China’s Biggest Industrial Base Collapses: 14M Flee, Empty Homes Everywhere, Only Bears Remain
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As China’s economy continues to deteriorate, businesses across sectors are struggling and consumers are cutting back on spending. The Chinese Communist Party has promoted the “revitalization of the Northeast” for more than 20 years, but local residents say it has been “just a slogan.” They say the region’s economy has now collapsed, with many areas becoming “ghost towns,” resembling the “Great Northern Wilderness” of the past.
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