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Time of India
5 days ago
- Business
- Time of India
Debt and shame: Why millions in China feel trapped and alone
Across cities and countryside alike, middle-class families once lauded as China's growth engine now wrestle with mounting debt, shrinking paychecks, and the erosion of hope. TL;DR: Driving the news China's economy grew at a 5.2% clip in Q2 2025 - faster than forecast and propped up by exports and subsidies. But a deeper look shows a troubling reality: millions of Chinese consumers are drowning in personal debt, clinging to side jobs, and quietly unraveling under financial pressure. Many have stopped spending. Some are documenting their ruin online. Others are considering suicide. 'I can only endure. I don't dare to quit,' Frank Huang, a 28-year-old teacher in Chongzuo, Guangxi, told Reuters. His salary hasn't been paid in months, and he relies on his parents to survive. 'If I were married with a mortgage, car loan and child, the pressure would be unimaginable.' The government, on its part, has responded with $42 billion in subsidies and vague promises of reform. But the emotional toll is becoming as destabilizing as the economic one. Why it matters Debt is no longer just an economic metric in China - it's a psychological burden reshaping the social fabric. Tired of too many ads? go ad free now * Over 60 million Chinese adults are in default or behind on payments, according to Gavekal Dragonomics. That's 5–7% of the population over 15. * Household debt has skyrocketed from 11% of GDP in 2006 to over 60% in 2025, nearing rich-world levels. * Social shame around money trouble means many suffer in silence - or fall into what researchers call *shesi*, or 'social death.' 'In China, we generally don't tell our parents about bad news,' Ms Bai, a former education executive whose business collapsed after the crackdown on tutoring told the Economist. 'So they were very, very affected.' The big picture The Chinese dream - built on homeownership, job security, and rising wealth - is cracking under pressure. What began as a property-driven middle-class boom now looks like a debt trap: 65% of all household loans in China are mortgages, often for properties that have plummeted in value since the real estate crash. Job insecurity is rampant, especially for younger and lower-income workers. State firms are slashing wages, and teachers are going unpaid for months. China's long-promised shift to a consumption-driven economy is being smothered by inaction and intimidation. 'Rather than just being short of money, people tend to compare and make choices with more consideration,' Zhan Demi, who used subsidies to upgrade her home appliances - and then immediately cut back, told the New York Times. Between the lines: A culture of silent distress Behind the GDP growth and flashy subsidy campaigns is a culture of silent distress. Side hustles are survival, not ambition. Zhang Jinming, an employee at a state-run real estate firm, now delivers food every night to make up for a 24% pay cut. 'There's just no other way,' he told Reuters. Aggressive debt collectors, known as cuigou or 'pressure dogs,' bombard friends and family. Call-blocking is futile. Harassment is constant. Legal options are scarce. Personal bankruptcy laws exist in theory - but only 10% of applications in Shenzhen, the only city with such a law, have been accepted since 2021. The emotional toll is massive. Bai, the ex-entrepreneur, considered suicide after her husband divorced her and she was blacklisted from high-speed trains and hotels. 'The pay cut has put me under huge pressure. Many colleagues have resigned, and I took over their workload,' Zhang told Reuters. Zoom in: The 'Debt IP' phenomenon In a country where discussing personal failure is taboo, some are breaking the silence - for survival. A growing class of micro-influencers is monetizing personal debt on social media. They record their fall from financial grace, detail harassment from collectors, and even mock their own poor decisions. Lily, a young woman in Shanghai who films her debt struggles to make ends meet on social media, owes 30,000 yuan ($4,200) and posts short videos chronicling her situation. 'I haven't hit the big time,' she told the Economist, but others have. Popular accounts now boast hundreds of thousands of followers. 'Some people are even competing: 'Oh, I'm 10 million in debt, I'm 100 million in debt,'' Lily said. This genre - sometimes dubbed 'debt IP' - is part support group, part spectacle. Tired of too many ads? go ad free now But it's also a cry for help that the government isn't fully addressing. What they're saying In Linquan, a rural county of 1.5 million in eastern China, a teacher who gave only her surname, Yun, said she is now receiving just her basic monthly salary of 3,000 yuan, with the performance-based portion—typically about 16%—"consistently delayed." 'After I pay for gas, parking and property management fees, what's left isn't enough for groceries,' she told Reuters. 