Researcher: The Era Of The CCP's Worst Financial Shortage Begins!

Researcher, the era of the CCP's worst financial shortage has arrived. 90% of Chinese youth fear falling ill. Chinese temples offer salaries over 10,000 yuan. Data reveals shocking reality. Hunan villagers protesting forced demolition for reservoir face brutal crackdown. Nanchang Aviation University sparks outrage over lavish dorms for international students. Chinese tech firms share employees to reduce costs, stir debate. It's all covered in today's China Truths. Researcher, the era of the CCP's worst financial shortage has arrived. China's broad money supply, known as M2, has reached an unprecedented 300 trillion yuan approximately $41.5 trillion, indicating a significant increase in monetary debt. However, this growth in M2 has not translated into a corresponding increase in GDP, which has been steadily declining, and inflation has nearly stagnated. As of February 2023, China's M2 stood at 299.56 trillion yuan, a year-on-year increase of 8.7%. This figure is not only double that of the United States but also nearly equals the combined total of the U.S., the euro area, and Japan. Even when considering differences in methods, China's M2 remains significantly higher than that of the United States. Historically, China's M2 growth rate has consistently outpaced its GDP growth rate, leading to a situation where China's M2 is now 2.3 times its GDP, compared to the U.S. M2, which is only 0.76 times its GDP. This disparity indicates that China's issuance of credit money has been growing at a much faster rate than its economic output, which raises concerns about the country's debt risk. Gong Xingli, a researcher at the China Finance Think Tank, predicts that China will experience its most severe money shortage in 2024.highlighted the dramatic increase in China's M2, which has grown 23-fold from 13 trillion yuan, nearly 1.8 trillion U.S. in 2000 to 300 trillion yuan today, approximately $41.5 trillion. He noted that the scale of China's economy has become unsustainable, and the country has reached its limit in terms of currency issuance. As a result, some provinces and cities in China have been forced to prohibit new investments. In January, Reuters reported that Beijing had instructed local governments and state-owned banks to postpone or halt construction projects in 12 regions facing severe debt problems. Furthermore, projects with an investment utilization rate exceeding 50 percent were ordered to reduce their investment scale. Gong Xingli warned that China has exhausted its financial resources, with many projects constantly requiring additional funds. He estimates that China's money shortage may amount to about one-third of its needs every year, but the country is hesitant to issue more currency due to the already alarming situation. He predicts that 2024 will mark a turning point, as China enters an era of the most severe money shortage in its history. 90% of Chinese Youth Fear of Falling Ill A recent survey conducted by ICOM Group and 36-krona Holang Research Institute has brought attention to the growing concern among young people in China regarding their health and the The study, which surveyed 1,422 young individuals across major cities in China, found that over 90% of young people believe they are not healthy, with the post-90s generation being particularly unconfident about their health. The report highlights several alarming trends, including the fact that more than 60% of young people resort to online self-diagnosis when they fall ill, and nearly 20% choose to endure their illness without seeking medical attention. This behavior is largely attributed to the fear of taking sick leave, which nearly 80% of respondents believe would negatively impact their work and the prohibitively high cost of medical expenses, as stated by over 70% of those surveyed. While almost half of the young people surveyed have made regular health check-ups a habit, an overwhelming majority—90.01%—experience anxiety about the results. Only a small fraction—9.99%—reported feeling completely worry-free, while the rest expressed varying levels of concern, ranging from some level of concern—43.87%—to being very worried or even anxious—20.5%. The report also delved into the reasons behind young people's fear of illness and reluctance to review their health check-up reports. A significant portion—62.6%—of respondents attributed their fear to the high levels of stress they experience in their daily lives, making them apprehensive about potential health issues being discovered during check-ups. Other factors included the acknowledgment of unhealthy lifestyles and a lack of awareness about healthy living and medical knowledge. Interestingly, when asked about the body part they most feared falling ill, both men and women shared a common answer—the heart. The primary reasons cited for avoiding hospital visits were the potential impact on work performance and the unaffordable cost of medical expenses. Netizens have taken to online platforms to express their thoughts, emphasizing that the phrases afraid to get sick, can't afford to get sick and health anxiety goes hand-in-hand with work pressure accurately capture the reality of young people's lives in today's China. Chinese temples offer salaries over 10,000 yuan, data reveals shocking reality? In recent years, temples in mainland China have been actively recruiting staff for various positions, sparking public discussion about the changing nature of temple employment. A study by the South Metropolis Big Data Research Institute revealed that temples are now seeking employees for roles such as internal staff, clerks, chefs, and copywriters. Many positions require specific educational backgrounds and work experience, along with full social insurance schemes and paid leave days. Nearly half of the positions surveyed had educational requirements, with almost a quarter demanding a college degree or higher. Some positions, such as those in media and copywriting, even required relevant professional backgrounds and a minimum of three years of work experience. Additionally, a