[Epoch Times December 08, 2021]Hello everyone, it is December 7th (Tuesday) Eastern Time, and December 8th (Wednesday) Beijing Time. Welcome to chat about current affairs every day. I am Sydney (Wang Yuhe); I am Qin Peng. (Qin Peng live broadcast)
Today’s focus: Jiangsu Nantong City Appearance Company openly snatched the “sugar sugarcane sales”, cited the Internet for crusade, official apologies, and third-party companies to report to the police. Whose problem? Chinese civil servants have cut salaries and companies have layoffs. Queen experts say they must prepare to “live hard times.” How miserable will the economy next year be?
Sydney: An old man in Nantong, Jiangsu, was selling sugar cane on the street, but he was robbed by city appearance management staff, triggering a crusade by Chinese netizens. At present, the local government has publicly apologized. But surprisingly, this time the officials no longer called these people temporary workers, but instead said they were a third-party company. As a result, the third-party company actually came out and called the police wronged. How is this going? Let’s talk today.
Qin Peng: News of China’s civil servants’ pay cuts and company layoffs at the end of the year continues to circulate on the Internet. Chinese royal experts even openly said that China is preparing to live a “difficult life”. How miserable is China’s economy? On Tuesday (December 7), the Central Bank of the Communist Party of China announced a 1.2 trillion yuan RRR cut. Will it work?
https://www.youtube.com/watch?v=ZD5ZzlDwvG0
Old man selling sugar cane was robbed and Internet users called the modern version of “Sell Tan Weng”
Sydney: On the evening of December 6, a “city appearance manager” in Nantong, Jiangsu Province unexpectedly robbed an old sugarcane seller on the street. The video was circulated on the Internet. Let’s take a look.
A group of people with the words “Jingtong City Appearance” printed on these black uniforms surrounded an old man pushing a cart and took away the sugar cane from the old man’s cart. The old man cried.
Qin Peng: This video quickly made it to the top search rankings in mainland China, and was reposted and viewed at least tens of millions of times. Many people exclaimed, angered, or shed tears, saying: In the cold wind, I heard the stern cry of the old sugarcane seller.
Sydney: Many people suddenly think of the famous piece “Sales of Tan Weng” in “50 New Yuefu Songs” by Bai Juyi, a great poet of the Tang Dynasty. Inside, the old man selling charcoal was also robbed of the fruits of his hard work by the officials. He wrote: “A cart of charcoal is worth more than a thousand catties, and the imperial envoy will not regret it. A half a piece of red yarn and a tenth of a meter silk, tied to the bull’s head to fill the charcoal straight.”
Qin Peng: Many netizens have adapted from “Sell Tan Weng”, and there are many different versions on the Internet that have been popularized. For example, this version: “Selling sugarcane and carting sugarcane in Nantong. Older people set up a stall to make ends meet, who would expect to meet the city on the street. More than 20 people joined the battle, and the sugarcane was in mid-air for a moment. There is even one person flipping the wallet. Who would dare if there is no video? Believe? The old man is powerless to go back to heaven, only crying bitterly. The crying force is in the north wind, at a loss on the street. The man in black, going back and forth, without leaving only words and phrases. Sugarcane filled with law enforcement vehicles, left in vain The old man tears like rain. Although the sugar cane is sweet, life is bitter. The sadness is countless when he traverses selling charcoal.”
Sydney: If you have no worries about food and clothing, who wants to risk being caught and robbed on the street and sell them in the cold wind? Some netizens wrote: “Selling sugarcane weeds, carrying water and planting sugarcane in the South Mountain. Sugarcane leaves are like knives and winds are like frost, picking sticks in morning and evening. Where can I get the money from selling sugarcane? Bedside medicine for sick women at home. Speaking of plagiarism, the gully is hoarse…”
Of course, some netizens said angrily: The contemporary version of “Selling Sugarcane Weeds” does not even have half a red yarn.
The famous cartoonist abnormal hot pepper also made a cartoon in time, and the connotation is very deep. Let’s take a look.
Qin Peng: In the new drama costumes, those robbers who block the road dressed up as robbers, holding axes and steel knives, but there is an official man wearing a black hat hiding behind a tree. This is ironic that these robbers are actually officially assigned. . The most interesting thing is that on the back of one of the robbers, there is also a large character “Pro”, which is ironic that the Chinese Communist Party will definitely say that this is a temporary worker.
