Massive Store Closures & Unemployment in Shanghai and Shenzhen. The Great Depression Strikes China 

There is no one in the uk starving to death because they can't get hold of food. What is this nonsense

if 10, 000, 000 people in the UK had no food. the government would be swinging from the lampposts and parliament would be burning. in fact the politicians would in real trouble if just 100 people had no food.

Age discrimination in China is worse than reported. If you are looking for a job in the tech sector in China you are considered getting old in your mid 30s. Securing for a job at 40, or even in your late 30s, is extremely difficult. At 45 you have close to zero chance.

You know how you are supposed to learn from history, not to repeat the mistakes of the past? - China must have skipped that memo.

It is about the people running the government. They don't care about the economy and the people. They concentrating in their military.

Anyone who has read Scott Rozelle’s book called “Invisible China” is not surprised by what’s happening in China now. More turmoil to come.

Thank you for your hard work bringing us content everyday 😊

People, club together, help each other. You were sold the dream and are living a nightmare. Good luck.

Imagine working hard in school, getting into university, and this is what awaits you afterwards.

It’s always sad to see people suffering due to an evil government.

Homeless woman said: Factories require a college degree. Jobs that don't require a degree pay very low wages. 😮

25% of adults in the U.S. are going hungry? Bruh, I'm in the south. NO ONE looks like they're starving here! 😄

It's very sad to see people desperate to find work during this difficult time.

May China turn to God. To think not of materialism and ideology that divides humanity. So that they don’t worry about their decaying economy.

4:02 this lady is very brave and bold for speaking about her personal experiences, her life and this situation whilst living in the People'S R. of China.🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳 😔 China's abandonment of strict COVID-zero policies has led to a grim economic downturn with a large number of shops closing down and increasing homelessness. 00:00 Chinese government suddenly abandoned its stringent covid zero policies 00:00 Emergence of vast numbers of homeless unemployed 00:34 Deserted streets and closed shops in Shangxiajiu, Guangzhou 01:13 Depression in Shenzhen and Shanghai with lack of people and business activity 01:51 China's state media propagating reports about struggling living conditions in Western countries 02:44 Massive Store Closures and Unemployment in Shanghai and Shenzhen: The Great Depression Hits China as the Economy Crumbles and Middle-aged Workers Bear the Brunt 🌍 China's economy and food chain are in serious trouble, with a growing number of adults going hungry and job opportunities diminishing. 03:15 One-seventh of the UK population can't get enough to eat. 03:15 China's economy and food chain are in trouble, leading to an impending famine. 03:31 Workers in Beijing face difficulties finding jobs and are paid low wages. 06:57 A manager earning a high salary struggled to find work after losing his job at 45. 09:27 Chain stores like KFC, Pizza Hut, IKEA, and Starbucks are not hiring middle-aged workers in China. 10:03 👴 Middle-aged unemployment in China is a significant issue, with a growing number of unemployed individuals and a greater impact on society than youth unemployment. 10:39 The middle-aged unemployed in China is a growing problem, comparable to youth unemployment. 10:39 Middle-aged unemployment has a significant impact on society and the country. 10:56 A large number of enterprises were deregistered and bankrupt in China. 11:14 The national urban surveyed unemployment rate in China is 5.2%, with a high unemployment rate for the 16-24 year-old labor force. 11:35 China's current unemployment statistics are inaccurate due to low official employment standards, data bias, and difficulties capturing the true employment situation of flexibly employed individuals. 12:16 📉 China's economy is facing challenges as unemployment rates rise and key economic indicators decline. 13:49 Unemployment rates in China have reached 6.2% to 7.5% of the total labour force. 13:49 Structural imbalances in the Chinese economy, high debt-driven infrastructure construction, and decline in export trade volumes contribute to the economic challenges. 14:11 In the first quarter of 2023, China's GDP increased by 4.5% year-on-year, but skepticism remains due to government data reliability concerns. 14:44 Significant declines were observed in major economic indicators in the second quarter, including a decrease in exports and retail sales growth below expectations. 15:25 Real estate investment and private fixed asset investment have declined, indicating weakening corporate confidence. 16:09 📉 China's consumer spending is not strong enough to drive GDP growth, and the government's attempts to stimulate the economy have been ineffective. 17:09 Consumer spending in China is not strong enough to push GDP growth to 5% or 6%. 17:09 China's chronic issue is its high household leverage ratio, which is the root cause of the demand problem. 18:03 Calls for saving the real estate market to revive domestic demand. 18:20 Beijing authorities have acknowledged the economic challenges and attempted to stimulate the economy through interest rate cuts and printing currency. 19:14 The government lacks funds, businesses are strapped for cash, and consumers have savings but are hesitant to spend. 20:02 😔 China's economy is facing challenges and it is difficult to be positive at the moment. 20:19 Stimulating consumption is unfeasible due to the bleak overall environment. 20:19 Wall Street banks have lowered their forecasts for China's economic growth in 2023. 20:37 Q1 2023 data shows impressive growth of 4.5%, surpassing expectations. 21:17 Achieving a GDP growth target of 5% seems achievable considering previous stagnation. 21:37 Many realize that going back to the way things were is not possible. 21:55

