@Turbo_Tau 🤣🤣🤣 You know what..?? 🤣🤣🤣 👇👇👇 Yesterday's was : "China's economy is collapsing " Today's : "All stores on street side in china closed" 🤣🤣🤣 It’s really a good bed time story for both Uncle Sam and FuckLunGongers to fall asleep every night. 🤣🤣🤣
This is what happens when you criminalize running a business, just walking and breathing during the lockdowns. You break EVERYTHING. People lose faith in economy, monetary system, banks, businesses that complied, law enforcement and their government. Moving more commerce online is a way to centralize and control how you live. No physical store? You will have a harder time using cash. To me, it is on purpose.
Part of it is because of the "Decoupling" that is redirecting many purchases and operations to other Nations ... due to international growing distrust ... China's lack of transparency, lack of due process, legal uncertainty ... human rights violations ... disrespect of international treaties ... its growing aggressiveness against its neighbors and the military expansion in the China Sea ... excessive corruption ... foreign briber ... and others ... Part of it is that people in many countries are holding back on their spending and investments because of Inflation and Recession in their own nations ... And the final part is China's own internal problems ... Internal Recession ... and the Chinese People's growing distrust in CCP and its ability to manage the economy ... !!!
Don't be a simpleton and swallow everything you see on YT. This channel also claim the three gorges dam is cracking up and about to collapse every year during the wet season.
Only economists and imbeciles beleive there is no limit ! Too many human on this planet mainly in third world countries they cant even feed their children . The one child policy saved China in fact !
Deflation it is. Foreigners are leaving hence less consumption, less consumption meaning less earning, less earnings means saving cost, saving cost meaning less spending.
With Nigerians deserting China as a result of bad treatment during the covid years as well.Perhaps the vile vaccines jabs are finally doing their horrible jobs intended after all😢
@lettucesalad3560 🤣🤣🤣 You know what, kid..? 🤣🤣🤣 👇👇👇 Yesterday's was : "China's economy is collapsing " Today's : "All stores on street side in china closed" 🤣🤣🤣 It’s really a good bed time story for both Uncle Sam and FuckLunGongers to fall asleep every night. 🤣🤣🤣
Been in Shanghai for 12 years, rent prices are ridiculous. Impossible to run profitable business even if you operate yourself without staff. Even places where all shop are empty and for rent, they still ask ridiculous high rent
Reminds me of the joke about potentially and realistically. Every Chinese real estate owner is a potential multimillionaire, but realistically they're just a future foreclosure.
@emersonshiff8132 🤔🤔🤔 Wasn't it China that put aside a whopping $500 million for bad publicity against the USA. 🤣🤣🤣 👇👇👇 Oh wait, it was exactly the other way round. 🤣🤣🤣 👇👇👇 Go collect your 50 cents., uncle Sam. 🤣🤣🤣
From the US, this reminds me a bit of how Walmart got really concerned with the rise of e-commerce, thinking their physical locations wouldn't survive. Obviously, Walmart and others are still around, but I think this exposes a major difference between a company in the West vs a company in China. Outside of China, companies can adapt to changing circumstances. In China, companies can't adapt to new economic environments, as they are built to function in a very specific environment (government subsidies and currency manipulation, among other things) that props that company up. This makes Chinese enterprises very "fragile".
The CCP is at fault. With Xi Jinping's evil foreign country and horrible foreign people rhetoric, there was a mass Exodus of foreigners and their companies.
Remember how bad things got in 2008 in the US when our housing market crashes and we had a bad recession. China is just going through that now only their housing bubble was much bigger than ours and prices as a multiple of incomes got way higher too. They could be in a multi-year downturn.
@@gordo3582 Well said. I think that the bursting of the bubble has already begun, China has been stagnant for several years even before COVID. It has been almost a year now since they dropped Zero-COVID, and by all metrics this year has been hell for China. Worse than during Zero COVID, which is just a trip!
The boom economy of the Chinese golden years was build on an immense mountain of debt. America has seen similar, but arguably never to this extent, not even the jazz age!
i can't believe a supermarket would lose business over online stores. People are just not there (seasonal workers, office and factory workers, holiday makers), or if they are, they have no money
well... you have to see what the CCP did during covid, which is still going... forced lockdowns, people starving, no work, etc... so what do you do? go full online... either adapt or die i guess... if you dont go out you cant catch covid even if you catch it, by the delivery guys no one will notice...
In San Francisco a McDonald’s in the core business area has closed after 30 years because it only has walk in business and there’s not many people working in the big office buildings anymore. A McDonald’s in the outlying part of town where the crime is really bad is still doing well.
we have had this in the UK twice. we lost all the small independent food, toy and electronics shops back in the 80s. they went away because of the supermarkets and superstores. just now we are losing many of the bigger shops in town centres to things like amazon. when is was young in the 70s. everyone shopped on Saturday morning. housewife's shopped in the week but no one shopped on Wednesdays or Sundays. as everything was closed. but at the same time almost no one worked at the weekend or after 5pm. now we all work all day everyday. so going to the shops is simply not possible for most people.
Appears to be an epidemic on the shopping level. Here in the States it has happened in San Francisco and Sacramento. Across the nation many malls have disappeared. This began before the 2019. Online shopping should be an option. We need our stores.
Here in Germany the situation is similar, although the reasons for this might be different. Germany had a lot of shops dying in the late 1980s and the 90s, because cities got subsidies by the state for rearranging city centers. The state incentivised cities to subsidize huge 'Kaufhäuser / department stores', which lead to the slow death of smaller shops and businesses. Then Amazon etc. became a thing and the huge department stores began their long illness, in many cases saved from bankruptcy time and again by huge payments of tax money. And then corona hit and with it came the insane lockdowns here in Germany and killed a huge part of what was still left. Now we have dead city centers where all you can find are barber shops, food stores and 1-Euro stores mostly run by migrants, who can only afford to run those shops because they have established what can only be called a complete shadow economy. Seriously, the cash registers in those shops are usually open all the time and in many of them, one can only pay with cash and never gets a valid receipt, everyone who is not a complete ignoramus _knows_ those shops barely pay any taxes.
Yup Amazon has destroyed retail. This is it's business plan. Undercut the established businesses; minimise overheads and replace humans with automation. Oh! And don't pay any taxes.
Landlords are going to face reckoning even outside china. They can't keep acting as thought their well located retail can draw as much today as they could yesterday. With the rise of ecommerce, that's just antiquated thinking.
