A record 11.6 million college graduates are entering the work force this year, and one in five young people is unemployed.
1 Like
Pretty sure these unemployed young people arenāt in a hurry to get married and start a family.
āAsking us to eat bitterness is like a deception, a way of hoping that we will unconditionally dedicate ourselves and undertake tasks that they themselves are unwilling to do,ā Ms. Li said.
There are more new college graduates every year in China than there are newborns.
A country in death spiral.
1 Like
These are the people Xi personally destroyed. And yet so many brainwashed still worship him. Tragic.
Many people are struggling emotionally. A young woman in Shanghai named Ms. Zhang, who graduated last year with a masterās degree in city planning, has sent out 130 rĆ©sumĆ©s and secured no job offers and only a handful of interviews. Living in a 100-square-foot bedroom in a three-bedroom apartment, she barely gets by with a monthly income of less than $700 as a part-time tutor.
āAt my emotional low point, I wished I were a robot,ā she said. āI thought to myself if I didnāt have emotions, I would not feel helpless, powerless and disappointed. I would be able to keep sending out rĆ©sumĆ©s.ā
This man got it all backwards. Xi wants the glory of an emperor ruling over a vast state. āRejuvenation of Chinese stateā has nothing to do with peons like him.
Go back to eating bitterness suckers.
Mr. Xi ātalks about the great rejuvenation of the Chinese nation all the time,ā said Steven, who graduated from a top U.K. university with a masterās degree in interactive design and has yet to find a job. āBut isnāt the rejuvenation about not everyone engaging in physical labor?ā Because of the rapid development of robots and other technologies, he said, these jobs are easily replaceable.
Yea talk about how America is in decline and China is rising.
Of 13 Chinese graduates from his school, the five who chose to stay in the West have found jobs at Silicon Valley or Wall Street firms. Only three of the eight who returned to China have secured job offers. Steven moved back to China this year to be closer to his mother.
Good news is heās finally waking up. But itās already too late.
āMy best way out,ā he said, āis to persuade my parents to let me run away from China.ā
NYT 
WSJ HWC Donāt follow them. Evil propaganda and written to incite social unrest.
AFAIK, many graduates of a certain nation also canāt find jobs. They borrow student loans and are now pressurizing the government to forgive those loans.
Japanās experience in dealing with excess capacity in the 80s. Rumor has it that Elon was summoned to Beijing to talk about excess capacity at Teslaās Shanghai plant.
Japan did two things that China is also doing: 1) inflating multiple asset bubbles; and 2) building roads to nowhere. Letās see if China has different outcome than Japan.
Chinaās youth unemployment over time. 2023 is bad despite āeconomic recoveryā.
Asia is booming except China. India is near record high, Japan at 30 year high, and Korea about to enter bull market.
1 Like
China back to doing No.1. The problem with bubble is that it will pop one day. Nobody knows the exact date though.
Chinaās RE bubble is already bigger than Japanās in the 80s.
1 Like
Chinese household debt soaring. Americans actually more financially responsible. Who would have thought?
2 Likes
This is a very interesting interview of three recent graduates in China. Too bad itās only in mandarin. They have great troubles looking for work and are super pessimistic about both their own and their countryās future. All three want to leave China. None wants to have kids.
The host also asked what they think of Xiās telling them to eat bitterness. They all said itās bullshit. The new generations donāt want to go back to their grandparentsā time. They have tasted the fruits of modern development and itās impossible, even with Xiās absolute power, to simply ask them to lower their standards.
The last guy is very interesting. He got dissatisfied with his life and began searching for answers. That led him to get over Chinaās internet censors and read all about CCPās dirty history. This is the thing Xi needs to worry about. People may start asking tough questions.
For those who donāt understand Mandarinā¦
First:
Main reason canāt get a job because insists on no overtime work. Want work-life balance. Also donāt want to work in a male-dominated environment. Donāt want to work in jobs that can possibly replace by AI. Donāt want to work hard and long hours. Donāt want to have kids because too hard to take care. Is a 2nd gen wealthy kidā¦ mother is successful businesswoman. Got a few job offers, reject them because not ideal.
ā¦
Canāt be bother to watch the rest.
Interpreted by an independent guy who doesnāt have any emotional baggage.
I thought you knew the concept of āovertime workā is vastly different in China compared to the West.
First, there is no overtime pay. You just get the same low monthly salary. Second, the hours are much longer. The famous 996: Work from 9am to 9pm, 6 days a week. Third, itās not like you work overtime to catch up on some deadline and that it will go back to normal. Employees are expected to work 996 schedule day in day out. No end in sight.
Itās not unheard of some fairly young people literally just died of exhaustion on their desks.
You knew the first person is a man, right? Anyway, he retold a story of his female friend. Got a low-paying job and immediately got sexually harassed by her boss. But she doesnāt dare to resign because itās so difficult to find work in China.
You missed some good stuff, esp the last person. He actually wants to have kids, but only after he succeeds in escaping China.
I gather from all this that Chinese youth are getting as lazy and entitled as American youth.
Not good.
Someone needs to move humanity forward. If not us than someone else.
Our seed is thin.
Which nation gives overtime pay for white collar?
Listen to the start a few times, didnāt say is recounting for a female friend.
Cold War 2.0 in full swing. Letās hope it wonāt get hot.
Bloomberg reports China is considering a massive stimulus package. Good grief. Economy has slipped into deflation and only now āconsideringā stimulus?
Anyway, if Xi unleashes massive stimulus, Chinese stocks may rally. Some of the liquidity may find its way in the US stock market and some may even end up in crypto. Very bullish short term, at the expense of long term debt overhang.