No Business! Food & Drink Sector Dying! OVER 500K Restaurants Shut Down in 2023
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- Опубликовано: 19 сен 2024
- In addition to Guangzhou, other cities including Shenzhen, Shanghai, and Wuxi have all seen closures of Pacific Coffee shops. The current number of Pacific Coffee outlets remaining operational in China is estimated to be around 166; a significant decrease from the 443 that were operating in 2020.
On March 10th of this year, Christine International Holdings, widely recognized as the "top stock in the baking industry," announced in a statement on the Hong Kong Stock Exchange that the company was encountering operational difficulties and cash flow shortages, resulting in delays in rental payments, supplier payments, and employee salaries. Consequently, after 30 years of operation, the company officially declared bankruptcy.
#shanghai #guangzhou #Restaurantclosures #chinaeconomy #chinaobserver
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It's a blessing in disguise if the sketchy restaurants using gutter oils go out of business.
Sadly using gutter oil is a way to savd on costs so the use of gutter oil may actually raise.
Wake up, they all use gutter oil.
Gutter oil usage will rise as restaurants cut even more costs.
Don't forget spittle oil. They reuse the chili oil in malatang restaurants to serve other customers after it's been used by the previous ones to save money.
And they wonder why they have no foreign tourists.
Does not matter what country you are from, when the economy gets bad, the first luxury to go are eating out. Cheaper to make dinner at home or get frozen dinners.
That means that vegetable wholesalers and chicken farmers will be doing very well in a down economy. People still must eat in a down economy
@@tanalson they reduce their food intake. 3 meals to 2 meals or even 1 meal
That is tragic when a country has a really great food culture. But chinesw home cooking may just be as great.
@@SharkFishSFEven though I’m not doing poorly financially, I _still_ eat one meal a day… I guess it’s force of habit at this point from my past, lol 💀
@@ayaneagano6059 me too, I experiment a lot with omad/keto/carnivore etc.... It's a blessing for us to save money.
China is currently in the find out phase.
They still have an immense capacity for more fxxk around.
@mikegammon1 don't worry as long as CCP never have to find out they will fxxk around for more
The amount you find out is proportionate to the amount of f around is accrued.
5.5% GDP growth. Mathematics with Chinese characteristics...
I see the same here in the US. Some of the Malls are empty. It's everywhere around the globe.
This is what happens if not only do u shut down an economy for 3 years, but u also do it in a draconian way scarring people long term!
The covid saga was also done in western countries. China even seemed more liberal about it. Because while China was celebrating the end of covid, most countries were on lockdowns.
If you see foreigners leave your country, you should have done the same thing. The people in power are draining your resources, and there is no business, social, or economic support in the Chinese economy. The worse perspective of the Chinese social environment is that financial losses and bankruptcy for businesses and individuals have no methodology to both release liabilities and repair the situation in the court system and in the business arena. What you are facing is constant extortion events from government, police, and CCP officials while they drain your assets through civil forfeiture, taxes, and excessive arbitrary fees.
What about when your country is overrun with foreigner and the government doesn't stop the immigration??? 🇬🇧
Dont Flee , Stand and FIGHT !
@fturla___156 Excellent points. Spitting into the wind, though.
@fturla___156 Your comment makes complete sense, and it’s so obvious, I don’t know why I didn’t think of it.
@@paulmcmillan533billions of people coming via boats…. 🤡
But how are people going to eat gutter oil hotpot now 😂 ?
Well, they'll have to go out and collect and make their own artisan gutter oil at home!
They can still have the chili sauteed rocks and piss eggs to fill their cravings.
SIR MY INDIA IS THE REAL SUPERPOWER NUMBER ONE🤗🇮🇳 WE HAVE THE BEST INFRASTRUCTURE AND HIGHSPEED RAIL 🤗🇮🇳 MEANWHILE IN CHINA PEOPLE STILL RIDE RICKSHAW EVERYWHERE AND THEY ALSO POOR DONT HAVE CAR . THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
Yeah gutter oil, dogs, bats, whatever animal customers are going to miss there
I can’t look at the hotpot stuff without thinking of the sewer oil reclamation footage.