I am back from Shanghai, the problem is that, there is too many malls, and there is new mall coming out, only the strongest mall survive , the only real crowd puller is one with Apple store , and some famous restaurant, and snack stall, the rest like clothing, furniture or what ever they're selling just don't bother , the staff is more than the customer, they can buy it online with a cheaper price
@@prefixsuffix office building is still bustling with lights especially the one along the bund and lujiazui, the number 2 Subway as usual is crowded with office people during peak hour and fill with tourist and also the local , they like to dine around these area
So sad for the building owner 😔 for paying hi tax but no more renting on their unit because many bussiness es doing at home less high rent less expenditure less Labor to pay In banking thanks for A.I. less clerk to pay In hospital only the surgeon is more important no consultation needed because of A.I. doctor but in near future surgeon is not needed because of A.I. surgeon
Just like the Great Depression in the US 1930's....High unemloyment rate, less people has money to spend. They spend less on foods, they cut their own hairs, so supermarkets and barbershops don't have as much customers as it used to be.
I quit having my haircut professionally during Covid and I’m very happy because I have fine hair and most people would pull it trying to brush it out and it was an hour of driving and 55 bucks that I don’t need to waste when it only takes me five minutes to trim the length of my hair.
@@melissasmess2773 FlowBee!!!!!!!! I've had one for near 30 years. It looks like you go a haircut LAST WEEK in the sense it's not making a perfect trim. Biggest "Wear" item is the plastic extensions. The resins in the plastic age out and the pieces turn brittle after a number of years.
SOme of it i think is with factories closing etc workers have moved back home. So all those stores have no consumers to buy their stuff. But all the footage ive seen is a severe lack of people, even the food stores. I wonder if this is also due to workers moving back home but also due to people that died of covid.
My partner is from mainland China, and knows Shanghai very well. I am reliably told therefore, that many of the places that this video claims to be shot in Shanghai are actually elsewhere in China.
Those geo-political reasons stem from a combination many countries reacting to depending on China for most of their medical supplies, as well as the push from the CCP for foreign companies to get out. There's a notable relationship between the 'Made in China' tags, and the falling quality of those products, as inexpensive as they may be. Having cheap products that need to be replaced often doesn't compare to those same products made with better material and higher quality, which happen to last a great deal longer at those higher costs.
Pandaren products were always crap. Japanese and Koreans were too, but they at least have cultures (while very Pandaria-based, Japan wasn't even a civilization until around 500 AD) that allow change and innovation. The Pandas... not so much.
I bought 2 Chinese electric shavers off of Amazon. "Different" companies. The hinge and triple head were exactly the same. The hinge broke on both. Theoretically, I was still ahead of the game $$$$ wise compared to a name brand. But, I had enough. I went with a name brand. Made in China, but at least someone is paying attention to the quality control. I didn't lose money in those 2 Chinese shavers, but it was inconvenient.
yes, Germany used to make three stitched dress shirts, three times+ as expensive as those from China sold here in Canada. However they lasted one's entire life, like clothing washed over and over or those long lasting bought from Eddie Bauer.
I can really empathize with these poor business owners. There is nothing worse than feeling trapped in a downward spiral where you spend entire weeks running your store, only to come up short of money at the end of the month. Unfortunately, in such cases the best solution may often be to cut and run, just close down the business before it bleeds all one's assets and find employment elsewhere if possible. Even being unemployed is better than continuing to bleed money. It's sad, but sometimes you have to just give up, get out and do something else.
The problem there when you have 100 - 300 million people try to do that, it causes ripple effects across the world. The horrible truth is that BECAUSE the state propped up bad policy for decades during their manufacturing boom, this decline is likely impossible to avoid and at a magnitude that will be written in the history books.
Landlords are stubborn they think they can keep raising prices lol but the result is they get zero money a month instead of a reduced amount and this is what they would prefer in a classic cut nose off despite face tactic
This is a worldwide phenomenon. We have it in the US as well, the whole of the Americas and Europe too. London is the richest City in the world, yet they are having this same problem in areas.
Honestly this is going on everywhere in the world. I went to SF a couple months ago and the Pier was pretty much completely empty at 5pm on a warm summer day. We're in a global economic slowdown.
SF is a sanctuary city exception. Cities in the South are thriving active cities. Er just went to a grocery store, health and vitamin store and nice restaurant all within 50 yards of each other, plentiful parking, no crime worries.
There are different reasons for San Francisco businesses shutting down. It has a lot to do with California’s decriminalizing of shoplifting. Also homeless people are driving away customers. Homeless people don’t spend money. . . Except on drugs.
McDonald’s in the business area of San Francisco closed after 30 years because they no longer have enough walk in traffic, they have no drive-through so there’s definitely not many people working in the office buildings anymore. Another location in the tenderloin district is still doing well despite all of the crime and poop.
China is just in a worst state because foreign investors are slowly leaving due to bad politics/covid etc. China won't make it without foreign money, it's a ponzi scheme and this is slowly uncovering this fact
From my point of view in Spain. October was very very bad, a drop of around 25% on turnover and November is looking worse. The same thing with people, they seem to have vanished. Shops, malls, streets all seem empty, so where are they???
Chinese buyers not very smart before. Prices were sometimes absurly high, especially the "mall tax" is crazy. It's the same here in the Philippines, let the online shopping destroy the unorganized little shops.
As the Chinese factories closed, so too did the retail districts which served their millions of employees. All of those now jobless Chinese have returned to their towns in villages, where at least there's a roof over their head with family and perhaps a garden or farm to keep them fed. People in those circumstances don't buy online- or offline.
I think that it might be due to their commercial reputation (Like KFC or other US companies), the Chinese public are not confident about the ethics or quality of wholly Chinese companies. Same with Apple Iphones.
@@Nowhandles That's not my point. My point is the restaurants still manage to garner a good amount of customer traffic throughout the ages. You rarely see a McDonalds franchisees go bust. Even in the United States. In fact in times of hardships(recessions) they actually start performing better.
Great branding and positioning. They do good at the nostalgic angle of reminding you of the burger you had when you are a kid and priced themselves at really affordable prices so you will feel good going when you have less money.
Turn them into appartment, boost communial living for the elderly. Add botiques and sport center/gyms and day cares,salons resturants within single complex! This can repurpose retires into care givers and boost revenue for the state!
You think you have it bad?! At least you don't have druggies, transients, and tents along your sidewalks like San Francisco. Also shopkeepers get robbed, burglarized,& mugged by unidentified suspects who seldom go to jail. 😢 You're not alone!
I just got back from Guangzhou. definitely not 90%. where di you get the data from? beijing road (the main shopping district of the city) does not even have vacant space. still long queue at top restaurants. They are definitely slowing down but I think the exaggeration needs to stop.
Two aunties came into store took a Coca-Cola bottle out the fridge realised it was fake and put it back. One auntie said to the other she didn’t need another laxative that day. 😂
Now you are asking the right kind of questions. Shops closed is one thing, streets devoid of any real traffic mid-day is another. Not gonna be surprised to learn that their population is down by 60% or more.