'I feel like begging,' she added. 'If it weren't for my parents, I would starve.' Max Zenglein, Asia-Pacific senior economist at the Conference Board of Asia, describes China as a 'dual-speed economy,' marked by strong industrial output but weak consumer spending—two dynamics he says are closely linked. 'Some of the economic challenges including low profitability and deflationary pressure are largely driven by continued capacity expansion in the manufacturing and technology sectors,' said Zenglein. As for the ongoing trade war with the US he added, 'What's unfolding now is coming back home as a domestic issue.' Chinese officials are aware of the growing crisis - but they're sending mixed signals. 'We are still facing a very severe and complex situation,' Commerce Minister Wang Wentao said. 'Our toolbox is plentiful, and we will be fully prepared.' Premier Li Qiang has promised to 'expand domestic demand' and 'make China a megasized consumption powerhouse.' Xi Jinping , too, has vowed to 'fully unleash' consumer potential. But meaningful structural reforms - like a national personal bankruptcy law or a real welfare safety net - remain stalled. , too, has vowed to 'fully unleash' consumer potential. But meaningful structural reforms - like a national personal bankruptcy law or a real welfare safety net - remain stalled. Instead, the government is throwing money at the problem: In 2025, China doubled its subsidy pool to $42 billion, offering up to 20% off home appliances, cars, and smartphones. That program sparked a brief consumption bump - May retail sales jumped 6.4%. But in June, growth slowed to 4.8%, disappointing expectations. Several municipalities, including Chongqing, have already paused the subsidies to avoid budget overruns. Spending deferred, dreams deferred The social toll of China's lopsided recovery - strong exports, weak consumption - is visible in everyday decisions: Frank Huang, a teacher in Guangxi, hasn't been paid in months. 'If I were married with a mortgage, car loan and child, the pressure would be unimaginable,' he told Reuters. Another teacher in Linquan says her performance bonuses are delayed. 'After I pay for gas, parking and property management fees, what's left isn't enough for groceries,' she said. Job seekers like Huang Tingting now face fierce competition. She quit her waitress job in April and hasn't found another since June. 'This year is worse than last year,' she said. Even those benefiting from subsidies are cautious. Coffee is being brewed at home. Rent payments take priority over outings. And families are saving more - not spending more. What's next A personal bankruptcy law might offer relief, but only Shenzhen has a version in place-and courts reject 90% of applications. Meanwhile, online loan sharks thrive in the legal gray zones, and structural reforms to support household consumption remain sluggish. According to Capital Economics, consumer prices fell for four consecutive months this year, a warning sign of deepening deflation. Even growth data is under question. Some analysts, like Zichun Huang at Capital Economics, estimate actual GDP growth could be closer to 3.5% for 2025-not the officially reported 5.2%. For now, Beijing is vowing more stimulus and regulatory tightening, but consumer sentiment remains low. Zhan Demi, a mother in Tianjin, summed it up: 'Many people are even unemployed, or they are forced to stop working, or their salaries are cut. Rather than just being short of money, people tend to compare and make choices with more consideration,' Zhan told the NYT. The numbers may still look strong. But for tens of millions of Chinese citizens, the story is no longer one of growth. It's one of survival. (With inputs from agencies)
Metro
14-07-2025
- Metro
British women beaten and stamped on in row over bill at Turkish restaurant
Footage has been shared of staff at a restaurant in Turkey repeatedly punching and kicking two British women as they lie on the pavement. The video shows the men attacking the tourists on June 2 outside Mad Boys, in Marmaris on June 2, after a row reportedly broke out over an unpaid bill. Earlier in the footage, one of the women, who is wearing a green dress, is also seen pushing and hitting one of male employees around the head with her handbag. The clip begins with a heated verbal argument that then escalates and turns physical. At one point the women fall to the ground and a number of men attack them as they lie there. One even jumps through an open window to join in. People can be heard shouting in the background as the brawl unfolds. Police were called to the scene, but since neither party filed a complaint at the time the matter was closed. However, when the video was shared online it caused widespread criticism and lead to a police investigation being opened. Five members of staff were found to have been involved in the brawl and were detained and the restaurant was closed indefinitely. The restaurant manager told Turkish newspaper AKŞAM that a family of five had caused an argument by not paying the 5,000 TL bill (£92). He said the tourists provoked the staff by insulting Turks and the Turkish flag, and then attacked them. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video In a statement on the incident, the Marmaris District Governor's Office , said: 'It should be known that violence against women is completely unacceptable in Muğla. 'Our state stands firmly against all forms of violence against women. 'Judicial and administrative investigations into the business and its employees are being meticulously conducted, and all developments are being closely monitored.' Several people expressed their shock at the staff's behaviour on social media. More Trending One person wrote: 'Shocking! Even if the customers were completely in the wrong, it absolutely gives the staff no right to react that way. 'Especially a group of men kicking and punching women when they're cowering on the floor. I thought I'd seen it all until now. Get them closed down and gone and restore the Marmaris we use to love!' Another posted: 'This is absolutely wild. This place needs closing down. I love Marmaris and am a 32 year visitor. I don't go to armutalan or any of these kinds of places but I'm shocked at seeing grown men kicking a woman in the street!' It is not clear if the women sustained injuries in the attack. Get in touch with our news team by emailing us at webnews@ For more stories like this, check our news page. To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video MORE: Footballer Paige Bowyer-Walker, 20, dies after being hit by car in Turkey MORE: The cheapest package holiday destinations for 2025 as Spain and Cyprus soar in price MORE: Mum stuck in Turkey 'could lose entire breast' after botched boob job
The Irish Sun
14-07-2025
- The Irish Sun
Moment Brits including woman are beaten and kicked by Turkish ‘Mad Boys' bouncers in row over bill and ‘insulting flag'
THIS is the shocking moment British tourists were brutally beaten and stamped on by bouncers at a popular Turkish restaurant. The melee came after a row reportedly erupted over an unpaid bill and alleged insults against Turkey's national flag. Advertisement 6 British tourists were brutally beaten and stamped on by bouncers outside a restaurant in Turkey Credit: @ marmaris_anlik / instagram 6 One person, apparently a member of staff, jumps out a window to join the fight Credit: @ marmaris_anlik / instagram 6 The restaurant, Mad Boys, was sealed off indefinitely Credit: @ marmaris_anlik / instagram Footage from the scene captures a wild brawl on the pavement involving tourists and staff outside the 'Mad Boys' restaurant in Marmaris on June 2. The British tourists have not been formally identified, but Turkish media including The clip begins with a heated argument before exploding into violence as male employees launch into a flurry of punches and kicks. Two tourists fall to the ground and are seen being repeatedly kicked while lying on the pavement. Advertisement Read more on Brits abroad One person, apparently a staff member, can be seen leaping out of a window to join the fight. Screams from horrified bystanders ring out as a young male tourist square up to one of the bouncers, shadow boxing in a desperate attempt to defend himself. Two women can be seen trying to de-escalate the situation - only to be caught in chaos, punched and stamped on as they too collapse to the floor. The brawl reportedly stemmed from a 5,000 TL (£92) bill dispute, with the restaurant accusing the tourists of refusing to pay and provoking the fight. Advertisement Most read in The Sun According to AKŞAM, a manager at Mad Boys claimed the British tourists insulted Turkish staff and the flag, and attacked first. Shocking moment sunbathers erupt into huge brawl on Brit beach for the SECOND time in a week as punches thrown on sand The restaurant also alleged that one woman hit a staff member with her handbag. But it wasn't until the graphic footage began circulating online that the incident sparked widespread public outrage and triggered an official investigation. Although police were initially called to the scene, the case was closed when neither party filed a complaint. That changed once the video went viral. Advertisement As a result, five staff members were detained, AKŞAM reported. The venue was sealed off indefinitely, and municipal officials later cited building violations as an additional reason for the shutdown. The Marmaris District Governor's Office condemned the violence in a public statement, saying: 'It should be known that violence against women is completely unacceptable in Muğla. 'Our state stands firmly against all forms of violence against women. Judicial and administrative investigations into the business and its employees are being meticulously conducted, and all developments are being closely monitored.' Advertisement 6 A heated argument reportedly broke out before the violent brawl erupted Credit: @ marmaris_anlik / instagram 6 The restaurant claims the tourists provoked the chaos Credit: @ marmaris_anlik / instagram Earlier CCTV footage appears to show a woman lashing out with her handbag moments before the fight began. One staffer, Adar Akçın, claimed he was insulted and later attacked by the tourists, reports Turkish outlet T24. Advertisement His version echo the ones by the owner's brother, Hayrettin Akçın, who claimed: 'The police were called when the customers in question left without paying. At that moment, one of the women attacked my brother with a bag and a fist. 