Yiwu Is Finished! Factories Close, Mass Unemployment, Low-Cost E-commerce Drains Economy

[@ChinaObserver0]

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[@mikestewart4752]

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[@davestark2015]

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[@bubbleteaichooseyou]

Congrats on the sponsor

[@mikestewart4752]

@@davestark2015 ya but you only had $1.50 in your account. 🤦

[@mnizammasood]

Chinese e commerce had been flooding cheap goods to south east asia. Indonesia was hampered by their mass produce goods. Not only that, Malaysia and Thailand also facing the same challenges. But we are fighting back. Indonesia will slap 200% tariffs on certain goods, Malaysia and Thailand will put 100% tariffs. We dont want their cheap, dyed with chemical goods in our country. Plus, they kill the competition by mass flooding.

[@pascalhenry1001]

wake up South East Asia !

[@Donkeyearsa]

Instead of putting tariffs on china's crap just out right ban all importation from china entiraly.

[@picest_]

ohh you are too late india already has 100 percent tax and 100 cess on import from china

[@picest_]

please don't be middle man and dump chinese product in my country with your tag

[@myintmaunmaun]

Chinese stocks are flying up because of channels like this , thank you for making me millions .

[@liowyew]

As a buyer, I don't care about the cheapest prices; I care about the best quality services. Do you have one? No imitation and substandard goods

[@kyleknopp8093]

Maybe China should worry about themselves more than a war.

[@smartguy1008]

Netizens... DONT be fool by China FAIL economy news online... Its NOT 100 percent true... China people are hardworking people, they will succeed eventually. (Its Western economy that is failing... for sure !!).

[@holycrapski]

They blame everyone else, You reap what you sow.

[@alistairogilvy7696]

Idk, seems like CCP corruption is doing most of the sowing to me..

[@Pheoniex]

Blaming someone else doesn't fix the problem. 🎉

[@nureenizati9422]

Most of these people don't understand the concept of supply and demands, if there is too many supply, it will flood the market with too many products and nobody buying it. Not to mention, the products are that of low qualities and junks. Most of the customers today are smart. They don't buy cheap and junk products but they prefer local products with slightly higher price and good quality. Don't forget that it were the factories from the China who destroyed the price first. Firstly, they steal the idea from others, secondly, they will replicate the product using cheaper materials, then they will sell it at lower price to compete with the existing brands. At the same time, the existing brand with high qualities is forced to lower the price. The cycle of lower price continues. Lastly, nobody is buying as the customers losing confidence in the products or no longer need it.

[@whitebloodism]

As long as they make money in the short term they don’t seem to care

[@chrisyoung1576]

yep not very future proof plan

[@cevinpro1]

Not only that, the cheap goods is manufactured and shipped using cheap labor that work like robots, the wage is pathetic its almost like modern day slavery.

[@mikestewart4752]

“Corruption is RAMPANT in China!”- Victor Gao, August 2024 in front of a live international audience.

[@patrickt49]

And yet if you say those same words to a CCP official you will get reprimanded for it.

[@teardowndan5364]

I'd say at least half of governments worldwide are corrupt to the point of having severely compromised effectiveness.

[@sleepinglaffey3886]

they can sell Organ leeks

[@cyberpotato63]

What Victor Gao doesn't understand, or won't acknowledge, is that all this overcapacity, overproduction, and over-financing, is a byproduct of the way the CCP does industrial policy. They indiscriminately pump huge amounts of capital into target sectors hoping to keep up GDP growth numbers, but there is no market for the amounts that are being produced. 25 years ago, when China had nothing, and a huge population that needed everything, they could get away with these policies. However, over the last decade returns on investment have decreased to the point where indiscriminately stimulating GDP growth is counterproductive. Now, there are way too many companies fighting over finite market demand. Now, sectors of the market are in free fall and jobs are being lost at an alarming pace. The question is, where will they hit bottom?

