Qingdao, also known as the "City of Cakes and Wine", is a city in Shandong Province that has seen significant growth over the past few decades. However, this success has come at a cost - the city has experienced consecutive losses in recent years.

In 2017, Qingdao lost $4 billion in annual revenue from its tourism industry, marking the first time in the history of the city that it had ever lost money on tourism. This loss was attributed to several factors, including the COVID-19 pandemic, which disrupted international travel and led to a decline in demand for domestic travel.

Another significant challenge facing Qingdao is its reliance on natural resources. The city's economy heavily relies on coal and oil imports, and these sources have been subject to price fluctuations and supply disruptions. In 2020, the price of oil reached an all-time high, causing a significant impact on Qingdao's economy.

Despite these challenges, Qingdao continues to attract foreign investment and attract visitors. The city's economic development has been praised by many, but there are still concerns about its sustainability. To address these concerns, Qingdao needs to invest more in renewable energy and sustainable practices, such as reducing carbon emissions and improving waste management.

Overall, Qingdao faces numerous challenges in terms of growth and sustainability. While the city may face some challenges in the future, with continued investments in renewable energy and sustainable practices, Qingdao remains a promising destination for both tourists and businesses alike.