$0.40 Beef, $0.80 Stir-Fry! Chinese Can Barely Afford It! Huge Deflation, Economic Collapse Begins
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- Опубликовано: 22 авг 2024
- In recent news from rural markets in Shandong, China, a trend known as the "100-yuan challenge" has gained significant traction. This challenge involves customers spending only 100 yuan at the market stalls and in return, the vendors arrange a feast according to the number of people present. The aim is to provide customers with a satisfying and abundant meal at an incredibly low cost.
#chinaobserver
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.40 for "beef", hmmmm, Press X to doubt lol.
It may be Long Pork. The crematoriums are still working overtime and at overcapacity, the bodies don't get fully cremated...
So like, 1 IKEA Meatball?
X lol
X
@@xhagastlong pork ?
It sounds to me like wages have fallen much faster than prices. Also, there has been a large increase in the number of unemployed people with little or no income. The reason many businesses are forced to drastically cut prices or go out of business is a large part of the Chinese population are so poor that they cannot buy much of anything. The cololapse in wages and the massive increase in unemplyment is what forces prices down.
When the spending money of the people severely drops, they cut out discretionary spending. However, they can’t cut out essentials. Non-essentials like luxury goods are forced to drop prices to encourage purchases, but essentials can raise their prices to forcibly increase short-term profits because people cannot easily stop essential purchases.
It’s a vicious spiral. The people are too poor to spend, and businesses aren’t earning enough profits from spending to stay open. Supply is way higher than demand for most goods, meaning that there’s a surplus and prices should drop to encourage demand. However, because the people are too poor to spend even with discounts, businesses have to look elsewhere for customers.
That's it, deflation means that people simply can't afford the normal price of items so businesses have to take cuts in order to sell their stocks and keep running, which leads to smaller margins and profits, salaries cut, employees being fired or entire businesses simply shutting down, as a consequence of these there is even less money going around, people become even poorer so businesses have to lower the prices again and so on and so on, unlike inflation that can be fought by the government through raising interest rates to tighten the monetary supply, deflation is a never ending spiral towards widespread poverty.
It’s funny how this is happening in the USA as we speak but you will NEVER see reporting on that 😂
the problem is that the rent for businesses is still sky high tho, if rents decreased it would be much easier for the business owners
I would never eat chiness food in China!! Gutter oil, plastics....no way!!!
Especially if a meal is like 30 cents. In China it's possible to get food that's actually food, it being more expensive means there's at least a possibility that it's OK to eat. At the super low end, it's a lot more likely to be shady.
Well, that's the sad/terrifying thing:
In China, you can't get a plane ticket, a train ticket, or any other form of long-distance travel without government approval... assuming that you could even travel somewhere in China where the food isn't likely to be straight-up literal garbage.
Assuming that you even have the cash to buy actual food, the next hurdle would be FINDING actual food to buy within 25, 50, or 100+ miles... before you starve to death.
Life in America is neither easy or a joking matter right now, but it is definitely nowhere close to the waking, pollution-smothered nightmare of being a Chinese citizen.
Chinese are divided. The ones eating clean, high-quality food and drinking tea at dim sum restaurants. Then there are those with restaurant violations and gutter oil. The elites and the common fodder.
Tofu dreg Foods in China 🤣😂🤣😂
@@gbottle0521
It's starting to sound like their construction materials are more edible than their groceries.
I lived in China for 18 years. Stopped eating Chinese food after 5 years. Disgusting. Too many visits to the hospital and days off work sick.
You had to eat something, how did you get decent food for the remaining 13 years?
@AbbyJamison-xs1iq I stuck with food from import supermarkets, Japanese food, and learned how to cook at home. I had to make sure everything I bought was sealed in plastic for freshness because I noticed a lot of Chinese shoppers licking and handling food with their dirty fingers. the foreign owned bars and Japanese restaurants also had high standards of hygiene
Westerners not used to Chinese crap food will suffer terribly over there.
@@oscargrainger2962 Certainly, yes. I would roughly estimate that around 90% of foreigners I met in China refused to eat Chinese food. However, the Xinijang food was quite nice.
Cap 🧢 bro did not live in china 😂 just look at your recent comments, every one of them have a different story directed to hate on china
Yeah.... when a deal is too good to be true it is indeed too good to be true. How many corners need to be cut for this to happen.
how many corners to become chilagon?