CCP quarantine his economy not covid.

After graduating college, it took me 4+ months to find a job. A few weeks or months isn't that long. (But, it was easy to get temp work at 3x the minimum wage until I found a position that was a decent fit.)

To all the young Chinese people. For the last 30 years our factories closed and left us Westerns in Europe, Northamerica or Australia hopeless, stranded and without opportunities. We had to move and travel to find work. Your problem is you are not allowed to move.

In the next decade or so, China will have to go back to the agriculture as what they had 40 years ago!

12hrs for 160yuan is $22.33/day, or $1.86 an hour to work in a factory. Median age for an individual in China is 37, so 45 being "too old" is quite the stretch (37 is very much in geriatric pregnancy zone as well, so the demographic problem is really too far gone to resolve).

KEEP IN MIND, YOUR GOVERNMENT DID THIS TO YOU. SAME IN THE WEST!

Thank you for not dubbing over the interviews. I'm able to share this with my Chinese parents much more easily now

This is heartbreaking. Lord move the Chinese government to address the needs of their people.

In the meantime...the U.S. has a worker shortage, and 40+ year olds are highly sought for their work ethic

I felt so bad for the girl at 4:24 none of this is her fault.

3:15 PRC spokesperson: "One in seven people in the UK can't get enough to eat". For the latest year, just under 200 deaths in the UK were recorded as "malnutrition" - 0.03% of the total deaths. That will include the elderly and ill who "no longer think it's worth living" as well as those for other reasons.

I hope Chinese people know now what communes government truly is.

Lord Jesus please help the Chinese people to find work that can provide a living wage during these tough times. Thank you Jesus for hearing my prayer.

Doesn't sound like the workers paradise to me

I was out in sanlitun and nanlugaoxiang in Beijing this past weekend. Both were jam packed and with virtually zero closures.

Times are hard everywhere. Competition in China is just more challenging. The lady not taking the 3,000+ yuan is much more better off than the one willing to work for 1,000. Beggars can't be choosers. It's scary.

All the numbers are a bit confusing but I think they're talking about living on less than $150 a week. Their cities have the most expensive apartments on the planet! And I don't think they can grow their toxic rice and get someone to live on it for less than $2 a day. In the USA a cheap apartment would be $400 a month(you'd need to carry a gun) and $7 day for food. You could barely survive here on $150 week. Working to death with no future 😢. Play dead, lie flat, figure out how to be nice with the gangster CCP watching you.

Pandemic absolutely destroyed small business. Something that was warned about and why there were many advocates against the idea of state shut downs. The damage would be catastrophic, and the Stricker the rules, and longer you shut it all done the worst it was going to be.

Things are tougher than they were on the west, but from what I see and read, they are even tougher in China. My heart truly goes out to those who have both a repressive government AND a rapidly crashing economy.

the unemployment rates not budging lower is just like the radiation meters at chernobyl not being able to above a certain point.... if you can't measure it, it doesn't exists right?

Thank you very much for the detailed report.

You have all the time in the world now to unite and change your government for the people, of the people, by the people.

3000 Yuan would be a quite okey salary for someone living in the Philippines. But then a one room rent is 700 yuan.

This is window to our own future! Prepare accordingly.

Thank you for your financial comparative analysis & economic report.

China had developed too fast by CCP gave false impression of continual prosperity. A economy slow down induced such plight.

Hello , thanks for this good sharing see you later my friend 👌 😊

According to a 2018 joint UNICEF and World Health Organization report, 39 per cent of the national population, or 497 million Chinese, have no access to safe toilets. All these homeless people living in the streets with not a toilet in sight. Luck we don’t have Smell-O-Vision it must be ripe 😂

In Singapore even a 78 years old man who has serious dementia is able to get a job as a security officer earning Singapore $2800 or 15,000 yuan !!!