[@patrickt49]

@@cyberpotato63 I agree. And sad part is they never were able to successfully carve out their niche market and developed true homegrown businesses to match the likes of Japan, South Korea, and even Taiwan. They will always be known for sub par manufacturing the likes of which are being overtaken by manufacturers in Southeast Asia.

[@TmoneyOGGamer]

They complain when foreigners were all over China, and they complain when foreigners left…lol

[@padgaprao2617]

From looking at what is being sold in the markets I can see why they’re empty It’s junk

[@Knowbetter69]

China makes junk

[@JB-yb4wn]

Chinese junk. Yes, I will leave the building.

[@StyxAnnihilator]

The sad thing are the unneeded environmental impact and waste of resources, because of short sighted exploitative mindset.

[@brianboye8025]

Let the pruning begin. Bubbles pop and markets go up and down because they are cyclic. More is not always better. Investments are great but don't always bring profits.

[@graememills7778]

Pretty much every product shown in the video is a cheap knock off or low quality trinket that is based off a quality item produced by a company that likely invested money in R&D and studied market trends and needs. This is a self propelled problem with the mantra of copying, neighbours are literally competing with not only each other but with the same goods.

[@shubus]

Yiwy? Damn! We were hoping it was Temu. But better to have one less place selling junk. And how much of those super low-priced goods are counterfeit? I must say this is a most excellent analysis of the E-commerce industry in China.

[@nikedoesthings]

Temu is part of their problem since they make things go cheaper and cheaper and cheaper. Not only in the west but in China too. So I dare bet Temu has a hand in this.

[@susannayeu4471]

Let's go back farming!

[@b21raider27]

Be careful especially buying cheap Chinese electronics or anything with wires or batteries. Fire risk.

[@AwesomeFish12]

This is true, Ive had two items melt down and catch fire. About a 50% success rate with cheap ebay electronics. They aren't worth having.

[@ishaks8152]

Their ev catch fire 🔥 easily but stupid people still buy.

[@lindenhoch8396]

China has always had the advantage of the enormous population. Anything is possible, there were always more customers, more markets. Now, it seems they are saturated and a new reality sets in. It's a tough lesson that hits hard and fast, one that most modern western societys have learned spanning a half century, creeping into it.

[@midimusicforever]

Another nail in the coffin for the CCP.

[@acacacacacacaccaca7666]

-the angrily smashed a box filled with goods Box visibly empty

[@vincenttay2812]

This channel full of garbage propaganda

[@douglassun8456]

12:30: I saw this a lot when I was selling on eBay and Amazon Marketplace. New sellers rushing in and they try to gain an advantage by undercutting everyone else on price. It quickly becomes a race to the bottom, and it just ruins things for everyone. The newbies who started the price war die because they're not making enough money, but the sellers who know what they're doing bleed too. At the heart of it, the problem is that these new, gold rush-type sellers don't understand anything about what they're selling; all they know is that they want to get rich. The sellers with staying power are the ones who understand that knowledge is their decisive advantage: understanding what they sell, understanding why people by them as well as knowing where and how to get merchandise at a price that allows them to make a decent profit.

[@mgronich948]

Unfortnately the same is happening in S. California. One shopping mall that used to be packed with shoppers, now has 60% of the shops empty. Restaurant prices have gone up about 70% compared to before the pandemic. Because of the high prices, many restaurants have closed.

[@MissFoxification]

Whenever I buy from CN and discover it was from Yiwu and similar places I feel guilty, like I am picking over a carcass.

[@vanessali1365]

Overcapacity is the problem. 供過於求

[@Jim-b4t]

So depressing. Just a race to the bottom. Get rich quick schemes ruin these kids. My heart breaks over this terrible sitution. Go home. Grow vegetables.

[@graceland395]

International shipping from china is now prohibitively expensive.

[@emersonshiff8132]

No more free shipping for Pooh Bear's China? That's not fair. Poor Pooh.