I've been cutting my hair since the pandemic. I'm really good at it now so I don't need to go a barber anymore. I shop mostly online too because it's very convenient, easier to compare prices and a lot more choices.
Flowbee for me for the last 30 years. Not perfect but pretty close. I use Amazon constantly. I see nothing wrong with that as opposed to shopping at a country or international wide chain. Their backrooms are warehouses of brown boxes no different than Amazon. As if Kohls, Walmart + Target are shining lights of small business.,
Hahaha, this ia scam, u see those ppl still wearing mask, its covid situation last year, i just came back frim guangzhou and its really live, its full of ppl, the shops on the street almost all open doing business, their business is good, the crowd is there.
Looks exactly like the downtown commercial areas of MANY cities in the US as well. Block after block of empty retail space. Here we blame on-line shopping.
Today i I was in food shop in my country in Europe. It was corner shop , only two women working there. They must work on checkout, fill the shelfs, looking for potential thieves, slice meat and cheese on counter,answer customer enquiry, probably take new goods. Basically employer will squeeze them for everything they have.
As things continue to get worse people will move back to their towns and villages people have to eat if the supermarket is empty it’s because people are leaving the cities because the work has gone
Idk.. I was like maybe people online would want to buy something. Open up sales to a broader market. If they're losing money instead of gaining, closing down might be necessary.
This goes way deeper- people quit buying food and cigarettes?! Quit getting haircuts?! Tabacco addicts don’t cut back suddenly.. and hair doesn’t stop growing! Where have the people gone to?!?
I live in Shanghai, don’t believe everything you see here, yes, consumer spending has decreased but no as alarming as they show here… I was at Nanjing pedestrian street last week, completely packed
I understand I see a lot of Chinese channels and anti Chinese channels mocking India and telling they r best , same I see a lot of western channels saying china is done for so everyone is throwing their propaganda puking all over the internet don't trust them.😑
"Cursed be every one that curseth thee, and blessed be every one that blesseth thee. " Genesis Chapter 27:29 This is how history proves it. For over 2,000 years, all the oppressors of Israel have disappeared into the dustbin of history.
@@ronnelacido1711 Define “typical” Chinese? This is happening in China, not you local Kroger. How many years have you lived in China to know what’s “typical” to China?
Royal we have closed shops too,CA,MO,TX,. We are moving around and I believe because of The Exodus the travel is stressing and new. Because Abba is in The Mist of His people
I believe that this is a result of better online retailers and food delivery services. It is about time that the property prices in China becomes realistic. Instead of benefiting few property fat cats, more residents of these cities are better off. Actually, this sounds like good news and improvements to me.
No-one is raising rents as stores and areas are being deserted (not for long anyway). That is stupid and false. You need to go back to economics 101. Chinese aren't buying everything online. They simply are doing what the Japanese did after their extraordinary boom in the 70s-80s, not spending at all (except on necessities of course). The reason is fear (hoarding), massive debt and ridiculously overpriced assets ... which have been fed by the massive debt of course. If people do buy online, that offers many jobs in stock control, taking orders, packaging orders and delivering (delivery of course is key and there are always jobs available but they are badly underpaid and of course unpopular). The Chinese, and many throughout Asian generally, are typically middle-men. They sell stuff and try to take the margin. Or they make stuff using dirt cheap labour. This makes them easily discarded, simply replaced and therefore always vulnerable. It's also not difficult to figure them out - why pay some Chinese middle-man so he makes money from simply buying cheap and selling at a higher price? Or paying some poor workers peanuts? Anyone can do that. The whole "eight or tenth floor thing"? Anything above the ground floor and first floor is vulnerable. The higher you go the less people who go there. This is apparent all throughout Asia. Higher floors fail (except for nightclubs, restaurants, entertainment, gyms etc). ECONOMICS 101: Everything will always return to the long-term mean over time. If you have a boom, it will eventually collapse, overcorrect then come back to the long-term average. EXCEPT if you have strongly boosted demand (eg: from immigration or whizz-bang new products for example) while continuing with static supply (eg: such as already built dwellings in western countries). Anyone confused by this only needs to take a look at Japan and Hong Kong since the 70s. Now it's China's turn. It would be Australia's turn next too ... BUT it has a massive immigration program in place due to the questionable Labor government and stagnant property availability. But eventually that will fall over too (arguably - because too much housing construction needs to happen and that is unlikely). LATEST: China Observer has just enrolled in an economics course so it actually knows what it is doing.
An Achilles heel of the Chinese economy has historically been that it was extremely dependent on foreign trade as opposed to commerce from it's residents. Very different from the USA where the majority of it's economy is due to the buying power of it's residents. The USA depends less on foreign trade than China.
I was in Guangzhou a few days ago. I have to queue for one hour and a half to get a table for dinner at a good restaurant(炳胜）, I have seen vibrant street phenomenon in almost every part of Guangzhou. So where is the lost of business, closure of shops ??? Please don't lie!!
And this is why foreign money is not going to be spend there. You want the money to make military equipment to kill us after we buy your goods ? So I am paying you to kill me ? Makes sense. Hence reduction of trades and tourists....
Why does this video contradict the "night time guangzhou" or "night time shanghai" videos of crowded pedestrians and people enjoying their time out into the late of night (without fear of crime mind you)? Day time, people are mostly at work and rarely on the streets on a weekday, unless you're tourists or other reasons needing to commute. The weekends are packed and full of people at these very same stores. Every time that I visit those cities, it's crowded. Now whether retail sales have decreased, that's another topic.
America ain't even close to this Or least the city I live in. Are pandemic times look 100x busier then the stores they are showing in this video today.
Thankfully my small town is still slogging along here in Arlington Or, with one small store, and a Mini Market/Gas station. Oh and a pizza place, and a restaurant that I have never seen...
My heart broke for these people when they were locked into their apartments during cv, and it breaks for these businesses now. Those neighborhoods look beautiful and clean, and I pray that they will learn to follow the promises of our Creator God in the Bible, and have salvation and revived prosperity in the name of Jesus Christ. I pray also for their leaders to know the Truth, for it will set them free, and they in turn will set the people free. Amen.
They could try sell things outside without renting a building or stack your house or apartment with items your can sell on line. (This is just an idea)
I don't know how e-commerce affects restaurants, food and vegetables stores. I assume everyone is just eating MacDonalds and KFC. Maybe everyone is leaving the cities and moving back to the country.
In Panderia? They aren't fat Yankees, though I am sure they will eventually purge the ones that were infected with Western influence eventually to preserve harmony their culture has been built around for centuries.
