Unemployment Wave Sweeps Across China—Economy Set Back 60 Years, Even Shanghai Can’t Hold Out

"China is facing a devastating jobs crisis, with bankruptcies, layoffs, and unemployment spreading like wildfire through its biggest cities. Countless workers are trapped in record-low wages, and more and more women are forced to take on food delivery work just to survive. Today, we invite you to dive deeper into this harsh reality.
Ladies and gentlemen, what we are witnessing in China is nothing short of shocking. Millions are being pushed into poverty by collapsing wages and brutal working conditions. Some even say the economy has turned back the clock by 60 years, where countless jobs now pay just a few yuan an hour. How did this happen? Why has China’s workforce been dragged so far backward, as if time itself has reversed?"