'She provoked the situation with her young child. Everything is clearly visible in the camera footage. 'We and our employees were insulted. There was severe provocation. Of course, we do not condone violence, but the incident was portrayed one-sidedly.' The Sun has contacted the UK Foreign Office and local police in Marmaris for more information. Advertisement 6 Five staff members were detained as a result of the fight Credit: @ marmaris_anlik / instagram
Scottish Sun
14-07-2025
- Scottish Sun
Moment Brits including woman are beaten and kicked by Turkish ‘Mad Boys' bouncers in row over bill and ‘insulting flag'
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THIS is the shocking moment British tourists were brutally beaten and stamped on by bouncers at a popular Turkish restaurant. The melee came after a row reportedly erupted over an unpaid bill and alleged insults against Turkey's national flag. Sign up for Scottish Sun newsletter Sign up 6 British tourists were brutally beaten and stamped on by bouncers outside a restaurant in Turkey Credit: @ marmaris_anlik / instagram 6 One person, apparently a member of staff, jumps out a window to join the fight Credit: @ marmaris_anlik / instagram 6 The restaurant, Mad Boys, was sealed off indefinitely Credit: @ marmaris_anlik / instagram Footage from the scene captures a wild brawl on the pavement involving tourists and staff outside the 'Mad Boys' restaurant in Marmaris on June 2. The British tourists have not been formally identified, but Turkish media including Aksam confirmed they were foreign nationals from the UK. The clip begins with a heated argument before exploding into violence as male employees launch into a flurry of punches and kicks. Two tourists fall to the ground and are seen being repeatedly kicked while lying on the pavement. One person, apparently a staff member, can be seen leaping out of a window to join the fight. Screams from horrified bystanders ring out as a young male tourist square up to one of the bouncers, shadow boxing in a desperate attempt to defend himself. Two women can be seen trying to de-escalate the situation - only to be caught in chaos, punched and stamped on as they too collapse to the floor. The brawl reportedly stemmed from a 5,000 TL (£92) bill dispute, with the restaurant accusing the tourists of refusing to pay and provoking the fight. According to AKŞAM, a manager at Mad Boys claimed the British tourists insulted Turkish staff and the flag, and attacked first. Shocking moment sunbathers erupt into huge brawl on Brit beach for the SECOND time in a week as punches thrown on sand The restaurant also alleged that one woman hit a staff member with her handbag. But it wasn't until the graphic footage began circulating online that the incident sparked widespread public outrage and triggered an official investigation. Although police were initially called to the scene, the case was closed when neither party filed a complaint. That changed once the video went viral. As a result, five staff members were detained, AKŞAM reported. The venue was sealed off indefinitely, and municipal officials later cited building violations as an additional reason for the shutdown. The Marmaris District Governor's Office condemned the violence in a public statement, saying: 'It should be known that violence against women is completely unacceptable in Muğla. 'Our state stands firmly against all forms of violence against women. Judicial and administrative investigations into the business and its employees are being meticulously conducted, and all developments are being closely monitored.' 6 A heated argument reportedly broke out before the violent brawl erupted Credit: @ marmaris_anlik / instagram 6 The restaurant claims the tourists provoked the chaos Credit: @ marmaris_anlik / instagram Earlier CCTV footage appears to show a woman lashing out with her handbag moments before the fight began. One staffer, Adar Akçın, claimed he was insulted and later attacked by the tourists, reports Turkish outlet T24. His version echo the ones by the owner's brother, Hayrettin Akçın, who claimed: 'The police were called when the customers in question left without paying. At that moment, one of the women attacked my brother with a bag and a fist. 'She provoked the situation with her young child. Everything is clearly visible in the camera footage. 'We and our employees were insulted. There was severe provocation. Of course, we do not condone violence, but the incident was portrayed one-sidedly.' The Sun has contacted the UK Foreign Office and local police in Marmaris for more information.
