💰Xi Jinping urgently requests $900 billion in aid from Joe Biden to save the Chinese economy.
💥The Xiongxi group declares bankruptcy with debts surpassing 400 billion.
🛫Surprise deals cause airfares to plummet, reaching as low as $126 for flights to South Korea.
🚇The Beijing Subway and other subway companies in China face financial losses, leading to discussions on the underlying causes.
🌍China continues to collect debt from poor countries despite its own financial distress.
Why did Xi Jinping request aid from Joe Biden?
—Xi Jinping is facing a severe financial crisis in China and is turning to Joe Biden for salvation. He urgently requested $900 billion in aid to save the Chinese economy.
What is the financial situation of the Xiongxi group?
—The Xiongxi group has declared bankruptcy with debts exceeding 400 billion. Its assets are insufficient to cover the liabilities.
Why have airfares plummeted?
—Surprise deals have caused airfares to plummet, reaching as low as $126 for flights to South Korea. This is a result of the current state of the tourism market and the offseason for air travel.
Why are subway companies in China facing financial losses?
—The Beijing Subway and other subway companies in China are facing financial losses due to various reasons, which have sparked discussions. The primary cause is the substantial security expenses incurred by these companies.
Why is China collecting debt from poor countries?
—Despite its own financial distress, China continues to collect debt from poor countries. This is a part of its wider investment strategy, including the Belt and Road initiative, where China has invested in numerous projects across low and middle-income countries.
00:00Xi Jinping urgently requests $900 billion in aid from Joe Biden for the Chinese economy.
03:44The Xiongxi group declares bankruptcy with debts surpassing 400 billion.
06:53Airfares plummet, reaching as low as $126 for flights to South Korea.
09:34The Beijing Subway and other subway companies in China face financial losses, sparking debates on the underlying causes.
13:19China continues to collect debt from poor countries despite its own financial distress.
