“In July last year, Chinese scholar Zhang Dandan, an associate professor at Peking University, stated in a research article that if the approximately 16 million young people who are doing nothing but mooching off their parents were considered unemployed, the actual youth unemployment rate in March last year would have been as high as 46.5 percent.”
As always, Peter, I am impressed that you can succinctly make sense of convoluted data and explain it so well. “Beijing is stuck in a policy straitjacket” sums it up perfectly. China is in deep trouble and cannot win. I get the sense that all of their officials now are just trying to placate their political bosses enough mismatched policy decisions in a futile effort to keep from being blamed for the impending economic disaster. (Run!)
They are so thoroughly painted into a corner that what will be interesting now is how it affects the rest of the world. For example, I’ve read that Vancouver, BC has had, for several decades now, a large population of Chinese ex-pats. It would be interesting to see the growth rate of that
“In July last year, Chinese scholar Zhang Dandan, an associate professor at Peking University, stated in a research article that if the approximately 16 million young people who are doing nothing but mooching off their parents were considered unemployed, the actual youth unemployment rate in March last year would have been as high as 46.5 percent.”
(From today’s Epoch Times: https://www.theepochtimes.com/china/ccp-released-unemployment-rate-definitely-concerning-for-chinese-economy-experts-say-5611696?utm_source=ref_share&utm_campaign=copy)
Add THAT to China’s hopeless dilemma - 46.5% of China’s youth unemployed?
The question is whether China will have a long deflationary period like Japan had, or if China will explode into public revolutionary turmoil!
As always, Peter, I am impressed that you can succinctly make sense of convoluted data and explain it so well. “Beijing is stuck in a policy straitjacket” sums it up perfectly. China is in deep trouble and cannot win. I get the sense that all of their officials now are just trying to placate their political bosses enough mismatched policy decisions in a futile effort to keep from being blamed for the impending economic disaster. (Run!)
They are so thoroughly painted into a corner that what will be interesting now is how it affects the rest of the world. For example, I’ve read that Vancouver, BC has had, for several decades now, a large population of Chinese ex-pats. It would be interesting to see the growth rate of that