China’s Economic Nightmare: More Businesses and Shops Close, “Professional Closure Agent” Emerge
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- čas přidán 8. 06. 2024
- Reports indicate that the closure chain operates in three main stages. The initial stage involves individuals known in industry jargon as ground dogs, who find struggling business owners, assess the feasibility of a safe closure, handle project sourcing, business acquisition, and financial investigation. The mid-stage involves intermediary agencies finding suitable debt bearers and handling the dog license procedures, which is finding a professional debt bearer. The final stage involves gatekeepers who maintain false operations before the closure, with some stores even promoting sales the day before to gather final funds. Once the client is disentangled from the store, the closure is officially announced.
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10 milk tea shops doing "okay" but someone comes and says "i will be the 11th and do better" when all of them are racing to the bottom using the same ingredients, then they wonder why the market declines.
Lucky grandfather say it not rain everyday!
good point
Just like coffee shops here in thailand.
Patriotism of Winnie PorkPooh
China 🇨🇳 has been a money-printing machine on overdrive.
During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times.
- It has printed more money than the US and Japan combined, while it's economy is only half of them.
- Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg.
- With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters.
daughter: lives in US brother: australian green card daughter in law: british green card sister: canadian citizen brother in law: canadian citizen second sister: australian green card second brother in law: australian green card
Organ Leeks #sloprosperity #theskydontlie
Patriotism of Winnie Pork
China 🇨🇳 has been a money-printing machine on overdrive.
During the years 1990-2021, the US printed 6.5 time more money while China printed 147 times.
- It has printed more money than the US and Japan combined, while it's economy is only half of them.
- Current Chinese debt-to-gdp is already highest in the world, at 300%, according to Bloomberg.
- With stimulus and measures, China's debt will be at 400% to 500% of its GDP in the next decade, according to Reuters.
daughter: lives in US
brother: australian green card
daughter in law: british green card
sister: canadian citizen
brother in law: canadian citizen
second sister: australian green card
second brother in law: australian green card
Org-a-n Leeks #sloprosperity #theskydontlie
Chinese citizen realizing their economy's finances are all being poured to military and not back to its economy
Compared with the US, China's situation is better
I live in Shanghai city center. Saying that businesses are going under would be a MASSIVE understatement. In my neighborhood alone (one of the richest in China) you cannot throw a stone without hitting a "for lease" sign. Complete BUILDINGS and MALLS have closed. It's crazy.
depends. there's always new places opening. the popular ones get visited and the old ones become obsolete. there's too many malls and nice malls tbh. I was just in Shanghai a few days ago.
This is what I noticed. Shanghai is quiet. It feels like more old people there than young. I suspect they are locals. I wouldn't be surprised overall more are closed than open but I could make a video showing Shanghai busy and prosperous OR make a video showing closed down shops depending on what narrative I want to project. Sometimes a whole block could have closed down shops because the space is earmark for future demolition and construction of something else more profitable(new mall? new apartment?)
I believe most young people are in cheaper cities as Shanghai is considered expensive. Hangzhou was booming. So many young people and old retirees as well. Chengdu was another city that was booming with young people.
I live in europe and me and my entire family are making efforts to avoid any Chinese products.
what seems to be the cause of the closures?
This is what happens when there is an absence of Rule of Law .
Oh yes, still much better than zero cost shipping in USA.
Yeah unfortunately worse things happen daily where I’m from - USA
Shop and restaurant closures have been rampant across China due to weak domestic demand. Life is brutal when the Chinese economy struggles and growth is sluggish. To make matters worse, the property collapse really dissuades consumers from frittering away money on their comfort food or clothes.
Life in the rural China is wonderful, But Chinese cities are still worth visiting.
Been out in SE Asia as a working expat since 2001 and have been saying for the past 15 years, China is doomed to fail; to the laughter of many, but they ain't laughing now and have finally acknowledged I was right all along.