People who are out of work, don't go out to eat.
I'm afraid so..
Recently Chinese electric car company named BYD was planning to open up a car factory worth $ 1 billion in india 🇮🇳 but government of India 🇮🇳 denied. 😅
🎉 for w😮🎉
I see westerners standing at street food shops. Don’t they realize that sewer and spitgrease is being used.
some ppl like to eat garbage like how some like to go to hell~
You can see the anger lobster restaurant owner is young but already moving like an stressed old man. Chinese people are hard working people it’s too bad their government screws it up for them.
It's not just China. I run a restaurant in Cambodia and here they are folding at a similar rate. In my small town alone 12 out of about 100 went under this month and there is no government support for the laid off workers. Personal debt is crippling many khmers as land prices plummet and negative equity grips the nation.
Let the officially-inaugurated Hun Sen dynasty sort it out for them.
@@ronnelacido1711
Hun Sen will be fine and stay in office as long as outside powers do not know Cambodia still exist. Same with Thailand junta, where its survival strategy depends on CIA interns cannot find the country on the map and did not see anything worth fighting over.
@@thanakonpraepanich4284oh I think you will find that China knows very well where Cambodia is. And if things are as bad as you say, I imagine it won’t be long until Cambodia is a fully satellite state of China if it isn’t already.
0:37 On a positive note, countless lobsters have been saved from a horrifying death.
Four words that I have lived by since my youth: "Spend some, save some."
I don't care how good things might be at any particular time in your life, never relinquish this rule.
I really feel bad for China's Citizens, it's unthinkable and unbearable how difficult is there situation is while there government is way to obsessed with the reunification of China and Taiwan.
Sadly yes.
Do you feel bad for the citizens of the world who lost their career, family, loved ones, and economy
@@TrudeauhugspandasnotMicheals do you?
Chinese people are so racist I don't feel bad at all.
The trouble is, if you consent to abusing others and accept abuse for yourself, then apocalypse is the only sight in end. Chinese people, boycott your CCP government.!!! It is the only light out of the tunnel.
Gutter oil and other disgusting practices probably don't help either.
Excellent video. So, so sad though. I can barely imagine the level of despair that man must have felt, or any of the other citizens who must feel similarly, looking around at the devastation unleashed by their own government.
I feel so bad for these poor people who just wanted to own a business.
It's overrated these days...
@@SharkFishSF someones dream is never overrated
@@Mingonator87 not if it doesn't make any $$$
@SharkFishSF that was the point of the original post.
@@BreakfastAtNoon owning a business is easy, running it isn't. That's why it's overrated.
They GET what they have been ASKING FOR all these decades.
Small correction--the "lobster" is not actually lobster, but crayfish or crawfish.
Sounds expensive, couldn't he change the menu to something cheap?
Any idea why they ran out? That seems like something their fish boats would bring in, no?
@@doncarlodivargas5497 It's just the translation. 龙虾 (longxia) means lobster, but 小龙虾 (xiao longxia) is crawfish. It's a popular street food and casual snack in China
@@GrimReaperNegiIf it's a large operation then most likely destruction of habitat and overfishing. I know in ocean fishing they drag the ocean floor for anything and everything between, a Fijian told me they sit just outside in international waters and take everything, leaving the locals hungry and ocean life empty.
Lobsters and and all kind of sea food....taken from Philippine water without permission.... And they will bring in their navy....to bully small boat fisherman of the Philippines.
After lock down people realised they don't need to go to eat. They learnt how to cook for themselves.
It's also called a recession. We are all feeling it
Investing in restaurants in China right now is the surefire way to end up in the poor house. It's understandable now why Chinese families would invest their savings doing the brutal trek to the US nowadays rather than risk it with a hopeless venture in their own country.
