Faced with many difficulties, China's economy may decelerate sharply

[Viva_vietnamm]

Expensive housing creates a generation that is afraid to marry and have children in China​

• 16/10/2021 19:17 (GMT+7)

Rising house prices directly affect the happiness of today's young generation. They cannot get married, are afraid to consume, and are afraid to have children. High housing prices are destroying the dreams and future plans of many young Chinese.

Many young people admit that they have just graduated from university, but they have the mentality of a middle-aged person. "Like a married person, I plan in detail for firewood, oil, fish sauce, and salt. Too much material pressure makes me unable to enjoy a romantic life or take care of my soul." one person shared on QQ. Rising house prices directly affect the happiness of today's young generation. They dare not marry, consume or have children. These are serious social problems.

Many young Chinese have to carry a lot of economic pressure on their backs, unable to buy houses.

Heavy burdens

In 1998, China's real estate, education and medical services were fully marketed. As a result, the housing area of many families has been greatly improved. The prosperity of the real estate industry and investment in infrastructure has led to a remarkable development for the country's economy of billions of people. However, the biggest limitation is that real estate, education and medical services no longer support low-income groups. The consequences of high housing prices are gradually revealing, affecting a whole generation of young people.

The first price to pay is that more and more young people are not getting married. Since 2011, the marriage rate in China has been on a downward trend, and the number of people getting divorced is increasing. The big cause of this trend is the deep gap between rich and poor due to rising housing prices. Even if a man in the countryside wants to get married, he must have an apartment or a row of motels in the town, otherwise the matchmaker will not care about them, the women will also remove them from the list.

Not only do you have to have a house and a car, but when you get married, you also have to have a large wedding, many poor young men are gradually losing the ability to get married. In big cities, housing prices are sky high, urban youth must have support from their parents to be able to buy a house and get married. Big brother 2 Many young people give up their dream of buying a house because of high prices. Due to the economic burden, China's younger generation hesitates to have children. Since 2016, the government has removed the one-child policy and allowed couples to have two children. However, the birth rate is falling sharply, from 17.56 million babies in 2017 to 11 million this year.

Many experts encourage families to have three children to improve this number, but the cost of raising one child is too high, ordinary families cannot afford. Scholars say that the declining trend in birth rates cannot be changed. During the "14th Five-Year Plan" period (2021-2025), China's population may experience negative growth. High housing prices also make couples hesitate to have more children. If they have a second child, the current housing area does not guarantee living space for the children, while wanting to change to a larger apartment is beyond their means. Most people born in the 1970s-1980s are burdened with debt to buy a house, so they don't have much money to spare. Meanwhile, young people born in the 1990s are stuck with consumer loans - they've even given up on the idea of buying a home.


According to QQ, housing, education and health services - which are related to people's livelihoods - should not be fully marketed. It is necessary to control and support low-income groups to access their housing needs.

Nhà đất đắt đỏ tạo nên thế hệ ngại kết hôn, sợ có con ở Trung Quốc

Giá nhà tăng cao ảnh hưởng trực tiếp đến hạnh phúc của thế hệ trẻ ngày nay. Họ không thể kết hôn, ngại tiêu dùng và sợ sinh con.

zingnews.vn

​

 

[xizhimen]

The Op author seems to know nothing about China and just use his personal assumption. actually house ownership among young people in China is the highest in the world, over 70% while in US its below 20%. If this can be used for talking pressure in life, US could be the worst. All Chinese have handsome savings in the bank which can help them to tide over in difficult times, its not true for Americans.

 

[Viva_vietnamm]

The Op author seems to know nothing about China and just use his personal assumption. actually house ownership among young people in China is the highest in the world, over 70% while in US its below 20%. If this can be used for talking pressure in life, US could be the worst. All Chinese have handsome savings in the bank which can help them to tide over in difficult times, its not true for Americans.

But u can't deny that Since 2011, the marriage rate in China has been on a downward trend, and the number of people getting divorced is increasing. CN's birth rate is also dropping bcs living cost, housing price are to high in CN.