You were wrong for 22 years. In this time other made billions.
@@llothar68 Lolz. Did I say I've never made money betting on China? Of course I have. Bought Russia,China, India in 2002 when none of you even knew what Bric meant.
The smart money is long gone out of China. You obviously haven't been out here and bloviating from a couch.
Are you a Chinese "bot", " while other made billions", nice English. You know where those people are? The corrupt select Chinese hiding in places like Vancouver, NY, London, Paris et al...
@@llothar68 Lolz, never said I've never made money betting on China. Notice the dates of my comments? 2009. Been out here since 2001. Knew what BRIC(s) meant long brefore couch warriors like you.
Chinese bot perhaps? "In this time other made billions", nice English.
Needless to say, you had the last laugh.
_'We are renegotiating our lease. Be right back.'_ - yoga studio
_'We tried to contact the studio and they're gone'._ - landlord
_'Yoga studio is unreachable.'_ - the government
_'I'm the new owner of WHAT?!'_ - country bumpkin
Failing to pay rent and wages is bad, but failing to pay state-mandated social insurance payments (pension, medical insurance, unemployment insurance, work-related injury insurance, maternity insurance, and housing fund) is a death sentence. An employer's contribution to finance those is 33.8% of each employee's wage.
Good. Let's all help the Chinese out by reducing purchases of any Made-in-China products whenever humanely possible!
agreed
Already doing that when I can. A of crap is still made there though
It’s next to impossible without lowering quality of life 😅 who wants to give up buying new phones/computers?
"Sued by her best friend."
- China's Society at its finest. 🤣🤣🤣
If your best friend owes you $1 million and you're unemployed, I doubt you won't be trying to get your money back.
@@user-ll9qk2el4d A friend shouldn't be lending that sort of money in the first place. It's the easiest way to ruin a friendship as this situation no doubt has.
@@regwatson2017 I agree with you that it is not a good policy. Nevertheless, if you are truly a friend, then you are responsible to pay back the money you borrowed. You personal difficulties shouldn't let you off the hook.
@@user-ll9qk2el4d Totally agree there !
that is the breakdown of economy and finances more than anything. Both are tryjng to survive.
China's deflation
How do you fail in yoga business?
Zero physical assets. All staff on commission. You're literally selling air.
Marketing and rent
This is really sad, and seems it is across the whole of China.
CCP killed their economy with their NSL
It's actually heartbreaking.
XI started a pandemic he took no responsibility for, started a real estate Ponzi scheme (that he took no responsibility for), claimed all of the South China Sea, continues to use and abuse its trade relationships, and then decided to back Putin genocide in Ukraine. What the hell did people expect to happen ? China is uninvestible.
Kamal Yoga - 'So long, and thanks for all the fish ... suckers'
It's so scummy that the stores kept pushing courses etc before they closed. They business did nothing to stop this from happening. Looks like everyone except the top people lost out on large amount of wages and fees!!!
it is not just Kamal Yoga Business Concept is closing, rather every such Business Concept for self-improvement, Beauty Saloon and Personal Care Concept Enterprises, etc. etc. within PRChina have no future .. as Chinese Wealthy & Chinese Middle-Class Citizens are afraid to spend or already fled the country to immigrate elsewhere. Ordinary Chinese folks are struggling to survive, where would be interested to spend precious Yuan, for such social gatherings and activities ... it is honker down the hatches to survive the the impending Economic Storm. The activities engaged are those typical LaoMa step-dancing on Streets and Gardens .. all free of charge !.
Its alright, eat bitter and go farming - Xi
Note this is the same policy Mao pushed which lead to terrible economy until Deng Xiaoping allowed open trade again. Please note CN wa historically a trade powerhouse until CCP took over
And go live in a cave.
There is an only so far you can push the public and I think they’re way past that point in my opinion. There is a saying that they will no longer be able to walk down the street.
Cold theft.
Damn, such a cheap business to run and start up, failing.