Restaurants are classic consumer discretionary. When people can barely afford to pay for rent and basic food, they no longer eat out or go to other non-critical services. China's economy has been cratering since the Covid lockdowns cut off manufacturing exports to previous clients, who have now moved on to other suppliers, leaving China high and dry without income. What you are seeing is an economic death spiral that typically ends in regime change, so all of those knife vendor prophecies are not without merit.
Retail death doesn't mean industry is dying. It's not good, but I'm still waiting for indicators of industrial health. China isn't some western country that revolves around consumption.
Regime change? Nah, they too cowardly for that. The last true free Chinese are either in Taiwan, overseas or died at Tiananmen Square. They’ll just cower in their sewers till the last surviving dictators capture them to breed them in human farms.
@@The_Ballo My friend, look into the drop in factory output then. You can see employees getting fewer shifts and the ports shipping out less tonnage of stuff if industrial output is what you are concerned about. One major consequence of the zero Covid policy restrictions was that foreign buyers were forced to find new suppliers for manufactured goods, and that demand hasn't come back yet.
@@LustyLichKing
So Chinese domestic demands are nowhere near enough to fill the gap left behind by overseas orders drying up?
@@LustyLichKing I'm not denying that, I'm just saying the collapse of the retail market isn't a good indicator of an export economy's strength.
Where are the actual export numbers?
Sounds like landlords are doing great in those buildings that are eating up small businesses...
Yes and as an example Macdonald's have done this to themselves and many of their restaurants are closing down everywhere.
SIR MY INDIA IS THE REAL SUPERPOWER NUMBER ONE🤗🇮🇳 WE HAVE THE BEST INFRASTRUCTURE AND HIGHSPEED RAIL 🤗🇮🇳 MEANWHILE IN CHINA PEOPLE STILL RIDE RICKSHAW EVERYWHERE AND THEY ALSO POOR DONT HAVE CAR . THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
CCP should be ashamed of zero covid.
The mandate of Heaven incoming
over due
So the Communist Party is just another dynasty according to the Celestial Bureaucracy?
Restaurants closures are common all over the world. Mostly due to high bank interest, rent, food costs, wages increases etc. people have limited money to spend and most likely staying at home instead of eat out.
Not at this rate of closure.
What is the rate? In western countries, it’s the same time happened. Inflation, interest and job losses are the issues.
All over the world? Really? Did you mean turnover or shutting down? Big difference!
Not this scale dude, especially on 1st tier city...learn to math. Only China did the stupid complete lockdown Covid policy, and the impact can be seen now.
It often comes down to people who try to run a restaurant have no idea how to actually run a business.
How come when i ask my exwife about China she always say it is amazing and it's doing fine? She has always been lying even to immigration
Well, in the US and Canada, they want these high tips when meals already cost more than they would already than some European countries. I do eat out, but I cut back.
After seeing Serpentza's video on "Spit Oil" where they use that nasty gutter oil from old customers in the pot you just ordered, I don't think I could ever see a "hot pot" anywhere in the world and want some.
I got horrendously sick after eating at a Hot Pot in Asia. I shudder to consider what I had consumed :$
Don't worry, this is a mostly strictly China thing.
@@Penrose707 Where in asia.
@Penrose707 atleast it tasted good and authentic 😊
Yeah, I watch it too and I can't imagine why they do it! since then, I'm very suspicious to eat their restaurant anymore even anywhere in the world, that's my personal opinion bcoz we don't know what's going on in the kitchen. Yucky yucky my dear!
Why the heck am I blocked from the Chat?
I promote this show!
I guarantee that you were false flagged by pro-CCP shills.
I see you!
That is due to RUclips doing the censorship not this Channel
yes waiter give me bat soup with a side order of gutter gravy
Bat soup and cobra soup and blood for arthritis ....I dine with Chines
Don’t forget the piss eggs! Ingredients freshly added right from the tap!
