But Evergrande is not the only one strugglingEvergrande is just one single privately owned company, private sector itself all together doesn't affect much on mostly state owned industries of China. Same as Huawei and Alibaba and Tecent and Tik tok, China has so many these private companies. I know from Vietnam's perspective they may look massive, but they are nothing comparing to state companies in China.
List of largest Chinese companies
List of largest Chinese companies - Wikipedia
en.wikipedia.org
They can report whatever they want, Xi's assasination, China's wide spread severe food shortage, 3 Gorges Dam imminent cllapse... they can enjoy reporting them, won't affect us a bit at all.But Evergrande is not the only one struggling
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However, "Evergrande is not the only one struggling," noted Christina Zhu, an economist at Moody's Analytics. Over the last few days, a slew of other developers have disclosed their own cash flow issues, asking lenders for more time to repay them or warning of potential defaults.
In a recent report, Zhu wrote that 12 Chinese real estate firms defaulted on bond payments totalling about 19.2 billion yuan (nearly $4 billion) in the first half of the year.
"This accounted for near 20 per cent of total corporate bond defaults in the first six months of the year, the highest across all sectors" in mainland China, she added.
And the truth still is CN economy is falling, not raising as u guys keep bragging day after day, or something so wrong in CN socieaty ( hundred millions CNese don't have enough money to buy house and raise kids) making birth rate keep falling .
Lybia, Argentina started falling when their GDP per capita was from $10,000 to $12,000 bcs they failed to make high tech stuff like CN .LoL, Of course China's economy is falling , it's been falling for 4 decades already.
LoL, Of course China's economy is falling , it's been falling for 4 decades already. China is falling, it's always falling,Vietnam is always rising, happy now?
Any predictions abt CN fall before CN reach $10,000 are just jokes.
China is faling, is falling, is falling....
So ??
www.dw.com
LoL, What does this city have anything to do with China? are you being deseperate?
This is Buenos Aires , look morden and rich..but Argentina is still in mega debt now. She has same problem wt CN when reaching $10,000 GDP per capia when can not make any good high tech stuff.
So, what job u can do to get 1,000 USD per month to survive in third or fourth tier city in China as CN GDP per capita is $10,000 ?? food delivery again...and again and still 35 year old = Unemployable??
www.scmp.com
This is true everywhere, in Vietnam bosses like to hire older people? you just become more and more desperate to prove that China is collapsing. China has been collapsing for at least 4 decades, many even wrote many books about it in the past several decades, so, what's new?So, what job u can do to get 1,000 USD per month to survive in third or fourth tier city in China as CN GDP per capita is $10,000 ?? food delivery again...and again and still 35 year old = Unemployable??
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Coronavirus leaves China’s over-35s with uncertain job prospects
- Amid a tough job market, Chinese jobseekers above age 35 are feeling increasingly insecure about their future
- Many firms are seen as favouring young and energetic graduates in China, where age discrimination is not illegal
Age discrimination in China makes a 35th birthday feel like a curse
Scores of job ads in China are imposing age limits of 35, leaving many workers nearing middle age feeling insecure about their employment prospects during the pandemic.
In VN, we still hire workers, sanitation workers, drivers even when they are 40, specially sanitation workers. can be at 50, as long as they can do the jobs bcs salaries in VN is just from 200 USD to 450 USD per month, not 1,000 USD like CN.
Lol, don't you know any Chinese who are at 35 without a job? I personally don't know any.
Those two are someone you know? I personally don't know any.David Huang
“I’m almost 50. Am I going to look for jobs? No. There’s nothing for me out there. Finding jobs is too difficult,” Huang said. “Just look at how bad business is in those clothing retail shops in Guangzhou, you will get an idea how bad wholesaling and manufacturing garments is at the moment.”
On Zhihu, China’s version of the American question and answer website Quora, a discussion thread called “How does a 40-year-old unemployed individual live on?” has clocked up more than 27 million views since 2019. In post after post, users share their frustration about trying to find work in their middle age.
And the situation only appears to have deteriorated with the pandemic.
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Tang Ying, 36, has found herself in the grips of insomnia and depression lately while grappling with the possibility of losing her job as a front desk administrative employee at a small tech firm in Guangzhou.
The past year has been a nightmare for Tang: her marriage fell apart and she contracted tuberculosis, an infectious disease affecting lungs.
When she went back to her job after recovering, the company gave her more work than usual, something she perceived to mean they wanted her to quit.
Many places only want people under 35. I have been battling with this thought a lot
Tang Ying
Yet, she has stayed on, concerned her lack of a university degree will mean she is unable to find work elsewhere.
“I’m scared. I don’t have confidence in sending out resumes,” said Tang, who worked at a call centre as a customer service operator previously.
“Many places only want people under 35. I have been battling with this thought a lot. All I think of is trying to hold on to this job.”
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A graduate school degree and work experience for some of the nation’s biggest tech companies does not necessarily give you an edge either, said 38-year-old Jim Yang, whose position as a former salesman at telecoms giant Huawei was ended by the firm three years ago.
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As a consequence, nearly half of the job applicants above 35 fell from middle or high-income groups to low income because their earnings had dropped, according to the study.
More than 70 per cent said they face pressure meeting mortgage payments and other costs, such as children’s education and medical bills. The study also estimated a third of them could only survive at current spending levels for 3 months.
Age discrimination is illegal in many countries, but not in China, which is facing a rapidly ageing population and shrinking workforce after more than three decades of the one-child policy.
Coronavirus leaves China’s over-35s with uncertain job prospects
For some Chinese workers, celebrating their 35th birthday is starting to feel like a curse. Amid the frenzied competition for jobs stirred up by the economic impact of the pandemic, a growing number of employment ads are imposing age limits of 35 – leaving many Chinese nearing middle age feeling...sg.style.yahoo.com
Master's dergee in China is ridiculed for being a motorbike taxi driver
zingnews.vn
Master degree may mean a lot in Vietnam, but means nothing in China, where almost every young person goes to college. this is called the power of education.