*GUARANTEED* that the problem was *GREED N' CORRUPTION !¡! ¡!¡ !¡!*
What the Mafia calls a "bust-out" operation.
How does a dirt poor elderly person become a "professional debt bearer"? What's actually going on over there? How can that be legal? I hope they are at least getting a cut of that filthy money, but I suspect they have no idea of their new professions.
Easy. They get paid little. These folks, usually elderly rural people, have nothing to lose. So what if they’re blacked listed and get crummy credit. Won’t affect their lives.
they think i can die anytime so why not
Why are there 10 shops selling the same milk tea , right next to each other
WTF is a big deal on these matter ? Hundreds restaurants & shops closing very month in Hong Kong and US......
Hong Kong is CCP
What a nightmare of a country.
Is the sob because of cheap products with bugs no longer available in the west?
The American coffee shops should take heed. And the cup cake shops, cookies, cinnamon rolls Malls manufacturing.
how would 5 tea shops in a row work?
Kamal yoga..suddenly closed all members and suppliers lost money
"NOT SUPRISE " Chinese government, companies people's they are all same
XXXX XXX
Yoga fire, Yoga flame. All burned away...
DHALISIM RZEFERENCZEw
This is directly on xi and his cronies
250,000 shops closed down ..BUT they were a 2 person operation as shown.Minor lil shops, on a walk way never any parking I find it surprizing that they could remain ope so long..but with 2 billion consumers tiny shops seem to prosper as walk bys, AS l;ong as the systemcould prevail. and this CCP system is now totally breaking down.
The banks woulnt take their money, so they invested in real estate, buying 2,3 apts in YET to be built 25, 35 story tall buildings?? investments that should have been worthwhile. Then The largest real estate company Evergreen falls down due to really bad sham, bribes, kick backs, concerete needs to cure for 3~~5 weeks... they had people moving in after one week of cure? This was the problem with that lotus island group of man made islands onthe island off the continent..They had DUMPED furture materials along side the aptmt shells, and the people THMESELVES found out how bad the tofu seaweed infrastructure had been made of seaweed..bricks, and rebar, MADE OF SEAWEED ?
And the chinese people ppay theprice.NOthing left..The .02% of the richest quick group have already left the COUNTRY being stopped by customs of US AUS and other paces for tryingto bring $2.5 MILLION in large suicases. only $10K allowed? and at least AUs does confiscate the extra cash in cases, cus it Is against their laws. whew ~!~!
It's going down, down, down, down...
Look at the mirror! The global depression is coming. No country is doing good now. Not a single one!!!
I feel sorry for them bt as a country, I couldn't care less.
Thanks.
Take the money and run
The true winners are the farmers now.
Can't eat that red paper (rmb) nowadays.
I feel for the people with such bad leadership up top (much like here)
Black market using the elderly and gamblers to bear the debts. Elderly deadbeat thrown in jail? That's 3 hots and a cot for a peasant.
More Rice Field work is available now 🇨🇳
That's not manual labour anymore
I laugh because im over 32 years living in south america, low class in society XD many people crying because they cant get what they wanted??? Here is daily life XD (and I laugh more because, we are the ones who support those demons, we as a society... We deserve what we have)
U nas też,wszystko ma swoje granice, zostały poprostu przekroczone.
If one comes to look any shopping meils in Europe, the situation is the same. Ha, ha.😂
China’s first big modern economic boom lasted so long with just a few hiccups, that people automatically think closure equals fraud. Sometimes it just means a business was poorly managed. When economies slow these fail first.
That business of closing other businesses is a rip-off 😂
The biggest customer for the professional closure agents will be the Chinese government. Hopefully the business will come very soon.
I wonder if yoga is more popular than qigong now in China
Closure agencies= helping scammers to scam better
1 man's fault
To prepay 10,000 CNY is certainly a lot. This must be a wealthy minority.
