@petrsal6856 The CCP fucked China more than anyone else could have tried to. The one child policy destroyed the country all on its own, but nice try trying to deflect and make everybody else look bad.
@@petrsal6856 Trump forced China to play by the rules. They were tariffing American products and stealing American tech with zero consequences, for decades.
The crazy part is some companies are STILL building more housing towers when the population is decreasing pretty much in EVERY big city in China. There might be one or two that's not hit so hard but the population won't be growing in those cities either. So who is going to move into those towers? Sure, a real estate company, or builder might be able to sell a place as an investment property because most citizens don't want to invest in their own companies via the stock market. But then THOSE investors are stuck with properties they can't sell, and the odds are good most people in China already are aware of this situation because even though the CCP removes posts from social websites they can't stop people talking to each other.
They are now building those towers in western countries and selling them to Chinese business man, woman, CCP officials and investor's. Driving up real estate prices so people from those countries are priced out.
It’s all about laundering money from criminals who need to “wash” it. I didn’t understand how laundering works until I watched “Breaking Bad”. The construction business is the number one laundering vehicle. Doesn’t matter if the buildings collapse, can’t be sold or whatever. That’s not the point.
In europe population is also declining for decades but housing prices are ever increasing. The thing is the older people from the birth bubble are still living and not dying any soon, but people want to live and work in big cities since small cities don't offer oportunities. It's about people redistribution.
One of the factors contributing to downfall of the industrial manufacturers is the persistent poor quality of products forced on export. Prices were good but of HORRIBLE quality or fakes & copies. Obviously most foods for international markets were disaster of chemicals & heavy metals.
I just bought some wireless headphones. They are great, but I am really torn because they were made in China. After the debacle over the piano in London, I started watching some RU-vid videos about what’s happening in China. Americans have no idea (T**** takes up all the oxygen). I could not find a company in the US making headphones here. Maybe someone could fill that niche.
What kind of crap is that? it was your companies that decided to produce overseas and it was your politicians who set the business environment to favour leaving your own country
China has reached the middle income trap threshold. Low to mid end manufacturing is moving to countries with lower wages. China needs to grow its economy with a bigger service sector by increasing consumer consumption, but all the consumers' money is tied up in the real estate bubble market.
They need livable wages to fuel that service sector. J bet china collapses and starts over with new currency. Interwoven into a new social credit system
It took 80 years for american industry to export, and then 40 for chinese industry to collapse. So of the 3 countries left, they have 35 years and 3 moves left before all export labor becomes unprofitable.
Amazing to see Shenzhen laid low. China's transformation downwards since I visited in 2017 is incredible. Too bad China is not able to get new leadership to try a new strategy. Chinese at the time trade war began said China would emerge stronger than ever. I guess not.
indeed, china is now PROPERLY CUCKED by the americans. It's only natural since they don't respect the western way of doing business (and honoring intellectual property).
I just went to SZ a few weeks ago, it was still lively. But i was informed that labor cost are a bit expensive compare to some other places in China. So, some factories moved to other places in China. But it was still lively and buzzling and a lot of traffic jams.
the quality is what you want to pay for...... are you really that delusional that you believe a space visiting nation cannot produce high quality? There are high quality products you just dont see them because YOUR merchants import on the cheap
The only good thing that might come about is that the air pollution might get better with less factory pressure. Factories and dorms might not be the only thing demolished. Some of the sub-par housing might have to be removed.
Do you think these businesses will more carefully evaluate the politics of the country they move their manufacturing to? Even when they moved into China, it's not like China was a "friend" to the West or other Asian countries and already had their 9 dash line claiming most the S. China Sea along with having disputes with most its bordering countries about borders, already had issues treating Tibetans as criminals, started locking up people and using them as slave labor. This was ALREADY going on and these companies ignored it, and now they're paying the cost of moving because of the politics of China. Or I should say, they are suffering sales because for now they're charging higher prices to help pay for them to move out of China.
No they wont learn. They leave because the wages are now higher than in other countries. India is already very hostile towards the West and their gouverment even murdered a Canadian Indian activist recently. China is still more horrible though.
They are not suffering nothing.. They did their profit cost analasys before they came.. Those corporations are not people. They are entities made to create profit. If it was allowed they would literally do anything that makes profit.. It is as simple as that.
@@relight6931 ALL behaviors have consequences and economic behaviors are not exempt. in addition, many business decisions are very poor, being driven by an opportunistic attitude and greed, and in fact most are.
