Shanghai and Beijing’s Michelin Eateries Shut Down Overnight 

80% of resturants fail in the first 2 years

What is the old joke? How do you become a millionaire restaurateur? Start with two million!

Dude. You went ahead with opening a business when you shouldn't. Dude.

No surprise he didn't know the economic situation with the CCP only allowing positives to be talked about...

Micro meals for macro prices only in a highly optimistic economy.

No one in china has money for luxury food restaurants

Seriously, that first restaurant owner. Is he just incapable of doing some research before spending all that money? That is just pure incompetence. The restaurant business is one of the most competitive in the world, and most restaurants shut down. He didn't do any research at all? Let alone in an economic downturn. What a complete waste of money. Must have very rich parents.

The thing is. These restaurants really did serve Michelin tires to eat.

The largest wealth transfer in human history... 😓

None of those meals looked appetising, just pretentious.

How do you make a million in the restaurant business? Start with 10 million.

The food is small and the price is big that always leads to failure

Some people have to learn the hard way.

The site talks like its surprise that “even Michelin star” restaurants are closing… in any downturn economy, the high-end restaurants are the first to suffer losses and close. Everyone is trying to save money and you can see the downfall as the mid range restaurants shutdown

Before opening a high end restaurant, try selling something affordable, from a food stall!

Where did he see others making a fortune? Based on this channel, pretty much every restaurant opening in the past 2 years seems to fail within a few months.

Try to open a 5 star restaurant with not enough fund to stay open for more than 3 months and have no reputation or establish name is a disaster in the making. Most 5 star own the property and have established their brand first. And heck no idea if they are in a good location and if they don't have 3 other 5 star next door.

It's like opening a Video tape rental shop TODAY, you missed the opportunity to make money by at least a decade. Opening a restaurant is ALWAYS risky business in ANY country and today is not the right time (in MANY countries btw) to open a high profile expensive restaurant. Btw the restaurants that ARE still profitable aim at younger people with simpler/cheaper food and have low costs by hiring students.

We watch enough of these videos an there is to much adulterated food in this country. You don't know what you are eating or drinking.

Because they want MORE food for less money, not LESS food for MORE money

5:47 idk bout you guys, but if i served that huge plate but with only small amount food in the center i'd feel scammed lol

If anyone want to enter the market to do business. First they must survey n do reserch in the business they are interested in. Blindly charging in is like jumping into a river W/O knowing the undercurrent.👈😁😁

Gift from CCP

McDonald's still open 😂 the new Chinese fine dinning 🍽 = the Big Mac 🍔 😂

How do you become a Michelin starred eatery in less than a year?

this is not really a chinese problem. In america most new restaurants buisness dont survive their first year. And most of everyone take a lost.

Fancy fine dining or mom and pop, they all use that under ground tallow the country is infamous for

And they’ve been using cooking oil shipped in crude oil truck all these years.

IS that the bank's money or their own money? That's alot of money to throw into a business....

So trendy! Give me barbecue, and keep the high-dollar celebrity food.

get a cashback at ccp

It's so hard to make a profit opening a new restaurant. In the first year expect losses, so you'll need money to pay for workers, lease of property and food.

High end restaurants closing down affect exactly what percentage of diners?

The original SNL did a great sketch, with John Belushi, about a store in an old shopping mall that was failing. The store sold only adhesive tape, all kinds. No recording tape (remember that stuff). The owner refused to believe he hadn't made any money in weeks, and would soon loose his store. It's funny, sad, and true.

Are these people that are starting these businesses not looking around and seeing everyone else struggle?

All of those portion sizes are very small. For such a high price it's no wonder Chinese people decide to spend their money elsewhere.

Why the fck you open a restaurant if you don't know anything about the restaurant business? They just wanted easy money, they went bankrupt in a few months, a story old as time.

noone work in sweat factory in china can afford this restaurant

Trying to transfer a failing business in a shitty economy is wild.

are there more restaurants than people in china?

98% of new restaurants fail within two years of opening, and of that 50% fail within 6-12 months of opening.

" its raw... it's farting raw ! " if Gordon Ramsay is in China.

@7:04 Didn't he star is Despicable Me??? 🤔

A reminder to all foodie Old parents often say, "Willful waste brings woeful wants." Xi Jinping urges everyone to stop wasting food and to take home what they can't eat. Initially, he was ridiculed on Chinese social media, but now, perspectives are shifting, and many may regret the waste they once ignored. I make it a point to bring home what I can't finish because food is precious to both rich and poor.