Congrats Xi!
I called this months ago. It's the worst possible scenario. Inflation in necessities and deflation in discretionary goods. The higher prices in necessities is crushing discretionary items even more.
Economies run off discretionary purchases.
Communists are well known to be financially illiterate.
China inflation your head! China's living standard is so cheap, heaven for expatriates! Usd 1 you can get a decent large meal, cheap transportation....
America has, likewise, been experiencing a dramatic economic downturn (massive inflation, currency wildly devaluing, basic goods doubling or tripling in price, etcetera). Considering the dementia-afflicted head our current administration's buddy-buddy relationship with the absolute monsters heading the CCCP, and equal levels of both hostilities and criminal negligence towards the populations they're supposed to be aiding? No surprises at all, from my perspective.
I called this in 2013 when I lived in China and drove through cities that had never been populated with people and were already collapsing.
This is what we call biting the hand that feeds you, then you end up in this mess
Damn, how can they even afford to stay open at these prices. Makes you question where the ingredients come from too.
They cant
They can make it because fake poisoned & old oil
& a few painted meats! With a lot of seasoning over spoiled milk!
It's so scary to buy Chinese products and brands... Never Again!
Better to be scared, did u see the car made of china ev from Huawei suddenly burned
@@johnmarkrobinson2924when will it explode though
We in the West also need to just stop buying, the high prices are a joke, and we, the consumers, need to bring these greedy companies back into line by forcing them lower prices, if they don't leave them with their stock.
I have and a lot of people have. I only buy the basics; veggies, meat, bread. I bought a bottle of vitamin C to prevent scurvy. We don't go out anymore and since I work from home we don't have to use the car as much. I've actually been able to save money. I'm sitting on 5k of emergency funds right now. I will be able to pay off my debts by the end of this year and that's it. I'm not going to spend anything until this bullshit stops. Join the spreading silent protest!
It's happening with EVs
It's happening.
That's the thing. Companies are protected and insured against any thing we can do. They'll get bailed out and then reinforced with our own tax dollars- then do it again. Just as a reminder to show us who's boss. We need to get rid of their shields first. The lobbyists, congressmen and senators that have investments in them, you know. The people who allowed this to happen. Because for some reason, Walmart gets kickbacks funded by taxes, to employ people who pay taxes, but not pay them enough, so they need Medicaid and SNAP which is funded by taxes. Like damn. It's insanity.
@@cuysalthats because noone with a brain cell left will buy a EV when they ask 30/50 grand for basically a worse version of cars that came out 20 years ago, just because its electric doesnt mean you can blow up the price, if they went to hydrogen the prices would be the exact same BUT wouldnt require 10 hours a day charging, get rid of EV and focus on Hydrogen
Eating flavored cardboard🤣
Ironically cardboard would be healthier then the chemicals they use 😂
@@weebygg It's a little funny but also sad
😂
90% discounted meat in china! I would be afraid what kind of meat that is.
...Or better yet..."who"...now days. (Just saying...just saying...)
I'll rather eat the rat beef not the 60 yrs old meat.
Mass depopulation has a deflationary, effect. 💯
Yep! Is it less shopping by the living or dead.
#crashperity #theskydontlie
I heard america is getting I think hundreds of thousands of Chinese illegal immigrants
I wish the US had deflation. Instead everything keeps rising forever
China is willing to work for less to survive while US workers refuses to work at all. This is why there’s a difference
Man if I didn’t know the hotpot was gutter oil, I’d think the 3 yuan beef was a steal
If nobody pays for their debts, nobody has debts
yeah thats not how it works buddy :) banks will always get their money one way or another :D
@@kevindebont attempting to draw blood from a stone is an exercise in futility
That's how you get an economic crash and then no country wants to trade with you
@@kevindebont Then explain why banks fail?
Would a hungry dog eat it? If not do not eat it. It looks like food but its deadly.
Definitely. Most would prefer to munch on the Dawg anyways....
In other words, Chinese economy badly needs inflation, so the ccp decided to artificially increase consumer prices by adding extra costs to businesses instead of printing more money
nah, they actually futher deflation of consumer goods by giving cheap loans to companies so that they can prouce goods cheaper (as proven by EVs).
