China's Economic Situation Is Very Serious; People No Longer Tolerate It?

China's economic goals increasingly unattainable, social protests on the rise. Shocking! Moment small plane crashes onto road in Dalian caught on camera. Chongqing ground surface hits 70 degrees Celsius, becomes flame mountain, netizens everywhere, people are cooked. Chinese official defends himself after foreign media interview backfires, draws more criticism. British media, CCP's repeated attempts to contact Trump's team fail. U.S. National Security Advisor Sullivan meets with Xi Jinping in Beijing. It's all covered in today's China Truths. China's economic goals increasingly unattainable, social protests on the rise. Over the past two years, the Chinese economic downturn and real estate crisis have weighed heavily on areas like employment, consumption and household wealth, fueling growing public discontent and leading to an increase in protests across the country. According to a report released by the U.S.-based human rights organization Freedom House, data from the China Dissent Monitor indicates a sharp rise in dissent cases, up 18% in the second quarter compared to the same period last year, with the majority of incidents linked to economic issues. Labor disputes made up 44% of these cases, while 21% involved affected homeowners. Despite tighter surveillance and internet controls under current CCP leadership, protests are still emerging. The report warns that the Chinese Communist Party faces significant economic challenges that could evolve into broader governance issues. As China's living standards show signs of stagnation after decades of growth, citizens are grappling with a slowing economy and dwindling confidence. Beijing's efforts to stimulate the economy are being hampered by the real estate crisis, the ongoing trade war with the U.S., crackdowns on private businesses, and costly pandemic lockdowns. Data further revealed that protests by homeowners and construction workers account for 44% of all cases documented in over 370 provincial-level cities. Experts from a New York asset management firm have noted that the economic slowdown is challenging the CCP's ability to govern effectively. They said, the increase in protest signals that government policies are falling short. When the public focuses on immediate needs, the government's long-term strategic goals become unattainable. The Wall Street Journal has brought to light the findings of an extensive long-term study encompassing tens of thousands of Chinese participants. This study, conducted by a team of researchers including Harvard sociologist Martin King White, Stanford's Big Data China co-founder Scott Rozell, and experts from the Research Center for Contemporary China at Peking University, has revealed a profound shift in Chinese attitudes towards poverty over the past decade. The study indicates that whereas individuals once attributed poverty to personal failings or a lack of effort, there is now a growing tendency to place blame on unequal opportunities and an unjust economic system. This notable shift reflects a diminishing confidence in the economic leadership of the current government and a rising sense of pessimism pervading Chinese society. According to Voice of America, Dr. Su Quan of City University of Hong Kong stated that amid the economic downturn, social mobility in China is slowing significantly. Inequitable distribution of resources is leaving young people without opportunities for upward movement, leading to lost hope and rising pessimism. Meanwhile, Wu Jiumeng, an assistant professor at HSIN University in Taiwan, noted that amid the state advances, private retreats trend, the CCP has extended political interference into the economy, exemplified by Alibaba chairman Jack Ma's forced retirement. This crony capitalism has fueled discontent among young people. However, under the CCP's strict control, public grievances have few outlets, creating a social volcano that continues to simmer. The rise of phrases like historical garbage time reflects the public's waning hope for CCP reforms, closely tied to the CCP's increasingly authoritarian governance. Amid this backdrop of social unrest, UBS Group AG, a Swiss multinational investment bank, has unexpectedly slashed its economic growth forecasts for China for this year and next. This revision is attributed to slower consumer spending and a deeper-than-anticipated decline in the real estate market. UBS now predicts China's GDP will grow by 4.6% this year, down from the previous estimate of 4.9%, and projects a 4% growth rate for next year, lower than the earlier 4.6% forecast. The adjustment comes after weak performance reports from several major Chinese consumer companies this month. According to Bloomberg's August 29 report, economists believe China's annual growth targets are becoming increasingly hard to achieve, with the struggling real estate market significantly hurting domestic demand and confidence. UBS economists, including Wang Tao, noted in their August 28 report that the impact of weakening real estate activity on the broader economy will likely be greater than previously expected, particularly affecting household consumption. China has set its economic growth target at around 5% for this year. However, after the country's economic growth rate fell to its lowest level in five quarters during the second quarter, many analysts have sharply reduced their forecasts. Banks like J.P. Morgan and Nomura Holdings are also skeptical, predicting growth rates of 4.6% and 4.5%, respectively. A Bloomberg survey in August shows economists have further cut their expectations for third and fourth quarter growth to 4.6%, down from 4.7% in the previous survey. Despite China easing real estate policies since late 2022, including lowering down payment requirements, reducing mortgage rates, and easing home purchase restrictions, the slow implementation of these measures has had limited impact. UBS economists pointed out that