Well that can happen if u as a country don't come clean after a virus spreads across the world originating in one of your cities, then spreading lies about it's origen and then threaten to invade another country point is: Other countries will notice and look for a safer business elsewhere and I am not going into copying and stealing IP stuff...
CCP has bit off the hand that fed the monster for decades. Now the Chinese people can experience the pain caused by their leaders. This is the only way the Chinese could understand what’s happening when economic downturns hit their wallets.
@@springflower00 It has nothing to do with America except maybe a few sanctions we put on china. Your Government is the Main problem!! They want to be the Top economy in the World but that does not come overnight. Takes quite a long time to get to that level, and your products you sell are Low quality!! your Government overspends on many projects, especially real estate, you have many "ghost" cities that are empty. Very high cost to build , your Government is deep in debt, but will not tell you that. $52 Trillion in debt.
Sounds like people are beginning to understand whats important. Focus on improving your homes, yourself and family, and your community before spending time and effort buying useless garbage.
Even online sales are tanking in the US. We have whole youtube channels on dead malls in the US and streets of empty stores in NYC but that is because the cost of rent and real estate being out of control across the US.
@@evilqueen13 US is doing great and avoided recession again, sales are up and mall traffic is higher than it’s been in years. Not sure what your basing that on.
@e: USA is in a recession and consumer spending is down, but you bots and your whataboutism should be more concerned about YOUR OWN country‘s economy, especially since so much of it depends on the West, whom you and your political kind don’t understand you rely on.
@@evilqueen13 there are dead malls but usually because a better mall or online shopping replaced it. It’s natural. Overall sales are up and the recession never happened. Difference between IS and China is all the numbers in the IS are gathered and reported transparently while in stark contrast the CCP even admits they fake their “man made” numbers so it’s probably much much worse in China than anyone realizes
China also has no social net, just ask anyone who‘s had their bank account frozen. Naturally, this means more money in the mattress for security, and less for leisure goods.
😔 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
@J: CCP is sending an entire generation of youths into the rural countryside and India is overtaking China.Check in ten years what China‘s economy is like.
Li Keqiang was right about small businesses. Too bad he was shoved out. Skilled labor also has to be emphasized. I don't think the current CCP wants skilled competent entrepreneurs.
With their wages being 1/4 or less what I make (not much), and their hourly wages often being well under the US federal minimum, it's no wonder their people are broke. 24 yuan is currently 3.85$ US, which is abysmal. Their wages have also not gone up, but prices and costs have (especially in property where the banks lend like it's the wild west), so people have cut back massively on everything, including in many cases their debt repayment. As it stands, this appears to be a full collapse of the (now) world's second most populous country.
How much were you and the 30 other bots paid to make a basic mistake in English grammer? Guess closing down those English tutorial businesses in China really paid off!
This is fast becoming the most significant economic collapse of any one country that the world has ever seen. No easy way out either with population beginning to decline.
He’s referring to projected future population expectancy. Some of it was due to Chinese policy regarding having only one male child, needing special permission to have more than one child, especially a female. There is an abundance of adults & older people in the country & a shortage of younger people. That is a recipe for disaster for any country, never mind all the additional problems on top of that.
What is very ironic, the CCP is telling the provinces and the municipalities to tighten their belts and to live frugally. But the CCP it and especially the PLA have open the money gate !
If the average workers are paid low wages with long hours and no overtime pay, how can local consumption sustain local economies?The wage gap between the rich and the poor is worse in China than in developed countries where it is thought to be unfair.It seems there are greedy owners or the well connected receiving most of the money where it is invested or saved in non-performing benefits at the nation`s detriment.
Wealthy are also taking their wealth and families out for decades. When I was at Stanford thirty years ago, Asians were already buying houses there for their children, essentially sending their future generations to Western countries.
and whatever money the corruption has earned them are immediately funneled out to their princelings in Beverley Hills to buy mansions, exotic cars, yachts etc.
The CCP fears their own people more than any other country so it follows that the headcount in various police forces is a huge expense, maybe more than the military.
The Chinese budget for "maintaining domestic stability" is higher than their military budget, which says a lot given the fact that the CCP army is expanding like there is no tomorrow. If they give up the idea of waging wars against the world, they can save quite a bit. And if they open up and become a freer society, almost all the money for "maintaining domestic stability" can be redirected to better areas.
Money makes the World go round. China is racing to the bottom with tiny profit margins. Companies are pulling out of China. China needs to sort out the property market, but that takes money, one way to raise money is get rid of its military and stop being a bully.
"The Federal Reserve" is privately owned = when they stop printing the money you get these "depressions" whenever they choose. Also they usually alert the higher up to pull their money out of stocks etc before they do it. =Sort of a scam continually pulling the rug from under people. But it keeps the population in check and continually working
2 goals can't be achieved simultaneously.If they pressed for 1 child policy then the government should bear the cost of aging population and market and they didn't allowed the society to grow automatically that has a cumulative cost of deserted streets and changing human nature
If you watch these channels you know it's not just fear of spending. Chinese banks refuse to let you withdrawal your money and out right steal it. You can't shop when you're afraid the bank will steal your money. The ccp protects the theft and says the banks aren't responsible for a employee stealing millions from accounts. A Chinese lawyer read the technical laws and bank contracts and they are indeed legally obliged to pay back any stolen funds but the corrupt ccp government negates its own laws and ensures the banks aren't held responsible. Basically all the money was stolen already in China. You can have 500,000 usd in your bank account and the bank only allows you to withdraw $60 usd a day. For large sums of your own money you have to make appointments which can take months and wait up to 8 hours arguing with the bank manager just to get your own money to buy a car or pay off your mortgage. The banks already stole all the deposits so going through this process makes it impossible to spend money on unnecessary things.