Time of India
12-07-2025
- Business
- Time of India
Why Saudis are travelling more than ever and how Vision 2030 is behind the shift
TL;DR: Saudis are travelling more within the Kingdom and beyond, with digital-first behaviour and flexible travel habits gaining ground. This rise reflects not just seasonal patterns, but deeper economic shifts tied to tourism reforms under Vision 2030 . Luxury remains popular, but alternative lodging and mixed-carrier bookings suggest evolving preferences. Tired of too many ads? go ad free now Riyadh's investment in infrastructure, heritage, and global branding is positioning the Kingdom as a top-tier destination. Saudis Are Booking More and Differently A recent Almosafer report shows that travel bookings by Saudi residents rose across the board during the first quarter of 2025. People are not just flying more, they're choosing new destinations, more flexible airline options, and a broader mix of accommodations. Solo travel continues to lead, but families and group travellers are also increasingly active, especially within the region. Destinations like Dubai, Doha, London, and Paris remain favourites, while places like Milan, Prague, and Bangkok are gaining traction. In domestic travel, cultural hubs like AlUla, Diriyah, and Abha are being rediscovered not just for leisure, but for heritage and wellness tourism. Digital and Flexible Travel Gains Ground Saudi travellers today are making faster decisions, often via apps. A large share of bookings is now done through smartphones, with flexible payment options like Buy Now Pay Later and Apple Pay becoming increasingly common. Mixed-carrier round trips, where travellers combine full-service and budget airlines are on the rise. Meanwhile, luxury hotels still dominate, but there's a growing comfort with serviced apartments, short-term rentals, and mid-range properties, especially for international trips. This behavioural shift signals a more seasoned, value-conscious Saudi traveller; one that blends comfort with flexibility. How Vision 2030 Is Powering the Shift Saudi Arabia's travel momentum isn't a coincidence, it's the outcome of sustained investment under Vision 2030, the Kingdom's ambitious reform plan to diversify its economy and reduce dependence on oil. Tired of too many ads? go ad free now The strategy puts tourism front and centre. Landmark projects like NEOM, the Red Sea Global, Amaala, and Diriyah Gate are not just urban developments, they are lifestyle brands designed to attract millions of tourists annually. Key pillars of this tourism revival include: Cultural revival : Restoration of ancient sites like AlUla and Diriyah is reshaping Saudi Arabia's image from closed desert to cultural crossroads. : Restoration of ancient sites like AlUla and Diriyah is reshaping Saudi Arabia's image from closed desert to cultural crossroads. Relaxed visa rules : New eVisa systems, expanded tourist categories, and multi-entry options have made access easier than ever. : New eVisa systems, expanded tourist categories, and multi-entry options have made access easier than ever. Transport infrastructure : Massive upgrades at Riyadh, Jeddah, and Dammam airports are enabling greater travel volumes with global reach. : Massive upgrades at Riyadh, Jeddah, and Dammam airports are enabling greater travel volumes with global reach. Global events strategy: From Formula E and LIV Golf to international expos and concerts, Saudi Arabia is becoming a year-round events destination. Vision 2030 has reframed tourism as a long-term growth engine, with goals of attracting over 100 million tourists annually and creating one million new tourism jobs in the coming years. Why This Rise in Travel Demand Really Matters The increase in travel bookings during early 2025 is more than just a seasonal trend. It represents a critical turning point in Saudi Arabia's socio-economic transformation. Travel demand is often a bellwether of middle-class growth, consumer confidence, and the diversification of leisure habits and all of which are central to Vision 2030's success. The growth also supports multiple adjacent industries, such as aviation, hospitality, food services, entertainment, and retail. As Saudi residents explore more local destinations, they contribute to job creation in underdeveloped regions and help balance growth beyond the traditional economic centres of Riyadh and Jeddah. Additionally, outbound travel increases the exposure of Saudi citizens to global cultures and services, potentially creating feedback loops that raise expectations for domestic offerings and service standards. This dynamic could spur more competition and innovation within the Kingdom's own tourism sector. A Look at What Comes Next With more infrastructure coming online and mega-projects like Amaala, AlUla expansion, and Riyadh Air set to launch full operations in the coming years, Saudi Arabia is positioning itself as both a source market and a destination for global travellers. Tourism is no longer seen as a complementary industry in the Kingdom. It is becoming a driver of sustainable economic growth, cultural exchange, and national branding. The challenge ahead lies in maintaining this upward momentum while ensuring quality, sustainability, and regional equity in how tourism benefits are distributed. Saudi Arabia's early 2025 travel boom is not just about where people are going, instead it is about where the country itself is heading. Backed by digital convenience, rising affluence, and state-led ambition, the Kingdom is reshaping its place on the global tourism map. The real journey, it seems, is only just beginning.
