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Translated by: MOS Gospel Team – Lilian H
On March 28th, several media reported that the economy continues to decline in Communist China with defaulted migrant workers’ wages, frequent layoffs by industry giants, and several real estate companies declaring bankruptcy.
On March 25th, a social media online post exposed that during the construction of the mobile cabin hospital in Jilin Province, the workers were provided with a very bad living environment throughout the construction process, and several workers were infected with the CCP Virus. After the hospital was built, the workers were not paid with promised wages immediately.
This is not the first time that this has happened in Communist China. When the Vulcan Mountain Hospital was built in Wuhan in February 2020, it was already revealed that workers were not paid, and that there was a complete lack of safety measures to ensure the workers’ lives.
On the other hand, on March 28th, following last week’s rumors of substantial layoffs at Tencent and Alibaba, e-commerce giant JD and online video giant Bilibili, were also reported to be laying off significant numbers of workers. It’s been less than four years since JD boss Liu Qiangdong said he would “never fire any of his brothers” in 2018.
On the same day, the Chinese Ministry of Finance’s Beijing Supervisory Bureau asked to prevent local governments from issuing bonds that exceed the local debt limit, suggesting that local debt has exceeded Beijing’s expectations. Communist China economy mainly relied on the real estate market, however according to statistics, over 100 real estate companies have already filed for bankruptcy in just the first quarter of this year. Observers point out that news of unpaid wages, layoffs and bankruptcies are emerging, suggesting that Communist China’s economy is not as bright and shiny as it is officially claimed to be; but rather, as Miles Guo analyzes, on the verge of total collapse.
Proofread / Edited by: Laura L
Chief Editor: Saturn M, Moon G
Posted by: FreedomKat
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