[@Vhvjdow0ajsbcdhcuei3o22-om4sm]

China never had high consumer spending and they never will, it's in their culture

[@tolubamidele1508]

Not so. I lives in China From 2015 to 2019 and i Saw it first hand. They Also Bought High quality items that European could not afford. All luxury brand had to put a cap on how much they could buy. They made the cheap items for export and but for local consumption per say. They had high purchasing power which is now sadly eroded by all sorts of poor decisions by the government and the wuhan epidemic lockdowns

[@PeterRudesindus]

Correct me if I am wrong but usually when prices across the board fall, the prices for everything else fall too. But the government is trying to prevent that, which is why you have deflation and people refusing to spend.

[@bluedrakken]

people are not refusing to spend money its much darker. under the ccp the banks stole everyone saving to fund ccp spending.

[@alistairogilvy7696]

Doesn't seem to me that the govt is doing anything to stop it - rampant money printing is causing the same problem in many countries...

[@PeterRudesindus]

@@alistairogilvy7696 ​ They are artificially raising prices for food and other necessities like gas and energy. They are also still trying to stall the price fall for housing.

[@alistairogilvy7696]

@PeterRudesindus but when overheads increase for businesses operating on razor thin margins, it leaves them in untenable positions. Businesses wouldn't close down if they had an option of slimming their profit margins. So many businesses are folding, malls and shopping strips are seeing no customers due to consumers having no disposable income, and price gougers would adapt if that was the situation, it seems.

[@sudipmasoji5190]

Should anyone in the free world care???

[@zzdlover2005zz]

Thai SMEs are crying right now because they dumped these goods into the market.

[@wheezysqueezebox7651]

Who wants to watch Livestreams, selling useless junk, when you can barely afford to eat?

[@Phobos11]

During times of crisis, alcohol, gambling and women are the only businesses that always thrive

[@vincenttay2812]

Eat grass

[@lammatt]

The problem is the propaganda isnt admitting business is slow now. People would think things are still like how it used to be

[@lifesyphon1]

“I’m not doing anything anymore!” Bai lan! People are giving up! 😢

[@OffendingTheOffendable]

E-commerce is trash.

[@cutliss]

Not if you can make a living off it

[@bwhog]

If China eases up on its restrictions and actually allows people to run a fair business, the experience that these young people are getting right now will be very useful to them in the future. I'm talking about understanding business environments, tight margins, cost controls, and so on. If these people are ever allowed to be free, they are going to be the ones that rebuild China.

[@alistairogilvy7696]

17:07 isn't that the iconic Japanese character Doraemon? Yeah, patriotism all the way lol

[@nikedoesthings]

And Buzz Lightyear 😂

[@mikestewart4752]

Congratulations on your sponsorship!!! 👍👍

[@lance8080]

Taiwan 🇹🇼

[@SeelkadoomTHS]

So much of Shanghai being the international global marketing

[@RatTerminator]

GOOD 🇺🇲

[@eikooowiesnowyowlchannels1921]

Winnie closing yiwu market

[@GizzyDillespee]

Most of that stuff looks like cheap junk... barely the minimum viable product. Who wants to buy that?

[@koilamaoh4238]

Sad about cheap stuff, its rebranded junk of other rebranded junk off of other rebranded junk... By the time you actually find the legitimate seller that actually own the actual product, what chore, honestly. There are actual quality stuff in china and lot of pooor quality..

[@nicholasrockall7308]

everything in China looks like cheap junk, including their society.

[@allisonangier1631]

You explained the vicious cycle very clearly and poignantly. The whole world is headed for a really tough decade. China’s not alone.

[@kevintmerk]

China is getting the squeeze….the suffering was brought on by the Dictator of China. It will not be a tough decade for the rest of the world. The world grew wary of Corruption/Communism. This is not a cycle.

[@lance8080]

China is finished back to rice farming 🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳

[@NnEpRiS]

pirated industry is down😂

[@burningpentagram666]

Oh dear. How sad. Nevermind.

[@pascalhenry1001]

amazing to see those excess inventories of low quality craps ! !

[@venterpete]

Remember! China is NOT a capitalist country at all! Hahahaaha

[@MeongMiao]

Failur version.