Sydney: I was really hit by the perverted pepper. After this video became popular, it aroused anger in online public opinion and condemned the management staff who snatched the sugarcane. This made the CCP official feel scared, so the local official notified on December 7 that the disciplinary inspection department had intervened in the investigation and initiated the accountability procedure for the relevant personnel, and the local government staff had come to the door to apologize to the elderly.
However, what surprised the outside world was that this time, the local government of Sanxing Town did not say that these people were temporary workers, but that they were a third-party company hired by the government, and that it would terminate the relationship with this company-“Nantong Jingtong “City Appearance Management Co., Ltd.” put it on the blacklist and imposed financial penalties in accordance with the terms of the contract.
Qin Peng: Well, I have seen some official media that are also busy reporting the latest developments for the official. For example, the party media “People’s Daily” Weibo account Xia Kedao said, “At 11 o’clock on the 7th, the person in charge of the relevant local department Has gone to the door to apologize, and the confiscated sugar cane has been returned to the elderly.”
However, in the end, the third party is wrong, and the official is right. In fact, everyone knows that this third-party company is hired by the Chinese Communist government to do dirty work. It is usually used to transfer government expenditures to small groups of interests of the leadership; something really happened to shirk responsibility. Therefore, this time it was just a new term “third-party company” for “temporary workers”.
Sydney: Well, urban management and temporary workers have just changed one word. Many people think of another incident on the Internet more than two months ago: it was also in Nantong, the city management picked up the old man and fell to the ground. Let’s take a look too.
Qin Peng: The establishment of the role of “urban management” or the so-called “city appearance management company” itself is a manifestation of the CCP’s defense against the people and their disregard for people’s livelihood.
In addition, there was a weird episode of this incident later today, that the company involved, Jiangsu Jingtong City Appearance Management Service Co., Ltd., actually said that the video was faked and called the police.
Sydney: Well, The Paper reported that the company said, “The video is taken out of context, and the sound is processed later. Our job is to manage the mobile vendor normally. At that time, we temporarily detained items from him. The video website is to gain traffic. Now (we) Processing.”
However, they did not come up with the so-called original video.
Qin Peng: Well, even if the sound effects are added to the video, there is no essential difference from the facts. From the public apology of the local government, it can be seen that the facts are conclusive. However, the temporary workers of this evil third-party company actually came out to call the police. It can be seen that, under official authorization, they really regard themselves as qualified law enforcement agents.
Sydney: Actually, this is also illegal. Ding Jinkun, a lawyer at the Shanghai Dabang Law Firm, told the mainland media that the local government’s outsourcing of law enforcement lacked legal basis. He said that in accordance with Articles 20 and 21 of the Administrative Punishment Law, administrative agencies shall not entrust other organizations or individuals to impose administrative sanctions. The entrusted administrative agency shall be responsible for supervising the entrusted organization’s conduct of administrative sanctions and shall be responsible for such acts. Bear legal responsibility for the consequences.
The local government signed an agreement with “Jingtong City Appearance” to purchase services and required “to undertake city appearance management-related work according to the contract.” This is a transfer of law enforcement power, and law enforcement power cannot be granted to a “company temporary worker” just because of a paper agreement. To exercise.
Qin Peng: Yes, the confiscation and seizure of other people’s properties can only be carried out by law enforcement agencies in accordance with relevant laws. Moreover, judging from the company’s name, Jiangsu Jingtong City Appearance Management Service Co., Ltd. took Jiangsu twice in front, which seems to indicate that this background is not small. Therefore, I still think that such a company is a white-glove company formed by people with background to collect money from the Chinese Communist government.
Sydney: Many people lament the poor Chinese people. Because they don’t have the right to vote, the government spends nearly 2 trillion yuan every year to maintain their stability, and they are also oppressed by the city management and the police.
Qin Peng: As far as the CCP is concerned, it is a more advanced version of democracy. It is really shameless about what kind of “full-process democracy” is.
Civil servants pay cuts in the economic downturn?Queen’s expert: ready to live a hard life
Sydney: Let’s look at China’s economic problems again. In recent days, the Internet has been circulating again, and civil servants in many places have been reduced in salary, including Jiangsu, Zhejiang, Guangdong, Fujian, Shanghai and other places.
Some people say that the salary cut has reached 25%, and some say that the average is about 15%. However, the information exposed by these people has been seen by the Chinese people. It turns out that an ordinary civil servant in many places has various incomes. Actually there are more than two hundred thousand. (Qin Peng live broadcast)
Qin Peng: This kind of income really makes it impossible to connect with Li Keqiang’s 600 million people’s average monthly income of less than 1,000 yuan, and the 964 million people’s research reported by the financial media that the average monthly income is less than 2,000 yuan. This is the characteristic of the rising red power: most people have worked hard to feed a small number of powerful and powerful, and there are tens of millions of civil servants and career staff.