So, there's pretty shitty situation in China and everybody is trying to save money and somehow get by, and then someone comes in and gives you meat at 90% discount, yeah? Personally, I would go for the vegetables at full price.
90 percent discount on beef that could be fake is a pretty bad deal anyways.
Low trust society. No way that the 90% discounted meat is any good.
Mystery Meat for sure? It's gambling every time you eat in China.
Both are toxic.
Food in China? No thanks, I'll be fasting.
Yeah, that beef isn’t beef dude.
Thats why they can sell it for pretty much nothing.
$0.4 For a beef? must be fake one
i can confirm
Its not but certainly not high quality
The even weirder part of CPI vs PPI is...housing.
In the US, 30% of CPI is housing. PPI doesn't have a housing component. Obviously, housing is falling dramatically in CCP China right now. It would be really really hard for CPI to be higher with housing costs falling.
note: China's CPI is a black box. Have no idea what % they assign for housing in CPI.
You said that 50 years ago... Yawn... 😂
You talk to yourself while smiling at yourself??
Maybe the food isn't questionable, but China hasn't given itself a good reputation when it comes to food and especially cheap food.
The food in the countryside MAY be ok. But not the water they HAVE to wash it with, nor maybe the oils to cook it. And the soil it was grown in...
China is like that kid trying to copy your homework over the phone and still gets it wrong
The current FOREX is 7.27 RMB to 1 USD and continually dropping. This will continue far below 8.00. The yuan will be worthless soon and Xi will attempt a war.... 😮
Chinese fantasy based on imagination!
That's what they need, lower their population more and reduce the economy more...😂
Just print more money and manipulate the currency all good
they could be using this as an excuse to get people to sign up for war. aka blame the west for "meddling" in chinese affairs and sabotaging their economy. remember controlling the flow and sources of information is the ccp's greatest weapon
@@SillySausage-mq3so that will speed up what's going to happen and your own currency will be replaced when people prefer other strong currency over your national currency
It's hard to fake vegetables and fruit hence why the price is high.
I remember being completely disheartened working at King Soopers in 2019 making $8.60 an hour after taxes and union fees and realizing that I just can’t afford any of the food that I see every day
So, basically you were making minimum wage.
Min wage jobs aren't supposed to be long term jobs. Yes, it's terrible for people that get stuck in those jobs.
Waiting tables / bartending are the best type of jobs to make decent money without having any technical skills. When I was making minimum wage, lunch and transportation would take nearly 2 hours of my work day.
Why are you pulling that out of your rear? Minimum wage is literally supposed to he the lowest you can make with a decent quality of life, per the original documents. We live in a service economy. 40% of Americans don’t make enough to get by. Even people with college degrees (even ones in vogue, like those in tech) can wind up in that position.
Again, where are you getting this? None of that was in the legal documents when minimum wage was written into law. It might be your dream to have modern day sharecropping, but it’s an ahistorical lie.
@@batmansmith7422 lol, RUclips expert commenter is going back to the '30s.
Dude - it's called math. It's magic! People just word vomit these days and don't do any basic research.
Dude likely qualified for food stamps (SNAP). And, the Fed minimum wage is basically right near the poverty line AND you qualify for food stamps.
So yeah, real data backs up my statement.
You had a union for minimum wage job, let me guess company went under.
I do not dare to eat those dishes.
Guarantee it's all fake food and gutter oil.
it's always hard to know how long it's been sitting there. i ate a lot of sketchy food in the middle east, and i made it home alive. but it hasn't made me any more amenable to potentially getting food poisoning.
I lived in China for three years. Shenzhen. I saw things at some of these restaurants that looked scary. Like boiled Duck feet. Piles of Chicken feet. Pigs intestines. Etc. etc.
I didn’t eat any of these. In China and in Asia they don’t have much respect for animals. No. They look at them as food. They don’t think animals have feelings. But they do. Asia is not a comfortable place for animal lovers. I’ve seen more too but I won’t get into it here. 😢🥺😟
You don't like food prepared with sewer oil
@@shadowfilm7980it's not a disrespect to the animal but more of making the most of what you have. That's why there are many Asian countries that also eat animal organs in some way. Not only does it feed them more, it's cost effective
In China you get everything, except real things, hygiene or quality.