[@DC-wo2yb]

They’re literally using capitalism to run businesses and run ecommerce, numb nuts

[@tinaalmeidam4479]

Just an idea from East Coast USA ... Monday cooking stuff throw in a gift for the person who spends the most or raffle everyday. Tuesday clothes, Wednesday personal items etc. build your own clients and keep up the reputation.

[@axl1002]

You can fool the people only for so long.

[@blindsniper35]

And then they wonder why they're starting to get hit with anti-dumping duties

[@sionara11]

Factories want to reach the end consumers directly, there's no longer a hierarchy. They cut an entire industry out of the game. Bulk buyers are hesitant to spend, they bankupted them in some cases.

[@coinsadventurer]

it's dumping mainly to Thailand, how all over market are cheaps, and then exporting also to other Asian countries from Bangkok

[@mattanderson6672]

Rise up People of China

[@liowyew]

This is one side of the story. Chinese goods still coming to Malaysia.

[@FunboyMacphallush]

I want to be that customer that walks into a store that hasn't seen a customer in days, enthusiastically looks at everything in the store for 45 minutes, and buys a comb for 50 cents.

[@johnboon4731]

90% E-COMMERCE WOULD CLOSED SHOP TILL 2030.🙈🙈🙈

[@HEALTHANDWEALTHCHANNEL-h6o]

Hold olympics every half a year Problem solved

[@jemiez9383]

I dont even know how do they even make a profit by sending all the unsold/leftoever products to South East Asia. Sure,the item listed will be cheaper per unit but the funny thing is,the shipping cost alone will be more expensive that the products price.😂 They thought SEA is their last resort but even here,sellers or buyers is now prioritizing value & cheapers products bcause of current economic situation. Even here,most sellers now depended on regular or loyal customers bcause acquiring new customers is very hard now.

[@happyzahn8031]

Sad. The era of cheap plastic toys with cheap shipping is over. It was kind of criminal of China the way they were able to outcompete the rest of the world but not without consent of the world, at least the consumers.

[@allykhan8594]

Nice place yiwu

[@stellviahohenheim]

Please do not dump your garbage into my country, people want cheap products but not that cheap that it's worthless

[@MeongMiao]

I recommend them to read bible.

[@JB-yb4wn]

Yeah, lots of BS in there as well.

[@MeongMiao]

@@JB-yb4wn Non believers at the time of prophets have thought like you, and what they leave for us today, nothing. You'll be ended like them.

[@Angel_the_Bunny]

I feel bad for the Chinese people. Saying that, I am so incredibly sick of low quality crap products from China.

[@vincenttay2812]

Thank you for your garbage

[@shundi4264]

US$1.6B down the drain

[@mah7961]

Kinda of like them CN made submarines that keep sinking at port and at sea. Wonder how much money went down the drain on those endeavors. lol. .

[@shundi4264]

Submarine photos are fake

[@shundi4264]

@@mah7961 Submarine images are fake

[@shundi4264]

Those submarine images are fake

[@mah7961]

Sure you keep telling yourself that. Despite what the satellite images show. lol.

[@colinewen8536]

Sounds like an very very OVER SATURATED market. Besides what can you sell to people who already have everything they need, especially now when people are looking at just making ends meet & having the basics.

[@MISTERPRESIDENTELECT]

These people don't know what they're doing. I will go to Yuma, and make 1 million yens in the first month!... How many boneheads used that as a business motto?!

[@TheAcadianGuy]

What a huge amount of waste

[@nightshade6433]

If everyone is a broke delivery driver who are they delivering food to? Just curious lol

[@markrix]

This + cheap usa shipping from china = temu

[@social3ngin33rin]

Oh F!!!! This channel has a paid sponsor now!!!!!! Big leagues now!!!! Gj lol

[@ariekabana8843]

Temu trying hard to inside indonesian market, but the indonesian goverment clearly reject no matter what😊😊😊

[@MasticinaAkicta]

Monkey See, Monkey Do. They don't think it through. If ONE food stand in a street has good sales without months there are over forty in the same street... and it crashes again. Like lemmings over a cliff. I know that China is having a shitty time but seriously, take three minutes to think... what is long term a better solution?

