The Chinese/American CNN reporter stationed in Shanghai and giving us great insight underlines this:
Shanghai is the wealthiest, most conservative city in China
These protests take place in the middle of the wealthiest section of Shanghai and many in the crowd are older Chinese with money
The call and response from everyone in the crowd pointedly cried for Xi to resign and for the CCP to lose its grip on China
CNN reporter calls moment during historic China protests ‘shocking’
#CNA Report: Police clash with protestors in third day of demonstrations against COVID-19 curbs across China
#The Guardian News Clip from China: Video shows BBC journalist’s arrest during Covid protest
More from The Telegraph which claims police beat and kicked the downed BBC Reporte:
# Protesters gather outside China’s embassy in London
https://archive.ph/oPlHD
4 minute read · November 30, 2022 3:15 AM UTC · Last Updated 3 min ago
COVID protests escalate in Guangzhou as China lockdown anger boils
By Brenda Goh
and Martin Quin Pollard
[1/5] Protesters chant slogans in support of freedom of speech and the press, amid broader nationwide unrest due to COVID-19 lockdown policies, in Chengdu, China in this still image obtained from undated social media video released November 27, 2022. Video obtained by REUTERS
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SHANGHAI/BEIJING, Nov 30 (Reuters) - People in China’s southern manufacturing hub of Guangzhou clashed with white hazmat-suited riot police on Tuesday night, videos on social media showed, as frustration with stringent COVID-19 rules three years into the pandemic boiled over.
The clashes marked an escalation from protests in the commercial hub of Shanghai, capital Beijing and other cities over the weekend in mainland China’s biggest wave of civil disobedience since President Xi Jinping took power a decade ago.
In one video circulating on Twitter, dozens of riot police in all-white pandemic gear, holding shields over their heads, are seen advancing in formation over what appeared to be torn down lockdown barriers as objects fly at them.
Summary
Between the normal seasonal upturn and new stimulus policies, auto sales ought to be surging. Instead, October is down from July and below October 2020 levels. Data through November 20.
Of more concern to investors, NEVs actually fell in market share, and EV sales declined. The EV venture Weltmeister is in serious trouble.
Meanwhile, short-term headwinds include “zero covid” policies, declining real estate prices, and attendant bank and local government fiscal issues.
The bottom line: sell Chinese automotive stocks – particularly Tesla, BMW, Mercedes and VW – before the downturn gets fully priced in.