Yes yes, don’t touch her!😂😂

I don't get the Chinese economy. In this videos I keep seeing the economy falling down and then I heard they also spend like 120 million on a new released mmo

Only a few are closing, there are thousands of them still running and there are plenty of millionaires and billionaires in Shanghai and Beijing.

Is your channel financed in part or in whole by USA NED?

I’ve had the misfortune of eating (on someone else’s expense account) at some of these stupid Michelin restaurants in NYC (my hometown which I moved away from ASAP). #1. Everything takes forever. Wine choices are pushed “for the table” at a 400% markup. Same with water. They won’t serve table water, they want you to buy PA (where I now live) or upstate tap water for $27.50 for 750ml bottle. Anyway, picture the tiny appetizer served on a Giant plate with the food portion just enough for a 4 year old girl to still be hungry. Whisked away to be presented with an even Bigger plate with one butterflied shrimp majestically resting on a pool of “who cares” with 5 string bean’s artfully wrapped in a circular curl of lemon rind. There are assorted “dots” of I don’t know what and since you only have the single shrimp, it’s not like you have the ability to remove it form the puddle and wipe it around the little dots!! No starch. Order and pay for the privilege of $0.50 in potato for $17.50. Salad? Huge bowl with 2.3 ounces of greens on the bottom of this bowl while some pretentious waiter (they always hire waiters) stands ready with the pepper mill. Obligatory staff with scrapers for the tablecloth, but there isn’t enough food to create any crumbs! You are obviously still hungry, dessert? Sure! I’ll take the 3 flavors of restaurant made ice cream. I believe the scoop is the same one I use when making chocolate chip cookies. Bill for 4? $1285. Sorry! I just have to laugh. Spending that much money and hitting the fried chicken place on the way home is just ridiculous!

When gen z is trying to open a restaurant lolll😂 ofc they cannot stand even a year!

I enjoy watching the restaurant videos from Japan. People just working hard with fair prices and good quality food. And, get supported by their community. Branding and community seem to mean nothing in CCP China.

They should have converted it to a ghost kitchen.

Everything is going online, its hard to reach consumers who also dont have money thanks to the economy and inflation to get them to buy from stores (including online if you understand how poor being poor is)

There should be a "deflation and price cuts" at the same time to the philippines to be permenantly in any malls,groceries,markets etc. 😁☺👍🏻✨!

People crying on internet are the wors

China's has to be the country with the most deserted establishments in the world. Restaurants, hotels, condominiums, malls, etc. All empty.

Too pretentious. Im 29, earn $120k, no debt, single, and have a net worth of $150k so far. Id only spend over $100/meal max 3 times a year and only during special occasions. Else im trying to find food value healthier meals or mostly cook at home. I dont like paying huge mark-ups.

Where can I get that Gutter oil Hotpot ?😮

Winnie flu Winnie flu Winnie flu

I never understand "High End Food", it just seems Grand -Standing Snobbery, i eat to stay alive, not to brag about what i ate and how much it cost!

This usually happens when you copy other restaurants or just copy what foods are "fad" today. Good thing they invested a lot, may this be a hard lesson for them. 👍🏼

But only Carinderia and any low end restaurants with low prices of meals will be permenantly remain in it from which it would be good even for in the philippines to be occured😁😊✨!

continue the great work idol

I love karrrrrrma 😊

most of the world has declining populations , and the global economies are not good , so spending is down , inflation and interest rates are high so will take 2027 to ease

The addition "and more" must be the most thoughtless AND meaningless addition that I know. As an expression it gets added by content makers when they, after having started summing up a list of qualities, characteristics, or aspects of the subject at hand, have come to the point where they do not ACTUALLY know any more worthwhile things to say. It is a lot worse to add that 'and more' than just to leave it at the concrete (number of) things you mentioned. Nobody ever EXPECTS you to come up with an ever-ongoing, exhaustive list of whatever specific type of thing it is that could be mentioned about what- or whomever it is that gets bespoken. Mentioning just two or three things that deserve to be mentioned is fine, nobody expects more. Nobody expects there to be more, and nobody expects more from you in that regard! Adding 'and more' whilst you don't mention anything further and do not even seem able to give as much as a hint as what that more would be, is like asking your audience to tell YOU instead of the other way around. In that regard it is the equivalent of admitting you wouldn't be able to tell anything more (cause if you could have, you would have), bit are not satisfied with the (quantity of) things you DID make an effort of mentioning (even though your audience hardly ever would even experience it that way, it is as if you are signaling to them that it is actually so that you fall short of your own expectations) but despite making all this clear in a cryptical manner of sorts at the same time are not willing to admit defeat. To sum it up in one line, with the vague addition 'and more' the listener-viewers are TOLD that 'this limited summing-up of exceptional things just doesn't do, and I will say this to you in a way that makes it sound like I am the one who is to blame (for this, or erm, well anyway, for something) even if you didn't think so and never would have come to that idea!' Ugh. I have spoken. Exhaustively, probably. Blame me for taking up this mucho of your patience. I promise, I will say no more.