quarter of the positions had mandatory work experience requirements, with a small percentage expecting applicants to have over a decade of experience in their field. Interestingly, some temples also had gender preferences for certain positions. Approximately a quarter of the surveyed positions had specific gender requirements, with roles such as fire safety officers and warehouse managers preferring male candidates, while positions like dormitory cleaners were often reserved for women. In a recent study, the Nandu Big Data Research Institute reviewed job listings from the official websites and social media of major temples over the last three years. They found that the position with the highest disclosed monthly salary was for a historical document organizer at Zhejiang's Huzhou Fahua Temple in 2022, offering 10,000 yuan per month. Chef positions paid 8,000 yuan about 1,107 U.S. dollars, while garden and landscaping maintenance jobs paid 7,000 yuan about 968 U.S. dollars and 30 cents, monthly. The Nandu Big Data Research Institute's findings have shed light on the lucrative job opportunities available in Chinese temples, with some positions offering salaries comparable to those in the corporate world. For instance, the Baolian Temple in Xuzhou, Jiangsu offers a monthly salary of 4,000 to 5,000 yuan approximately 692 U.S. dollars for a new media operations role and comprehensive temple management positions. Vegetarian canteen service staff can earn around 553 U.S. dollars per month. Similarly, at Hubei's Xiangwang Temple, copywriting, operations, and pastry chef roles offer salaries ranging from 553 U.S. dollars to 692 U.S. dollars. Moreover, over 40 percent of temple jobs provide additional benefits such as free food and accommodation. These revelations have reignited public discussions about the disorder within Chinese temples. Some netizens have expressed surprise at the financial strength of temples, especially in the context of the current economic challenges faced by mainland real estate firms and tech giants. Others have expressed disappointment, feeling that some monks are straying from the core teachings of Buddhism and presenting a facade of holiness while engaging in worldly pursuits. A telling anecdote shared by Fudan University's philosophy professor Wang Defeng highlights the changing nature of temple life. During an encounter with a monk on campus, Professor Wang learned that the monk was a supervisor at a temple and was pursuing an MBA. This incident led Professor Wang to reflect on how the modest bowl Buddha once carried for alms has been replaced by abundant provisions that now require professional management. Furthermore, a 2012 report by East Week magazine exposed a scandal involving monks from three historic temples, including the over 1,700-year-old Guangxiao Temple in Guangzhou, engaging in the collective solicitation of prostitution. This incident further underscores the growing concern about the erosion of traditional Buddhist values and the increasing worldliness of some temples. It is widely known that religion emphasizes spiritual cultivation for enlightenment beyond worldly concerns, focusing on concepts like the other shore and heavenly realms. In Buddhism, it is written that Shakyamuni Buddha predicted that after his nirvana, devils would reincarnate as monks, nuns, and devout laypeople to disrupt Buddhism. He warned of a time marked by climate anomalies and frequent disasters, alongside a decline in societal morals. Yet, he also offered hope, foretelling the arrival of a new enlightened being, Maitreya Buddha, to lead humanity into a new era of light, suggesting that our current period is indeed extraordinary. Hunan villagers protesting forced demolition for reservoir face brutal crackdown. On March 29, Radio Free Asia shared a video on Platform X, reporting that the local government in Aizhai Town, Jishou City, Hunan Province, had forcibly demolished residents' homes for the Daxing Zhai Reservoir project. The video footage shows well-maintained traditional houses being destroyed by large excavators, while a significant police presence was deployed to maintain order. The authorities' actions were met with strong opposition from the villagers, resulting in confrontations and the arrest of many protesters. Local residents expressed their frustration and anger online, with some stating that during 70 years living here, they had never experienced flooding in the area, and the construction of the reservoir was causing harm to the community. They also raised concerns about the loss of essential farmland and the impact on future generations' livelihoods. Some even accused the police of breaking the law during the forceful evictions. Former Chinese media person Zhao Longjian shared his insights on the X platform on March 30, drawing from his three-month investigation and interviews on hydropower relocation in 2014. Zhao had lived among the victims whose homes were destroyed and witnessed their plight firsthand. He described how once self-sufficient and wealthy families were reduced to becoming homeless scavengers, forced to collect waste materials discarded by the very hydropower stations that had seized their homes. Zhao also revealed the emotional toll of his experiences, sympathizing with the displaced residents and feeling dejected by the actions of the police and government officials. He noted that many petitioners were pleading for help, but he and his colleagues were powerless to assist them. Zhao lamented that only a small portion of his interviews and footage could be published at the time, and even that content had been erased by years of internet censorship. Netizens also expressed their views and criticism on social media, highlighting the lack of an independent judiciary and the inability to guarantee private property rights as the root of many problems in China. Another sarcastically remarked, does a pigsty renovation need the consent of the pigs? Others pointed out that the decision on whether there will be future floods rests with the leaders, and the opinions of locals do not count. Some