The Wuhan virus pandemic is coming down heavy on the world and the Chinese are paying the ultimate price for it. The foreign companies are fleeing the borders of China, essentially leaving the natives of the country jobless.
Countries are tightening their FDI norms to block any hostile Chinese encroachment and while all of this is happening in mainland China, the Chinese people are being denied work in companies abroad as the locals have started objecting to their recruitment.
They say when it rains, it pours and Beijing’s problems are only getting compounded with each passing day, and sadly for the Xi Jinping regime, this is just the tip of the iceberg. Make no mistake about it, China will never be the same once this pandemic is over.
Several reports have stated that companies that have seen disruption in their supply chains and the manufacturing business in the wake of coronavirus have made up their minds to dump China. It started with Japan earmarking US $2.2 billion out of its US $993 billion economic stimulus package to help its manufacturers shift production out of China.
Japan taking the business away from Beijing was the watershed moment and other countries started following the suit soon.
South Korean heavyweights like Hyundai Steel, Lotte, Kia, and several other companies too are considering relocating their manufacturing facilities from China to India.
“We have requests from two iron and steel companies, some startups and one from the hospitality sector which wants to come to India from China,” said a Korean consulate official in Chennai
To further aggravate Beijing’s misery, a government biggie has informed that about 1000-odd companies are currently engaged in discussion at various levels such as investment promotion cell with central government departments and state governments to move their work to India.
Covered by TFI, Apple is considering moving about 20% of its iPhone production capacity to India because of the massive supply chain disruption that has broken the back of the manufacturing ecosystem of China.
Apple in China, directly and indirectly, employs about 48 lakh people and if it moves out of Mainland China, a large portion of the workforce will be rendered jobless.
Rising job losses and persistent xenophobia over the origins of the coronavirus are leading to growing resentment against Chinese migrant workers in Indonesia
Legislators in Southwest Sulawesi province rejected the planned arrival of about 500 workers hired by the Chinese-backed PT Virtue Dragon Nickel Industry and PT Obsidian Stainless Steel despite permits being issued by the central government in Jakarta.
The provincial governor Ali Mazi told state news agency Antara he supported the call, adding that “society is not ready to welcome foreign workers”.
Italy, one of the worst-hit countries has a significant Chinese expatriate population. Northern Italy is home to more than 50% of Italy’s Chinese population and most work in the Textile factories. When coronavirus struck the region, the companies were shut down. As a result, the Chinese were rendered jobless.
Constant jeering and xenophobia from the locals and job losses prompted the Chinese populace in Tuscany to return to China.
These are some of the many examples where the innocent Chinese are paying the price for its communist masters sitting in Beijing. China let the coronavirus snowball into a pandemic. The pandemic would have never assumed the monstrous shape that it has taken, had it not been for the opaque Communist regime that detained and mysteriously disappeared whistle-blowers, doctors, and journalists who spoke about COVID-19.
While the pandemic is ongoing and its people are reeling from its effect. The Xi Jinping has upped its predatory company takeovers in foreign countries. The Chinese companies, private as well as public, are looking to pump up investments in companies all around the globe to use as leverage in the post-COVID world.
Sensing an imminent dragon threat, the European Union nations like Italy, Spain, Germany, and now India and the US have tightened their FDI norms.
With a bleak future and a threat of financial sanctions and reparations, the companies are sensing it is the right time to jump the sinking ship of China and find a more suitable and conducive environment—like India. An exodus of companies from China is waiting to happen—as a result millions will be rendered jobless.
If Beijing still does not get its act right, then a whole lot of misery is coming its way. People are losing jobs and therefore it does not matter if it’s a red authoritarian regime or a vibrant democracy, people will eventually take to the streets when their children’s bellies will be famished and that in true sense will be the beginning of the end for China.
Thankyou for such an honest article , I’ve ready several news reports today and they all boast how great China is doing and how so much better it has handled the pandemic and economy . ( noticed most where based in China ! ) . Keep telling the world the truth , stay safe.
Patrick.
Chinse Communist Government is obsessed with absolute Power Control. They do not believe in the concept of Freedom nor individual choices. Therefore, they impose control and expect obedience from their people and want to do so with the rest of the World in exchange for greed as a hook.
We cannot trust this tyrannic and perverse government and stop capital investments in China unless they democratize the country which I personally doubt.
I hope someday the people of China will rebel and liberate from this tyranny. I pray for the people of Hong King and other parts of China to survive and prevail against this totalitarian government.