Xi's ‘Swift Action’ Call Amid Fire Catastrophe; Musk: Chinese Cars Could ‘Destroy’ Global Market!

Multiple fires in China claim at least 56 lives. Sinew tragedy alarm song not high. The Chinese real estate market's non-fall myth shattered. Clear signals for everyone. Elon Musk. Without trade barriers, Chinese cars will destroy world car companies. Family alleges doctor faked brain death to illegally harvest organs. Crisis at the top of the CCP. Both officials and the public are criticizing that person. It's all covered in today's China Truths. Multiple fires in China claim at least 56 lives. Sinew tragedy alarm song not high. Recently, there have been a series of ongoing fire incidents in mainland China, resulting in many casualties. Just on January 24, around 1500 hours, according to CCTV, a fire broke out on the ground floor of a shop along the street in Yushui District, Sinew City, Jiangxi. The building where the fire occurred housed an internet cafe on the ground floor and a training institution upstairs. The fire resulted in 39 casualties and 9 injuries, with 8 individuals in stable condition, and one person still under rescue. This tragic incident has deeply shaken song not high, prompting CCP leader Xi Jinping to issue instructions concerning the fire in Sinew. He characterized it as another major workplace safety accident in recent times and called for a swift investigation into its cause. The official media also noted that following Xi's instructions and Li Chang's requirements, Zhang Guocheng, a member of the CCP Central Political Bureau and vice-premier, led a team to quickly reach the scene. Hotel fire in Jinan, Shandong, 4 fatalities. According to CCTV, on January 24, the Jinan Municipal Fire Department in Shandong Province disclosed that a fire broke out at the Ginzai Jiayi Changquanzhuan Expo Store on January 23 at 1.50 a.m. The firefighting operation concluded at 3 a.m. Injured individuals were taken to the hospital, but unfortunately, 4 people lost their lives despite rescue efforts. Thirteen students in Hunan School Fire tragically perish. A fire occurred in the dormitory of on the night of January 19. Local authorities reported on Tuesday, the 23rd, that the incident resulted in 13 fatalities and 4 injuries. Notably, all 13 deceased individuals were third-grade male students at the school. According to BBC Chinese, the fire happened while the students were asleep in the dormitory. It is noteworthy that, following the mentioned fire incident, local media in Hunan collectively refrained from reporting, and no media outlet conducted investigative coverage. Professor Lao Dongyan from Tsinghua University's law school commented, The fact that Hunan media didn't conduct interviews or oversight, which is understandable, how sadly understandable this is, might be due to an order. However, the absence of official statements from the fire department goes beyond an order, it is a proactive and internalized habit. The Chinese real estate market's non-fall myth shattered, clear signals for everyone. The Chinese stock market has plummeted, breaching the 2,800-point threshold. A substantial portion of the population is grappling with unemployment, and noticeable signs of an economic downturn are visible even in the financial hub of Shanghai. The real estate sector is teetering on the brink of collapse, and local debts remain alarmingly high. In the face of these challenges, some analysts foresee clear signals for the future, emphasizing that everyone can only settle down on their own. During the Davos World Economic Forum, Chinese Premier Li Chang touted China's economic performance. This triggered a series of posts on social media by Kyle Bass, the founder of Hayman Capital, a prominent American financial figure. In these posts, Bass ridiculed and itemized China's economic challenges, asserting that in 2023, China underwent a real estate collapse, banking crisis, youth unemployment rates surging over 20%, and global capital withdrawing from China. Despite this, Li Chang now asserts that China's economy has grown by 5.2%, and he encourages further investment in China, suggesting collective forgetfulness about the losses of the past 15 years. Kyle Bass described Li Chang as a lying puppet, likening him to Pinocchio. Kyle Bass stresses that investing in communist countries will never yield returns. Several crises outlined by Kyle Bass are concurrently escalating in China, and real estate, in particular, is considered the first domino in this round of the economic crisis. A report from First Financial on the 24th debunks the non-fall myth in the Chinese property market, particularly concerning top school district properties in Beijing and Shanghai. Even small, old properties of 20-30 square meters were fetching prices exceeding 200,000 yuan, approximately 28,242 U.S. dollars, per square meter. However, in 2023, these school district property prices experienced a substantial decline, with some areas witnessing a drop of 100,000 yuan, approximately 14,117 U.S. dollars, per square meter. The report cites the Hummingbird Home in Wanlu Town, Haitian District, Beijing, as