Tuesday, March 21, 2023
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Covid in China: Bankruptcy of China due to Corona? Sugar longing for salary forced to beg; Now uproar against Jinping 

Protest for Salary in China: Corona has created a ruckus in China. People are finding it difficult to get proper treatment. Meanwhile, there is news that people are very upset due to not getting their salary. Distressed people have opened a front against the Jinping government. People are seen protesting with banners in many cities. 

Demonstration against President Xi Jinping for not getting a salary in China. (Photo video grab twitter/@247ChinaNews and Reuters)

Highlights
  • Salary is not being received in China due to Corona.
  • People’s anger erupted against the government.
  • People came out to protest on the road.

New Delhi. Corona (covid crisis in china) continues to wreak havoc in China. Kovid-19 (covid-19) has caused a lot of damage to China economically. People here have no money left. People are very upset due to not getting their salary. Recently, a video of people begging for medicines at a medical store went viral on social media. Now people in China have taken to the streets in many cities demanding their salaries. Its video is also going viral.

247ChinaNews has shared a video on Twitter. In this video, a guard in plain clothes can be seen protesting (white guard protest). It has been claimed that the guards are protesting due to non-payment of salary. At the same time, in many cities in China, people are very angry about not getting a salary. People are seen protesting for their salaries with banners in their hands. Along with this protest, the question is also arising whether China is hiding its debt crisis.

In this video, white guards in civilian clothes who have not received their wages protest.

Does China or its provinces have a hidden debt crisis?#China #ChinaEconomy #ChineseDebtCrisis pic.twitter.com/M5QDitXobl

— 247ChinaNews (@247ChinaNews) December 28, 2022

Significantly, due to the Zero Kovid policy, the economic activities of the country are quite sluggish. Because of this, the revenue of the provincial and local governments has also decreased. According to a new report by the Bank for International Settlements (BIS), the amount of debt in the non-financial sector in China has reached $51.87 trillion. This is 295 percent more than China’s gross domestic product (GDP). Since 1995, China had never had so much debt. 

According to the Beijing-based think tank National Institution for Finance and Development, at the end of the year 2020, the debt in China reached a high level. Now it has become more than that. The institute says that the Corona epidemic has been a major reason for the increase in debt, but China’s long-term prospects are also not looking good. The organization also expressed apprehension that with the decreasing population, the expenditure on social security by the government will also increase.




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