That is what I thought too, that people trust the brands like McDonalds believing they have better quality controls because eating at these places is not cheap. I could spend 6 to 12 yuan on a meal in a local restaurant in the district I lived in in Guangzhou versus 45 to 50 yuan at McDs and KFC.
As a percentage of the population, hardly anybody in China eats at Mcd/KFC. If they don't eat out at a Chinese restaurant, they order cooked food or fresh vegetables/frozen meat/etc. on Meituan, the food delivery app.
Definetly nothing to do with infinitely increasing rent everywhere.. landlords are eating good while everyone else struggles cause people have to chose between place to live or going to barber.
In Europe things aren't much better either, although not to such an extent. Purchasing power massively decreased, so we can no longer to afford goods from China. If Europe is doing bad, Africa isn't doing well either, because the African diaspora who live in European countries can't afford to send money to their country, who cant buy things... This is a global problem.
theres a lot of supplies than demand in china...people invest in property hoping it will become profitable in the future but a lot of people doing the same thing theres no demand.( and a lot of building is destroyed) they've only left with debts to pay....you know chinese people are bussiness minded.. a lot of people doing bussiness but no customers because all of them is busy in their own bussinesses.. i guess those people who lost everything went to province and just plant their own food to survived..and some people change location to a place what they think would the next booming cities in the country...well i think the government need to do something...to balance everything out..
China's economic wonder: came fast, gone fast. Not sustainable.
Lets hope the next step isn't war.
@@Apophis1010 If they do it, they should do it with themselves.
that's what happens when they forget where they came from. Bite the hand that feeds you and see what happens
@Turbo_Tau
🤣🤣🤣
You know what..??
🤣🤣🤣
👇👇👇
Yesterday's was :
"China's economy is collapsing "
Today's :
"All stores on street side in china closed"
🤣🤣🤣
It’s really a good bed time story for both Uncle Sam and FuckLunGongers to fall asleep every night.
🤣🤣🤣
They've been on top for decades, problem is the whole world is in decline. The design is so calculated.
This is what happens when you criminalize running a business, just walking and breathing during the lockdowns. You break EVERYTHING. People lose faith in economy, monetary system, banks, businesses that complied, law enforcement and their government. Moving more commerce online is a way to centralize and control how you live. No physical store? You will have a harder time using cash. To me, it is on purpose.
Part of it is because of the "Decoupling" that is redirecting many purchases and operations to other Nations ... due to international growing distrust ... China's lack of transparency, lack of due process, legal uncertainty ... human rights violations ... disrespect of international treaties ... its growing aggressiveness against its neighbors and the military expansion in the China Sea ... excessive corruption ... foreign briber ... and others ...
Part of it is that people in many countries are holding back on their spending and investments because of Inflation and Recession in their own nations ...
And the final part is China's own internal problems ... Internal Recession ... and the Chinese People's growing distrust in CCP and its ability to manage the economy ... !!!
Let’s face it they really let the people down are so called educated professionals. 👏👏👏 couldn’t run a party without stuffing it up.
Couldn't agree more.
Don't be a simpleton and swallow everything you see on YT. This channel also claim the three gorges dam is cracking up and about to collapse every year during the wet season.
It was a one world order, covid lockdowns and the vaccines
Imagine the government asking for more kids and the jobs are disappearing everywhere. Why would people ever have kids in this world?
They want more future slaves.
You have more kids because the CCP said so or are you a Traitor to your country??? What is your name , address and date of birth? CCP wants to know.
Only economists and imbeciles beleive there is no limit ! Too many human on this planet mainly in third world countries they cant even feed their children . The one child policy saved China in fact !
Deflation it is.
Foreigners are leaving hence less consumption, less consumption meaning less earning, less earnings means saving cost, saving cost meaning less spending.
With Nigerians deserting China as a result of bad treatment during the covid years as well.Perhaps the vile vaccines jabs are finally doing their horrible jobs intended after all😢
RIP CCP economy.. back to communal farming
Canada gonna do the same.
@lettucesalad3560
🤣🤣🤣
You know what, kid..?
🤣🤣🤣
👇👇👇
Yesterday's was :
"China's economy is collapsing "
Today's :
"All stores on street side in china closed"
🤣🤣🤣
It’s really a good bed time story for both Uncle Sam and FuckLunGongers to fall asleep every night.
🤣🤣🤣
.......and the US@@Rihardololz
Been in Shanghai for 12 years, rent prices are ridiculous. Impossible to run profitable business even if you operate yourself without staff. Even places where all shop are empty and for rent, they still ask ridiculous high rent
@mferjabadabadou9001
🤣🤣🤣
Naaaaaaaaah.. You should have sold your storyline to CNN, Fox, BBC or at least WION.
🤣🤣🤣
Sounds like NYC, lol.
Reminds me of the joke about potentially and realistically. Every Chinese real estate owner is a potential multimillionaire, but realistically they're just a future foreclosure.
@emersonshiff8132
🤔🤔🤔
Wasn't it China that put aside a whopping $500 million for bad publicity against the USA.
🤣🤣🤣
👇👇👇
Oh wait, it was exactly the other way round.
🤣🤣🤣
👇👇👇
Go collect your 50 cents., uncle Sam.
🤣🤣🤣
@@rh906 Louis Rossmann did some videos on the stores and out lying home prices during COVID. This sounds very similar.
From the US, this reminds me a bit of how Walmart got really concerned with the rise of e-commerce, thinking their physical locations wouldn't survive. Obviously, Walmart and others are still around, but I think this exposes a major difference between a company in the West vs a company in China. Outside of China, companies can adapt to changing circumstances. In China, companies can't adapt to new economic environments, as they are built to function in a very specific environment (government subsidies and currency manipulation, among other things) that props that company up. This makes Chinese enterprises very "fragile".
The CCP is at fault. With Xi Jinping's evil foreign country and horrible foreign people rhetoric, there was a mass Exodus of foreigners and their companies.
Remember how bad things got in 2008 in the US when our housing market crashes and we had a bad recession. China is just going through that now only their housing bubble was much bigger than ours and prices as a multiple of incomes got way higher too. They could be in a multi-year downturn.
@@gordo3582 Well said. I think that the bursting of the bubble has already begun, China has been stagnant for several years even before COVID. It has been almost a year now since they dropped Zero-COVID, and by all metrics this year has been hell for China. Worse than during Zero COVID, which is just a trip!
How can these communist countries be struggling? Isn’t the idea to help all the people? Long live big brother!
