1.3 Million People Flee to Vietnam, China Is Now Facing Its Largest Unemployment Push in History

1.3 Million People Flee to Vietnam, China Is Now Facing Its Largest Unemployment Push in History

1.3 Million People Flee to Vietnam, China Is Now Facing Its Largest Unemployment Push in History

Low-income Chinese are already moving to Vietnam for work, with 1.3 million people not planning to come back. The economy is declining, with three years of pandemic and gradual decoupling from the West. Everyone is experiencing difficulties from large enterprises to small storefronts. Japan's Toshiba urgently evacuates 33 factories from China to Vietnam, resulting in 400,000 job losses. 600,000 people in Shanghai, Shenzhen, and Dongguan can't find jobs In Dongguan, five major Apple supplier factories experience a lack of orders, leading to the closure of three facilities and potential unemployment for 120,000 individuals. Across the country, 4.6 million factories have no orders, resulting in widespread distress. China is now facing its largest unemployment wave in history.