Why should a yoga place get VC money in the first place. It sounds like it was a scam from the start
Are Brothels Closing ???, Then That Would Be An Indicator Of A Bad Economy.
Obviously, but brothels aren't legal in China
China doesnt have much brothels. Its not in their culture i guess
Yoga is as yoga does, there's no in between; you're either with it on the ball, or you've blown the scene.
So sad 😅😅😅
Yes, Running away 💨💨💨💨 😂
Still lying after all these years.
Big leap backwards now?
Wow what a great job xi jing ping is doing. Maybe next time put someone in charge with more than a fifth grade education 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Downward facing tofu yoga
Only in China…
Guess what? Did you know that you can do yoga at home! That's right! Yoga in your own house!🙀 AMAZING!
Well that is what you get when you want greed and power 😂🖕🏼
Kudo to you and all the actors👍🏽
Damn china
The title of this vid is China’s Economic Nightmare: More Businesses and Shops close down...
It should instead be: Kamal Yoga Studio closes down. I lasted until 6:30 and the narrator was still only talking about the fucking Kamal Yoga Studio...
Pink girl 79
"Late stage capitalism" with Chinese characteristics. 😂
Most people are employed in small businesses. It doesn’t look good!
Compare number of stores close in the US ...is nothing.
Who keeps working without being paid for 3 months?
I don't know if this CZcams channel a little bit biased or not. And whatever information he provides is it latest or not?😊
If it’s not biased, how long can it sustain on CZcams? This is just one of many globalist propaganda. If you check its videos, you will see their support for immigration, free trade, feminism, authoritarianism and of course, CCP.
You can see from the comments of those who have visited are validating its claims
@@seraph3761 probably bots
Their society isn't ready for things like yoga centres. Sort out the basics first.
Not surprised how thoroughly the chinese government/society makes its citizens grab ankles...what do you expect from a communist regime 🤣🤣
Vote for Trump. China was doing great until Biden came along. Support China, vote MAGA and Trump.
Sounds bad. Hope they're okay. Almost as bad as Bidenomics.
Back it up with data oh you can’t. You’re not even a American
China needs U$D in their financial markets
🙌🗽💸💰💱🤑💲💵🤗
AUNTIES OF CHINA HELP BRING BACK THE RYTHMIC CULTURE OF KUNG-FU; ADD STEPS TO YOUR DANCE THAT EQUAL THE DYNASTIES OF CHINAs EXISTENCE. AUNTIES OF CHINA LEAD YOUR PEOPLE BACK TO THE HARMONIOUS RYTHMIC STEPS OF THE CONNECTION TO THE UNIVERSE. AUNTIES OF CHINA HELP INSPIRE AND NURTURE THE LOVE NEEDED FOR THE PEOPLE OF CHINA TO ATTAIN THE DEDICATION REQUIRED TO FIND LOST STEPS OF CHINAs CULTURE
lol Asians don't know the sounds the english letters make
some tea shops and a yoga gym? are you kidding me? i hate commies , but come on you cant be serious with 3 tea shops and a yoga gym in the entire China and make a video, i would laugh at you if i would be XI and see your youtube video.
The yoga business was a major chain.
Daily self fantasy day dreaming ownself said ownself happy deepfakes AI propaganda channel.
Now say that in English, and not the bad Mandarin to English dictionary Xi gave you.
There goes the Lap dog.
@@ric6074 Oh wow. you must be getting two grains of rice instead of the one grain for Xi to make you actually respond with a dime-a-dozen insult.
A country with foreign military troops and foreign military bases is not a sovereign country.
Sorry don't like the narrators accent.
you didn't 2x the vid? I don't notice much accent at that speed.
Welcome to Capitalism.
Go rice farm 🇨🇳
Another common Communism L
Capitalism with Xinnie the Pooh characteristics.
Not capitalism but fraudulent business!!
Welcome to idiotic communist policies.
CZcams putting ads every 3 minutes. Use ad blockers
Pink girl 79