even suggested that the Communist Party could create floods if none existed, citing the example of the flooding in Zhuzhou. One netizen shared their personal experience, saying, this situation is everywhere in the country. I also suffered violent forced demolition of my home by the government. I went to Beijing to petition. After petitioning, I found out that the motherland had been controlled by a group of corrupt people. They don't even abide by the laws they made themselves. They dare to do anything for their interests. Since then, I will never believe that the state will stand up for the people. Nanchang Aviation University sparks outrage over lavish dorms for international students. The Chinese Communist Party's policy of giving preferential treatment to foreign students over domestic students has long been a source of discontent among the Chinese public. This issue was recently brought to light by a controversy at Nanchang University of Aeronautics and Astronautics, where the university plans to invest 140 million yuan, approximately 19.4 million U.S. dollars, in renovating dormitories for international students while neglecting the poor living conditions of its own domestic students. The decision has sparked strong protests from the student body, with four main grievances. One, overcrowded and unsanitary living conditions for undergraduates. Two, the university's consistent refusal to address these issues citing lack of funds. Three, the unnecessary nature of the costly renovations for international students whose dormitories are already in better condition. And four, the stark disparity in the allocation of resources between domestic and international students. However, the university's response to the protests has been to threaten student leaders with potential consequences for their actions, warning that continued protests could jeopardize the university's efforts to achieve doctoral-level status. The administration has also been reported of attempting to stifle discussion about these issues. Although the university received over 100 million yuan, about 13.8 million U.S. dollars, for research, only some of that budget is being used for construction, with the rest allegedly allocated for international student exchanges, purportedly as a research initiative. Online, there's a wave of skepticism about the use of research funds, with some questioning the substance and purpose of the research and academic exchanges, hinting at suspicions that these could be veiled profiteering operations. Additionally, the rationale behind spending 140 million yuan, about 19.4 million U.S. dollars, on construction has been mocked, with insinuations of embezzlement and kickbacks. The controversy has ignited a wave of anger on the Chinese internet, with netizens calling for end to the supernational treatment of foreign students and demanding that the same benefits be extended to Chinese students. Some users have criticized the CCP's policies, stating that China is the most discriminatory place against its own people and that the illogical chaos is a result of the party's dictatorial rule. The incident has also brought attention to China's Study in China program, launched in 2010 to promote the internationalization of Chinese education. The program aimed to attract 500,000 international students annually by 2020, with a focus on students from developing countries in Asia and Africa. However, the allocation of billions of yuan in public funds to support foreign students has been met with criticism, as educational resources for Chinese students remain comparatively limited. Since the 18th National Congress of the CCP, China has implemented the Belt and Road Policy, attracting a large number of students from developing countries in Asia and Africa to study in China. Chinese tech firms share employees to reduce costs, stir debate. The Chinese economy has been facing challenges, and technology companies are under immense pressure to cut costs. As a result, many firms have begun implementing shared employee models, such as shared programmers and shared designers, to reduce labor expenses by approximately 5% to 10%. This development has sparked intense debate and discussion. CCTV's World Finance Program reported this news, featuring two examples of shared employees, Zhao Songsong, a delivery engineer working as a shared programmer, and Liang Xian, a designer who is part of the shared employee workforce. Zhao Songsong manages project delivery processes for multiple companies simultaneously, handling six to eight projects at a time. As a result, his overall income has increased by 40% to 50% compared to his previous job. Similarly, Liang Xian takes on projects from two to three companies concurrently and enjoys the flexibility of working from various locations. According to the report, during the peak recruitment season from March to April, shared programmers and shared designers have emerged as new employment options for many technology companies. These employees typically do not sign fixed contracts with the companies but instead engage in short-term cooperation on specific projects. By adopting this sharing model, companies have been able to reduce labor costs by 5% to 10%. However, the topic has generated heated discussions on social media. Netizens have raised concerns about the social security and benefits of shared employees, questioning whether flexible employment is based on the company or the individual. They have also inquired about redundancy compensation, maternity issues, and whether food delivery riders and online ride-hailing drivers are considered shared employees. Some netizens have criticized the model, arguing that it allows companies to save money at the expense of employee benefits, such as social security and Provident Fund contributions. Others have expressed disappointment that CCTV is promoting this vampire intermediary model when employees are already struggling. Some have even sarcastically suggested that the government should start implementing this model with civil servants first. 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