Shanghai’s long-term lockdown due to the epidemic has resulted in poor logistics and a shortage of raw materials. As the primary victims, locals lack daily necessities and even food.
Some enterprises have taken advantage of the situation to store vegetables and push prices. As a result, locals have no other choice but to buy these necessities at sky-high prices.
According to the Shanghai police report on April 17, a man named Gao illegally rented a food business license to hoard many vegetables, eggs, and daily necessities before selling them at high prices.
Within seven days, Gao’s revenue has reached 1.75 million CNY (around $262,000), while his profit has hit around 1.5 million CNY (around $225,000). Later, Gao was accused of running illegal business activities.
However, Gao’s case is only considered the tip of the iceberg. A video clip recently spreading online has revealed the underlying cause of the skyrocketing prices in Shanghai.
Sharing in the footage, a woman complains about how high a price she has to pay for vegetables.
While many residents suppose that the cause of sky-high prices comes from traders, who store up merchandise to sell the goods at higher prices, the woman has a different thought.
She said that without the backing from the officials, the traders would not dare to do these deeds. The woman raised several questions to explain her thoughts,
“Are there any merchants who would naturally dare to do this? Which merchant is so profitable? Why don’t you shoot him? If there was no official backing, who would dare to do this?”