Do you want to add fried rat's head wrapped with a spray-painted cabbage?
The animosity they had against the westerners, boycotting foreign brands. Now, this is karma.
My heart breaks for all those displaced and dispossessed via the actions of the CCP. To hear that many from IT, education, and real estate industries find themselves in these desperate situations is terrible. I hope that these people know that it was not the West which has done this to them. It was the actions of Jinping, who was attempting to take absolute control over the pandemic, and the CCP who are to blame for these peoples suffering.
does your heart break from tortured, boiled alive DOGS served in restaurants?
oh come on, we are doing it to them. not saying they arent helping the process though, lol.
It's called capitalism greed and corruption
Don't weep for people who think non-chinese are a sub human species and haven't overthrown the most murderous regime in human history despite many opportunities over the last 70 years. This is their choice.
@@breakingthewall2112 Son, when it comes to greed and corruption, socialism and communism are miles ahead of capitalism. In a capitalist society anyone can get ahead by whatever means they choose, while under communism only the "inner party" elites get wealthy by selling favors. Try to remember that greed and corruption are human factors, it is the society under which we live that moderates and controls them.
I feel terrible for the people of China… what a devastating feeling it must be to feel like your life is in shambles and there is no way out.
Any idea why they would break their own stuff? That just seems stupid. Now you have to spend more money to replace what you destroyed...
Direct result from the CCP bullying other countries, COVID denial, threatening war, and barking like a pitbull at Western countires. The people of China MUST rise and overthrow the CCP - that's the ONLY way.
Rice farming way of their ancestors 🇨🇳
most people have left.
@@jaapaap123left where? Makes no sense.
We do have periods of growth and bust,overdoing, or too many shops may be a factor. The next option could be a measure of economic activities , the food culture of Chinese suggests that eating out is important.
Hard lockdowns in all countries practicing this method of this method have been followed by a decline in commercial activities. The lockdows changed eating habits as people found cooking at home was a lot cheaper
Who can afford to eat out anywhere in the world today? Food prices at the grocery store are already high and rising. Food contents are shrinking, and many food items are just simply not affordable anymore.
The best defense against communist authoritarian dictatorship is to strengthen democracies from corrupting influences and nepotism. It takes an active and concerted effort of the people, to ensure that our democratically elected politicians are truly representing our interests.
We must also address what hostile communist countries are doing, both domestically and abroad. Democratic Nations must stand together against their lawlessness in defense of global security, human rights, and enforce International Law.
Which country do you mean democratic nations ? I don’t think any of NATO countries are ..
Indeed!
Now all it takes is holding the communist countries accountable for their criminality.
@SunriseLAW I just hate democracy and pefer authorianism
@@YN-ze3jyabsolutely agree there
@@jamesabestos2800 Democracy is just ideology put forward by democratic party. Note that, we are in fact constitutional republic. But either way, no country escapes authoritarians, it's just one operate back hand puppets like our trash Biden and Washington swamp, and the other operate directly on the bright side for example like China.
Yes unfortunately most people have been forced to reduce the amount of dining that they do because of the economic climate. Things may never be the same again, especially for small independent businesses.
CCP is making it really difficult for it’s people to survive….
the great rugpull of the great reset...brought to you by the WEF and the CCP
if fabrication slows/shuts down, people have no jobs! No job no money, no money no money to go around in the economy. No money to go around in the economy no ability for shops to sell or the food industry to function.
Over 20% young unemployment. Can't be good, and even older people having to take up jobs usually where younger people would be. IF that job even makes sense.
Too many people, too few jobs paying, officially not unemployed but underemployed.
How much money flow has evaporated? A lot obviously if restaurants and smaller outlets have to fold.
Now lets say you want china to crawl up out of this hole, how? Their own productivity and income isn't enough to create a rich economy. And if exports keep crashing... where must that money come from?