The boom economy of the Chinese golden years was build on an immense mountain of debt. America has seen similar, but arguably never to this extent, not even the jazz age!
i can't believe a supermarket would lose business over online stores. People are just not there (seasonal workers, office and factory workers, holiday makers), or if they are, they have no money
well... you have to see what the CCP did during covid, which is still going... forced lockdowns, people starving, no work, etc...
so what do you do? go full online... either adapt or die i guess...
if you dont go out
you cant catch covid
even if you catch it, by the delivery guys
no one will notice...
The e-commerce industry here is that good, you don’t have to go to the supermarket
In San Francisco a McDonald’s in the core business area has closed after 30 years because it only has walk in business and there’s not many people working in the big office buildings anymore. A McDonald’s in the outlying part of town where the crime is really bad is still doing well.
@@cocobiskitso u also get haircut online?😂
这个频道的全是假新闻。拍个下班关门的时间视频。
The lesson for china is don’t bite the hand that feeds you
Stupid comment, look the real there, they are in great conditiin, and chine will be the next leader
Exactly
Now days Chinese products smells like toffu.
😅 you mean the US,you can't bully people and countries and lie and expect to remain on top.
TOOO late! They did already.
This phenomenon is happening world wide. People are in debt, prices are so high in food and services, we don’t have enough money for other things.
Here in the Philippines some people who are on the opposition side think that this is just happening in our country.
I got three TVs, don't need another one, ain't got that many eyeballs.... 😂
we have had this in the UK twice. we lost all the small independent food, toy and electronics shops back in the 80s. they went away because of the supermarkets and superstores. just now we are losing many of the bigger shops in town centres to things like amazon.
when is was young in the 70s. everyone shopped on Saturday morning. housewife's shopped in the week but no one shopped on Wednesdays or Sundays. as everything was closed. but at the same time almost no one worked at the weekend or after 5pm. now we all work all day everyday. so going to the shops is simply not possible for most people.
Appears to be an epidemic on the shopping level. Here in the States it has happened in San Francisco and Sacramento. Across the nation many malls have disappeared. This began before the 2019. Online shopping should be an option. We need our stores.
Here in Germany the situation is similar, although the reasons for this might be different. Germany had a lot of shops dying in the late 1980s and the 90s, because cities got subsidies by the state for rearranging city centers. The state incentivised cities to subsidize huge 'Kaufhäuser / department stores', which lead to the slow death of smaller shops and businesses. Then Amazon etc. became a thing and the huge department stores began their long illness, in many cases saved from bankruptcy time and again by huge payments of tax money. And then corona hit and with it came the insane lockdowns here in Germany and killed a huge part of what was still left.
Now we have dead city centers where all you can find are barber shops, food stores and 1-Euro stores mostly run by migrants, who can only afford to run those shops because they have established what can only be called a complete shadow economy. Seriously, the cash registers in those shops are usually open all the time and in many of them, one can only pay with cash and never gets a valid receipt, everyone who is not a complete ignoramus _knows_ those shops barely pay any taxes.
@@Furzkampfbomberat least you have that...
Yup Amazon has destroyed retail. This is it's business plan. Undercut the established businesses; minimise overheads and replace humans with automation. Oh! And don't pay any taxes.
Yeah immigrants not Bezos are to blame. Just like the old days! 🙄@@Furzkampfbomber
Landlords are going to face reckoning even outside china. They can't keep acting as thought their well located retail can draw as much today as they could yesterday. With the rise of ecommerce, that's just antiquated thinking.
Has worked for NYC for decades, I am sure they will be fine.
Don't be so optimistic. Look what happened to San Francisco, CA.@@rh906
I am back from Shanghai, the problem is that, there is too many malls, and there is new mall coming out, only the strongest mall survive , the only real crowd puller is one with Apple store , and some famous restaurant, and snack stall, the rest like clothing, furniture or what ever they're selling just don't bother , the staff is more than the customer, they can buy it online with a cheaper price
Thanks for on line shop less expenditure
Less worker
No more rental shop
Nomore bussiness permit
And other permit ro pay every year
What about the hospitals, clinics, office units and financial institutions, banks ?
@@prefixsuffix office building is still bustling with lights especially the one along the bund and lujiazui, the number 2 Subway as usual is crowded with office people during peak hour and fill with tourist and also the local , they like to dine around these area
So sad for the building owner 😔 for paying hi tax but no more renting on their unit because many bussiness es doing at home less high rent less expenditure less Labor to pay
In banking thanks for A.I. less clerk to pay
In hospital only the surgeon is more important no consultation needed because of A.I. doctor but in near future surgeon is not needed because of A.I. surgeon
Just like the Great Depression in the US 1930's....High unemloyment rate, less people has money to spend. They spend less on foods, they cut their own hairs, so supermarkets and barbershops don't have as much customers as it used to be.
I quit having my haircut professionally during Covid and I’m very happy because I have fine hair and most people would pull it trying to brush it out and it was an hour of driving and 55 bucks that I don’t need to waste when it only takes me five minutes to trim the length of my hair.
@@melissasmess2773 ,yes, I also learned how to cut my hair during Covid. save myself some mula.😃
Exactly. The Great Depression lasted a whole decade. I wonder if China will recover faster than that.
And much like the Great Depression, we're unlikely to ever learn the death toll from starvation.
@@melissasmess2773 FlowBee!!!!!!!! I've had one for near 30 years. It looks like you go a haircut LAST WEEK in the sense it's not making a perfect trim. Biggest "Wear" item is the plastic extensions. The resins in the plastic age out and the pieces turn brittle after a number of years.
SOme of it i think is with factories closing etc workers have moved back home. So all those stores have no consumers to buy their stuff. But all the footage ive seen is a severe lack of people, even the food stores. I wonder if this is also due to workers moving back home but also due to people that died of covid.
My partner is from mainland China, and knows Shanghai very well. I am reliably told therefore, that many of the places that this video claims to be shot in Shanghai are actually elsewhere in China.
Very true
What's the difference if it's in China?....
Those geo-political reasons stem from a combination many countries reacting to depending on China for most of their medical supplies, as well as the push from the CCP for foreign companies to get out. There's a notable relationship between the 'Made in China' tags, and the falling quality of those products, as inexpensive as they may be. Having cheap products that need to be replaced often doesn't compare to those same products made with better material and higher quality, which happen to last a great deal longer at those higher costs.
BINGO !!!! the chinese 'outsourced' quality control to the CONSUMER.
Pandaren products were always crap. Japanese and Koreans were too, but they at least have cultures (while very Pandaria-based, Japan wasn't even a civilization until around 500 AD) that allow change and innovation. The Pandas... not so much.