an example. This area was once a highly sought-after school district property for the middle class. In 2021, a 44-square-meter residential unit was sold for over 224,000 yuan, nearly 32,000 U.S. dollars, per square meter. Yet, by the end of 2023, a 52-square-meter unit was sold for a total price of 6.17 million yuan, approximately 871,000 U.S. dollars, and a unit price of 119,000 yuan, about 16,802 U.S. dollars, per square meter, a drop of about 100,000 yuan per square meter from the peak price. The debunking of the non-fall myth reveals the magnitude of the Chinese real estate market collapse and its impact on the middle class during the economic crisis. A widely circulated article from the domestic self-media, Baopu Finance, recently provided a summary of the current situation. Financial tycoons are facing challenges, university graduates are resorting to food delivery gigs, and former fund managers, once at the top of the professional hierarchy, are now dealing with capped salaries and no year-end bonuses, desperately hoping to retain their jobs. A senior researcher at a prominent public fund in Beijing experienced a 25 percent reduction in base salary, while fund managers saw a 30 percent cut, effective January 2024. A friend who used to earn a million yuan annually is now unemployed, with no job opportunities in Hangzhou, Shenzhen, or anywhere else. I recently encountered an acquaintance in the elevator. His child, a graduate of a prestigious finance department in a certain 211 university, has been unemployed for half a year and is planning to go abroad. Financial tycoons, who were enjoying maotai at the beginning of last year, have ceased drinking by the end of the year, some have lost their jobs, and others have transitioned to new roles, becoming drivers for ride-hailing services where alcohol consumption is prohibited. A revealing joke characterizes the current situation as the most bizarre. The food delivery sector has transformed into a knowledge-intensive industry. As one netizen pointed out, all the delivery personnel in my area are college students. Baobu Finance emphasizes, why has the sales volume of liquor decreased? It's due to insufficient consumer power. Why has Pinduoduo risen? Primarily because there are more people in poverty. Young individuals lack the ability to engage in this unending rat race. They can only lie down, avoid marriage, and refrain from having children. However, the direct consequence is that pension funds will not be sufficient in the future. In reality, no one can remain detached from these issues. Pinduoduo is a Chinese e-commerce platform that specializes in group buying, was founded in 2015, and has grown rapidly. The platform allows users to participate in group deals, where they can invite friends or other users to join together to get discounts on products. Pinduoduo gained popularity for emphasizing the social aspect of shopping and encouraging users to team up to secure better prices. The Baobu Finance's article concludes, the spinning top is accelerating its rotation. Staring at the spinning top induces dizziness and breathlessness. The signal is unmistakable now, everyone, take care. Elon Musk, Without Trade Barriers, Chinese Cars Will Destroy World Car Companies Elon Musk, the CEO of Tesla, has expressed concern that if trade barriers are not implemented, Chinese car manufacturers could virtually destroy most of the world's auto companies. Musk made these comments during a Tesla earnings conference call on January 24. When asked about the potential for collaboration with Chinese manufacturers, Musk acknowledged that Chinese car companies are the most competitive in the world. He emphasized that their success outside of China would depend on the establishment of tariffs or trade barriers abroad. Musk also noted that Tesla hasn't identified obvious cooperation opportunities with Chinese manufacturers unless Tesla shares its supercharger network and licenses its autonomous driving technology with them. Concerns in Western countries about the influx of affordable Chinese electric cars have led to actions such as Europe's anti-subsidy investigation and the Biden administration's consideration of increased tariffs on Chinese electric cars. In that context, Tesla faces strong competition from Chinese carmakers, particularly BYD, in both Chinese and international markets. Founded in 1995 as a battery manufacturer, BYD has become a major player in the Chinese new energy vehicle market. In the fourth quarter of 2023, BYD's sales surpassed Tesla's, making it the world's largest electric car manufacturer. BYD's record-breaking sales included a substantial number of pure electric vehicles. Despite being primarily focused on the Chinese market, BYD aims to replicate its success in other countries if allowed. Meanwhile, Beijing has imposed further restrictions on Tesla's entry into Chinese government and government-related facilities, raising uncertainties about Tesla's future in the Chinese automotive market. Amid heightened competition and policy uncertainties, Tesla has reduced prices in the Chinese market, continuing