“The arrogant one will stumble and fall
With no one to raise him up;
And I will set fire to his cities
And it will devour all his environs.” Jeremiah 50:32
We lied, we stole, we cheated. We have entire training courses - MP.
I made a friend in Ningbo who told me 2 of his friends had died from stomach cancer. In ShenZhen fried food smelled really bad. They never change the cooking oil because its scarce.
I wonder why no one is eating from the restaurant of this clearly nice guy
just a lack of tourists right now. china has made china visa application extremely hard.
the cooks urinate in the kitchen sink, do not wash their hands after they take a shit, food served to the customers were infested with fly eggs/pig intestine worms. The spoiled rotten chicken, beef, pork had been washed in bleach to kill the smell. Lucky customers would immediatly vomit what they had eaten saving themselves from food poisening
Gutter oil put them out of business!! #BadBoy!
We lived in China from 2003 until 2007; people seemed happy; they did not care about their awful government; why should they? Things were good; the economy was booming. While there, I always wondered how the people would react when the inevitable boom ended, when the hard times came, and the jobs vanished. I guess we will soon find out.
Every business is closed in my county due to covid and now more and more businesses is closing down
What is your country?
I saw on a recent documentary that a large percentage of rich Chinese folks have gone to select other countries.
i think this is not just a china issue. this kinda happens everywhere else in the world.
SIR MY INDIA IS THE REAL SUPERPOWER NUMBER ONE🤗🇮🇳 WE HAVE THE BEST INFRASTRUCTURE AND HIGHSPEED RAIL 🤗🇮🇳 MEANWHILE IN CHINA PEOPLE STILL RIDE RICKSHAW EVERYWHERE AND THEY ALSO POOR DONT HAVE CAR . THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
Not here in the Philippines, here we are happily doing our business 😊 and we are not using newspapers as food wrappers unlike India😅
I cry for China, never has a society achieved so much in a short time ,Cant Xi see what is happening,,,,this catastrophe will take 50 years to recover and so with other countries ,tthe rudeness of Chinese diplomats and the black mail of countries like Australia is being noted and china will now destroy that trust,,,,,
"other various payments", say it for what it is, backhanders to the local officials!
Now, city businesses are done. Farmers and fishermen are survivable! Farmers suffered for years from the CCP. Now it is the other way around.
the things getting worse because of the USA's sactions. Who should pay for the pain of the people in China? Not the Chinese government
Considering the large population, can someone tell me why there is a downturn in employment in the education sector?
Private tutoring basically banned so massive unemployment in that sector instantly
Less people giving birth over saturation less money ect
you don't need an education to be a child worker making shoes or phones.
Like the person said before, they government pulled the plug on most private tutoring and language centers. It was all in the name of saving money for parents. Extremely short-sighted.
@@hillerm As I recalled, it was to promote CCP approved thoughts and education without exposure other ideas, questionings, and foreign influences.
when you're serving gutter, and/or spit oil, this is probably a boon.
Do they really need to rent entire restaurant while all they need is a kitchen with trustful food app?
Goooo TAIWAN👍👍👍. They thriving food sooooo much better!! 🥳🥳🥳 no problems here!
chinese greediness that is killing their economy..
Excellent coverage
No business ? Let me trash my restaurant.
I feel for the store owner in despair.
China is fine. They made tons of money during good times!
it's a problem in all the world only the rich part of the club can have success.
The atmosphere has to change. Believe in working hard, but relax, smile, whistle, hum....we are all human beings, creation of God. Here to lead a joyful, happy life. Work earns you your wages, but time and good health are gift from God to us. Be happy, be joyful.
Welcome to America 🇺🇸
Same here too
Don’t feel bad China 🇨🇳
My technology startup failed 2 times.
Maybe l will try again. 😀
For more than 25 years seeing this industry, it's a joke.