Bring your own food if you visit China
Don’t forget water. 90% percent of it is not fit for human consumption.
Try see the vlog of foreign youtube visiting China,they found food paradise, all western brand food all over China! Bring your own dog food i presume, you can't afford it anyway!
All these lie sotesdet, slandering China n Chinese like no tomorrow! Racism is on high on RUclips no wonder China banned it! Actually youtube pulled out because China don't allowed racism n violence!
@@WorldSpaceRacethat's what he is saying. If you want good quality food in China bring a ton of money. If you go for local food it's better to bring your own.
It's a shame, I had a bucket list to have a good time in China's new year while eating some of its famed cuisine but appearantly I won't be even eating food over there with the things I have seen. It's a shame a country as beautiful and historically deep rooted in history has this decline in every regard.
Don’t eat this - I got sick so fast in China after just some veggies
Veggies is also fake lol
Man we really could use some of that housing market deflation here in the US 🥵
15 usd should get a table full in 3rd world. You could get 12-14 noodle sets in thailand for that.
Bruh a fat plate of Chinese food in Manhattan cost 8 bucks.
Over supply, lack of demand, fixed operating/facility costs. They are trying to make enough to pay rent and not let meat spoil.
The bears already bad.
sounds like a perfect example for a command economy :D
Although china is only half command economy they seem to suffer the same fate
It might as well be March 20, 1933 at the lowest point of the Great Depression of the 1930s in America when we had real deflation.
I don't know why but I felt really bad for the first uncle. He seems... sad
My man is using cargo gloves to handel food 😂
Can’t even buy a Big Mac meal and a McDonald’s for 15$
For $15 I could get a gallon of milk, 2 bunches of bananas and maybe a pint of blueberries
Then don't. Many people rejecting the price hike will make a difference
That's 13€ for me. I can get necessities and cook for myself/family. Try teaching yourself to cook its cheaper avoid going out/takeout
i feel like this much food, handcooked by someone else, in the US...this would be like pushing $100.
Those were not decent cuts of meats at all.
You forget that, in China, eating out has always been cheap. I'm sure inferior quality and lack of food safety has something to do with it.
In the US they would send the entire staff of those restaurant to jail FOR LIFE. That food is toxic.
Same price.
It's because here in the US, it's food. Over there, it's toxic waste passed around as food.
The “Invisible Hand“ of Adam Smith seems to work even in China.
There is no invisible hand.
Do they not doubt why the food is so cheap?
They do. That's precisely why there is no customer.
$1400 for that Toyota?? I wonder how much it costs to ship a car? 🤔🤔
The tariffs and shipping cost will not make it worth it
I have a solution, I am asking for a Nobel Prize for this idea. It's very complicated so read carefully. The solution to this type of situation is... Eat at home, don't go to a restaurant...
Raw produce costs more than the restaurant meals.
@@bradley4465 definitely cheaper than a doctor
Is this how low demand, and high availability looks like?
Banks are mildly concerned about homeowners mortgage defaults. But, they are pretty aggressive in seizing and selling properties. Then, the homeowner is still responsible for negative equity for the rest of their life.
But, if these brick and mortar stores all go under and commercial real estate defaults, whew. There is no recourse. Banks are going to take the loss.
It's all opaque though. No one on the outside has a clue what is really on the books.
What I find chilling is the ZERO responsibility. If the bank president takes your money and runs for it, the employee that opened the vault for him goes to jail but the bank itself is not liable. Since the banks either belong to the State or to connected people it is not surprising.
@@xhagast It's a good example of the fatal mistake by western politicians and how they miscalculated. They applied the same western sense of ethics when dealing with China and assumed CCP China would start playing by the same western rule set.
I've learned to throw everything out the window and re-calibrate with CCP China. Everyone is trying to cheat each other. And, people in power will get away with it.
cigarettes in Australia is like $40 AUD.
Deflation is better than inflation.
Struggling and they still smoke cigarettes. How much I hate cigarettes. They destroy your health, your wallet and your relationships.
It’s a pacifier
The cigs cost about 1,10€ or 1,24$, I wouldnt even try that shit if my life depended on it, probably shredded pillows and dryed lawn in there.