 

[xizhimen]

But u can't deny that Since 2011, the marriage rate in China has been on a downward trend, and the number of people getting divorced is increasing. CN's birth rate is also dropping bcs living cost, housing price are to high in CN.

I didn't deny it, but China has a huge population base, it won't affect China much, China always has more population than most countries.

 

[Viva_vietnamm]

China’s power crisis: in export showroom Yiwu, some businesses wonder if they’ll survive​

• Many factories in Chinese export hub Yiwu, Zhejiang province, have been forced to cut production because of power rationing
• As factories close, China’s supply chains, barely recovered from the Covid-19 pandemic last year, are being challenged again

Luna Sun
+ FOLLOW
Published: 6:00am, 27 Oct, 2021

Exporters in Yiwu, dubbed China’s manufacturing showroom, are feeling the effects of the country’s current power crisis. Illustration: Perry Tse
Usually full of bustling stalls showcasing everything from Christmas decorations to machine parts, China’s famed Yiwu International Trade Market is operating at a much slower pace today.
Escalators and air-conditioning have stopped working inside the sprawling 4-million-square-metre (43 million square feet) complex, and store owners, starved of business thanks to the coronavirus pandemic, snooze in their shops amid the stifling heat.
Yiwu, dubbed China’s manufacturing showroom, was hard hit by the coronavirus pandemic, with travel restrictions leaving foreign buyers unable to visit the trade-dependent city.
But now, it faces a new challenge: power rationing triggered by a crippling electricity crunch that has affected swathes of the world’s No 2 economy.


Not far from the market, in Yiwu’s industrial estates, factory owners fret about more disruptions to production amid the drone of generators, running around the clock to keep the machines running.
China’s power crisis: why is it happening, how bad is it?
10 Oct 2021


“It feels like people have no way of making a living,” said He Meiling, who owns a packaging factory in Yiwu that is only operating at half capacity due to power restrictions.

“The market is messed up, very messed up. Raw material prices have skyrocketed, workers’ wages keep increasing and rent is going up, like the price of everything else, but production is restricted and our earnings are shrinking.


“It looks like a dead end.”

As factories close and production slows, China’s extensive supply chains, barely recovered from the onslaught of the Covid-19 pandemic last year, are once again unravelling, causing supply bottlenecks and shortages.

Reduced production capacity and rising raw material costs have forced He to stop taking urgent orders. The price of PVC alone has increased by more than 50 per cent in the past year, while the diesel needed to run generators is too expensive, she said.

Small businesses like mine might not be able to surviveHe Meiling​

As her profits have been squeezed, the Yiwu businesswoman has become increasingly worried about the fate of her company.

“Small businesses like mine might not be able to survive,” she said.
“If a new policy comes out by the end of this month saying things won’t change for a while, I will have to lay off workers. I won’t be able to afford them.”

Even for factories that have pushed on with the help of diesel-guzzling generators, business has been difficult.
Yiwu resident Ding Anding, whose two siblings own factories manufacturing socks and scarves, respectively, said both of their operations were “bleeding a little” because of the power crisis.

Chinese manufacturing thrown into disarray as country's electricity crisis rolls on​

“Although they are both using power generators to keep up production, they can’t operate 24/7 like factories used to because of the noise,” he said. “They have to stop working at night if they are near residential areas, or people will complain.”

Because factories cannot work without electricity, unlike retailers in Yiwu who can put up without air-conditioning, factory jobs are being cut.
In Yuhuan, a county-level city also in southeastern Zhejiang province, factories have reduced production to two or three days a week, but many employees are working 15-hour days to deal with the backlog of orders.

Yao Xiangmin, who is employed in a car parts factory, said his income had been slashed by at least 40 per cent.
“If I don’t work overtime, I make no money,” said Yao, after finishing a gruelling shift at midnight. “There’s nothing I can do, I can only hope that things get back to normal soon.”

