Nation-Wide Salary Cuts! Industry Declines, Unpaid Wages, and Layoffs Sweep Through China
Nation-Wide Salary Cuts! Industry Declines, Unpaid Wages, and Layoffs Sweep Through China
Udumbara
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Taiwanese author and current affairs commentator Fan Zhou, who has been doing business in China for twenty years, compared the Chinese economy to a patient with multiple organ failure. He stated that the problems are interlinked and beyond remedy. Fan Zhou predicted that the Chinese economy would not survive beyond two years, suggesting that 2025 would be a critical point for the Chinese Communist Party. If the economy collapses, the central government's control over local governments would diminish, leading to a wave of displaced people. Many middle-class Chinese are already willing to spend tens of thousands of dollars to move to the United States. Those without the means to emigrate to Western countries might flood into Southeast Asia, Taiwan, and Japan, potentially creating a significant black swan event.
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