Chinese Economics Thread

[HighGround]

However, it remains extremely difficult for young people in China to afford a home in cities solely through their salaries. Young adults from ordinary families often require substantial financial support from their parents to start a household. My former boss once lamented this very issue: "In China today, it's the middle-aged and elderly who hold the wealth, while young people have barely a penny to their name!" I hope that China's high-quality growth over the next five to ten years will create more decent, high-paying jobs for the younger generation.

This is the case in most developed societies. Accumulation of wealth simply takes time.

 

[zbb]

My former boss once lamented this very issue: "In China today, it's the middle-aged and elderly who hold the wealth, while young people have barely a penny to their name!"

Isn't that normal and expected? People who have worked and saved for ~30 years should have a lot more wealth than 20 somethings who just entered the work force.

 

[supersnoop]

Landfills are dangerous to maintain anyway due to pent up flammable gases from decomposing garbage. It’s for the best that they are digging up old trash.

Evil CCP made Wall-E unemployed…

 

[FriedRiceNSpice]

However, it remains extremely difficult for young people in China to afford a home in cities solely through their salaries. Young adults from ordinary families often require substantial financial support from their parents to start a household. My former boss once lamented this very issue: "In China today, it's the middle-aged and elderly who hold the wealth, while young people have barely a penny to their name!" I hope that China's high-quality growth over the next five to ten years will create more decent, high-paying jobs for the younger generation.

You can't have both wealth creation from real estate prices going up and housing affordability.

Also, China's youth unemployment problem is greatly exaggeratedly, considering China also has one of the word's highest home ownership of more than 90%, as well as the huge household savings.

China's youth have it much better than the current graduating classes of college students in the US. Median first time homebuyer age in US has reached 40. Entry level jobs are non existent. Tech jobs are almost impossible to get, and those lucky enough to get one have to face zero job stability and 996.

 

[sunnymaxi]

This is a monumental shift.

Germany is now running a trade deficit in capital goods with China over a rolling 12-month period..

Chinese machinery exports to Europe roughly doubled to around €40bn in over six years and may reach €50bn this year.”

https://twitter.com/i/web/status/1988570810726883584

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