Yes In India not only shopping malls but footpath shacks are bustling with people. May be Indian model slow but steady is better. The floods are only temporary and is good for agriculture.
@@nikedoesthingsYes, at least in the past week, I have received 16 express packages. The "post station" downstairs of my apartment is staffed by three employees who continuously receive and receive express delivery every day. From 9:00 am to 20:00 pm
China manufactured goods very cheap with thin margin and paid employees too less, now that export has dipped their own citizens given that their salaries low cant afford to buy those goods. hence the problem
It is very difficult to make money in a down market (besides shorting) when everyone is pulling back their money. -Must "accentuate the positive" and focus and build on that. A great time to build up your personal value and/or look for deals that abound.
US malls are in trouble too. But that was before the pandemic. Empty malls are a cultural phenomenon, the pandemic only accelerated the change. Empty malls cannot be blamed on the pandemic.
Those noodles are sold for around £5 per pack up in the mountain, so I'm sure he would do that lol , because he makes bank. I remember when I visited Leshan when living in Chengdu, Sichuan for some years
It’s the same story in the USA. Lots of stores had already closed . No jobs hence there are lots of homeless and jobless. Money is tight and inflation is high. Prices keep rising and fixed incomes are no longer enough.
The world is going from a period of overindulgence to an economic recession. Depression is to be expected, but the goal of those embracing a superiority complex always was to crush the human spirit.
China tried to become a developed economy in the span of a single generation. The obvious problem with that is that virtually all of this new middle class is heavily indebted in real estate. There is no generational wealth to swoop in and salvage anyone from default. In fact, the little generational wealth that existed was leveraged just for down payments on ridiculously priced apartments. Think 50-100x price to income ratios. It would be like the middle class in USA getting 3-5 Million dollar mortgages.
Unfortunately the current trend is still downwards. There has to be some form of intervention to reverse this process. This is beginning to look like the great crash in America. Very sad for the Chinese citizens.
What did they think would happen they banned many Australian products and put ridiculous tariffs on some goods and they wonder why orders have gone down we are learning to trade elsewhere and not be so dependent on China
1 child policy turned a reasonable society into a European society which is expensive and non compatible. Because Europe managed to draw millions of tourists so their economy never collapsed unlike CCP
The first mall in the video is the 'START' mall in Minhang. It has looked like that since 2018. It was simply beaten by the other better performing malls nearby. Why don't you film in the VANKE mall, just 1km away? It's always packed with people. You also have MixC, another busy mall only 1km the other way. Why don't you film those malls to give the situation some balance ?
Looking at the residences in the last few minutes of this video it struck me that, there are more bars on the buildings than I've seen on prisons! Does that give people security or just a cage they have a key to get in and out of on their own? The buildings look old, worn out and terribly depressing to live in. Is that the normal home for normal everyday Chinese? I'd be suicidal under living conditions like that and I'm poor in the US, on SS and a pension. My life is bliss compared to what I see in China. art.
They like to hang laundry out to dry on those cage bar things. We went to Taiwan and did an Air bnb in a nice modern apartment complex and they had the same thing there. They only had a washer no dryer so we washed our clothes and hung them out on the bars overnight to dry. Same thing in Hong Kong and Macao in poor to middle class apartment complexes, we saw people’s laundry hanging there as well. Since apartments are small they might do that to save space and not buy a drier. My friend said they prefer to sun dry the clothes as well to save money on utilities. The rich buildings don’t have that though. Even though the building looks old it doesn’t mean people are more depressed or lead terrible lives, maybe they enjoy the simpler things in life. When I went just a few years ago I saw people on the sidewalks chatting with each other, play mahjong and eat dinner together, we see kids playing outside in those neighborhoods. I saw this with my own eyes. They didn’t look like they were miserable or on drugs or hopeless, they moved around fast like with a purpose or they sat around reading newspapers or playing checkers, mostly old people. They like to shop and hangout at malls too. People love to eat out, there are tons of restaurants and convenience stores too.
@@TheSmokey1523 I spent months in Taiwan. I worked in Hsinchu below Taipei and Tainan down south. I stayed in many hotels. You are right that the bars on windows are dual purpose, safety and to hang wet laundry to dry. In mainland China there is a new beautifying order that prohibits hanging laundry outside to dry so now the bars are just bars. It kinda turns the homes into prisons especially during covid lock downs! art
national per capita income was 20590 yuan, avg monthly income of 1715 yuan, how come there are so many rich CCP members and billionaires in communist China.. Doesn't make sense.
China will survive. It's no different when US corporations move manufacturing to China. Many local communities destroyed when manufacturing left the USA. I don't know if the CCP can survive with zero help to their citizen.
@@lance8080 This video does not reflect reality where I'm at. At a minimum, the fact that the creator tells falsehoods about Shanghai makes me doubt everything else he says even more.
Maybe people would be able to shop if the banks didn’t take their money everything’s a dominoes in fact whatever you do affects the people in the country as a whole
I don't know whom to believe. There are some Indian youtubers going around in Chinese cities, shooting streets full of people. But you are showing deserted malls and streets. It's really difficult to understand what's going on...😢
4:00, it should be Huang Niu, not Huang Yi. It means scalper. Because good doctor is not easy to book, scalpers have their ways of booking doctor and then somehow sale that appointment to an actual patient.