However, this news also revealed another news, that is, the CCP authorities really have no money now, so they started to use their own insiders. Of course, people in the system say that the salary cut is inaccurate. In fact, it is to reduce the bonuses paid in violation of the previous regulations, but no matter what, the income of these people is definitely going to be reduced.
Sydney: Some netizens said that under the epidemic, economic growth has slowed and local governments have decided to reduce the welfare of civil servants in order to increase revenue and reduce expenditure. It is estimated that other provinces and cities will follow up soon.
It is said that the annual salary of the director of the police station in Shanghai has been reduced from 350,000 yuan to less than 200,000 yuan, and the annual salary of department-level civil servants has been reduced from 240,000 yuan to 150,000 yuan. The whistleblower described that after the salary cut, the families of local civil servants could no longer afford the flats.
Qin Peng: In this way, the real estate market next year may be further affected. This is even worse for the property market. I am now very skeptical about whether it will be able to make a soft landing next year.
Sydney: Well, the most watched economic news on the Internet these days is that the Chinese Queen’s Economist Li Daokui said in a forum on the 2nd that China’s economy will face the “most difficult period” since the reform and opening up in the next five years. The outside world interpreted it as “China is ready to live a hard life”! Let’s take a look at the video.
Li Daokui said: “In previous important speeches, including the 19th National Congress of the Communist Party of China, the General Secretary stated that the great rejuvenation of the Chinese nation cannot be achieved easily, with the beating of gongs and drums. To prepare for a more arduous recovery, my understanding lies in In terms of economic work, we also need to make more arduous mental preparations.”
How to implement the economic thinking of socialism with Chinese characteristics in the new era proposed by Xi Jinping requires a renewal of government and market economics. Li Daokui said: “If the government’s own behavior and its own incentives are not in place, then it will act chaotically. It is not effective, not a’effective government’, but a’chaotic government’.”
Qin Peng: Li Daokui has always been regarded as a queen economist. This public warning is indeed unusual. This also shows that the current economic difficulties have made him unable to remain calm. Of course, he still insists that he is optimistic about China’s long-term economy, but he will be sad in the short term.
Sydney: Li Daokui has several core views. One is that he proposes to change local government debt to national debt. He said that this time the real estate company had a debt of about 5 trillion yuan, but the local government debt was as high as 50 trillion yuan, which was 10 times that of the real estate company. The local government debt was the core issue.
He also said that a major problem is insufficient domestic demand. He said that these traditional industries are saturated and even going down, but new demand has not come up. He gave an example of “Double 11” buying gas dropped below 20%, and wage increases did not keep up. He mentioned that the solution is to introduce 400 million people from rural areas to the cities to become new middle-income groups, and then implement technological upgrading and low-carbon industries.
He also talked about the shift of the industrial chain. This epidemic has caused the removed production lines to return to China, but the removal of the supply chain may be a long-term trend. As well as the carbon decline, Europe and the United States are accelerating carbon neutrality and achieving net zero emissions, but China’s measures are too violent and hasty, which may cause more damage.
Qin Peng: Not all of the reasons he said are true or accurate. For example, the shift in the industrial chain is not actually the cause of the epidemic. It is because the CCP is at odds with the world and the use of resources from other countries has forced the West to force the West. The country transfers the industrial chain. As for the RMB 50 trillion local government debt, it is a variety of infrastructure, buildings and halls built by local governments for political achievements. There is no economic output to support it. Therefore, this has always been regarded by the outside world as the largest gray rhino. Once it explodes, the impact on China’s economy will be very large.
Sydney: Well, regarding the reasons for the economic downturn, the latest survey also shows that it is not all due to the epidemic. Although the tourism industry has dropped by 84%, it is not the most uncomfortable. Based on the data of the first three quarters of this year, “Finance Eleven” selected the top ten shrinking industries in 2019 before the epidemic, including thermal power generation, film and television, decoration, gardening, and aquaculture. As China’s real estate industry will face many difficulties in the future, it will also affect the decoration and garden industries, and it will continue to shrink in 2022.
