Henan Students Have Had Enough!! The Breaking Point for Workers Inside the Wall Is Here! China's Economy Has Really Begun a Great Depression! Qiqi Baba TALK Episode 983 20260928

This video is produced by Qiqi Baba TALK, hosted by Qiqi. The video discusses China's current severe economic situation, particularly the hardships faced by the working class. Citing submissions from netizens and personal observations, the host points out phenomena such as workplace involution (rat race), waves of unemployment, and corporate bankruptcies, while criticizing the saying "workers should not make things difficult for other workers." The video also mentions cases such as layoffs at major tech companies for those aged 35 and over, heavily indebted small and medium-sized business owners, and job seekers stranded on the streets, while warning young people against taking over legacy assets from the old era. Finally, the host refutes the view that "China's economic is fine," arguing that while the spread of an economic depression takes time, the current situation is already grim.

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Hello everyone, welcome to Qiqi Baba TALK, I'm Qiqi.

College students in Henan simply couldn't take it anymore and have gone crazy. I think when people say "workers should not make things difficult for other workers," this phrase is actually the biggest scam, just like "Chinese people don't cheat Chinese people." Because workers are the ones who make things most difficult for other workers. Especially within the Great Firewall, I think this can be considered one of its distinctive features. Your colleagues behind the Firewall might be the most unfriendly to you, or once you enter the workplace, it feels just like stepping into a palace intrigue drama. If you don't stay extra vigilant, you might not even survive the first episode. That's why many Chinese people who come abroad to work absolutely do not want to go back. Sometimes this isn't due to other reasons, but rather the mental health state brought on by the working environment. Even though they have left their families behind and are all alone, they feel that their mental state is much healthier when working abroad. The workplace environment is much more relaxed, because you probably just need to steadily do your own job without facing numerous baffling difficulties and traps. Therefore, your life becomes very simple. Although I have never worked behind the Great Firewall, many friends write emails to me. They share how exhausting work is, how they were given a hard time by colleagues again, framed for something, or made to take the blame for others, and so on. So actually, the Chinese Communist Party (CCP) operates this way because its goal is to make Chinese people harbor hatred toward each other, since only in this way will Chinese people never be able to unite.

I laid myself off. Laid off by a big tech company at age 35. Putting these words together is heartbreaking, even a dog would find it miserable. They laid off quite a few people again this time. It is not that we did not work hard enough; in a situation like this, trying hard and pushing hard is completely useless. Truly. Nowadays, if you can just hold onto whatever little money you have left in your hands, ah, without any debt, you have already outperformed the vast majority of people. Many, many bosses, big and small, are now in a panic, drowning in debt. Many bosses are even poorer than these ordinary production workers. In this day and age, the overall economic environment is extremely grim, and it is not going to get better anytime soon. You must absolutely not rashly go and become some kind of boss. Boss, just honestly hold onto whatever little money you have in your hands, ah, try your best not to be in debt, and you will have already outperformed the vast majority of people.

Oh god, I really cannot stay here anymore. I've been backpacking for just over three months, secretly crying at home every day. For half a week—damn it, for a whole week—not a single interview call. Is the economy good or not? If you ask the bosses across various industries, this year it is just beginning, right? It's not like the slow decline of the past, slowly declining like being cut by a small knife, where the economy gradually collapses. Now the economy is dropping completely naked, do you understand?

Where are you from?

How long have you been wandering around? A year.

Then why—why are you wandering? No—no money left.

Then why don't you go home? It's also about money, goddamn it, it's all about money, boss.

What's the situation? Let's see where your social circle usually is? Ah, here? Fine. I really couldn't have imagined it, even Chengdu is barely holding on. After taking out a loan in Chengdu, I found out that many big companies in Chengdu are now quietly laying people off. Many people have been looking for jobs for two or three months. Small companies are also incurring losses and going bankrupt one after another.

If I'm a backpacker on the road, Shandong, I only have two yuan in my pocket, can I buy some food? Yes, no problem, ah. Haven't—haven't you eaten, is that it? Ah, yes, just—just happened to have these two yuan. Fine, take a look at my life. I am from Xiushui, Jiangxi, born in 1987, almost 40 years old, unmarried and childless, and still carrying over 1.5 million in debt. I only eat this one meal a day.

How magical is the current employment environment really? I am actually stunned. Let's talk about something real with everyone. I am actually currently in a state of being quietly on the job, and the position I hold is assistant to the general manager. Every day at work, I am simultaneously interviewing other people at my workstation while also taking time to send out resumes to the outside world, and I go out for interviews as well. Switching back and forth between these dual identities all day long basically makes me feel like I have schizophrenia. I only have one feeling: the number of people looking for jobs right now is terrifyingly high. Previously, my understanding of the difficulty in finding a job was limited to my own personal experience of job hunting. It wasn't until these past two days when I started getting involved in recruitment work myself that I saw the truth of the matter. Every day when I open the recruitment software, resumes flood into the backend in droves and piles, simply endless and impossible to finish reading. For a single ordinary position, it is no longer a dozen people competing, but hundreds of people fighting for one spot. The people coming for interviews are from all walks of life: some have been unemployed after a sudden resignation for half years, some are quietly job-hopping, some are laid-off workers from big tech companies, and others are fresh graduates who just finished school. Everyone's state of mind right now is very similar: they dare not be picky, dare not make any demands, and only ask for a stable job where wages can be paid normally. If I were just interviewing other people, I really wouldn't have felt this deeply. The key is that I am also hedging my bets and looking for another job while keeping my current one, using my rest time to submit applications for new opportunities, connect with HRs, attend interviews, and after talking with HRs from all walks of life, the answers I get are actually highly unanimous. Not a single position is short of people, but every position is crammed with job seekers.