Small cheap food stalls get consistent business which are on the roadside, footpaths,etc basically illegal,movable, whatever,etc.
Люди задумайтесь куда мы идем ! Это отвлекающиющий маневр ! Мы все идем в бездну и нас уже никто не спасет ! Я хочу вас предупредить,запаситесь продуктами на время может поможет или закройте свой язвенный язык ,обратите вы свое внимание к Богу )) Вы о нем ,что знаете ? А ведь он тварит чудеса ,а люди приписывают это к своим способностям ! Задумайтесь ,Ради чего вы жили и кому благодарны,Мы все едины от одного Отца и Матери ,кому в первую осчерьдь мы должны быть Благодарны! И никогда не забывать об этом !Печально ,что люди этого не помнят . это конец человечеству ! Останутся только избранные ❤️
Number one country I never ever wanted to go to. That was before I learned about gutter oil and tofu buildings.
Rise up People of China
Social credit score just wen to hell.
Atleast all those toxic food gutter oil is gone from the market
People just isn't hungry anymore after watching numerous food posted in the medias.
Pandemic alone is not the cause. CCP's various policies had also spooked the Chinese people into saving their money instead of spending it. That include CCP's foreign policies, its action toward handling man-made and natural disasters and its attitude toward other nations (like India, Taiwan, Japan and US).
Why did Luckin just report great earnings?
Good no more killing cats and dogs for their restaurants,let’s just hope their floods wipe them all out.
Why is this recession in China getting so little attention in the Western media?
This is what you DESERVE for using SPIT OIL and GUTTER OIL! Customers VOTING with their money AND their feet!
Soon to be in the US
G00d features of China thanks
Masses of restaurants going out of business indicates how much fewer people there are in China
This is the opposite of Indonesia. Here the business is actually bad too after covid. Many shopping malls become graveyards, noone hardly goes there. But online stores are booming. In fact Indonesia is one of the countries where its citizens keep buying stuff.
Poor people... Thanks for sharing.
Gutter oil rocks😂 but ccp says its all fake😂 stand up for your rights and puch your regime
what goes up must come down.
I think the current conditions are the same in every country. economic sector concerns and inflation. independence of primary needs is a solution compared to market dependence
Isn't it about time you raised up against the CCP who were responsible for all this?
4 yrs ago.... They were all so proud of their communism 😂
Given the surplus of 2nd hand restaurant equipment due to way too many new restaurants in China closed down after just less than 6 month operation, any chance that they could sell those equipment to other countries?
you wouldnt want any second hand chinese equipment. knowing how much corners they cut to make the cheap "food"
They don't meet health and safety standards of other countries than can afford to purchase the equipment for any reasonable price. It would be more profitable to scrap and recycle the metal.
I was thinking the same
@@knurlgnar24 It's just a bread maker or oven don't have to be so serious about it jeez food is great in China go have a try
A pizzera/grill in my neighbourhood closed down shortly after their pizza oven broke. Apperantly they could not afford to replace it and without the income from pizzas they couldn't make it. I assume that similar things happens elsewhere as well, buissnises that cannot afford to replace critical equipment.
It is going to be very important, for both the Chinese and those who are referred to as the West, to understand that it is these bodies of power that drive us into misery--not each other. The early horns of war have already begun to sound and the leprous distilment of nationalistic rhetoric has long since been dripping into our ears. An individual person is always wise enough to see but not always informed enough to know what it is that they are seeing.
Gutter oils or spit oils fkn sick.scooping used oils out the sewers or straight out the bin is beyond absolute filth.
Big fan of this speaker. I like all the others as well, but I am particularly fond of this one.
Propaganda... mostly china in good condition
Every video since 2020 could be titled 'Shit's Fucked'.
Good!!
When a countries leader n government says it owns a whole damn sea. N bullying it's small neighbors. N has no regards about copying products.....That country deserves no help or sympathy.