@@Brian-pz3wh listen, I agree with you.. But it is helpful to if needed to place the quilt, to where it belongs.. It wasn't "evil" chinese people, who might I need to remind you even today have more then half of their population living under poverty line.. Yet OP fails to see, it wasn't their fault.. It is a simple process of corporations always searching for those lands of ever cheaper labour..and more lax human rights.. Consequences are very real, just don't fall into a trap of thinking it was evil China that took your job.. It was your domestic corps, fully aware of what China is like, and still moving there..
Well said. Also a lot of those greedy companies went out of business. Once china stole or reverse engineered their products. I still can't believe even Hollywood fell for the trap. Now I see big gaming companies going down that road. Once china start developing Big name games for the western market a lot of those companies that are helping china will also one day go out of business.
I really would love to see more peace in the world in future. There are Problems which need cooperation in future of the hole world community. But in german we have a metaphor which is true. „ Arrogance comes before the fall“
This is just the natural progression of development. I remember how South Korean businesses moved their factories to China when China first opened up in 90s and how South Koreans had the same issues. They found the solution by improving the product and going hitech. Chinese companies will have to move their factories to Vietnam or India. Can they make it in a level playing field without subsidies from the Chinese government?🤔
Ccp will no longer own demand 51% and propriety rights... and will not have to worry about the knock off products and factory output when no one is looking.so they are WaY better off outside of Chyna
I am very sad. I bought and sold high quality renewable energy products based in Hong Kong and Shenzhen for many years. I worked hard to establish lifetime relationships. I stayed at the best hotels in Shenzhen, Nanjing, and throughout mainland China. I was always treated with kindness and the most gracious hospitality. I will return to do business in 2024.
Most Chinese buildings are made using reinforced autoclaved aerated concrete (Raac) which has a 30 year lifespan before it comes crashing down. Hence they are demolishing them before they fall down.
Reminds me of areas in the Midwest back in the day when manufacturing was moved from US to China… I guess manufacturing cycles are about 40ish years? Another 40 years they will move again, hopefully the current boom areas will be more prepared than US was in 80’s/90’s and China today.
@@stevenphillips3466 Huh? The manufacturing, as well as all the supporting industries, jobs left the US permanently. That is why most manufactured goods, and quite a bit of food and pharma, in the US have foreign origins now. The people of the rust belt had to retrain to a different field or retire much like the Chinese will have to do now.
It's all very sad for the poor workers. Now these capitalist companies will pay crap wages in new markets until it's time to abandon those countries for even poorer ones.
Dont blame the west or rest of Asia reluctant to do business with China. China makes business more difficult with their own internal policies. So Chinese need to reflect on themselves,either change the goverment or their own policies instead of blaming outside of China
This is truly horrifying, however, when the automotive industry in the United States closed factories in Ohio and move them to Mexico, you should see those communities. Now Cleveland, Ohio is a graveyard on the east and west side. Those people never got jobs again most of them retired early and now it is a real SH blank blank hold and no one wants to live there. If this is what China is doing then this explains why there are so many Chinese refugees now coming in through Mexico into the United States. But there are no jobs in the United States and all the refugees coming here right now are only going to be living on government money through the refugee program. but has China opened up to refugees?
