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At present, behind the shining picture of neighboring country China, a deep economic silence is hidden. Although on the surface an attempt is being made to make everything appear normal and stable, the situation on the ground is telling a different story. In fact, the common man of China is currently going through a huge economic pressure. People's salaries are being cut drastically, jobs are decreasing and uncertainty about the future is continuously increasing. Due to this, the condition of the working class there is becoming weaker. According to a report by The Epoch Times, layoffs are going on from big cities to small towns in China and many small and big businesses are closing.

What is the ground reality?

The Chinese government may be repeatedly making tall claims about economic strength and stability, but the experience of common people shows a completely different picture. The situation at the ground level is such that people are not able to express their problems openly. The atmosphere of fear is so high that many people are sharing their views only by hiding their names. The real situation is that the income of the working people there is continuously decreasing and the job confidence is also weakening. The story of a doctor from Beihai city explains this entire crisis clearly. He said that after the Covid-19 pandemic, as foreign companies started moving out of China, unemployment increased rapidly.

This doctor's own salary is a big example of this. Earlier he used to get around 20,000 yuan every month, but now it has come down to less than 10,000 yuan. That means his earnings have almost halved. Not only this, competition for jobs in every field has increased so much that people are struggling somehow to save their jobs. New opportunities are decreasing and there is no guarantee of stability even in the work that is available.

Government treasury is becoming empty

The impact of this recession is visible not only on salaried employees but also on the government system and business. According to a resident of Chenzhou area, the financial condition of the local government has deteriorated badly. To reduce the burden on the treasury, administrative work and expenses are being cut. Many big projects related to infrastructure have been stalled for a long time. Private companies, which were once the biggest engines of employment in China, are today struggling to survive. This crisis has deepened due to the closure of foreign companies' operations. The closure of shops in the markets and the delay in opening of factories clearly shows the enormous economic pressure small traders are going through.

Why are China's youth giving up?

If anyone is suffering the most in this entire economic maze, it is the youth there. Even after completing their studies, students are forced to sit unemployed for months. Even those who are getting work are struggling on a meager salary of just 3,000 yuan per month. The situation is so bad that many youth have to completely depend on their families for their living.

This frustration has given rise to a new trend like 'Lying Flat' in China. Due to severe lack of opportunities, youth are now distancing themselves from this blind race and tough competition. Instead of running around, he has found it better to sit quietly. To make ends meet, many highly educated youth are now doing temporary work like food delivery and ride-hailing (cab driving), which have no future security.

The exodus of the rich from China

Inflation is continuously increasing in the country and in this environment of uncertainty, the consumer confidence of the people has been badly shaken. Common families are now drastically cutting down on their essential expenses to save money. The gap between the government's optimism and the reality on the streets has now become very wide. On one hand, while the common citizen is struggling for his daily needs, on the other hand, according to the report of 'The Epoch Times', rich families of China are trying to send their property and their family members safely abroad. This migration is a clear indication that even the most prosperous class of the country has lost confidence in its own economy.

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