Part 5/14:
This apparent growth is not driven by innovation or domestic demand but by relentless, and often destructive, production practices. Chinese companies have resorted to slashing prices and dumping vast amounts of goods in international markets. Since April 2023, export prices have been falling steadily, while overworked workers clock an average of 49 hours per week—a clear sign of squeezed productivity.
This artificially sustained growth resembles a department store operating on clearance sales—sales that are made at a loss. While the shelves may appear full and the numbers positive, profits are collapsing, wages stagnate, and workers are burning out. The economy's “health” is an illusion, hiding a system that is fundamentally unstable.