The Deserted and Demolished Industrial Areas of Shenzhen: A Relic of the World’s Factory, Leading to Urban Depopulation and Economic Crisis 🏭 Shenzhen's industrial areas deserted and demolished, leading to urban depopulation and economic crisis. 00:00 Industrial areas in Shenzhen deserted and demolished 00:00 Factories and shops closed, leaving empty spaces 00:09 Exodus of migrant workers due to factory relocation 00:34 Urban villages quieter with fewer people and closed businesses 01:55 Shenzhen's transformation from small town to megacity 03:02 Severe crisis of population outflow and falling housing prices 03:44 🏭 Shenzhen's industrial decline leads to job loss and housing price drop, causing migrant worker exodus. 03:58 Migrant workers returning home cause quiet communities 03:58 Housing prices in Shenzhen drop by 30-55% 04:40 Population exodus and industry hollowing out lead to severe job loss 05:25 Many mid-level enterprises move out or shut down 06:16 Job hunting becomes increasingly difficult for migrant workers 07:06 🏭 Shenzhen's manufacturing industry undergoes significant changes, leading to closures and relocations. 07:41 Relocation of manufacturing industry in Shenzhen began in 2008 07:41 Shift from low-end industries to Finance, real estate, and Technology R&D companies 07:54 Pressure on manufacturers to relocate due to land development plans 08:56 Proactive shift in manufacturing due to China-US trade war 09:37 Global manufacturing industries seeking alternatives to China 10:20 Frequent closures and relocations of long-standing companies in Shenzhen 10:48 Examples of major manufacturers ceasing operations in Shenzhen 11:36 🏭 Shenzhen's economic shift leads to deserted factories and struggling city 11:59 Hong Kong funded company ceases operations 11:59 High vacancy rate in office buildings and fake headquarters exploit tax incentives 12:48 Shenzhen experiences negative population growth for the first time 14:00 City officials promote industrial city again, inviting back previously forced out companies 14:20 Shenzhen struggles to attract foreign investment and maintain appearances 14:59 Largest cultural and tourism night market becomes deserted just 4 days after opening 15:06 Video blogger showcases deserted night market with empty stalls and few visitors 15:27 🏭 Shenzhen night market deserted after factories and urban villages demolished, sparking controversy. 15:50 Night market deserted after factories and urban villages demolished 15:50 Video sparked controversy over timing of visit 15:57 Market remained deserted during busiest time visit 16:04 Empty stalls and deserted streets observed in the market 16:12 Former Mercedes-Benz 4S store transformed into night market 16:55 Government's creation of night market seen as political task 17:15 Discontent expressed over the pointlessness of night market without factories 17:30
Isn't it the New Year for China currently? That means it would be shut down for weeks so people can go home. Not saying things aren't bad but when was your footage taken? Just curious. Up with the people down with CCP
i went to Shenzhen 30 years ago for business ....it is now everything went up over 100 x similar like bitcoin ...it is not in correction..and i don't see any problem......
I'm EXTREMELY concerned about China and their population. Hundreds of millions were locked up, forced vacksed, detained, etc. WHERE ARE ALL THE PEOPLE !?!? Thousands of factories and restaurants, neighborhoods, entire VILLAGES ARE EMPTY. How many are no longer with us !??? This is depopulation and it can't be hidden anymore
Maybe about 40/50 years ago most US city’s subway/metro trains were built by the Japanese and in the 90s they were built by the Korean company. Guess what company is building the replacement trains now.
Actually the "changing the bird" policy seems reasonable and in the end everybody profits from it. China has a declining labor force due to demographics and seeks higher value industries instead of labor intensive low profit industries. Other developing countries get the chance to also industrialize and profit from global trade and the foreign companies get to relocate to an even cheaper place to produce. Anyway they would have soon left China purely for cost reasons.
I believed in order the state need to transition from Manufacturing to finance & High tech sector, the state need to retrain the people 1st, not just blindly execute the new directive. also some enticing benefits (such as tax break) to help invite other big company that are finance & high tech to invest in Shenzhen. so that when the state do start executing to finance & high tech sector, the people are ready to move/ reemploy to that area. My guess is the state government just blindly do it without planning. just rush it without thinking - Poor Planning. That's how the outcome comes out where the ground people suffers.
It seems like it was only yesterday that I read about Xi seeking to transform China's economy from relying so much on exports to one of internal consumption. He has also sought to repress foriegn influence on Chinese culture...and then there are the tensions created by it's expansion of territorial claims, threats of invading Taiwan, and support for Russia in their war against Ukraine. It would be difficult to see how this could be anything but bad for China.
It's also very contagious, greed travels, Mexico is starting to get insanely expensive with the influxes of foreigners to the point Mexicans are being displaced from various cities, cause they can't afford or compete with the hikes the GREEDY landlords are charging now in dollar vs peso 😢‼️
Have you seen the grand opening of Costco in Shenzhen ? Did you see the queue to get in? Despite the poor economy, many people still have money to spend.
How many are buying? i've seen people just wandering around with entire family in those large box stores. they buy a few things after spending 2 hours just looking at items.
Businesses move to cheaper operating costs and cheap labor. America to Japan to Korea to China to now India and Vietnam. Soon these businesses will move to Cambodia and other countries.
They dont have the infrastructure to support that. Those countries have already been tapped for mining for asian countries. They have 3 countries max that can support that, and none of those countries will last as long before the labor market caps out, like current china. Id give india 10 years to get to the same point. Its a race, and theres not much road left.
