Beijing's Industry Collapses: Top Engineer Now Jobless After a Decade

When I came here, I was only 24 years old. Now I'm already 35 years old. Beijing's industry collapses. Top engineer now jobless after a decade. Friends, I feel really bad right now. I had another quarrel with my wife last night. We were originally discussing whether to actually sell the house. Then we talked about the issues with my original family, and that led to a quarrel. In fact, I feel really bad. When I coaxed my son to sleep last night, I cried while telling him a story. I feel like a failure. I have been in Beijing for more than 10 years. When I was young, I was full of vigor and vitality. I wanted to achieve something and provide a good life for my wife and children in the future. But now, I don't have a good life, and I still owe a lot of foreign debt. The blogger said that sometimes he understands why his wife quarrels with him. From her perspective, as a husband and the head of the family, he should have been the one supporting them. But now, not only does he fail to do that, but many things still require his wife to manage. In recent years, his mother-in-law and father-in-law have helped them a lot, not only by taking care of the children, but also by providing financial support. He was especially grateful because he was not an ungrateful person. I also wanted to become independent earlier and not let them worry about me, but I haven't managed to do it yet. Looking back, I have been in Beijing for more than 10 years. My youth and career are gone, and now even my home may be gone. I don't know whether Beijing is worth staying in or if there is any meaning in staying. But if I leave Beijing, where can I go? My hometown has not developed at all. Go to my wife's hometown? Farm? It may not be realistic. And sometimes, deep down, I feel very unwilling. I can't believe that in such a big city like Beijing, there is no place for me to stay. Do I really have no way to take root and establish myself here through my own efforts? But now, now I am also confused. Should I leave or stay? I am a programmer at a large Internet company. I have been with the company for almost 14 years. This layoff was actually within my expectations, and I received N plus 1 compensation. Since I started working, I have been working overtime every day. On top of that, I have very poor sleep, my body has been severely overworked, and I have undergone two cancer operations. In fact, I think that being able to persist until now, for the sake of my career, has been an achievement in itself. At present, she has sold her house in Beijing, and is about to end her 18 years of drifting in Beijing to return to Shandong. I've finally made it. I've been waiting for so long. But I still feel sad when I think about leaving. When I think about everything I've experienced in the past 18 years, I feel a deep sadness. I hope I can restart my life when I go back. My husband and I will end our life in Beijing and return to our hometown today. This time, I may never come to Beijing again. I was only 24 when I came here, and now I'm 35. As long as you have been to Beijing, you will feel extremely happy no matter where you go. I'm tired of Beijing. I'm really tired of Beijing. Why do people choose such a difficult way of life for themselves? China's current economic situation can be said to be worse than before. Many Chinese men can no longer afford family expenses. According to a survey by CICC, among the 1.4 billion people in the country, only 700,000 earn a monthly salary of more than 20,000 yuan. The so-called labor support rate refers to how many people an adult can support. So what does this data mean? Simply put, the income of many Chinese men is no longer enough to cover family expenses, and this issue is not an exaggeration. The data is indeed accurate. In the United States, the labor support ratio is about 4.8, meaning one adult can support 4.8 people. That's why you see many American families with full-time housewives and multiple children. In Japan and South Korea, this indicator is also 3.8, meaning one adult can support 3 to 4 people. What about China? Our labor support ratio is 1 to 1, which means one adult can only support themselves. In other words, it is almost impossible for a wife to be a full-time housewife and raise a child. This year, at the end of the year, some abnormal events, some things will suddenly happen. I feel that there will be more. The blogger said that at the end of the year, events such as creditors demanding debts and bosses running away often break out in a concentrated manner. He suggested that if you owe someone money, in previous years, you might have been able to argue, but this year, try to pay as much as possible, safety first. Don't be the last straw that breaks the camel's back. IBM China Investment Company suspends operations. About 1,800 employees unemployed. The International Business Machines Corporation, IBM of the United States, has officially ceased all business activities of its investment company and branches in mainland China. All related offices in