I bought 2 Chinese electric shavers off of Amazon. "Different" companies. The hinge and triple head were exactly the same. The hinge broke on both. Theoretically, I was still ahead of the game $$$$ wise compared to a name brand. But, I had enough. I went with a name brand. Made in China, but at least someone is paying attention to the quality control. I didn't lose money in those 2 Chinese shavers, but it was inconvenient.
yes, Germany used to make three stitched dress shirts, three times+ as expensive as those from China sold here in Canada. However they lasted one's entire life, like clothing washed over and over or those long lasting bought from Eddie Bauer.
I can really empathize with these poor business owners. There is nothing worse than feeling trapped in a downward spiral where you spend entire weeks running your store, only to come up short of money at the end of the month. Unfortunately, in such cases the best solution may often be to cut and run, just close down the business before it bleeds all one's assets and find employment elsewhere if possible. Even being unemployed is better than continuing to bleed money. It's sad, but sometimes you have to just give up, get out and do something else.
Maybe even leave the country.
The problem there when you have 100 - 300 million people try to do that, it causes ripple effects across the world. The horrible truth is that BECAUSE the state propped up bad policy for decades during their manufacturing boom, this decline is likely impossible to avoid and at a magnitude that will be written in the history books.
@@WhatWillYouFindtrue printing money like the weimar Republic did after wwi, certainly won't help the economy.
Sadly most retail businesses have long term leases and need to pay the rents whether they're profitable or not.
Chinese are now leaving the country through Ecuador heading to the US. They’re counting more or less 60,000 last yr.
Here in SEA its the opposite business is Booming foreigners are everywhere. Places that were only frequented by locals are now tourist hubs.
Seattle? 🤮
This is what happens when the property sector swallows all the wealth and people lose their life savings to groups like evergrand
Its now high time for the chinese govt to think his aggresions over disputed waters/islands in china sea,
Landlords are stubborn they think they can keep raising prices lol but the result is they get zero money a month instead of a reduced amount and this is what they would prefer in a classic cut nose off despite face tactic
Landlords probably paid top prices for their properties which in China have a limited leasehold until the ownership reverts back to the CCP.
The landlords have masters. They are called banks.
Man! I really feel for the Chinese people. They are suffering greatly because of their government’s bad policies!
Not difference to Germany, our communist government do everything that everyone getting poor beside them . We have the corrupted people in power .
Go therr and see the rral sutuation, its scam, those video is last year video, now situatiin is really good there
@@by98765: what world are you living in? There’s be numerous documentations of tofu dregg instances throughout China! Are you a little pink?
哈哈哈哈 我就是中国人，你们真的相信这种脑残视频吗😂😂
@@kensmith8152 i never heard of it, maybeits another scam, hahaha, i'm not chinese, i just been there 2 weeks ago, its what i see, there is so lively
This is a worldwide phenomenon. We have it in the US as well, the whole of the Americas and Europe too. London is the richest City in the world, yet they are having this same problem in areas.
For China and US, it’s different. China shops closed because of rent. US shops closed because of crime.
Europe is booming
Shops closed in Covent gardens. Also a few shops empty in Regant street and Oxford Street. Rents are just too high.
Honestly this is going on everywhere in the world. I went to SF a couple months ago and the Pier was pretty much completely empty at 5pm on a warm summer day. We're in a global economic slowdown.
SF is a sanctuary city exception. Cities in the South are thriving active cities. Er just went to a grocery store, health and vitamin store and nice restaurant all within 50 yards of each other, plentiful parking, no crime worries.
There are different reasons for San Francisco businesses shutting down. It has a lot to do with California’s decriminalizing of shoplifting. Also homeless people are driving away customers. Homeless people don’t spend money. . . Except on drugs.
I dont think anywhere else is quite as dire as China, though.
McDonald’s in the business area of San Francisco closed after 30 years because they no longer have enough walk in traffic, they have no drive-through so there’s definitely not many people working in the office buildings anymore. Another location in the tenderloin district is still doing well despite all of the crime and poop.
China is just in a worst state because foreign investors are slowly leaving due to bad politics/covid etc. China won't make it without foreign money, it's a ponzi scheme and this is slowly uncovering this fact
Blame it on Winnie the Pooh!
Winnie the Pooh
Winnie the Pooh
Tubby little cubby all stuffed with fluff
He's Winnie the Pooh
Winnie the Pooh
Willy nilly silly old bear
😂
From my point of view in Spain. October was very very bad, a drop of around 25% on turnover and November is looking worse. The same thing with people, they seem to have vanished. Shops, malls, streets all seem empty, so where are they???
Spain is empty?
Chinese buyers not very smart before. Prices were sometimes absurly high, especially the "mall tax" is crazy. It's the same here in the Philippines, let the online shopping destroy the unorganized little shops.
thank your Great Leader for this....
As the Chinese factories closed, so too did the retail districts which served their millions of employees. All of those now jobless Chinese have returned to their towns in villages, where at least there's a roof over their head with family and perhaps a garden or farm to keep them fed. People in those circumstances don't buy online- or offline.
Only the CCP leaders and officials have money, where are all ordinary chinese people money goes!
It's kinda amazing seeing McDonalds being just fine through all these hard times. They've gone through multiple recessions and depressions.
I think that it might be due to their commercial reputation (Like KFC or other US companies), the Chinese public are not confident about the ethics or quality of wholly Chinese companies. Same with Apple Iphones.
McD's...is a real estate holding enterprise..NOT a hamburger restaurant.
@@Nowhandlesthey need the real estate to make the burgers 🍔
@@Nowhandles That's not my point. My point is the restaurants still manage to garner a good amount of customer traffic throughout the ages. You rarely see a McDonalds franchisees go bust. Even in the United States. In fact in times of hardships(recessions) they actually start performing better.
Great branding and positioning. They do good at the nostalgic angle of reminding you of the burger you had when you are a kid and priced themselves at really affordable prices so you will feel good going when you have less money.
I live in Guangzhou. Which Guangzhou are you referring to? This is definitely not the city I live in.
Turn them into appartment, boost communial living for the elderly. Add botiques and sport center/gyms and day cares,salons resturants within single complex! This can repurpose retires into care givers and boost revenue for the state!
You think you have it bad?! At least you don't have druggies, transients, and tents along your sidewalks like San Francisco. Also shopkeepers get robbed, burglarized,& mugged by unidentified suspects who seldom go to jail. 😢 You're not alone!
EXACT same problem along the East Coat of the U.S. from NYC to Boston and beyond. And yes, with empty supermarkets and streets!
My wife learned how to cut my hair during the lock downs so kissed goodbye to my hair dresser.
I cut my own hair, good enough, the enemy of perfection!😂
I just got back from Guangzhou. definitely not 90%. where di you get the data from? beijing road (the main shopping district of the city) does not even have vacant space. still long queue at top restaurants. They are definitely slowing down but I think the exaggeration needs to stop.
What about the hospitals, clinics, office units and financial institutions, banks ? Anybody ?
