Big Multinational Companies Leave China, Millions of Jobs Disappearing

Flip_flop_politics
Published on Sep 19, 2021
Link: https://www.youtube.com/watch?v=WYqKUEGEeuc
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Ningbo Samsung Heavy Industries is located in Ningbo City, Zhejiang Province. Recently it announced its withdrawal due to a unilateral land recall by the local government. Since September 8th, thousands of employees have gathered in the factory holding banners to protest. In the video, we can see some employees pouring into the administration building, shouting "I need food". The banners read: "Youth, ideals, blood, sweat, and tears were all spilt here!" "Weâ€™re grateful to Samsung, don't give up, don't abandon us, we have children to support". From this, itâ€™s obvious they donâ€™t want Samsung to leave.
Many employees even protested at night. They slept on the floors in the administration building or outside on the lawn. The latest news is that tens of thousands of employees and their families are participating in the protest. However, many videos and pictures related to the protest on social media of mainland China have been removed.
They also have another important appeal, they hope that the company will offer 3N compensation for termination of the employment agreement, that is, they want to be compensated by three months' salary for each year of employment.
In recent years, under the anti-Japan, anti-South Korea, anti-Europe and anti-U.S. trends instigated by the CCP, news of Samsungâ€™s withdrawal from China has continued to spread. Since Samsung Electronics officially entered Vietnam in 2012, Samsung Electronics Shenzhen closed and withdrew in 2018; in 2019 Samsung closed its last cell phone factory in Huizhou; and in 2020 Samsung's last computer factory in China, the laptop production line of Suzhou Samsung Electronics Computer moved out of China, keeping only its R&D department. After closing Samsung Heavy Industries in Ningbo this year, Samsung will close its last TV factory in Tianjin in November, and withdraw from communist China completely.
Letâ€™s take a look at what the Chinese government has done over the years: vilifying foreign companiesâ€™ products, and establishing party branches in them. Those who do not build party branches are forced to leave. Using official media to incite patriotism, inciting the public to smash foreign-brand stores and burn their products. This is what happened when they boycotted Uniqlo and Nike. When they did so, did they consider how many people would lose their jobs?
Under the influence of the CCPâ€™s propaganda, and facing the withdrawal of foreign companies like Samsung, most people in the lower social class are completely indifferent, as if these leaving companies are all losers, since leaving China means leaving their biggest market.
In fact, the importance of foreign companies to China's economy is not what they imagined. There are more than 20,000 foreign companies in Guangzhou, the output value from these companies account for 62% of the cityâ€™s total industrial output value from enterprises; in Shanghai, where giant state-owned enterprises gather, foreign companies contribute 2/3 of the cityâ€™s total import and export and total industrial output value; in Suzhou, an important industrial town in the Yangtze River Delta, the output value of foreign based companies account for 67.8% of the total; in Xiamen, foreign companies contribute 70% of the industrial output value. And in Shenzhen, the bridgehead to the outside, this proportion is already over 70%.
Foreign companies have brought about 40 million direct jobs to China, and if we include other companies in the industrial chain, the total number of jobs created is over 100 million. With so many people relying on foreign companies for their livelihood, it is hard to understand that the CCP is still inciting the public to hate foreign companies.
Only those employees, who lost their jobs, can really feel the pain, most of them are the backbone of their families. They have bought houses and cars with high-income from foreign companies. Once they lose their jobs, what awaits them is not only the huge pressure of supporting their families, but also the heavy amount of debt.
#Samsung#Chinaeconomy#Unemployment
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