In Shanghai, many delivery drivers are caught in a cycle of financial insecurity due to China's deflationary pressures. Workers like Cao Zhi have found that their earnings are eroding, forcing them to work longer hours just to maintain the same income. With prices remaining low on everyday goods, consumers are tightening their spending, further suppressing business profits. This situation is compounded by a challenging trade environment, creating additional obstacles for many Chinese workers who are already juggling debts and seeking better job prospects.
Cao Zhi, a delivery driver for Ele.me, expressed the universal struggle for financial stability in China: 'I feel that it is universal. Most of my friends have experienced a similar earnings erosion.'
China's ongoing deflation, worsened by a property crisis, is creating a financial insecurity for workers who are caught in a cycle of falling prices.
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