Beijing, Shanghai, Dalian and other cities have been shut down, marking the end of IBM's 30-year local R&D system in China. On Saturday, March 1, IBM, China, Investment Co., L&D, IBM V and its branches officially ceased all business activities. About 1,800 R&D and testing employees in Beijing, Shanghai, Dalian and other cities lost their jobs overnight, and its office equipment in Beijing's Huanyu building is being dismantled. In response to inquiries from Chinese media, IBM stated that it is currently integrating product development functions worldwide. Following the adjustment of its Chinese laboratory last fall, IBM V, which originally handled IBM's product development functions, has completed its main mission and is therefore closing as planned. IBM stated that the closure process will be carried out in accordance with relevant Chinese laws and regulations. However, IBM, China, Co., L&D, as IBM's business entity in China, will not be affected. Its statement read, Our business focus remains on helping Chinese companies seize the opportunities brought by hybrid cloud and artificial intelligence technologies. These changes will not affect our ability to support customers in Greater China. According to available data, IBM V was established in 1992 as IBM's first wholly owned subsidiary in China, primarily responsible for managing research and development operations in the country. In its early years, the company focused on manufacturing large-scale hardware, generating substantial profits. In the early 21st century, joining IBM in China was considered highly prestigious. In 1994, after Lou Gerstner took over IBM, he transformed the company into a provider of comprehensive services, including software sales and consulting. At one point, IBM's software sales performance in China far exceeded the combined sales of Microsoft and Oracle. However, with the rise of the Internet in China, numerous local Internet technology SMEs emerged. The cloud services offered by these low-cost, relatively flexible companies quickly captured the market, leading to a continuous decline in IBM's performance in cloud computing and artificial intelligence in mainland China. According to financial reports, IBM's revenue in the Chinese market dropped by 19.6% year-on-year in 2023, and its sales in China declined by 5% year-on-year in the first half of 2024. This was one of the main reasons for the company's overall revenue slowdown in the Asia-Pacific region. Starting in 2023, some IBM personnel responsible for projects in China were reassigned to IBM's offices in India and other Southeast Asian countries. Following this, an individual claiming to be an IBM employee posted in an online community, stating that he had been laid off without any so-called buffer period. The employee also revealed that about 1,600 IBM China employees had left last year. Under related reports by mainland media, Chinese netizens had much to say. A Shanghai netizen wrote, IBM still has three large companies in China. The task of developing servers has moved abroad, but it is likely that other companies will gradually withdraw later. The trend is clear, just like a play. When the economy declines, Chinese men lose their jobs, go bankrupt, and their marriages quickly falter. In a society ruled and educated by the CCP, where money determines status, many women are willing to leave their husbands as soon as they can no longer provide. Marriage is no longer a strong bond, but an exchange based on benefits. Once successful Chinese men, after a fall, not only lose all their assets, but also their families. When they are rich, they are the pillars and pride of their wives and children. But when they fail, they are seen as a burden. Many women do not want to suffer with their husbands, but choose the path of divorce to seek a better life. Chinese men who fall into bankruptcy not only face financial pressure, but also suffer the betrayal of their loved ones. In today's Chinese society, poverty not only leaves men penniless, but also causes them to be abandoned without hesitation. Today, let's learn about this topic together. Today, I am divorced. Do all families in debt have to divorce? My wife and I lived together for 30 years. Before, when I was at the peak of my career, I owned 3 companies, 4 houses, 3 cars, and had savings in the millions. Every time my wife bought clothes, it cost her more than 10 million, and every year her beauty expenses amounted to hundreds of millions. On holidays, I gave my parents-in-law pocket money, each time in the tens of millions. But I always thought that men earn money, women spend money, all for a warm home. I never complained or blamed anything. But reality gave me a painful slap. Since I got into debt, my wife argued with me every day, unable to bear the hardships of life, and finally decided to divorce. But are divorced families really happy? Thinking of my elderly parents seeing their family broken, how heartbroken they would be. Thinking of my poor child returning home to a cold place, without the love of his parents, without the warmth of happiness like before. In the eyes