Barely able to pay his mortgage, he and other workers have started looking for new jobs.
For many small businesses in Zhejiang province, the power crisis is adding to a string of existing cost pressures that have buffeted China’s manufacturing sector since the pandemic began.
With travel constrained by Covid-related lockdowns and social distancing, Lu Aisu’s suitcase company has seen demand fall off a cliff. Rising raw material costs and power rationing have only added to the pain.
Lu, who has run the business with her husband for three decades, has watched other companies go bankrupt over the past two years – and desperately hopes she is not next.
“Everyone is going through a difficult time,” said Lu, surrounded by suitcases in her store at Yiwu International Trade Market.

China’s famed Yiwu International Trade Market has looked a shadow of its former self since the pandemic hit. Photo: Luna Sun

“Consumers have less money to spend, we sell fewer goods and the factories receive fewer orders, so production goes down. We are all just trying to survive, while hoping things will get better.”
But the power crisis has not affected businesses equally. Different areas have different rations and bigger companies generally fare better than small ones.
Large companies like SANY Heavy Industry, a multinational heavy equipment manufacturer, have been relatively unaffected.

Li Liangjian, general manager of the firm’s intelligent manufacturing division in Beijing, said their factory in the capital region has adapted operations at night to avoid peak power consumption.
“Much of our production is at night, since the robot will not get tired or be emotional,” he said. “On some occasions we even don’t have to turn on the lights, so we put [production] at night, trying not to compete with the household electricity consumption.”


But many small companies have not been so well prepared. Many firms have complained about poor communication and a lack of notification around power outages.
Unannounced power cuts caught Yiwu textile manufacturer Huang Feng by surprise.
Huang, who makes mid to high-end hats, scarves and other accessories, had expected to complete production and ship his goods overseas before the “golden week” holiday at the start of the month. But due to the power cuts, his production was delayed several days and he missed a shipping cycle, resulting in losses of more than 100,000 yuan (US$15,600).
“The policy came all of sudden at the end of September; we were all completely unprepared, the power cuts were implemented on the day we were notified,” Huang said.

It’s reshuffling the market and washing out the small businesses selling at low pricesHuang Feng​

“We would have been able to prepare for it with even just a little heads up and wouldn’t have had such a big loss.”
Still, as a bigger company with a network of factories across the country, including several in provinces that have been unaffected by power outages, Huang’s losses have been manageable and his business has been able to adapt.
In contrast, smaller and more labour-intensive businesses with slimmer profit margins have been the most susceptible to cost pressures.
“I think essentially this is not a bad thing,” Huang said, referring to the power cuts.
“It’s reshuffling the market and washing out the small businesses selling at low prices and disrupting the market.

Livelihoods in peril as darkness falls over China’s manufacturing hub

Many factories in Chinese export hub Yiwu have been forced to cut production because of a crippling power crunch that has rocked the world’s No 2 economy.

www.scmp.com

 

[xizhimen]

China's industrial profits, exports and surplus hit the record high every passing month.
Cry me a river. Lol

 

[Saithan]

They're saying the same about Turkey, but the people aren't getting any benefits from the export.

I didn't know that Vietnamese workers in China were cheaper than China's own workers. But such is the consequences of wealth.

China rations diesel amid fuel shortages

It is likely to contribute to the global supply chain crisis and inflation, analysts told the BBC.

www.bbc.com

 

[xizhimen]

They're saying the same about Turkey, but the people aren't getting any benefits from the export.

I didn't know that Vietnamese workers in China were cheaper than China's own workers. But such is the consequences of wealth.

China rations diesel amid fuel shortages

It is likely to contribute to the global supply chain crisis and inflation, analysts told the BBC.

www.bbc.com

BBC also says China has masive blackouts and power outages, the truth is it happened in some isolated regions and it's nowhere close to a nationwide concern, UK itself and whole Europe also have severe power shortage problems this year worse than China's, so do many other countries .

Their ploy is finding some local and isolated problems in some companies and factories China,which are common in every country, and blowing them out of proportion, making people believe it's happening all over China, depicting a doomsday picture thus strengthening their decades old China collapsing theory.

As for how China's overall economy and trade fare, we have new data coming out every passing month. but of course the westn media never cares about facts and figures.

 

[Viva_vietnamm]

They're saying the same about Turkey, but the people aren't getting any benefits from the export.