Qin Peng: Thunder explosion in the real estate industry will continue to be passed on to these related industries. This is caused by excessive debt, not because of the epidemic. The real estate industry accounts for 25% to 30% of China’s GDP. If it goes wrong, the chain reaction will indeed be very large. In addition to affecting the income of real estate companies and upstream and downstream companies, there will be many bankruptcies and dismissals, and it will also bring about a wealth reduction effect: usually real estate soars, many people think that their wealth is rising, so they dare to consume; but now the real estate industry is in a downturn , Many people think that the value of their real estate is not guaranteed, so they save money.
Sydney: The loss of thermal power generation is related to the CCP’s sanctions on Australia, which has thrown a stone in the foot. The film and television industry has a lot to do with the CCP’s tax investigation and ideological tightening.
The survey mentioned that the total operating profit of the catering and hotel industry has fallen by 88%. The shopping mall and supermarket industries were under dual pressure from the epidemic and changes in consumption patterns, and operating profits fell by 67%. It is said that the consumption pattern has changed, but in fact, there should be no money.
Qin Peng: Well, since the beginning of this year, the CCP has been promoting common prosperity to private companies, suppressing Internet companies, and teaching and training industries. It has also caused tens of millions of people to be unemployed. It has chilled the hearts of many private business owners. They dare not invest and try to escape. It is also an important reason for economic problems.
Sydney: On November 19 this year, the International Monetary Fund (IMF) also stated in its annual report on the Chinese economy that China’s economic growth rate is “increasing downside risks.” From the perspective of causes, the IMF report also said that in addition to stagnant consumption, there are financial instabilities such as debt problems. In addition, the decoupling between China and the United States and the reduction of labor in the supply chain are also listed as long-term risk factors.
Qin Peng: In short, China’s current economic downturn is certainly due to the epidemic, but to a large extent it is due to the CCP’s antagonism with the outside world and economic tossing. This leads to a very pessimistic economy next year.
Sydney: However, today (7th), the Central Bank of the Communist Party of China announced a big news, reducing the “reserve reserve ratio” of financial institutions by 0.5 percentage points, releasing about 1.2 trillion yuan in long-term funds. Said it is to support the development of the real economy and promote the steady and slow decline of comprehensive financing costs.
Do you think this will help China’s economic growth?
Qin Peng: It may play a part, but I’m not optimistic about it. In recent years, China’s water releases have all said that they will not engage in flood irrigation, housing and housing will not be speculated, they want money to enter the real economy, and they need to support small and medium-sized enterprises. The economy is basically very pessimistic, and the Chinese Communist Bank may not be willing to give money to small and medium-sized enterprises under this economic situation. Therefore, a large part of the money will still go into real estate.
According to Xu Sitao, chief economist of Deloitte China, the move is to send a clear signal to consumers to relax housing loans. He believes: “In the process of China’s economic development, certain sectors must be adjusted, and certain sectors must contribute more to the adjustment. Consumers will definitely have to make greater contributions in the future. In addition to consumption in the market, consumption is very important. It’s real estate, to increase a certain amount of leverage.”
However, I am not optimistic about the real estate market. Even if it will catch fire again in the short term, it will not be sustainable, but I still want to advise everyone to be careful.
Sydney: Some economists also questioned that the central bank’s release of water this time may eventually exacerbate the problem of real estate speculation, leading to a growing real estate bubble and triggering a new round of inflation.
However, Hong Kong economist Luo Jiacong questioned that the current domestic loan demand in China is not very large. Even after banks cut their RRR, they may not be able to attract investors to borrow, let alone invest in the real estate market. Whether the banks themselves will borrow the highest amount is another matter. One problem.
Luo Jiacong: “A reduction in interest rates will be useful. If it is said that banks can borrow more (funds), first, has the bank already borrowed the highest amount? If the bank itself borrows a lot, for example, 90% of the funds are borrowed, The RRR cut would be useful. But it’s not right now. In fact, the demand for loans is not very large. I count the death rate and reduce it by 0.5%, but can you borrow it? If you can’t borrow it, don’t you just put it in the bank.”
What do you think of his statement?
Qin Peng: Banks are now affected by real estate, and certainly have a lot of bad debts. Now the economic downturn will cause them to be more cautious when making loans.
Moreover, the CCP’s current suppression of various industries has not been reversed, and it is still deliberately trying to rob the rich instead of helping the poor and engage in nominal common prosperity. This will lead to cautious investment, cautious consumption, and accelerated capital outflow. Therefore, this kind of CCP’s Monetary policy may fail.
In the long run, the CCP is violating economic and political laws both inside and outside, which will inevitably lead to economic damage, but it is not civil servants that will suffer, but more ordinary people.
Production Team of “Qin Peng Live”
Editor in charge: Gao Jing#
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