of his peers, my child is being pointed at and gossiped about. Just thinking about it makes me feel infinitely heartbroken. What about me? At night, without a partner by my side, there is only hardship and loneliness. There is no one to confide in, no one to talk to. Therefore, I want to advise those who are thinking of divorce. If the other party does not violate moral principles, do not decide to divorce over a little financial difficulty. When getting married, didn't you swear that whether rich or poor, you would share the hardships together until your hair turned gray? Now you feel that your marriage is not happy. But are you sure that the next marriage will be more fulfilling? Are husband and wife really like birds in the same forest, flying away when adversity comes? The purpose of marriage is to enjoy happiness together, share hardships together, and face the ups and downs of life together. That is the true nature of marriage. I am 36 years old this year. My company went bankrupt, my factory closed down, and I am in debt for more than 3.6 million yuan. Now, I really have nothing left. The only thing I have left is a huge pile of debt and myself. After I got into debt, my wife very decisively asked for a divorce without hesitation. Only then did I truly understand what it was like for a husband and wife who once shared a bed, but, in times of trouble, went their separate ways. My close brothers and sisters also turned their backs on me when I went bankrupt. I finally understood that when I was rich, even in remote places, people would still come to me. But when I was poor, even in the middle of a crowded market, no one would care. When I fell into dire straits, even the closest people turned their backs. These things made me feel extremely depressed, but also taught me a lesson. People can only rely on themselves. Today, my mother called me. She repeatedly asked, how much do you owe? I didn't dare to tell the truth, so I lied and said I only owed 500,000 yuan. My parents were stunned upon hearing that. Then they said they would use all their retirement savings to help me repay the debt. But I knew I couldn't let them do that. I had to take responsibility for my own mistakes. I had no right to make my elderly parents pay for me. I once thought about ending it all. But when I looked back at my parents and children, I realized I couldn't. No matter how difficult the road ahead, how hard it gets, or even if I have to crawl or kneel, I will keep moving forward. As long as I'm alive, there's still hope. I will prove to those who look down on me that I can make it. People like me, those who have failed and fallen into debt, don't give up. We will use our actions to show that we can stand back up. Let's push forward together, guys. Today, I am completely broke. Everyone must have seen what happened in the past few days. Now, my store is closed, my wife has divorced me, and all my assets are frozen. This is where I stand now. A few years ago, I partnered with a friend to open an electronics store, investing about $3 billion. Over the past four years, due to the impact of the pandemic and tough business conditions, the store couldn't survive and had to close. Now, I have nothing left, not even a penny to spend. The irony of starting a business is overwhelming. In just one night, I lost everything. Now, I don't even know how I will get through tomorrow. At 36, I am buried in debt. I wonder if anyone can understand this feeling. I went to my relatives, friends, even people I had helped before. But no one was willing to help me. Only then did I realize how tough life truly is. Only now do I understand the true nature of family, friends, and brotherhood. When I had money, and others needed my help, I never turned them down. But when I was in trouble, no one was there for me. If a man has no income for more than a year, the divorce rate is as high as 85%. This is what blogger Basan Min Thuk once said, and now I find myself living that reality. I haven't posted anything recently because I've been dealing with it. My wife made it clear, she no longer loves me. She feels I am no longer worthy of her because she has her own goals. In the past, I tried to hold on, tried to change myself. But in reality, this conflict had been building for years. When the shock of unemployment hit, the pressure of life reached its limit, and everything collapsed. To those who haven't reached this point yet, I just want to say, cherish the one beside you. Husband and wife are meant to face hardships together. When the time for change comes, it might already be too late. Still, I will not give up on myself. A sad truth. If a man's income is interrupted for over a year, the divorce rate can reach 90%. It has little to do with how much he made before. As soon as the income stops and the family can no longer maintain its lifestyle, separation often follows. Looking at recent cases, the pattern is clear. Most men who once had high earnings but then suffered a financial collapse ended up divorced. It's heartbreaking. When a man is unemployed, when he has no money, he faces the