Shanghai's Depression: All Shops Have Closed Down; Wages Unimaginably Low

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Shanghai, once China's most economically prosperous city, is now caught in a vicious cycle of unemployment, business closures, collapsing rents, and sluggish consumer spending. Whether you're a business owner, an employee, or even a tourist, you can feel the city's loss of vitality.

The Chinese people, who enjoyed the benefits of forty years of reform and opening up, are now witnessing the disappearance of their vibrant atmosphere and helplessly watching this great depression descend.

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