the fundamentals of China's real estate market have changed, with slow income growth, weak market confidence, high housing inventories, and sluggish inventory reduction presenting ongoing challenges. UBS now expects new home starts to bottom out and begin to recover only by mid-2026. Meanwhile, ongoing economic difficulties have also led to a prolonged slump in China's stock market, despite efforts by Chinese authorities to restore investor confidence. The CSI 300 Index, which tracks onshore Chinese stocks, has fallen 4.2% so far in 2024 and is heading for a record fourth consecutive year of decline. SHOCKING! Moment Small Plane Crashes Onto Road In Dalian Caught On Camera On August 28, at around 10.47am, a small plane suddenly crashed onto a road in Jinchitan, Jinpunu District, Dalian, Liaoning. Several videos circulating online show the plane plummeting from midair and landing near the greenery in the center of the road. The plane's tail bore the registration B10KP, and one of the wings was marked with Dalian-Honghu General Aviation. Vehicles were passing through the area at the time of the crash. Chinese media reported that a witness, Ms. Zhang, recalled that the plane seemed to lose control before making the emergency landing. She noted, We were just passing by and didn't see everything clearly. The plane almost hit our car, which was really scary. Another witness mentioned that they were driving between Dalian and Jinchitan, delivering goods, and passed by the scene shortly after the crash. By then, the plane was already on the ground, and they didn't observe any injuries or damage to vehicles. A representative from Jinchitan National Tourist Resort clarified that the plane was affiliated with the scenic area, stating, Our resort doesn't operate any such flights, and we're not sure where it came from. Chongqing ground surface hits 70 degrees Celsius, becomes flame mountain, netizens everywhere, people are cooked. Chongqing has recently been engulfed in a severe heat wave, with ground temperatures soaring to an unprecedented 70 degrees Celsius. As of August 28, 2024, China's weather forecast reported that Chongqing has experienced temperatures exceeding 40 degrees Celsius for eight consecutive days, with the extreme heat expected to persist for at least three more days. On August 28, the Chongqing Meteorological Bureau issued a Level 1 heat stroke alert, prompting the temporary closure of several tourist attractions and venues. A large outdoor screen in a Chongqing shopping district displayed the message, if 42 degrees Celsius autumn, Chongqing is full of cooked acquaintances. Many Chongqing residents have taken to social media to show just how hot it is, sharing videos of fruit drying under the scorching sun and turning into dried fruit in just two days. One netizen humorously noted, I wanted to take a cold shower, but the water coming out of the tap is boiling. Another video shows a frying pan placed directly on the ground, frying eggs in the sunlight. In one clip, a child who went out to play barefoot at noon ended up scalding their feet and rolling on the ground, crying loudly. Unable to bear the relentless heat, many Chongqing residents are driving out of the city to escape, causing highways to be packed with cars as far as the eye can see. To avoid the extreme temperatures, schools in Chongqing have delayed the start of the school year to September 8. Meanwhile, the Sichuan region has also been experiencing unusual high temperatures. On August 18, 2024, Chengdu, Sichuan saw the rare phenomenon of seven suns appearing in the sky. A netizen jokes, no wonder it's so hot, the suns are having a reunion. Chinese official defends himself after foreign media interview backfires, draws more criticism. On August 10, during his Al Jazeera interview, Gao Zhikai, a Chinese think tank executive and former translator for Deng Xiaoping, struggled to defend his points, turning into an international laughingstock. During the interview, Gao Zhikai repeatedly defended the CCP on sensitive issues involving Taiwan, Hong Kong, Xinjiang, and Tibet. The host highlighted contradictions in his statements, further ridiculing him on the international stage. Gao Zhikai later responded, stating that he is willing to endure criticism to appear on mainstream media and tell China's story well. However, experts are questioning how lies can effectively convey a true image of China. On August 27, Gao Zhikai posted a video on social media, defending his poor performance in the Al Jazeera interview. Gao Zhikai said, I would rather endure various criticisms and comments, but I am determined to tell China's story well and make our voice heard. Li Yuanhua, a historian based in Australia, responded, what he calls good is really passing off the inferior as superior, making the false appear real, and using lies to cover up the truth. His idea of telling it well is about portraying bad as good, rather than seeking truth from facts. The slogan telling China's story well was introduced by Xi Jinping as a propaganda effort. Commentators argue this does not reflect the reality of China. Li Yuanhua said, the so-called good story is fake, deceptive, and can never be told well because facts speak louder than rhetoric. People see the reality, not the polished story. Jia Lijian, vice chairman of the China Democratic Party said, when they talk about telling China's story well, they mean telling the party's story and beautifying the party's image. To them, the country is the party, and the party is the CCP. This has always misled the world. Essentially, telling stories about China for the CCP is about spreading lies, whitewashing tyranny, and it's deeply shameful. Gao Shikai also challenged mainland internet users, saying, if you think you can do better, then step up. If not, support me. In recent years, the CCP has intensified its crackdown on free speech, targeting dissidents and petitioners, with many victims fleeing abroad to share their own stories. Meanwhile, the