True, most of Chinese aren't getting any benefits from the export, it only help rich CNese become richer while poor CNese become hopeless with their income had been slashed by at least 40 per cent now.

Not mentioning China has over 600 million people whose monthly income is barely 1,000 yuan (USD 140) and their lives have further been affected by the coronavirus pandemic, Premier Li Keqiang said

I didn't know that Vietnamese workers in China were cheaper than China's own workers. But such is the consequences of wealth.

Yes, bcs CN GDP per capita is $10,000 while VN's one is $2,800. But factories in CN still using CN workers bcs CN govrment forces the bosses to use CN workers to avoid a very high unemployment rate (could be 40% ).

----------------------
But what Trump is doing now is making everyone panic, especially the smaller firms,” Zhou added.

Companies are also fearful of growing hostility from local governments in China, should they announce their plans to relocate. Officials do not want to lose the tax revenue, nor the employment the factories bring to local communities.

“I invested 3 million yuan (US$436,140) with a partner in 2017 to rent a 2,400-square-metre factory in Thu Dau Mot City, in the Binh Duong province of Vietnam, transferring four production queues and recruiting 80 workers there. The rent was already 22 yuan (US$3.20) per square metre and has now gone up to 28 yuan,” Zhou said.

“At that time, the economic atmosphere in China was still very good, and everyone was eager to expand investment. The local government in Dongguan was relatively relaxed and supportive of us relocating production to Vietnam. Now, several friends of mine are planning to move. Their costs will be definitely much higher than they were in 2017. Moreover, the local [Dongguan] government is not as nice as it used to be.”

“Procedures are now strictly enforced by the local government in Dongguan,” Zhou added. “If you do not pay a large compensation package to make up for workers’ social security fees and other taxes, they will not let you move the machinery and equipment.”

Chinese companies moving to Vietnam keep quiet on trade war to avoid wrath of authorities and staff

Chinese state media may have launched a fierce propaganda campaign, placing the blame for the trade war squarely at the feet of the US government. Interviews reveal that many factory owners and operators feel that they are caught in the middle of forceful rhetoric from both sides in the trade...

sg.news.yahoo.com

 

[GoatsMilk]

Please start separate threads for any insecurities and questions related to India and the US - don't derail this thread.

I added the communist troll to ignore a while ago. The forum is much better for it.

 

[xizhimen]

CN govrment forces the bosses to use CN workers to avoid a very high unemployment rate (could be 40% ).

40% unemployment in China....LOl, do you know what you are talking about？

 

[Saithan]

40% unemployment in China....LOl, do you know what you are talking about？

It's the same in Turkey.

People who are unemployed are only registered if they are looking for work. But if they are not looking for work then they are not registered as unemployed.

If your country's economy is so bad that people give up on looking for work, and just try to start their own little farm to survive and such then these people will not be registered.

Anyone with a sound mind would know that these people are doing this because of survival and not because they don't want work.

I imagine that China has a better grasp on their population, like having a database on people, able bodied humans who can work from the age of 18-60. If these people are working then the box is ticked.

If they are not working, why ?

Did they start their own business, registered a company etc. or are they unemployed.

Every country should be able to keep track of their population to solve underlying issues in the country.

There is a reason why the term homeless exists, they are people who have fallen out from the system, no home, no tax, nothing.

 

[xizhimen]

It's the same in Turkey.

People who are unemployed are only registered if they are looking for work. But if they are not looking for work then they are not registered as unemployed.

If your country's economy is so bad that people give up on looking for work, and just try to start their own little farm to survive and such then these people will not be registered.

Anyone with a sound mind would know that these people are doing this because of survival and not because they don't want work.

I imagine that China has a better grasp on their population, like having a database on people, able bodied humans who can work from the age of 18-60. If these people are working then the box is ticked.

If they are not working, why ?

Did they start their own business, registered a company etc. or are they unemployed.

Every country should be able to keep track of their population to solve underlying issues in the country.

There is a reason why the term homeless exists, they are people who have fallen out from the system, no home, no tax, nothing.

