China is facing a severe economic downturn, with record youth unemployment, a slumping housing market, stagnant spending, and deflation, which has led to a sense of despair and reluctance to spend among consumers and business owners, potentially fueling a dangerous cycle.
China's youth unemployment rate has reached record highs, with many young people refusing to find jobs they deem unattractive, leading to the rise of "full-time children" who rely on family support, while others are forced into unstable and low-paying jobs in the platform economy; experts warn of the long-term impact on mental health and productivity.
China's decision to suspend reporting its July youth unemployment rate has sparked controversy and speculation that the government is trying to hide unfavorable statistics, particularly as young people in China face a dire employment situation due to the economic impact of COVID-19 and other factors.
Investors are becoming increasingly concerned about the state of China's economy as informal gauges, such as PMI surveys and soft surveys, indicate a deep-seated confidence problem and a potential miss of the country's 5% growth target this year, leading to a retreat from global assets exposed to the slowdown.
China's economy is facing challenges, with youth unemployment at a record high, mismatched skills in the job market, and the risk of falling into the middle-income trap, jeopardizing President Xi Jinping's goal of turning China into a high-income nation.
China's economy is experiencing a structural slowdown and becoming increasingly opaque, making it difficult for outsiders to understand the true state of the country's economic affairs, as President Xi Jinping prioritizes ideology over economic growth and transparency.
China's economy is facing significant challenges, including a property crisis, youth unemployment, and a flawed economic model, but the government's limited response suggests they are playing the long game and prioritizing ideology over effective governance.
China's urban youth unemployment rate has risen to 21% as of May 2023, creating further challenges for the country amidst the Covid pandemic and impacting its economy.
China's youth unemployment rate reaches a record high of 20.8 percent, indicating a struggling economy.
China's government has been less transparent and tolerant of bad economic news, leading to concerns about the country's economic stability and potential risks for investors.