Cigs and alcohol are poison for the masses, i am an alcoholic btw
Some people want to doe quicker. Smoking ciggs is more acceptable than mentioning you want to end it.
@@OddOtter707Interesting, i wonder how many of us do that without noticing
Starbucks and Estee Lauder said their China businesses aren't rebounding as they should either.
_Estée Lauder stock was falling Wednesday after the cosmetics company lowered its sales outlook for the year as softness in China is expected to continue._
_Starbucks revised its projections for global and U.S. same-store sales growth to a range of low single digits to flat from its previous forecast of 4% to 6%. Same-store sales in China are expected to decline by single digits, down from the prior outlook of a single-digit increase._
You're talking to yourself? What Economist are you? A self proclaimed?? 😂😂😂
@@WorldSpaceRace Wumao crying because China stock market never goes up. The SSE Index was 3100 in 2007.
And, obviously has no clue how the business wires work in the US market.
Those living in rural communities are living better than those in urban communities. They have fresh,real meat and access to fresh untainted vegetables often grown by themselves. Also they have space and fresh air.
Remarkably good economic analysis - government taking control of failing private enterprises leading to a "wartime economy" where everything is state controlled and thus inefficient. I don't see a way out for the CCP and, of course, the Chinese people will suffer most.
Awesome finally video about Chinese economy which was detailed enough but still simply said
Thanks 👍
Shoot I’d go to china for those prices if I wouldn’t get arrested immediately
Looks like money-printing wouldn't cause much inflation.
MY theory is that people are losing trust in the banks and are keeping their money cash. China used to do a LOT of transactions electronically, but now the banks can decide not to let you have your own money. If half the US had no CCs we would need a LOT more cash.
Overpriced goods lowered cause they can, fruits and stuff prices rose cause people that sell them need to live off of that too
That is just the calm before the storm
😂😂 A radioactive plant exploded or something contaminating all the livestock in the area and now they talking about deflation to sell it off quickly 😂
Not even made of organic compounds
I spent a year in China as a student intern, 20 years ago and back then spending 100 RMB on a meal would have been much. Even when I ate at one of the American fast food chains, like McDonalds, KFC or Popeye's, I never spent more than maybe 30 to 35 RMB on a meal.
My monthly salary as a intern was 2000 RMB and I could live off that money very well. Granted, I didn't have to pay rent or utilities.
Knowing what I know about food prep methods, including all of the unhealthy faux food products served, including sold in China, I would never go out to a restaurant in China.
"These meals are cheaper than expected"
And goes the saying "if it's too cheap, beware"
And in China, it'll cost you your life or a hefty hospital bill.
It is puzzling how you can slash the meat price by that much. Is there like abundance of meat in China?
Probably rancid.
China has one of the largest meat industries in the world, and also the biggest consumer of meat in Asia.
That said, there's also a reason most countries refuse to import Chinese meat, or why most of them typically just end up in bargain markets.
@@Redguns4lifeok fair enough
Great reporting, thanks.
they should be like America and just raise prices instead of dropping them
And get less customers?
Western world is not far behind. Rich keeps getting rich and squeezing the poor.
They won’t scrap those cars, they will just lower the prices until they sell
Rice fields have work available 🇨🇳
There are no crop fields left. Every piece of land has been used to build tofu buildings, or the governors have flooded the crop fields every time it rains.
@@makedredd299 China is the same size as the USA they have plenty of farm land.
@lance8080 having farmland and good soil are two different things.
@@lance8080 Russia must have alot of farmland then, wonder why agriculture's so poor there.
Very good my country
Wow that’s almost free 15 dollars that’s practically getting paid to eat lol
I was in rural China (2 hours outside Beijing drive) and we went to a restaurant that was nice. It cost us about 3 Yuan (0.50 cents) per vegetable dish back in 2017.
You are not seeing deflation, this actually seems like inflation as it is a market cook, not sit-down or fancy like I went to. It is just people don’t have the proper comparison from the past.
Probably fake meats?? Or from other animals(you know the ones not meant for consumption).
I want a ¥10,000 yuan toyota Corolla its like $1,380 for a toyota.
