Chinese Investors Utilize Unlikely Platform to Express Frustration over Economic Woes
ICARO Media Group
In a surprising turn of events, Chinese investors have found an unconventional outlet to voice their discontent with their country's struggling economy - a post about giraffes on the US Embassy's Weibo account. The post, showcasing the use of AI and GPS to monitor wild giraffes in Africa, was flooded with over 165,400 comments, with investors seizing the opportunity to air their grievances about China's faltering financial state, hoping to circumvent Chinese censors.
China and Hong Kong's stock markets have reportedly experienced staggering losses amounting to $7 trillion since reaching their peaks in 2021, as reported by Bloomberg. The Weibo account of the US embassy in China has now turned into a platform for Chinese retail equity investors to express their concerns and frustrations, becoming what one user described as the "Wailing Wall" of investors, according to Reuters. Notably, many comments were later deleted, highlighting the extent of government censorship and people's determination to avoid being silenced.
Seeking assistance, some individuals implored the US government to aid Chinese stock investors. Others criticized the stock market, likening it to a "casino" or an "execution ground," as reported by Bloomberg. The level of anger expressed by investors has reached an extreme level, with one Weibo user cited by Bloomberg stating the sentiment.
Interestingly, some netizens resorted to humor and sarcasm to evade social media restrictions. Drawing inspiration from China's national anthem, one individual wrote, "Arise! All giraffes who refuse to be slaves," cleverly adapting the anthem's lyrics. Another commenter remarked, "The entire giraffe community is filled with optimism," seemingly referencing a state-owned newspaper article about the visit of a German politician with a headline promoting national optimism.
This incident sheds light on the stringent censorship prevalent in China's media industry, where digital news and social media platforms are strictly controlled. Popular platforms like Facebook and Instagram are prohibited, and even allowed platforms like Weibo are monitored by the government. It appears that such censorship measures are part of a government campaign to stifle criticism of China's financial situation.
Reports from The New York Times and The Wall Street Journal revealed that authorities have deleted numerous Chinese online news articles critical of the country's economy. In an official statement on China's Ministry of State Security WeChat account, citizens were cautioned against believing "false narratives" about the country's trajectory, as detailed by the NYT report. Additionally, top officials have emphasized the importance of highlighting the positive outlook of China's economy, according to the Journal.
The US Embassy in Beijing has not yet commented on the influx of frustrated investors on their Weibo post. As the disgruntlement of Chinese investors continues to mount, this unexpected convergence of giraffes and economic grievances has underscored the challenges faced by both the government's censorship efforts and citizens' determination to have their voices heard.