CCP continues transnational repression, attempting to silence critics while heavily investing in external propaganda. Gao Shikai, who previously worked at China's Ministry of Foreign Affairs, served as Deng Xiaoping's translator and was recommended by former US Secretary of State Henry Kissinger to study at Yale University, where he earned a law degree. He currently serves as deputy director of the Center for China and Globalization and is a chair professor at Suzhou University. In 2021, Gao debated Hong Kong pro-democracy activist Nathan Law on the BBC. Struggling to defend his points, Gao called Law a fugitive, to which Law responded by labeling Gao a mouthpiece for the CCP. British media, CCP's repeated attempts to contact Trump's team fail. Ahead of the US election, Beijing has been actively trying to engage with former President Trump's campaign team, but all attempts have failed. According to the Financial Times, reported on August 28, 2024, the CCP's efforts to reach out underscore the hawkish sentiment in Washington and growing concerns about CCP espionage. The report, citing eight sources familiar with the matter from both the US and China, noted that Beijing even enlisted former Chinese ambassador to the US, Cui Tiankai, one of the CCP's top officials with extensive Washington connections, to facilitate contact with Trump's campaign team. Despite these efforts, nearly all attempts were unsuccessful. It was also noted in the report that some CCP officials and visiting scholars, believed to be acting as Beijing's agents, have already faced difficulties in arranging meetings with US lawmakers and are now encountering similar hurdles with Trump's team. Steve Yates, director of the China Policy Project at the America First Policy Institute, remarked that there's almost no benefit to meeting with CCP officials, emphasizing that Trump's stance on China is widely known and that such meetings carry the risk of being misconstrued. Dennis Wilder, a former CIA expert on China, observed that Beijing's vigorous attempts to connect with Trump's campaign team are perceived by some as mere intelligence gathering rather than seeking substantive dialogue. The report further said that as the CCP's overtures to Trump continue to fall flat, anti-CCP sentiment is rising across both parties in Washington. Beijing understands that, regardless of the election outcome, the US's hardline policies on China are unlikely to shift. US National Security Advisor Sullivan Meets with Xi Jinping in Beijing US National Security Advisor Jake Sullivan met with Chinese leader Xi Jinping in Beijing This meeting marks the first visit by a US National Security Advisor to China in eight years and follows talks between Mr. Sullivan and a senior Chinese military official earlier the same day. Mr. Sullivan's three-day visit aims to continue President Biden's efforts to maintain open communication and manage US-China relations, following earlier visits this year by Secretary of State Antony Blinken and Treasury Secretary Janet Yellen. According to a statement from the White House on the August 29th meeting, Mr. Sullivan and Mr. Xi welcomed ongoing efforts to keep communication channels open. They discussed key issues, including Taiwan, the South China Sea, and Russia's war in Ukraine. Both sides also addressed commitments on anti-drug efforts, military communication, and the safety and risks associated with artificial intelligence. These commitments were initially agreed upon by President Biden and President Xi during their meeting at the APEC Forum in San Francisco in November 2023. Chinese state media reports that Mr. Xi told Mr. Sullivan that China will continue to handle US relations based on cooperation and mutual benefit, while also firmly safeguarding its national sovereignty. Mr. Xu Ziyun, a senior analyst at Taiwan's Institute for National Defense and Security Research, told the Epoch Times that Mr. Xi's willingness to meet Mr. Sullivan might indicate that Chinese leaders view the Democratic Party's chances in the upcoming election favorably. Mr. Xu noted that US-China relations are expected to remain stable in the months leading up to the new administration's inauguration, and if the Democrats win, Kamala Harris might continue Biden's restrictions on technology exports to China. Following a lengthy discussion with China's top diplomat Wang Yi, the White House confirmed that Washington and Beijing are arranging the next call between Presidents Biden and Xi. After meeting with the leader Xi Jinping, Mr. Jake Sullivan confirmed that he did not discuss the upcoming US election with Mr. Xi or other Chinese officials but emphasized that any interference in US elections is unacceptable. As the November election nears, concerns about foreign interference, particularly from China, are increasing. Previously, during an April visit, Secretary Blinken acknowledged evidence of Chinese attempts to influence the US election process. Besides, US National Security Advisor Jake Sullivan highlighted a positive outcome of his visit, an agreement to arrange a call between the US Indo-Pacific Command and the Chinese Southern Theater Command to deepen military communication, ensuring continuity for future US administrations. Amid ongoing military threats, Taiwan reported increased Chinese military activity near the island. The Philippines also continues to protest China's aggressive maneuvers in its EEZ. Mr. Sullivan reaffirmed the US commitment to allies, upholding the rule of law, freedom of navigation, and maritime rights in the South China Sea. Don't forget to comment in the section below to share your opinions on today's topic with us. If you find the information helpful, please share this video with a friend to watch together. This will be a great source of motivation for our team to produce more and more quality and reliable videos. And also don't forget to like and subscribe to see more interesting topics from China Truths. Thank you for tuning in.