Lawrence Person's BattleSwarm Blog 2/28/2023
It turns out that having your ruling party alienate the entire world with a genetically engineered plague, rampant human rights abuse and widespread intellectual property theft is not conducive to continued economic success. Who knew?
Hence comes the hashtag #SaveTheBoss, i.e. the company needs to survive to save jobs. I assume there’s more than a little irony to the tag, given how badly conditions suck in so many Chinese factories.
Takeaways:
• “In the first half of 2022, 460,000 companies announced their closure, and 3.1 million self-employed people have canceled their business.”
• “It’s hard to be a boss this year. All industries are in decline. In order to maintain the factory, profits have to be squeezed and squeezed. Many have even accepted orders with zero profit outright. The purpose is simply to keep the cash flowing.”
• “According to data released by China’s General Administration of Customs, China’s exports fell 9.9 percent year on year in December 2022, widening the decline from 8.7 percent in November and marking the biggest drop since February 2020.” And those are the official numbers. It’s almost certainly worse.
• “The once congested roads in this major terminal in Guangdong Province, and also in the Pearl River delta region, are now empty. Trucks are parked all over the parking lot, reflecting how depressed the foreign trade export industry is.”
• “The Chinese government is carefully covering up the situation of its major economic regression, so it isn’t easy to tell from the statistics how serious the situation is.” But employers think it’s really bad.
Here’s a hint: Your crooked commie rulers acted like the biggest jerks in the world and everybody got tired of it. You reap what you sow…
More:
https://www.battleswarmblog.com/?p=54242https://www.youtube.com/watch?v=4zQPpOGD6f4
