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90% Of Chinese Factories To Close?

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Elderberry:
Lawrence Person's BattleSwarm Blog 4/27/2024

It turns out that unleashing a deadly engineered plague on the world, bellicose posturing, currency manipulation, intellectual property theft, treaty breaking, and genocidal actions against ethnic minorities isn’t a recipe for winning friends and influencing people.

Who knew?

Evidently not Xi Jingping, as under his leadership, it looks like some 90% of Chinese factories will close due to lack of business.

•  “My factory closed down, ended up losing over 10 million.” I’m assuming that’s Yuan.

•  “China continues to face a harsh winter, with reportedly 90% of factories either closing down or falling into difficulties.”

•  Factories that has been in business and profitable for 15 years got walloped by Flu Manchu in 2020. “After the outbreak, the factory started and stopped production intermittently, basically losing money for a year. Unexpectedly, the following three years were worse.”

•  “At the start of the year, there were almost no new orders. The old customers who used to order every month also significantly reduced their orders. The entire industry had fewer orders than during the 3 years of the epidemic.”

•  This lead to “severe competition within the industry this year to get orders. Besides low profits, customers also demanded goods to be made before payment.”

•  “In the second half of 2023, he was basically just chasing payments. Many customers were withholding final payments, and his factory had long run out of operational funds. During this period, he had already mortgaged his house in Shinjin for business loans. For these three years, his factory had been barely surviving on loans, and he didn’t know when it would all end. Recently he’s been exhausted, so he decided to shut” everything down.

More: https://www.battleswarmblog.com/?p=57882


https://www.youtube.com/watch?v=A0FyqCEfD0E

banddag:
I have noticed a huge difference in "Made in China" items on the shelf.  Way less than a few years ago. Now it is Vietnam, Cambodia, India

catfish1957:
Don't know what level of truth there is to this, but losing 90% of your industrial base, could easily be a triggering mechanism for a world wide economic meltdown. 

I alway thought it would be self inflicted by us via debt accrual, but who knows now.

Hoodat:

--- Quote from: Elderberry on April 27, 2024, 10:59:37 pm ---Who knew?

Evidently not Xi Jingping, as under his leadership, it looks like some 90% of Chinese factories will close due to lack of business.

--- End quote ---

So not only does government interference with businesses by picking winners and losers here in the US end in failure, that same principle ends in failure in China as well.  This should be a great economic lesson for everyone.  GET THE FEDERAL GOVERNMENT THE HELL OUT OF THE WAY!!!

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