In the past, when I saw people making money and getting rich, I was so envious. But now I don't envy them at all. Why? Because many people have fallen back into poverty, because most people lack a certain capability. You could say that during the years when money was easy to make, some people might have taken on engineering projects and instantly made several million. Some people, hey, graduated from 985 or 211 universities and went straight into big tech companies, with an annual salary exceeding one million. Some even had good luck, where their house got demolished and compensated, getting both properties and money. It made me envious, and I thought those people were rich from then on, and that their lives would henceforth be, ah, very wonderful. As a result, after just a few years, I found that most of the people I am talking about around me have already fallen back into poverty. That big tech employee with an annual salary of one million jumped to a small company, ah, with an annual salary of 200,000, and he cannot even pay his mortgage anymore. That person who took on millions in engineering projects is even more miserable, now owing ten to twenty million and not daring to go home. And as for those who got compensation from demolition, needless to say, within three years, that money was squandered away, and that house was squandered away too.

I don't know what's going on, but in the three regions of Shandong, Henan, and Hebei, there has been an exceptionally high number of wealthy bosses and middle-class individuals inquiring about immigration and passport applications this year. An incredible amount. I have no idea why.

Right now, the ones suffering the most are these small and medium-sized business owners. It's the same across all industries—catering, tourism, and even the car rental business you see now. On a sunny day, look at how many cars are sitting idle at the door. Look at the off-road vehicles across the street; they are all just sitting there. The ones having the hardest time right now are these small and medium-sized business owners; it's like they are playing in the desert, walking and rolling through the sand. If you climb up, you survive; if you slip, you fall to the bottom. So, the phenomenon right before our eyes is extremely glaring.

Let me tell you, back at my shop, my boss told me to collect the cardboard and said I could keep the money from selling it, you know? I was so happy, so I diligently collected the cardboard. Later, I was selling the cardboard, and every month I made quite a bit—over 200 yuan—and I was thrilled, guys. But then I realized my cardboard was gone. I wondered, how did it disappear? Later, I checked the surveillance footage and saw an old man just carrying it away. It took me half a month to save it up, and he picked it all up and took it away in less than two minutes. It really left me speechless. The physical stores in Hangzhou are truly heartbreaking to look at.

So many people's hard work has gone down the drain. Fellow peers, don't worry, we don't have business either, so don't be anxious. Young people, do not take over assets from the old era; this is the secret of secrets. The times have changed. Do not take over the cages built by the old guard of the old era, do not take over the women raised by the old guard of the old era, and even more so, do not take over the projects the old guard has hyped up to the sky. If you take over assets from the old era now, it is equivalent to voluntarily walking into a trap, equivalent to using your own youth to be buried with the old folks. This is not alarmist talk; this is the plunder happening right now. Whoever is soft-hearted will be the one to stand the last watch for their bankruptcy. You are not taking over assets; you are taking over the residue after the bubble bursts. You are not some wealthy patron; you are the final bag-holder when they cash out at high positions and leave. The times have completely changed. Look at this row here; 90% have closed down, and the shops here are all empty too. E-commerce dies off, and then you say physical stores die off. What's wrong with many small and medium-sized business owners? Many people are in this difficult situation where, even if they can maintain survival for now, they are not optimistic about the prospects at all, and the key is that they can't see any hope at all. Everyone is like this. I'm telling you, whether you are engaged in the catering industry, the tourism industry, or even various small and medium-sized enterprises and manufacturing, it's all like this.

China's economy continues to suffer a severe recession, all industries are mired in depression, foreign-funded enterprises are withdrawing from China in large numbers, private enterprises are collapsing one after another, street shops are closing down, and a wave of unemployment is sweeping the country. Many middle-aged people, after being laid off, cannot find jobs for a long time while still carrying millions in mortgage and car loans, and the pressure of life is suffocating. Many unemployed middle-aged people post videos on social media platforms to tell of their difficult situations after losing their jobs. Some run around to make a living, even ending up homeless, and even basic food and clothing have become a problem, facing a severe survival crisis. However, while the people's lives are becoming increasingly difficult, the CCP authorities seem to turn a blind eye to the plight of the common people, continuing to promote the bright prospects of China's economy and demanding that all sectors of society enjoy the main theme of economic prosperity. Anyone who questions the current economic situation or expresses concern about future development is often labeled as "talking down the Chinese economy."

Thank you all for watching. What are your thoughts on the current economic and social situation in China? You are welcome to leave a comment below and share with us. If you want to keep up with more in-depth analysis and reports, please be sure to click subscribe, like, and turn on the notification bell. See you in the next video.

I know many friends keep leaving comments saying that even though people keep saying the Chinese economy is bad, they don't see it or feel it. Here is the thing: first of all, if you only look at individuals—that is, us as individuals, including myself—everyone's social circle is actually very small. If you use the group of people around you or your immediate environment as a reference for the entire Chinese society, then I can only wish you happiness at the bottom of the well. Furthermore, the economy is indeed already in a depression, but for everyone to feel it, the spread takes time. Moreover, the previous accumulation of the entire society must be exhausted before it can snap. Do you think it would happen that quickly? Given the scale of China's previous economy, it's like chopping down a tree. Before this tree actually falls, no matter how deep it looks like it has been chopped, it is useless, because no one knows when the moment it falls will be. I can only say that the tree of the economy currently looks like it has been chopped very deeply. Alright, the above is all the content for this episode. If you would like to support me, please join the membership channel. I especially hope to be able to chat with you in real-time during the next member-only live stream. That is all for this episode, and we will see you in the next one.