Main Topic: China's declining fertility rate and efforts to boost birth rates.
Key Points:
1. China's fertility rate has dropped to a record low of 1.09 in 2022, the lowest among countries with a population of over 100 million.
2. Beijing is concerned about the country's first population drop in six decades and its rapidly aging population, and is implementing measures to increase the birth rate.
3. High child care costs, career interruptions, gender discrimination, and traditional stereotypes are factors contributing to the low fertility rate.
### Summary
Millions of graduates in China are facing an increasingly difficult job market, with soaring youth unemployment rates and a slowdown in post-Covid economic recovery leading to a lack of job opportunities and increased anxiety among jobseekers.
### Facts
- Youth unemployment in China hit a record high in June, with 21.3% of people aged 16 to 24 being jobless.
- Graduates like Zhang, who has a psychology major, are struggling to find employment in their chosen fields despite sending out numerous job applications.
- The Chinese government recently decided to stop publishing age-related employment data, causing concerns about the true extent of youth joblessness.
- Inexperienced candidates attending career fairs in Beijing are finding it challenging to secure their first or second jobs, with employers mainly seeking staff for low-paying sales and administrative positions.
- The weak consumer demand and slower economic rebound after the Covid-19 pandemic have made companies reluctant to hire new employees.
- Companies that have survived the pandemic are now more selective in their hiring and prioritize survival over expansion.
- Some young jobseekers are facing difficulties due to limited development opportunities in certain industries and feel that government policies have not caught up.
- The Chinese government has introduced measures to boost consumption, such as large-scale festivals and sporting events, but more needs to be done to boost consumers' and employers' confidence.
- The insurance industry seems to have more job opportunities available, with many insurance companies looking to hire sales representatives.
- Despite the availability of positions in the insurance industry, job security and guaranteed income may be lacking.
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### Summary
Last week, Moody's warned that China's aging population will impact demand for homes, reduce the labor pool, and have an impact on competitiveness. Age dependency ratios in China are increasing, indicating a higher need for healthcare services and pension payouts.
### Facts
- Moody's warned that China's aging population will be a drag on economic potential if policy measures fail to boost the birthrate and promote productivity.
- China's aging population will impact demand for homes and reduce the labor pool, leading to higher wages and a negative impact on competitiveness.
- Demographics will support housing demand in Indonesia and Vietnam over the next decade, while China experiences the opposite trend.
- The age dependency ratio in China has been increasing, indicating a higher need for healthcare services and pension payouts.
- India's growth trajectory has not been significantly impacted by demographic factors historically, but efforts to maximize productivity and create opportunities can change that.
- Technological and institutional innovations can ameliorate the effects of population aging.
- India has an opportunity to tap into China's worsening demographic and seize the moment, potentially surpassing Vietnam and Indonesia.
(Source: Hindustan Times)
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 economy, which has been a model of growth for the past 40 years, is facing deep distress and its long era of rapid economic expansion may be coming to an end, marked by slow growth, unfavorable demographics, and a growing divide with the US and its allies, according to the Wall Street Journal.
A record number of Chinese graduates are facing difficulties in finding employment, with soaring youth unemployment and a challenging job market driven by the country's post-Covid economic slowdown.
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.
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.
Youth unemployment remains high in most countries, with Spain having the highest rate at nearly 27.4%, indicating potential long-term impacts on young adults' careers and overall economic prospects.
China's government is concealing economic figures and data, including youth unemployment rates, as experts believe it prioritizes stability over transparency, leading to concerns and doubts about the true state of the country's economy.
China's economy is showing signs of slowing down, including a decrease in GDP growth rate, declining exports, deflationary consumer price index, high youth unemployment, a weakening yuan, and a decrease in new loans, which could have global implications.
China's economic growth has slowed but has not collapsed, and while there are concerns about financial risks and a potential property crisis, there are also bright spots such as the growth of the new energy and technology sectors that could boost the economy.
China's economy has entered deflation territory and the debt crisis has worsened, while India's economy is thriving with GDP growth expected to exceed 7% and unemployment rates at a 12-year low; it is predicted that India will surpass China in per capita income by 2044 due to factors such as female education expansion, labor force growth, and higher total factor productivity growth.
China's economic data for August shows a mixed picture, with retail sales and production on the rise, property investment declining, and the urban jobless rate ticking downward, leading experts to believe that while there may be modest improvements in growth, a strong recovery is still unlikely.
China's youth unemployment and a desire for independence have led to a rise in young people becoming social media influencers, with some making significant earnings by charging companies to promote their products, but the long-term sustainability of this career path remains uncertain.