7:34 look at the T-shirt 😂😂

Hope China will never recover from this predicament 😊

Excellent video well researched and narrated thank you

Heartbreaking... But it would explain the insane flood of Chinese fake online profiles trying to sell stuff or get people to use services or visit websites.

To be told by the leaders to embrace hardship to make China better while eating imported expensive foods and wines, would really give rise for unrest.

It's bad enough almost every college grad really finds work doing manual labor like factory jobs,. Now they can't even find THOSE jobs.

I feel sadness for the hard times the chinese people are suffering through. Americans have had their fair share as well. Now the salaries in China are the equivalent of American salaries so they've priced themselves out of the market. Hopefully they will overthrow the dictatorship and disband the ccp. All I can say is choose your leader better. That's not saying much when you look at the dictator in charge of America.

The UK standard of "not enough" to eat is completely different tio China's

The reality is the average Chinese citizen is going to suffer. Really suffer. The only solution would be "remove" Xi, allow Taiwan to be an independent country, stop the genocide of the Uyghurs. But, there is zero negative infinity chance of this happening. The CCP has chosen a path and now it's time to face the music on their own.

Most of the problem is government but some of these people just sound like they're spoiled. Job hunting for 7 days and they're already wiped out? I had to job hunt in the US for almost 2 months before I found one I wanted. In the mean time I worked night shifts for minimum wage to keep what little income flowing while I looked for better.

Shanghai and Shenzen are huge cities. Would like to know if nobody out and about, much less shopping, is just in the major shopping districts or all over. How about videos from out lying areas, ring road, Pudong, etc?

Im uk and i dont know anyone even when trying to find people that go without food; Even the homeless get fed jn this country so wtf with the lies

The CCP will label accurate information like this about the Chinese labor force as “misinformation created by foreign forces to destabilize China.” 🇨🇳 (They use that response for everything!!) 😂

This is really sad that happening bad things to chinese people i really felt bad for them 😢

Meanwhile in main town America the people are in despair 😔 and stores also collapsing. Any not collapsing are ransacked by the mobs.

If you're poor and hungry in Grand Rapids, Michigan - a city of ~ 500,000 the local AlDI, WalMart and Meijer big box stores are all hiring.... The starting pay everywhere is $16.50 per hour at any of them - standard retail store pay everywhere here in Michigan. There are thousands of jobs like this all over Michigan. The homeless are not without help and assistance even if they ARE unemployed, which is rare... and nobody is starving, either.... that is just the standard lie of the Chinese and Russian propagandists. 😄

Thank you

This has all the signs of a banking crisis. So many bad loans that remain on the bank books. This will take many years to fix if banks refuse to write down the loan values. It might be politically impossible to allow banks to admit this, and the economy will suffer for a long time as a result.

youth unemployment in China is ~25%-40% (depending on area ofc), and yet people over 40 are discriminated against ? - Chinese manufacturing is dying, its demographics are very bad (as is Japan's and other big economies) and yet CCP is spending many billions in an effort to become the biggest Navy/Military in the world, the US is 33 Trillion in debt and unable to repay it's debt, many US cities (democrat run) are lawless and in sever decline, Germany (Euro Zone workhorse) has slowed substantially, Russia is running in deficit, war in Europe, the world is in deep trouble atm.

Age discrimination happened in the west too. A colleague, a senior engineer with 25 years of experience, was retrenched in y2k. It took him 2 years to get another job as a jack-of-all-trades in a factory, then rose to engineering manager eventually. So what's happening in China is nothing new in the west. Some Chinese have had it too good for too long. This is a wake-up call.

Think store closures is simply because they cant compete with online stores and under pandemic people got used to shop online. Same happened in Europe.

Every day I give thanks to the universe that I was not born in China.

Finally this lady telling it the way it is china is in a depression ....its ok join to the rest of us.

In 2022 460,000 companies went bankrupt and others deregistered.

You can’t lie your way to a healthy economy.

It's like groundhog's day with Chinese news lately

I can explain you the problem. You see. The biggest problem is that you tied your economy to that of the US. The US prints money from a printer, and you take that money and give them your products. But your products costed land, capital and labor. For the US printing US dollars costs them nothing. So the US by abusing their position in the global economy as the currency of reserve, forces you to hold US treasuries and US company stocks. As a result, you invest in your local companies to meet the demand of the US. But that demand is not real. Is never sustainable, and you only get a lot of paper. A currency that devaluates and treasuries that pay less than inflation. But for you is not only incredible costly to meet the demand (you need factories, labor, infrastructure, investment, etc). But now you have an economic system built to meet the artificial demand of the US. So if the US enters a crisis, you automatically follow. What you should do is BAN the us dollar. And focus on entering bilateral relationships between countries that can trade with you for stuff you need. Brazil, argentina, etc. And let your population consume their own creation. Stop giving everything to americans for free. It's ridiculous. Let them produce their own stuff.

