sense as a tourists. Look at the European channels about the scams there. Being so gullible, I'm surprised you didn't get scammed in Thailand. Probably just dumb luck.

China already in downfall 🇨🇳

Its actually surprising as hecko since one of the few things the CCP truly excels at besides committing the most extreme human rights violations is censorship so advanced, they could probably hide the size of your own penis from you until you die.

Well true but unfortunately most of it is grossly exaggerated or false outright.

​​@@kamsunleong6648Really? Such as....please, be more specific!! What exactly was 'grossly exaggerated' and/or false in this video.

WOW SO GOOD!

1+ billion empty rotting homes, but gotta pay up your unreleasable mortgage! What socialism is there? Or is it because they are all unstable tofu props?

We must pray that China's economy gets 10xs worse because that is the only way the Chinese people will finally be forced to REVOLT and get free from the CCP, FREEDOM is NEVER free or easy, America got its freedom by fighting a war against the biggest, and most powerful army in the world ( BRITAIN ) and won !!

Well said mate.Karma came back

@@palanisamymurugan3943 I agree. Like the old saying goes: "What goes around comes around."

It's always been in their uncooperative nature. Their history has so many examples of this.

CCP philosophy is ; guns before butter.

It's also a waste of money nobody Scare of CCP paper tiger.even Philippines are standing up.nobody cares bout a bully who is broke and begging on streets while the one who got bullied is riding a Mercedes Benz😂

They don't care

@@patrickt49they’ll care once the population becomes nonexistent

It’s a tactic as old as time… grow your economy through conquest.

In the west we are close also. Just covered up more

Central planning. The govt knows what's best.

@@nelly365 The "West" is for sure covering it up. However, there's still enough media / whistle-blower to reveal the truth (And sometimes govt auditors). However, in that la-la-land, anything that remotely questions the 'success' of the leaders will get you disappeared or cancelled.

@@protorhinocerator142 the art of good governance is in accommodation for the ineffable nature of man. There must be balance, not supremacy of the State or the individual.

if this is your only source of information about China, of course you will think that...

Highly accurate

No, there was not such a joke in Soviet union. Experience firsthand.

🤣🤣

They also used to say, the factory pretends to pay us and we pretend to work.😅

Lol!! Funny

China birth rate has plummeted for the past 10 years. Gen Z don’t and can’t afford being married and have kids. China has shortage of new babies which will be a serious problem for the near economy future

And good ideas.

@protorhinocerator142 🎯 yea.

If your ref is China on the contrary there is tremendous drop in birthrate. Chinese parents are facing a 'spoilt' generation of kids.

It's not due to greed. It's due to a long-planned and orchestrated control-grab.

Which is greed​@@pat4005

@@pat4005 Wanting control is a form of greed. Greed can be for anything in amounts over and above necessity or comfort. My opinion.

The point being this isn't the obvious outcome of mere government corruption. This is the planned outcome. This is going to happen to EVERY nation under UN/central bank control.

actually it's because the resources are running out and there are too many Chinese that want a middle-class life. So now the collapse comes and it's back to living dirt poor.

They’re growing so fast the entire economy can’t keep up. 😂

growing stress? That was in 2008. There's no stress now. The air is leaving the balloon.

Patriotism of Winnie PorkPooh - 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 -Exports and 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. -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. 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 WOW SO GOOD Organ Leeks #sloprosperity #theskydontlie

So there are many problems......however don't forget that if individuals are struggling to make ends meet, the air is so thick that they can almost eat it

He’s too busy eating that huney of the backs of his subjects.

He’s too busy eating honey.

@@mah7961 Ofcourse he's setting up his wife to be the next Queen!

All the more reason why he can’t be bothered by the peasants.

Emperor Pooh Xi has been busy indulging in pork buns these days...

yeah that guy that kicked out japanese or korean customers i forgot which, im sure people will want to visit after that.

You're right 👍

They don't care about anyone else, but they expect sympathy?

Just change your stupid job if it doesn't pay. I don't get it.

The funny part is the CCP is publishing the data. They could easily stop getting out ride hailing licenses and restrict the supply. Then, it would balance out the demand and they could make a living wage. CCP doesn’t care though.

Massive social unrest will happen, people will start burning houses and cars and loot shops wherever possible.

History repeats.

They cannot afford anymore. All foreign business are leaving and not coming back anymore. No businesses means no jobs. No jobs means income. No income means you cannot afford. If you cannot afford means you will get hungry.

🤣Let them eat cake.

There is something not oversaturated in there. Babies (decrease in birthrate dramatically cause younger people sees childern as money sink and in this economy who want that?) Normal jobs (well the reason why everyone goes into ride hailing/online driver)

They are the cheap in China. I'm currently in Malaysia and paid $1 for a 1.5km ride the other day. I always tip the drivers, though. Gas and energy are much cheaper over here.

China is no US, they don't artificially inflate gas price like here

The cars are usually BYD, electric. Depending on how they charge, the fuel cost is much lower than that.

yeah ridesharing is crazy cheap in China, I used to take one to work every day. I think they are subsidised by the government though (as the government wants to keep number of personal cars to a minimum)

And here we are where an Uber can cost $50 to go 12 miles.

