A series of problems such as the decline in imports and exports in mainland China, rising unemployment, intensifying debt crisis, deteriorating economic environment, and the withdrawal of foreign capital have led to a slowdown in China’s economic growth. (Johannes Eisele/AFP)
[The Epoch Times, December 31, 2023](Epoch Times reporter Li Xi’s interview and report) In 2023, the mainland’s economy was affected by the withdrawal of foreign investment, the collapse of real estate companies, and the overall economic sluggishness. The CCP’s local finances shrank. Many people shouted that it was hard to find a job!
Mr. Yan, a Fuzhou citizen who has long been paying attention to China’s economy and investing in the stock and exchange markets, said that the economy will get worse day by day in the future, and he is ready to continue to tighten his belt and live a better life!
Consumption is the primary driving force for economic growth. When people’s consumption decreases, it means a decrease in income. There are fewer and fewer people consuming food in some small farmers’ markets and large chain supermarkets. “Recently, when I went to Yonghui Supermarket in the evening, there were very few people. I asked the clerk why there were so few people? He said that there were fewer and fewer people, the economy was frozen, and purchasing power was getting lower and lower. Yonghui Supermarket is also now there Collection, some stores have already closed it down.”
“I judge that because all the migrant workers have gone back, and migrant workers are mainly engaged in decoration, the real estate industry is in recession, and their jobs are gone, so they all go back, and consumption will naturally become sluggish. Fuzhou is a little better, and Guangzhou, Dongguan, It should be more serious in Shenzhen, the Yangtze River Delta, and the Pearl River Delta, where there are many industries and many factories have closed down,” he said.
Housing market bubble leaves migrant workers unemployed
Mr. Yan said, “There are also reports in the media. I asked some friends from various places and asked them whether many local factories have collapsed, whether many people have lost their jobs, and whether housing prices have fallen sharply? Their answers They all said: “Yes, it’s all like this. The economy is getting worse and worse, the number of unemployed people is increasing, more and more shops are closing, and more and more people cannot afford to pay their mortgages in the real estate market.”
He said, “Nowadays, many young people have cut off their mortgages. Some people cannot afford to pay their mortgages and have jumped off the building because of this. It is very sad! You can see on the Internet that there are more and more foreclosed houses in the courts, which have increased several times. This is what I Data seen with my own eyes. This is just the beginning, and there will be more in the future. Now the housing prices have almost halved, and they will fall again, because the housing market bubble is too big!”
Recently, Mr. Li from Shaanxi Province, who is engaged in decoration electrician, told the Epoch Times reporter, “Now decoration electricians have no work to do and can’t find a job. Because many real estate companies have closed down now, and there are very few people who want houses. Now there are very few people who decorate, and only a few There are some jobs that you can’t get paid for.
He said, “There will be less and less work in May and June this year, and even less so in winter. It won’t be possible after May and June. There is no other way, and we can’t find work for other jobs. Now basically all jobs in the country are available.” It’s very hard to find, a lot of restaurants are closed, and there are a lot of unemployed people.”
The wave of pay cuts and layoffs for civil servants in China continues to expand, and the CCP is facing a financial crisis. In the past, everyone knew that the CCP’s stability maintenance funds exceeded military spending, but recently, in addition to salary cuts for civil servants, stability maintenance funds have also been compressed.
A dissident in Yixing, Jiangsu, told an Epoch Times reporter, “I was detained during the Asian Games for stability maintenance. When we were chatting, the political and security personnel said they didn’t know where their salary would be next month. The government is very stingy in everything it does now, and there is not enough funding for stability maintenance. Already.”
Ms. Yan from Hangzhou recently told an Epoch Times reporter, “It is true that civil servants are reducing their salaries. Once when I was chatting with street workers, they said that they can no longer pay wages. The land cannot be sold, and foreign companies have withdrawn. The government is out of money!”
“There are fewer and fewer people in Hangzhou, and houses cannot be rented out. The worst thing is that those who buy houses have to repay their mortgages every month. It’s not easy anyway.”
Mr. Yan said, “Foreign trade, consumption, and infrastructure, the troika that drives the economy, have all stalled. The economies of Europe and the United States and the Chinese Communist Party have gradually decoupled. Domestic demand is sluggish, and next year is expected to be even more tragic!”
Editor in charge: Gao Jing#
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2023-12-31 19:17:58
