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wholemodern | 1 year ago

It's typically on Chinese social media apps, and when they get popular they get taken down immediately by the government

here are some remnants in non-chinese websites.

http://www.xinhuanet.com/fortune/2023-06/26/c_1129716071.htm

https://botanwang.com/articles/202308/%E4%B8%AD%E5%9B%BD%E5%...

https://www.voachinese.com/a/more-chinese-white-collar-worke...

if you want to verify secondary effects: Retail sales of passenger cars in China declined to 1.095 million units, down 21% from a year earlier and 46% from January. https://www.wsj.com/business/autos/chinas-vehicle-sales-drop.... A decline of real estate development investment widened to 9.5% in the first quarter from 9% in the first two months https://www.bloomberg.com/news/articles/2024-04-16/china-hom... Stingy Chinese shoppers are returning their goods, erasing up to 75% of their sales value.https://fortune.com/asia/2024/04/17/luxury-brands-new-headac...

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nradov|1 year ago

Popping the residential real estate investment bubble was probably the root cause behind the collapse in sales of cars, luxury goods, and other consumer products. A lot of consumers who had made highly leveraged investments on unoccupied apartments in "ghost cities" were sitting on significant paper wealth for a few years and felt comfortable spending money. Now that has largely evaporated.