This has nothing to do with the companies, the more drivers there are, the less trips each individual driver can do. They are paid by the trips

Ask Jesus for help.

There's always people struggling more than Americans. We are very fortunate and we should be grateful that we're not like North Korea.

Live below your means. Learn to cook. Get out of debt as fast as you can. Sell off what isn’t necessary and downsize. Even moving to a better area can make a huge difference.

@ markm0000 exactly. 💯

@ sosomelodies659 These are the unintended consequences of the ccp’s garbage policies, eventually Xi and his lackies will have to face reality and turn the ship away from the iceberg. many Chinese people are fleeing to other countries because of this mess.

Human stupidity is boundless.

Not true. Did not see a picture of him walking an average of 20,000 steps per day beside taking its metro rail from one end to the other in one of the 1st tier cities in China.

it will taste their own stupidity..

Luckily they are too stpid to know that

Pity those who sell their land and rural properties to buy urban houses, finding themselves out of a job and having a huge debt.

I saw on another channel that farmers in China are having problems as well as jobless returning to villages to farm only to deal with too much supply that can’t be sold.

there is = there’s 😊

I guess you didn’t see the last video dude. Farmers are not much better off either.

"Many Uber drivers have reported a significant decline in pay rates and earnings over the past few years, with some claiming to make only $10 or less per hour after expenses."

They travel to look for a job.

Because Chinese cities are quite densely populated. Seeing traffic on the streets is more or less meaningless for determining anything beyond that lockdowns are over.

The crisis is affecting about half the population, this means there are still millions out there hustling trying to make it, just barely keeping the system running.

Your bubble sounds nice. In Washington state, you need to make $26.62 an hour to afford the 13-1600 a month 600ish sq ft 1 bd rm apt and have renters insurance on top of that. So essentially, you get to make 4.2k a month just to live paycheck to paycheck, and there are very few jobs that even come close to 20 an hour. Enjoy it while it lasts. I forgot to add that the last time I went to the store it was 46$ for a loaf of bread, lunch meat, a pack of cheese, jar of mayo and a bottle of mustard.

@@Eldritchpi Usually as soon as you get far enough from the large cities things are not as bag. I find it funny (or sad) when people point out you can not afford to live in the cities on minimum wage. Nobody makes minimum wage and if you can not make good money in the city you should not be living in the city. The best answer for so many people's problems is... MOVE. I lived in the ghetto for 10 years. I was good with money and saved up and MOVED. I was not going to raise my kids there.

Um $20 an hour your Gross pay for 40 hours is $800 BEFORE taxes. after taxes it's like $600 a week you bring home.

@mythosdreams5814 you should try a class in reading comprehension. 26.62 is 4.2k monthly, which is the MINIMUM you need to make as an individual to live alone. I then stated that the majority of jobs don't even pay 20$ an hour. So let me dumb this down further for both of you. You can not make enough to live alone on the West Coast, which is why everyone either has roommates or is in a relationship where both people have to work full time to afford the bare minimum. It is even worse in the city where everything is about 30% higher, I live at the city limits in a rural area.

@@Eldritchpi Then MOVE! It is not like this in the whole country. You are taking a worst case scenario and acting like this is the normal. Stay away from the big cities and you should be fine. Most of the statistics for the average cost of rentals is MUCH higher because this include high end apartments and house rentals. Do a search for a 2 bedroom apartment outside the city and tell me what that is. In Michigan the average for the state is $998. The average entry level job in Michigan is $15.35 an hour. That is $2,456 a month. 2 incomes come to $4,912. This means a couple flipping burgers sharing a 2 bedroom apartment based on averages for Michigan puts the rent at just over 20%. This is more than survivable. I think today's young adults do not understand the concept of entry level homes. They also do not understand what work or being responsible with your money. If you can not land a high paying job in an area then you should not be living in that area... MOVE. If the cost of living is too high then the employers will struggle to find workers and they will need to pay more.

i think it's like uber for minivan/trucks. we got something similar here. i used to order it for delivering furniture.

Jensen found a way around the chip ban and he's not only shipping to China, he's shipping to Russia and multiple middle eastern nations. Be on the watch for headlines announcing NVDA to be investigated by the SEC. Most likely will be announced in the fall, though some news outlets have already released information. Jensen is Chinese. They outsource production to China. It's a Chinese company operating in the US. For the record, I love the Chinese people and I love their culture. I pray with urgency for the CCP and for some kind of government change for the citizens of China to be able to thrive. I would love to see China shine in my lifetime, not as a threat to the West, but as a partner.

It's Western propaganda, just as bad as the Chinese one.

It changes every day. Right now it's $41.44. Rent for a one bedroom apartment in the capital is about 6,000 yaun or currently $870 per month. Fuel is about $4.74 per gallon.

I think it’s 40 dollars give or take. 1 yuan is like .13 to .14 cents American.

in terms of purchase power, 30 yuan can buy you a big mac meal in China, and their average monthly rent for 1 bed is 2000-3000 yuan. so you do the math. So it's about $150 in purchase power. It's actually decent money for them, they make more than Uber driver here