A bruising price war between ride-hailing companies Uber, Bolt and local start-ups Little and Faras has driven fares down to a level that many drivers say is unsustainable.
One is that countries start producing whatever they want, a price war ensues, and oil prices tumble. Analysts reckon that this is the least likely outcome.
According to China Economic Weekly, the price war began on Aug. 1 when Freshippo, known as Hema in Chinese, cut the price of its durian layer cake from 128 yuan ($17.60) to 98.90 yuan in Beijing and Shanghai.
As if the pandemic were not enough of a problem, in March Saudi Arabia instigated a price war with Russia, as their deal over production levels broke down.