Chinese live streamer does $2bn of sales in one day

A similar format has been running on cable television in the US for years as the Home Shopping Network or QVC.

Amazon is getting in on this too.

https://www.amazon.com/live

Yes, live TV shopping channels had been a Long term stable in many (all?) EU countries and beyond.

Moving from live TV to streaming allowed a bit more flexibility in being able to try it things and sales people in parallel.

But this isn't the main point of why is so successful in China.

The main point is potential reach, China has a population of 1411 million the US one of 333 million, and the EU is split in many countries and languages.

Another factor is that at least in Germany most younger people grew up with live tele shopping being a thing, a thing which they are good it's a skam they should not bother watching.

This had the effect that most of it still targets older generations.

if you are going to talking about Chinese government policies, at least be accurate. Chinese government is not going to bail out Evergrande. If worst comes to worst, they will break up Evergrande's assets to pay consumers, contractors and investors. Chinese government doesn't side with big corporations. The Anbang story illustrated that. WSJ had a rumor that Chinese government asked Evergrande CEO to pay the company's debt with his own money. Of course legally that seems out of whack and I question WSJ's source. WSJ has a long track record of writing news about China that turn out is not true, and they justify authenticity under "A source close to the government", "a source close to the matter". Well, I can make up store and say "according to my source close to the government". Nevertheless, but principally I agree. Evergrande CEO pocketed tons of wealth by recklessly taking debt and expanding the company. This recklessness has now resulted in home buyers sinking their entire life savings into unrealized homes and construction contractors held on the books and going bankrupt. Who gained from all of this should pay right? And for common prosperity, there is already lot of work being done and talk about future plans, including health care, education, housing, creating jobs, foster the creation of companies and industries. Diverting resources in the society to undeveloped areas to provide more opportunities. Common prosperity is also not about taking from the rich and giving to the poor as an handouts. Though there will definitely be handouts. Primarily, wealth is still gained by doing hard work. So it is about giving an leveled playing field and more opportunities to go up the economic ladder, attempt to reduce the advantages the rich has over the poor.