I was there in September , yes Beijing rd was very busy,
@@philmcleod111 thanks for confirmation. Someone said shanghai was also fine except for certain parts.
Two aunties came into store took a Coca-Cola bottle out the fridge realised it was fake and put it back. One auntie said to the other she didn’t need another laxative that day. 😂
Same like NY and LA...major shop is closing down or reinforced to prevent zero dollar shopping.😅
More importantly.... HOW MANY PEOPLE ACTUALLY PASSED during the pandemic lockdown??? What's the REAL population ??
Now you are asking the right kind of questions.
Shops closed is one thing, streets devoid of any real traffic mid-day is another.
Not gonna be surprised to learn that their population is down by 60% or more.
What about the hospitals, clinics, office units and financial institutions, banks ?
I've been cutting my hair since the pandemic. I'm really good at it now so I don't need to go a barber anymore. I shop mostly online too because it's very convenient, easier to compare prices and a lot more choices.
Flowbee for me for the last 30 years. Not perfect but pretty close. I use Amazon constantly. I see nothing wrong with that as opposed to shopping at a country or international wide chain. Their backrooms are warehouses of brown boxes no different than Amazon. As if Kohls, Walmart + Target are shining lights of small business.,
I think offline markets have to compete online market, and struggle for surviving after nightmare pandemic.
How true are the videos here? Are these recent clips?
Outstanding reporting, thank you.
White wings going down
Tofu government... you get tofu rules. Then a tofu future.
Hahaha, this ia scam, u see those ppl still wearing mask, its covid situation last year, i just came back frim guangzhou and its really live, its full of ppl, the shops on the street almost all open doing business, their business is good, the crowd is there.
Answer is simple: The rich have gone oversea..the jobless has no money to spend. The poor is eating wind..👈🤣🤣🤣
Am in Shanghai right now, activity is down but 90% is a large exaggeration.
it must be a chinese propaganda then? i wonder what it is.
No one else to blame but the CCP.
Looks exactly like the downtown commercial areas of MANY cities in the US as well.
Block after block of empty retail space.
Here we blame on-line shopping.
Today i I was in food shop in my country in Europe. It was corner shop , only two women working there. They must work on checkout, fill the shelfs, looking for potential thieves, slice meat and cheese on counter,answer customer enquiry, probably take new goods. Basically employer will squeeze them for everything they have.
Can anyone from Shanghai or Guangzhou confirm this?
definitely not true. the celine shop they post seems like it's taken after hour.
Look all their video quality can pretty much confirm it's fake news. Everything is close u, footages all taken from various timezone and burry.
Love the breathes no sarcasm.
also less people becuase of
💉💉💉.
gone for good
salamat siyam
As things continue to get worse people will move back to their towns and villages people have to eat if the supermarket is empty it’s because people are leaving the cities because the work has gone
A city can be a trap sometimes. This one was a trap and many people have fled. Could this be one of the reasons?
how do we know the clips being shown here is recent?
Idk.. I was like maybe people online would want to buy something. Open up sales to a broader market. If they're losing money instead of gaining, closing down might be necessary.
This goes way deeper- people quit buying food and cigarettes?! Quit getting haircuts?! Tabacco addicts don’t cut back suddenly.. and hair doesn’t stop growing! Where have the people gone to?!?
Sad to hear hope it recover soon😮
Greedy landlords now have empty buildings LOL
Rent increase 💀
"All of the stores are closed. There's nobody on the street. Is business good?" I think you answered your own question.
Things are similar at nothern part of Brazil...
Please don't get confuse this channel present false / fake news.
Shops are closed during holiday, that is normal.
I live in Shanghai, don’t believe everything you see here, yes, consumer spending has decreased but no as alarming as they show here… I was at Nanjing pedestrian street last week, completely packed
I understand I see a lot of Chinese channels and anti Chinese channels mocking India and telling they r best , same I see a lot of western channels saying china is done for so everyone is throwing their propaganda puking all over the internet don't trust them.😑
"Cursed be every one that curseth thee, and blessed be every one that blesseth thee. " Genesis Chapter 27:29
This is how history proves it. For over 2,000 years, all the oppressors of Israel have disappeared into the dustbin of history.
China seems to be in a recession. I don't understand why supermarkets aren't selling food. Has online big tech also undercut them on food prices?
@geprge6977..china is fine.GDP growth this year is between 4% to 5%..
Factories are closed. No orders. Workforce moves back home. If people are leaving, there’s no one to shop at these markets.
Not necessarily. Typical Chinese go to supermarkets less often and buy less to save on expenses.
@@ragnarokjoe No it isn't. Even higher ups of the CCP admit GDP figures are made up. More like -5%, hence the deflation that's happening.
@@ronnelacido1711 Define “typical” Chinese? This is happening in China, not you local Kroger. How many years have you lived in China to know what’s “typical” to China?
There are empty streets in the US everywhere. Even in California, where I live have no one walking around. This isn’t just China
Royal we have closed shops too,CA,MO,TX,. We are moving around and I believe because of The Exodus the travel is stressing and new. Because Abba is in The Mist of His people
I believe that this is a result of better online retailers and food delivery services. It is about time that the property prices in China becomes realistic. Instead of benefiting few property fat cats, more residents of these cities are better off. Actually, this sounds like good news and improvements to me.
Where? Well 10s of millions died from CCOVID-29.
Just make a law that landlords lose the property when its empty for too long, that should lower rent and cut down greed
Sure, as long as government at all levels cuts back also and cuts taxes as well. That will cut down their greed.
There is no need for law to convince owners to either lower rent or default on bonds. The market is stronger than any such law.
It will be more convincing if there was a date and location confirmation.
Anyone that has spent time in china knows there insant many people on the streets during the day, Also this is an old vlog recreated useing AI
No-one is raising rents as stores and areas are being deserted (not for long anyway). That is stupid and false. You need to go back to economics 101.
Chinese aren't buying everything online. They simply are doing what the Japanese did after their extraordinary boom in the 70s-80s, not spending at all (except on necessities of course). The reason is fear (hoarding), massive debt and ridiculously overpriced assets ... which have been fed by the massive debt of course. If people do buy online, that offers many jobs in stock control, taking orders, packaging orders and delivering (delivery of course is key and there are always jobs available but they are badly underpaid and of course unpopular).
The Chinese, and many throughout Asian generally, are typically middle-men. They sell stuff and try to take the margin. Or they make stuff using dirt cheap labour. This makes them easily discarded, simply replaced and therefore always vulnerable. It's also not difficult to figure them out - why pay some Chinese middle-man so he makes money from simply buying cheap and selling at a higher price? Or paying some poor workers peanuts? Anyone can do that.