[@Knowbetter69]

China done

[@vincenttay2812]

Quit or phase out if you cannot compete. Garbage

[@miketan4803]

Sadly that's what happens when politicians attack their customers. Who wants to give money to others who talk about militarily going against your country. Only some ASEAN countries still asleep with bullies

[@Velereonics]

yeah like we don't have selling live streams in the US. And the fact that there are like thousands of people doing that in China successfully and then thousands more who are unsuccessful is just crazy like who is watching these fucking streams. Like when they started the streams on Amazon with people who are like doing basically telemarketing, people mercilessly march that like just unendingly. And I don't know if people mock the ones on TikTok that are doing it I assume they do cuz I don't get odds for it anymore on KZbin but KZbin they mocked them as well It was like it's so cringe and embarrassing

[@MourningMoons]

They got so used to selling garbage, around the world. Now they are stuck with it.

[@ChrisB-ki9ch]

Yiwu trade city was phenomenal in 2010

[@paulhyland7456]

Roll up, roll up. come on everyone, buy cheap Chinese crap.

[@u2ber888]

Oh really?

[@mikami5799]

WTF is Yiwu? Speaking like everybody knows wtf it is

[@ishaks8152]

Their business strategy is undercutting and you can't 🏆 win.👅

[@dgam4211]

grab that bag

[@PSALM_6012]

HALLELUJAH JESUS IS GOD ALMIGHTY

[@enrique88005]

So they all just reselling stuff

[@OffendingTheOffendable]

TPOO TOKTOK

[@Baconstraps]

Oh well 🥱

[@kakarott5243]

I'm rather disappointed by the doing of the hackers as they truly fail to show their skills and degrading themselves to the level of a scammer, if you're a hacker then you should try to hacked into the accounts of the rich and corrupted, not the old and poor. As for Yiwu, it's also known as one of the three city of counterfeit in China......

[@JB-yb4wn]

What are the other two cities?

[@kilnmaster]

Not a fan in yiwu. Junk sales

[@nishantahvan]

South Asia mean India 🇮🇳

[@lance8080]

Japan 🇯🇵

[@denzel5911]

👀

[@Takeitlightly6]

Temu is here….also tiktok market..nobody is buying from anywhere else.

[@Aldocortes11]

哈哈哈

[@kamillatocha]

12:08 who wants to livestream to sell cloth hangers ...........

[@Wumao50centarmy]

Chinese stocks are flying up and it's because of channels like this , I thank you for making me millions .

[@nicholasrockall7308]

If you've really made millions, which I seriously doubt, I'd cash out quick because those stocks won't stay up for long, see where they are within the next six months.

[@Phobos11]

Nice troll, great name 😂

[@JinxTravel]

As someone who is in Yiwu right now i can confirm this video is false on many levels.

[@JB-yb4wn]

Well sure, CCP agent, tell us some more fairy tales.

[@nookietan4329]

Fake news

[@rodolfollanera5936]

Chinese are wise people. You ask help to the president.

[@user-kg2ez1eg2y]

There is a large sales market in Russia, which could have saved Chinese production of goods, but the Chinese Communist Party decided to obey capitalist Washington and impose sanctions on imports of goods to Russia😂😂😂

[@jasejj]

If they hadn't, that would have been China's whole economy, apart from a few scraps sold to the Russkies, done.

[@kennethsharp9666]

Good.

[@vincenttay2812]

Full of garbage propaganda

[@PINKFL0YD-s2h]

I pay for no adverts. I use ad blocker so you put them in the video. I'm UNSUBSCRIBING.

[@shundi4264]

Scripted videos are funny

[@MapleovBacon]

Like yours, right?

[@shundi4264]

@@MapleovBacon Take care not to be overdosed with US$1.6B propaganda

[@basscannonjake1235]

Scripted wumao bot comments are funnier

[@shundi4264]

T

[@carstenkh]

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