MoneyPost

China is no doubt the world’s number one producer of almost anything manufactured. But is China losing it’s power because of this Economic crisis?

Every single day in China, thousands of workers are laid off. Just today, in Guangzhou province alone, around 130,000 workers were told they no longer had a job. Many giant producers have been forced to shut down and lay off millions of people. And this trend isn’t slowing down.

Some of you may be wondering why this would happen, well it’s because people can no longer afford to buy what China makes. This may seem surprising since China’s products are almost always the cheapest, but it remains true. The Chinese economy relies on the rest of the world having an even stronger economy. More than 90% of goods produces in China are exported oversees, or were… As other economies grow smaller, so does their currency, making the local goods cheaper than those of China.

The trend of job loss in China is so bad that the government is afraid all the jobless people would start a rebellion; and they know with that many people against them, it won’t be easy to stop.

Hopefully, this economic crisis will end soon, and the millions of jobless Chinese will be able to return to the manufacturing districts of China.