More bad news out of China as people lose everything the banks even want salaries back

More hard times in China as every where I look there are desperate times for the Chinese Peons. Even government workers have had the salaries cut or just not paid at all as even many of the local (call them states/provinces) do not have money to pay their people..

With businesses going bankrupt and owners drowning in debt, the banking sector is also facing financial challenges. In May 2023, a collective wage claim incident occurred at Shanghai Pudong Development Bank. And then at the end of the year, China Merchants Bank, one of China's leading commercial banks, initiated a 'reverse wage claim' from its employees. Is it possible that even such a prominent bank needs to ask employees for money to get by?]

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a reply to: 727Sky

Don't move to Xhina.
Not hard decision to make as they just suck the life outa ya.

I have been looking at the prices of some things I have bought directly from China in the past. I was wondering why the prices have not risen any where near the rate they have in the USA and some items have actually dropped in price. I think they are desperate for customers. The items I am looking into the prices of are specialty costumes and not something that would be popular to sell in a bad economy. Even the shipping charges have not really gone up.

Inflation in the USA is killing their buying power for unnessary items and China is feeling it bad as the biggest supplier of such items.

Edit: I have ordered a few tools, parts and electrical / electronic modules from China recently. Just some items to make life easier if things get really bad. The prices are really cheap but the quality is reasonable as expected to quite good. I don't thnk all the Chinese economy is terribly bad off but most luxury items are just not moving any more. I think the luxury items have a higher profit margin and therefore did bring more money to their economy.

a reply to: 727Sky

I didn't realize how bad it was there. I thought they were trying to or had already made their currency gold-backed and were trying to usurp America's role as petro-dollar.

a reply to: 727Sky

Why can't they just print more money?? I don't get it..

After all... this is how it all started... with printed money... actually it was gold and silver to begin with... when people put a value on it...

Anyway, just print more 'magic' money from those printing machines... problem solved.

Main content of the program:
Unemployment, Wage Arrears, Widespread Crisis, Chinese Workers Rise Up in Protests Everywhere
Shocking Scenes on Shenzhen Streets: Homelessness Rampant, China's Economic Collapse Looming
The epidemic in China is becoming increasingly severe in many places, with many cases of sudden death during sleep causing public panic
Fear of CCP Collapse Looms Over Zhongnanhai, Xi Jinping Mentions 'Self-Revolution' 12 Times in His Speech
Amid Unemployment Wave! The Role of 'Monkey King' Sought After by Chinese Youth
Severe gender imbalance in China: Men flock to Nepal to find brides

Main content of the program:
Unemployment, Wage Arrears, Widespread Crisis, Chinese Workers Rise Up in Protests Everywhere
Shocking Scenes on Shenzhen Streets: Homelessness Rampant, China's Economic Collapse Looming
The epidemic in China is becoming increasingly severe in many places, with many cases of sudden death during sleep causing public panic
Fear of CCP Collapse Looms Over Zhongnanhai, Xi Jinping Mentions 'Self-Revolution' 12 Times in His Speech
Amid Unemployment Wave! The Role of 'Monkey King' Sought After by Chinese Youth
Severe gender imbalance in China: Men flock to Nepal to find brides youtu.be...

a reply to: 727Sky

Yes, so it would seem. On the news today China basically sent an apology to Canada, but they phrased it as it was a shame that China and Canada were at odds. They must be desperate.

A former officer of the People's Liberation Navy has brought to light a shocking aspect of corruption in China's military: air force personnel using solid missile fuel for cooking traditional Chinese hotpot. This revelation comes after recent reports from the US intelligence claimed widespread graft in the Chinese military, including instances of missile fuel tanks being filled with water. Palki Sharma tells you more.

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a reply to: 727Sky

Yeah but that whistleblower left in 2016 so he is telling his truth of what was done around that time. There is no way of knowing if they are still short of supplies or not today. If China is planning a war with Taiwan does it not stand to reason they would be in preparation for that? Does not the fact that they haven't yet invaded Taiwan say more about whether or not they are prepared to do so?

a reply to: 727Sky

Well, that's what happens when your economy is a ponzi scheme. Yuan keeps falling against every other currency.

But they needed those showy ghost cities.




[Images from two of fifty ghost cities comprising over 64 million empty units]

China is a freaking joke.

Or flew too close to the sun in an attempt to show the world how prosperous they were.

CCP is run by little man syndrome.

I seem to remember China riding to everyones rescue in 2007/08 and splashing the cash around pretty good back then .

Maybe we should reciprocate and hire a million or two of their construction workers as their is plenty of them and fix the infustructure in the west that is falling apart badly .

The average yearly wage in the east is $5 to 7 k per annum throw in a tent city and some food , I seem to remember they were throwing a city the size of Boston up per month back then , but quality control would need to be done by westerners I am afraid as the only other way this is going to end is in a massive war .

They did come 8n pretty handy for building the railroads in America in the 1800s

a reply to: quintessentone

that economy has not improved if anything its gotten worse the top 2 construction/real estate companies would be considered in default closing in on bankruptcy in any other country.

Real estate makes up something like 43% of their economy, its going to be very very bad when they run out of money to prop things up. (personally thats when I think ww3 pops off)

you'd think this would be a bigger news story

I wonder if Chin is pressing the media to keep this quiet?

I feel bad for the working class, US or Chinese or wherever.

I wish a better government for them.

This should indeed be a bigger news story, but sadly it's the fact that Xi Jinping did the most stupid moves the same as what Biden did, and many state governors did, and the retard Trudeau did in Canada, same as Aus and many other western allies.

The MSM isn't going to shine a light on their own evil that matches the same bonehead brains in China who follow the man with only a 3rd grade education named Xi Jinping.. What they all did because of Covid, how it was used and abused, an excuse for power grabs everywhere, and the destruction (globally) of trillions in business worth. Mostly the small businesses.

a reply to: Coelacanth55

I would imagine that the full-blown social credit system would start in China with all the bells and whistles in place. With no money, they will have to get food from the state and that will be where the real control system starts. Good boys eat and bad boys get shot looting the food banks.

a reply to: 727Sky

Look`s like Winnie the pooh have really screved everything there , interesting story 727Sky .

originally posted by: annonentity
a reply to: Coelacanth55

, they will have to get food from the state

It's been like that in China since 1949.

Doesn't the USA owe China a LOT of money? What happens if China calls in their chips?