China's PPP should reduce in half this year. It has seen massive layoffs from every industry (average 22% decline in revenue across all industries). It has seen 50% reduction in wages, even in stable positions like government offices. It has seen unpaid wages for anywhere from a few months up to a year!!
This is reinforced by 50% in price cuts in real estate listings in tier 1 cities, 10X increase in real estate inventory this year, and 90% physical retail decline
This is reinforced by 50% in price cuts in real estate listings in tier 1 cities, 10X increase in real estate inventory this year, and 90% physical retail decline
China’s Latest Source of Unrest: Unpaid ‘Zero Covid’ Workers https://www.nytimes.com/2023/01/16/world/asia/china-covid-pr...
China's Industrial profits in the January-March period declined 21.4% from a year earlier https://www.bloomberg.com/news/articles/2023-04-27/china-s-i...