China does have some labor shortage problems because now low skill service jobs like delivery offer more money and flexible time, and the pandemic made China the only country that functions normally to provide for the world, thus the overseas orders to the Chinese factories keep surging to a new high every day, this unexpected situation caused some acute labor shortage and electricity crunch in some regions, China tries different approaches like AI, automation to alleviation this pressure.

'We can hardly find any workers' – Chinese factories suffer labor shortage

COVID concerns are adding to China's battle to attract workers, leaving doubts about how it will meet worldwide manufacturing demands.

globebanner.com

 

[Viva_vietnamm]

40% unemployment in China....LOl, do you know what you are talking about？

Thats what SCMP said, why u dare not sue them if its wrong ??

---------
Yao Xiangmin, who is employed in a car parts factory, said his income had been slashed by at least 40 per cent.
“If I don’t work overtime, I make no money,” said Yao, after finishing a gruelling shift at midnight. “There’s nothing I can do, I can only hope that things get back to normal soon.”

 

[Viva_vietnamm]

China does have some labor shortage problems

Thats not labor shortage problems ,I explained already, its bcs CN bosses don't wanna pay 1000 usd per month for CN workers while they only need to pay 430 usd per month to VN workers.

And those factories still saty in CN bcs CN govt forces them to stay, not bcs the bosses wanna stay, they wanna quit CN now.

 

[Viva_vietnamm]

It's the same in Turkey.

People who are unemployed are only registered if they are looking for work. But if they are not looking for work then they are not registered as unemployed.

If your country's economy is so bad that people give up on looking for work, and just try to start their own little farm to survive and such then these people will not be registered.

Anyone with a sound mind would know that these people are doing this because of survival and not because they don't want work.

I imagine that China has a better grasp on their population, like having a database on people, able bodied humans who can work from the age of 18-60. If these people are working then the box is ticked.

If they are not working, why ?

Did they start their own business, registered a company etc. or are they unemployed.

Every country should be able to keep track of their population to solve underlying issues in the country.

There is a reason why the term homeless exists, they are people who have fallen out from the system, no home, no tax, nothing.

in CN, when u are farmers, then you will be considered still employed , even when u only earn from 3 usd to 5 usd per day, thats why China has over 600 million people whose monthly income is barely 1,000 yuan (USD 140) and their lives have further been affected by the coronavirus pandemic, Premier Li Keqiang said

China has over 600 million poor with $140 monthly income: Premier Li Keqiang - CNBC TV18

Business News: Get the latest Business News, Live Share & Stock Market Updates, Top News from India and across world. Read Top Business News and updates on financial, economic and banking news on CNBCTV18.

www.cnbctv18.com

 

[xizhimen]

Thats not labor shortage problems ,I explained already, its bcs CN bosses don't wanna pay 1000 usd per month for CN workers while they only need to pay 430 usd per month to VN workers.

And those factories still saty in CN bcs CN govt forces them to stay, not bcs the bosses wanna stay, they wanna quit CN now.

Who are you, the guy who claims 40% of China's unemployment rate and China depends on Vietnamese workers? You are just a joke, don't expect people to take you seriously.

 

[xizhimen]

Thats what SCMP said, why u dare not sue them if its wrong ??

---------
Yao Xiangmin, who is employed in a car parts factory, said his income had been slashed by at least 40 per cent.
“If I don’t work overtime, I make no money,” said Yao, after finishing a gruelling shift at midnight. “There’s nothing I can do, I can only hope that things get back to normal soon.”

His income being slashed? so if someone's income increased 400% in China, you believe China's average income increased 400%? if you have a brain, use it.

 

[xizhimen]

in CN, when u are farmers, then you will be considered still employed , even when u only earn from 3 usd to 5 usd per day, thats why China has over 600 million people whose monthly income is barely 1,000 yuan (USD 140) and their lives have further been affected by the coronavirus pandemic, Premier Li Keqiang said

Li keqiang said " disposable income" , in US it can be negative. They borrow and spend the money they haven't learned.

 

[Saithan]

How does China keep track of their unemployed people ?