The whole "eight or tenth floor thing"? Anything above the ground floor and first floor is vulnerable. The higher you go the less people who go there. This is apparent all throughout Asia. Higher floors fail (except for nightclubs, restaurants, entertainment, gyms etc).
ECONOMICS 101: Everything will always return to the long-term mean over time. If you have a boom, it will eventually collapse, overcorrect then come back to the long-term average. EXCEPT if you have strongly boosted demand (eg: from immigration or whizz-bang new products for example) while continuing with static supply (eg: such as already built dwellings in western countries). Anyone confused by this only needs to take a look at Japan and Hong Kong since the 70s. Now it's China's turn. It would be Australia's turn next too ... BUT it has a massive immigration program in place due to the questionable Labor government and stagnant property availability. But eventually that will fall over too (arguably - because too much housing construction needs to happen and that is unlikely).
LATEST: China Observer has just enrolled in an economics course so it actually knows what it is doing.
An Achilles heel of the Chinese economy has historically been that it was extremely dependent on foreign trade as opposed to commerce from it's residents. Very different from the USA where the majority of it's economy is due to the buying power of it's residents. The USA depends less on foreign trade than China.
I feel so sad for these business owners! Very tough economic times worldwide.
I was in Guangzhou a few days ago. I have to queue for one hour and a half to get a table for dinner at a good restaurant(炳胜）, I have seen vibrant street phenomenon in almost every part of Guangzhou. So where is the lost of business, closure of shops ??? Please don't lie!!
the economy is doing bad but the military seems to be doing so well in china
They're cutting salaries, apparently
And this is why foreign money is not going to be spend there. You want the money to make military equipment to kill us after we buy your goods ? So I am paying you to kill me ? Makes sense. Hence reduction of trades and tourists....
This is what CCP doesn’t want. If the military and police can’t be given their salaries they will revolt
It doesn't make sense! Why do the rents increase when more businesses are closing down?
are this even pictures from oct.this year.??? Looks like empty streets while pandamic . Can anyone verify???
If this was during pandemic you should have seen people in PPE’s all over
Regent and Oxford streets were hectically busy yesterday. Mainly tourists though.
when its over, it is good and over. the ride was good, the total downfall will be hell. buckel up.
This issue is everywhere. Some are worst than others . Try the shops in Gaza.
Hard Times
Why does this video contradict the "night time guangzhou" or "night time shanghai" videos of crowded pedestrians and people enjoying their time out into the late of night (without fear of crime mind you)? Day time, people are mostly at work and rarely on the streets on a weekday, unless you're tourists or other reasons needing to commute. The weekends are packed and full of people at these very same stores. Every time that I visit those cities, it's crowded. Now whether retail sales have decreased, that's another topic.
Also, were those videos taken during the pandemic lockdowns or in recent months?
same thing here also in america, too many shops, store, businesses close already,😢😢😢😢😢😢😢😢
America ain't even close to this Or least the city I live in. Are pandemic times look 100x busier then the stores they are showing in this video today.
Thankfully my small town is still slogging along here in Arlington Or, with one small store, and a Mini Market/Gas station. Oh and a pizza place, and a restaurant that I have never seen...
New York is bustling woww... you must be living in town?
Judging by that comment and it's grammar it's safe to say that person is not in America 😂
English teacher 😭😭
My heart broke for these people when they were locked into their apartments during cv, and it breaks for these businesses now. Those neighborhoods look beautiful and clean, and I pray that they will learn to follow the promises of our Creator God in the Bible, and have salvation and revived prosperity in the name of Jesus Christ. I pray also for their leaders to know the Truth, for it will set them free, and they in turn will set the people free. Amen.
Seriously, is 90% accurate? Doesn’t pass the smell test. 😢
If there’s a smoke you can guarantee there’s a fire 🔥
They could try sell things outside without renting a building or stack your house or apartment with items your can sell on line.
(This is just an idea)
I don't know how e-commerce affects restaurants, food and vegetables stores. I assume everyone is just eating MacDonalds and KFC. Maybe everyone is leaving the cities and moving back to the country.
I assume they trust foreign brands over locals. Not contaminated with toxic chemicals or gutter oil that make them sick
In Panderia? They aren't fat Yankees, though I am sure they will eventually purge the ones that were infected with Western influence eventually to preserve harmony their culture has been built around for centuries.
That is what I thought too, that people trust the brands like McDonalds believing they have better quality controls because eating at these places is not cheap. I could spend 6 to 12 yuan on a meal in a local restaurant in the district I lived in in Guangzhou versus 45 to 50 yuan at McDs and KFC.
Food delivery
As a percentage of the population, hardly anybody in China eats at Mcd/KFC. If they don't eat out at a Chinese restaurant, they order cooked food or fresh vegetables/frozen meat/etc. on Meituan, the food delivery app.
Definetly nothing to do with infinitely increasing rent everywhere.. landlords are eating good while everyone else struggles cause people have to chose between place to live or going to barber.
Same as in US, but the difference is:
In China, people are walking without shopping.
In US, people are sleeping in tents.
Great job. you pick up newly opened areas, mornings, buildings to be put down and say 90% and the collapsing story once again.
We are finding the same in Africa
Really? That's odd.
@@foxtrot5160Why would it? China invests HEAVILY there.
In Europe things aren't much better either, although not to such an extent. Purchasing power massively decreased, so we can no longer to afford goods from China. If Europe is doing bad, Africa isn't doing well either, because the African diaspora who live in European countries can't afford to send money to their country, who cant buy things... This is a global problem.
Belt and Road is to CCP as is the Forrest Village to Ever grande.
Bankruptcy will mean North Korea life style is next
I feel bad for them. Don't understand how ecom is cheaper thou, shipping prizes inflate what you pay for the same prod in a physical store.
The same thing is happening in the USA If anyone doesn't know.
Metal Leo has a great video of the deserted downtown area of Sacramento California.
This is what happens whwn you import more natural raw materials from abroad vs products you actually produce for export .
Crematoriums are the only booming businesses, post arm-juice😮
And the fertilizer supply companies.
Hospitals, clinics too....
I have spent many happy hours here & this is terrifying, I remember these as busy vibrant cities.
Like the Great Depression of 1930s.
Poor understanding of history
theres a lot of supplies than demand in china...people invest in property hoping it will become profitable in the future but a lot of people doing the same thing theres no demand.( and a lot of building is destroyed) they've only left with debts to pay....you know chinese people are bussiness minded.. a lot of people doing bussiness but no customers because all of them is busy in their own bussinesses.. i guess those people who lost everything went to province and just plant their own food to survived..and some people change location to a place what they think would the next booming cities in the country...well i think the government need to do something...to balance everything out..