Wednesday, February 21, 2024

Is China collapsing, mass layoffs, panic shopping?

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Mass layoffs in the IT sector have also reached China: Xiaomi is going to lay off 10-15% of employees. In addition to the global crisis, which is now gaining momentum, Chinese manufacturers have also faced numerous negative consequences of regular lockdowns, which have led to both a decrease in output and a collapse in sales.



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Panic occurred in the stores, where the goods were not enough for everyone.

The Chinese are fighting over oranges because they are high in vitamin C, which they believe will help against COVID-19.

Yesterday, 37 million people were infected with the coronavirus in China. This is 18% of the country's population. Such dynamics causes panic among the population.



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