Massive Store Closures & Unemployment in Shanghai and Shenzhen. The Great Depression Strikes China
Massive Store Closures & Unemployment in Shanghai and Shenzhen. The Great Depression Strikes China
Udumbara
Massive Store Closures & Unemployment in Shanghai and Shenzhen. The Great Depression Strikes China
On June 1st, Douyin blogger Sun Zhaoyue posted a video titled "Depression in Shenzhen and Shanghai". In the video, he talked about two incidents. First, he had a meal with an old colleague at Hong Kong Plaza on Huaihai Road, Shanghai. To his surprise, the usually bustling intersection was devoid of people. The second incident occurred during a business trip to Shenzhen. He and his colleague took a Didi taxi to Futian District for a meal. The driver commented, "Shenzhen is finished. Look at this place in Futian where you're going for a meal. It used to be bright and bustling from 11 pm to 1 am, with many people out and about. Do you know that now by 10 pm, there's hardly anyone around?" As Sun and his colleague wondered, "When will this end?", he felt that it was just the beginning.