Do you guys have the version without any English dub over it?

If I wanted to start a restaurant in China, I’d have opted for a little street cart, selling skewers or desserts. Just a small cart. You start small and gain customers. Sure you’ll have a chance of failing and the profits will be small at first. But then if things go south, you’ll only lose your street cart. Always go for the lower risk option. Don’t sink your family’s inheritance into an unproven business idea.

Canton 8 is still open

The great leap backwards

Patriotism of Xinnie PorkPooh #slopaganda #misery #cmilkforpresident - 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. - This is a macroeconomic nightmare created by the party going way back in 1994 when they took the Tofu money off the international exchange. Now in 2024, the banks and the average little pink have no idea what is the ACTUAL value of anything within the country. Any stimulus from the Central state. will be meaningless and ineffectual because the Central Bank is a part of the Party. Thereby merging both fiscal Central and monetary private policies into one ongoing disaster. Local province officials were doing stimulus spending for decades in tandem of the "Economic Miracle" which will undermine any Central stimulus during an actual depression/recession or more accurately.. HYPERSTAGDEFLATIONARY NIGHTMARE. -- in the future house prices will drop to 10%, youth unemployment will be over 70%+ without streams, and middle class people over 35 will all be laid off. How will you do in a country 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 1-2 dollars while you drink Poop Water and eat gasoline cooking oil while the Party and Porkpooh eat Tegong Special food supplies. 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😊

Is it normal to have english text in chinese businesses?

Economy recession or correction in play and it's not permanent

nothing looks Michelin worthy in this video.

Tic Tic Tic

LOL "especially for women" yeah, and men are made of rock. One fact is, no matter where you go running business in food industry is very hard. Long hours in restaurants is normal. Most restaurants fail eventually. Even in the US. United States: First Year: Approximately 17-30% of restaurants fail within the first year. While older studies often cited a higher failure rate, more recent and comprehensive analyses suggest that around 17% of independently owned restaurants close in their first year Second Year: About 19% of restaurants that survive the first year fail in the second year​ Third Year: Approximately 14% of restaurants that make it through the second year will fail by the end of the third year​ Overall, this means that the cumulative failure rate over the first three years is around 50-60%. China: While specific yearly statistics similar to those in the US are less commonly reported, the failure rates in China tend to be high due to intense market competition and differing business practices. Generally, it is estimated that: First Year: Around 40% of new restaurants fail within the first year Three Years: Up to 70% may close within the first three years​

You should have explained to the layperson what a “Michelin starred” restaurant is. Many won't know, unless they're wealthy enough to eat at them. Michelin tire company has a rating for the best restaurants for the elite class, and they publish a list.

This report is 'tough to chew'...Hee-hee-hee.

You tried.

Just like in America

Whoever eats at a restaurant rated by a damn tire company needs to have their mentality put in check

Shame

OOOOOOOOOOOF!

Meanwhile PF Changs and Panada Express are doing record business in America 😂

I’m in China now, touring ancestral province, and I didn’t know it was this bad

doing business, with chinese characteristics.

Why would Japan do this?

80% of Restaurants fail in first year.

Doubt the rent was 25k usd a month

that is not a small shop.

First story: So what? No matter what he does in life with his current approach he will fail. Not a China issue. Second story: How many story lines in TV restaurant rescue series like Ramsay's Kitchen Nightmares are this exact inexperienced, incompetent operators scenario? Not a China issue.

These people need some financial literacy classes

Lol

🦍🦝🎉😮

Lolpwnt

GOOD😂

Hahahaha

the best food in the world is from mexico

Michelin ? 😂

"Homogenous" is not a real word no matter how many times you say it.