For context update on exchange rates everyone. 1 USD = around 7.20-7.25 Chinese Yuan
Time to get rid of all the meat in the freezer.
all that cooked with gutter oil-- yum 🤢🤮
You cant be serious ? The one hundred yuan vertical cdrama was real ?
Their killing off all of your BEEF!!!
It’s amazing to see in real time the effects of horrible leadership.
lucky them they get deflation and the west gets inflation...
consumers would love deflation here.
inflation on its own is good for the overall economy as long as it does not get out of hand. It is the reason why all major countries aim to get the sweetspot of about 2% yearly inflation.
deflation is a bad sign for your economy.
@@meganoob12 it always gets out of hand. 2% is bs as they never hit that mark. did people get 3% raises year over year every year ? a lot don't so there goes their purchasing power.
lol I’m sure the beef isn’t beef probably dog!
The irony that not matter what country you go to, west or east, city living is expensive with a low standard of living.
China just needs to increase wages. Continuing the “cheap labor, high exports” model is shortsighted, it works wonders to grow a small economy but China isn’t a small economy anymore so everyone will put tariffs on Chinese goods because they flood markets and the Chinese workers can’t afford the goods they produce because of low wages so the big industries who grew extremely fast at the expense of their workers won’t be able to sell their stuff and have to shut down.
Ah yes the ol....eggblood meal
The beauty of this site is its truthfulness...no talking heads spouting the government talking points, just everday people on the streets.
Now extrapolate to the end of 2024, beginning of 2025 and replace China with the USA and you will see what we have to look forward to here.
If you do not have to buy (and usually you don't HAVE TO), the prices will drop! Obviously I am not talking about essentials such as food and a roof over your head.
Keep your head down, work hard and don't incur new/more debt.
I would add "get in debt if you know how to pay it off."
There is no way in hell I would ever eat that food. Reminds me of the old song _Bad is Bad_
"Across the street, a neon sign
All you can eat for a dollar ninety nine
Aww, that old stew is the baddest in the land
But a one dollar's worth was all that I could stand"
I have no background involved in any topics that this video touches on. But my immediate thought was China needs America and America needs China. I'm not saying it would solve all of China's and America's problems. But I do think it would've dampened the blow from the pandemic and other extenuating factors. What do you guys think would happen if it lifted?
“Beef”
100 yuan is $14.
I wouldn't want to eat gutter oil and spit oil either. Id eat at home.
Fake meat is not worth anything… 😢😢😢
The cost of counterfeiting must be paid
jesus, i couldn't eat 90% of this savage prison slop, actually when i was in prison as a kid it was way better food than this
Because you have been lied to like a full! If you watch a channel, see their credibility! Full of hates, anti China channel, meant to misinformed you! China is the number one superpower now! Eat sheets?? I can't spell sh'ts ya
Sewage is written with a w.
@@xhagast thats being a bit to mean to our sewage tbh
@@xhagast my damn Google phone changes words without me noticing
I know people make fun of the food here in the states but some of the food there looks even worse… i know most cooks there dont have access to the best ingredients, but even their sanitation seems low, has food poisoning written all over it 🤢
Thank You. This is an eye-opener for me.
must be beef from sick cows
I love seeing people who don't know anything talk about Chinese food, the reason prices are low are due to living in a rural area that produces those items you are eating. Many places in China are farm based as well as use materials not commonly used such as blood.
yeah I'm not pro china but idk why everyone is acting like all their food is radioactive sewer mush. I dont think they understand the cheap prices are a result of high supply low demand and businesses are trying to stay afloat. Unfortunately the result of the ccps economic mismanagement and many common folk will suffer as a result.
90% discount? No way. Lol
This is actually great news for the working peeps of China. In the same breath the people criticizing China are complaining about the cost of hamburgers. Choose for yourself.
economic stagnation where people can barely afford heavily discounted products is not good for the working class lol
geeez, these ppl will eat anything!
How do you have no handle?
@@kmve smart
Rise up People of China
Is it real food?
Actually, that is a deep philosophical question. It is the difference between a plant you can it and a poisonous one. The edible one is food. Can you eat what the Chinese put on your plate?
A body bag is included in the price?
Americans don't laugh the same is coming to you too.
Lmao
Actually it wont and that's the problem because of MF'ers putting corn syrup in everything Americans eat.
Is it real meat, or that plastic stuff?