The blame rests with the CCCP, they should do what Bangladesh did, make small loans to small shops to start business

The US CANADA and EU decoupling is the big reason behind all this. China is,mainly dependent on exports

I’ve been watching these videos for the last month, the thing I’m getting is the why, why are they pulling out? Was this a response to the COVID restrictions? Did the cost of labor go up?

Love your videos

TY

This doesn’t look like it’s going to be an easy fix. I think this will eventually expose all the corrupt practices and particularly the reports which underpinned the previous good economic progress.

instead of thinking that they will die due to hunger or committing suicide to end their miseries, they should collectively end the source of all misfortunes that they are suffering now... it is worth to lose one's life with dignity....

The situation of a common Chinese man is very unfortunate but their leaders & their wrong policies are responsible for it.

Lowering the deposit rates may stimulate investment but it will raise the risk of bank default which is already a problem in the US in this environment, so that might not be such a great idea.

The earth was like this before WW2. 1939 Wall street fell. Germany was in really high inflation and migrants were on the move. Even weather was different. It's coming and sooner than we can think about it. 2000 years ago this was for told. This next one is the big one.

If China got time to spend money on BRI and military, then these citizens, then let the work flow into other poor nations

This is good reporting. Thank you.

I don’t know if I’m the only one increasingly worried that XI will invad Taiwan way before any one expects to creat external distraction from the economic situation ,using the fact that NATO busy with Ukraine. God help us

I just came back from Shanghai to San Francisco. Granted, a lot of stores are closed. One of the reasons is due to the online shopping. Yes, the unemployment rate is high now. Guess why? It is so silly to believe it is due to the bad policy of the government. It is the economic cycle, rather. Btw, I think we are not doing any better here. Just look at San Francisco downtown. It is 10 times worse! At least in Shanghai people are not like zombies, or the streets smelled badly. I honestly think the leaders in Shanghai are way better than those in California.

The Chinese youth should not worry. Their commy leaders really care and are working overtime to make jobs for them. Workers' paradise you know.

1 seventh of the U.K. are not going hungry, there are some problems but this is shit.

I prefer the original audio with subtitles instead of the dubbing.

Wait until it get worse. China have deflation, which simple means that nobody is buying anything and nobody needs workers. It's really is weird, what is the Chinese government doing. If we look at other countries like The Weimarer Republic in the early 20th century we had massive unemployment but we also had massive inflation. Bread was worth like 1,000,000 Reichs Mark. In China there is massive unemployment but they have deflation. Shouldn't that mean that China have massive overproduction? Because the exports tank maybe. The West is turning away from China, orders are not made, China exports drop to a historic low. Normally the government would have taken all the moneys in good times and invest in the domestic market, like Japan and South Korea did. China's domestic market should be as huge as the of the USA. But it's nonexistent as shown by the current deflation. Chinese are not buying what they produce. Add to the problems the massive dept and all the black holes in those ghost cities and failed real estate projects.

consumer spending can be relied upon... in countries where consumers have money to spend.

Why are business establishments closing?

Then why is the RMB remain so high?

China still has plenty of work. They can still afford food. Let the work go to other poor nations who struggle to survive.

Not just China. Many youths have trouble finding employment around the whole world

If the Chinese are not producing enough children who will replace the young people once they become older especially since there is so much age discrimination? At this rate all the employees will be old.

What a GOOD NEWS.

Be careful with these VLOGS. France unemployment = 7.6, Germany 5, Italy 7.6, China 5.6. Its unemployment rate is similar to other developed nations. The cafe on the vlog which used to be buzzing till 11.00 is now only buzzing till 10.00. The girl who was utterly beautiful with shiny hair and perfect skin had been on a job search for 7 days , not months or years. I have been studying Chinese economics for 3 years now. The Chinese economy is certainly at a turning point , but collapsing, no! South Africa -unemployment rate 32. Now that IS a worry.

US also same lots of homeless and even worst alots of drugs user..!!!!

As the population ages companies will have to employ older people.

People are so desperate to find a job, but then once they find a job they work there for 3 months.. and never even received one paycheck!!!!???