risk of losing his wife and children. Right now, a wave of divorces is sweeping through unemployed and failed businessmen. Chinese men are entering an era of poverty divorces. In the past, women flaunted their divorce papers online, often due to their husband's betrayal or domestic violence. But now it is men who are left raising two or three children alone, living in solitude after middle age. They lose their jobs, go bankrupt, and have no source of income. When men are no longer providers and cannot temporarily support the family, some women find an excuse to argue and then ask for a divorce. Some even quickly find a replacement, someone who can continue to support them. After fighting over assets and child custody with their ex-husbands, they start a new life, leaving the man with a broken home, losing half his life, wandering like a homeless soul in a cold world. After years of struggle, they end up empty-handed. The man who once had a career suddenly finds himself back at square one, wearing worn-out clothes, eating frugally. His life couldn't be more miserable. When material wealth collapses, the spirit follows, leaving him no different from a drifter. Many brothers cannot understand why the gentle, kind wife who stood by them for over a decade couldn't endure hardships with them and start over. Don't be naive anymore, brothers. Before, she was with you because of your status. When you were young, you had health, education, ability and drive, so you had value. But now, you've declined. Your strength has faded, your determination has weakened, and you have no money, no economic value, no emotional value. Who would want to live a life burdened by house debt, car debt and credit debt? Even your own parents might begin to distance themselves from you. Buying a house in China has always been a major concern for families, especially for the older generation. They see owning a home as essential for stability and a symbol of social status and economic strength. The saying, golden nest, silver nest, not as good as your own straw nest, reflects their deep attachment to real estate. However, soaring housing prices in first-tier cities have discouraged many working-class people, with even the middle class feeling the strain. Young people face a long and challenging process of saving, borrowing and repaying loans, leaving many feeling overwhelmed as they start their careers. Not all housing prices in China are intimidating, though. Some cities offer surprisingly low prices. Among them is Hebei City, ranked ninth among the most affordable housing markets. Located in northern Henan Province, Hebei is rich in natural landscapes, historical resources and cultural heritage. By 2022, its population had reached 1.57 million, and high-speed rail links make Zhengzhou just 30 minutes away and Beijing 2.5 hours away. Hebei has gained attention for its exceptionally low housing prices. The cost of a parking space in a big city can buy a house, or even several, in Hebei. With average house prices at 7,832 yuan per square meter and as low as 1,465 yuan per square meter, about 200 U.S. dollars, in Shancheng District, it's no exaggeration to call them cabbage prices. Some buyers have reportedly acquired eight properties for just 100,000 yuan. Such low prices come with challenges. Hebei is a shrinking city with limited economic growth, job opportunities and underdeveloped infrastructure. Many young people leave for larger cities, leading to population decline and reduced housing demand. Despite convenient transportation, Hebei's marginal location limits its access to the economic benefits of nearby big cities. While low housing prices may seem appealing, they are only one aspect of life. Without clear goals and career plans, those attracted by affordability risk falling into the cost-effectiveness trap, even after escaping the pressures of competitive metropolises. Located in western Guangxi Zhuang Autonomous Region, spans 36,252 square kilometers with a population of 4.21 million. As a transportation hub connecting China to ASEAN, Baez features a subtropical climate, rich natural and mineral resources, and a vibrant cultural heritage, including the Zhuang ethnic group and landmarks like the Baez Uprising Memorial Park. Housing prices are remarkably low, averaging 5,071 yuan per square meter for second-hand homes and 4,697 yuan per square meter for new ones. These prices reflect lagging economic development, low incomes, scattered population distribution, limited demand and stabilization policies. However, poor infrastructure in suburbs and new zones hinders competitiveness compared to coastal cities. Autonomous Region is known for its unique geography and natural beauty, including Helen Mountain and Xinhai Lake, alongside cultural sites like Yuhuang Pavilion. Despite its charm, housing prices average only 3,986 yuan per square meter due to low demand in a saturated market. Once thriving on coal resources, the city's economic decline following coal depletion led to a population exodus and plummeting housing demand, leaving properties unsellable even at bargain prices.