- Tech multinationals are moving out of China fast. Apple is mandating Foxconn to move 50% production lines to India by 2024. And anticipates 50% iPhones out of India bu 2027 https://techwireasia.com/2023/01/india-is-anticipated-to-pro.... Most of the downstream apple supply chains in China have all left for Vietnam. Dell is going to cut all ties to China by 2027 https://www.tomshardware.com/news/dell-made-in-china-us-exit. HP and LG is quietly exiting as well. Samsung has already left China a while back.
- China factories are closing left and right, and there's actually a long line of labors going back to countryside to farm, or waiting to go to Vietnam to work. You can see in Chinese citizens videos such as https://www.youtube.com/@ZGQSL https://www.youtube.com/@realchnrecord or English channels like https://www.youtube.com/@chinainsights4458
- According to the office for national statistics in China, for jan/feb of 2023 http://www.ce.cn/xwzx/gnsz/gdxw/202303/27/t20230327_38464161..., car manufacturing profits is down 41%. non-metal products manufacturing profits is down 39%. chemicals manufacturing profits is down 56%. electronics manufacturing profits is down 71%!! In fact, all businesses have dropped 22% in profit. This is supported by empty malls in Shanghai, Beijing, and Shenzhen, as well as 50% collapse in real estate prices in Tier 1 cities.
- There are 7 stories high stacked shipping containers in all major ports in China. https://www.scmp.com/economy/china-economy/article/3210870/c...