a trend of multiple price cuts over the past year. The company announced a second consecutive quarter of Nevertheless, Tesla still views BYD as an important battery supplier. Alongside other companies such as Panasonic, CATL, and LG, Musk stated that Tesla plans to increase orders from these suppliers in 2024. Family Alleges Doctor Faked Brain Death to Illegally Harvest Organs According to The Sound of Hope, a recent incident in Wuhan involved a parent accusing Dr. Li, a doctor at Tongji Hospital, of falsely diagnosing their child as brain dead without proper tests and pressuring the family to donate organs, leading to the death of a 28-year-old. The parents said that despite the family's refusal to donate organs, Dr. Li still forged death records and electrocardiograms, collaborating with personnel from the morgue and funeral home to illicitly obtain organs. The parents reported Dr. Li's misconduct to Tongji Hospital, but instead of investigating, the hospital promoted him to a third-level professor. Subsequently, the family reported the case to the police, urging relevant departments to investigate Dr. Li and scrutinize the source of transplant organs at Tongji Hospital. Their appeal aims to draw public attention to prevent hospitals from becoming a legal ground for rogue doctors to commit arbitrary killings. Mr. Li, a mainland Chinese citizen, shared on the 24th that there was a recent report of a patient diagnosed with brain death in the hospital, pressuring family members to donate organs. The family refused and transferred the patient to another Wuhan hospital, where he subsequently recovered. Another resident, Mr. Wu, remarked that with the economy in turmoil, hospitals are discreetly harvesting organs. This project is cost-effective and relatively covert. Crisis at the top of the CCP, both officials and the public are criticizing that person. CCP leader Xi Jinping is currently confronting an unparalleled political crisis, marked by numerous officials adopting a stance of lying flat, and various sectors anticipating Xi's downfall. In that context, Xi Jinping has increasingly become the subject of mockery and ridicule both domestically and internationally, characterized by various derogatory nicknames. A leaked database from a Chinese website indicates that there are at least 2,000 censored sensitive terms directly related to Xi. Freelance writer Du Zheng, in an article for Taiwan's UP Media on January 25, cites an informed mainland media friend who associates with CCP circles, revealing that local officials, including civil servants, are adopting a lie-flat approach despite central government directives. They attend banquets cautiously, mindful of their words to avoid recording. In social gatherings, references to that pig express dissatisfaction with superiors, leading to shared laughter. The article emphasizes that current authorities have pushed the economy and people's livelihoods to the brink of collapse, leaving those with critical thinking contemplating and criticizing, attributing the situation to that pig. Du Zheng wrote that a friend who recently left China notes a prevalent culture of discreetly insulting Xi within domestic intellectual circles. When referring to Xi, terms like him or that person are commonly used. An unnamed retired CCP cadre succinctly comments on Xi and the CCP. China is currently grappling with significant political, economic, and social crises, and infighting within the top echelons of the CCP is becoming increasingly public. Figures personally promoted by Xi, such as Foreign Minister Qin Gang and Defense Minister Li Xiangfu, have been ousted from their positions, and there has been a purge of senior military officials and various branches. Despite consolidating the highest power after the 20th National Congress of the CCP, Xi faces widespread public sentiment, both within and outside the government, hoping for his downfall. Public opinion anticipates the top black swan for the CCP in 2024, involving Xi's downfall. An anonymous source recently disclosed to the Epoch Times that there is a special team in Beijing dedicated to safeguarding Xi Jinping's image, known as a special group. However, it remains uncertain whether this exists at both the central and local levels. Chinese-American scholar Li Hengqing mentioned that he had not heard of a special team dedicated to maintaining Xi's image, but the protection of Xi Jinping's image has become a central issue in the work of senior CCP officials. Former Beijing lawyer and chairman of the Alliance Canada Lai Qian remarked that the necessity for a strong mechanism, such as a special team, to protect Xi's image indicates that his rule is facing an unprecedented crisis. Li added that as most people in China now hope for Xi to step down, there is a possibility of change in China. However, we must realize that the Communist Party must also step down. China will be better without the Communist Party. Don't forget to leave a comment in the section below to share your opinions on today's topic with us. Make sure to like and subscribe to see more interesting topics from China Truths.