Most Chinese factories in 2023, due to way less orders and needing to clear out their over inventory, had to cut their margins dramatically. thus, more shipped out, but making way less. They won't be able to do that in 2024, with factory shutdowns due to no margins and no more inventory. and that's why:
- China’s youth unemployment rate hit consecutive record highs in recent months. From April to June, the jobless rate for 16- to 24-year-olds reached 20.4%, 20.8% and 21.3% respectively
- Chinese stock market has dropped 11% this year, with 3 year cumulative loss of 6 trillion in 3 years https://www.cnn.com/2024/01/23/investing/china-stock-market-...
- Chinese economy is suffering from deflation
- China’s youth unemployment rate hit consecutive record highs in recent months. From April to June, the jobless rate for 16- to 24-year-olds reached 20.4%, 20.8% and 21.3% respectively