Chinese Economics Thread

[pipaster]

How are they (the chattering nutmegs of the west) can even dent the chance of Xi's impending 3rd term? In what world is that idiotic chants going to be effective at all?

Maximize pressure, gather friends, salami slice. Message Xi is the primary factor for all this.

The idea isn't necessarily to prevent the third term, but to weaken his ability to make effective policy when he does. Particularly in the international sphere.

Use sticks to provide negative reinforcement in the eyes of Chinese elites. Gather allies in the region to use as pawns.

 

[siegecrossbow]

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[LawLeadsToPeace]

I have a question for any of you guys that are familiar with China's youth unemployment rate: What is the cause behind that rate? I know that Western media loves to overhype miniscule stuff. However, considering the fact that the official employment data is showing that a decent chunk of the city youth are unemployed, it is clearly an issue, and there has to be a reason behind this phenomenon.

 

[In4ser]

I have a question for any of you guys that are familiar with China's youth unemployment rate: What is the cause behind that rate? I know that Western media loves to overhype miniscule stuff. However, considering the fact that the official employment data is showing that a decent chunk of the city youth are unemployed, it is clearly an issue, and there has to be a reason behind this phenomenon.

I'm assuming it's similar to the West where kids don't want to work the same hours or types of jobs their parents did. Chinese have raised their professional expectations to want white-collar jobs at the offices and have "lying down" protests at work because feel that the opportunities presented to them are beneath them because they have college degrees and or financial security from parents. Wealth and success tend to make people soft and lazy especially from one generation to the next.

IMO China needs to try to continue its promotion of vocational work and school as well as rehabilitate its image as being a lower-class work compared to finance or IT.

 

[SanWenYu]

I'm assuming it's similar to the West where kids don't want to work the same hours or types of jobs their parents did. Chinese have raised their professional expectations to want white-collar jobs at the offices and have "lying down" protests at work because feel that the opportunities presented to them are beneath them because they have college degrees and or financial security from parents. IMO China needs to try to continue its promotion of vocational work and school as well as rehabilitate its image as being a lower-class work compared to finance or IT.

This. And the service sectors, entertainment and hospitality in particular, suffer the most during the pandemic.

 

[ZeEa5KPul]

I'm assuming it's similar to the West where kids don't want to work the same hours or types of jobs their parents did. Chinese have raised their professional expectations to want white-collar jobs at the offices and have "lying down" protests at work because feel that the opportunities presented to them are beneath them because they have college degrees and or financial security from parents. Wealth and success tend to make people soft and lazy especially from one generation to the next.

IMO China needs to try to continue its promotion of vocational work and school as well as rehabilitate its image as being a lower-class work compared to finance or IT.

The bolded part is what you call a good problem. Who wants to get a STEM degree and then go slave away in a factory? If the Chinese economy can't provide useful people with jobs then shame on the Chinese economy. If you have a worthwhile degree, unskilled work is beneath you. Just to be clear, a vocational job like machinist is skilled work and should be promoted, unskilled work is something like making shoes.

China has more youth unemployment because China has more educated youth and its economy still hasn't rebalanced sufficiently into high skilled, high value added jobs. It will take time, unfortunately.

 

[Chish]

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How long can China turns the remaining $981 billions Treasury securities and it's foreign reserves into gold while requesting more Yuan payments in its trades?
Countries with huge reserves in US dollars must be getting nervous. Can US be trusted to honour their reserves?

 

[Minm]

I have a question for any of you guys that are familiar with China's youth unemployment rate: What is the cause behind that rate? I know that Western media loves to overhype miniscule stuff. However, considering the fact that the official employment data is showing that a decent chunk of the city youth are unemployed, it is clearly an issue, and there has to be a reason behind this phenomenon.

Not claiming to be familiar with the details, but of course there is quite a bit of uncertainty because of the covid lockdowns. If you don't know if your business is going to be locked down next month, you're not going to hire more people. But as soon as zero covid ends, the economy will be primed for bouncing back.

What I find most amazing is that the economy is still growing overall despite the troubles in housing and lockdowns. Economic activity is shifting into other sectors and to the poorer, rural areas, which should lead to a much healthier economy in the future. But while zero covid continues, there will be a drag on the economy. For now, zero covid has been used to restructure the economy in a positive way, but I don't think it can be continued for another year.

 

[Biscuits]

How long can China turns the remaining $981 billions Treasury securities and it's foreign reserves into gold while requesting more Yuan payments in its trades?
Countries with huge reserves in US dollars must be getting nervous. Can US be trusted to honour their reserves?

Generally China simply uses US dollars to buy assets in 3rd world countries which in return are used to send tangible resources back.

People who think US has an advantage paying with worthless money to China don't realize that China is just the middleman, they pass the dollars further down the road, where they end up draining the wealth of countries too stupid to oppose the USA.

 

[PopularScience]

I have a question for any of you guys that are familiar with China's youth unemployment rate: What is the cause behind that rate? I know that Western media loves to overhype miniscule stuff. However, considering the fact that the official employment data is showing that a decent chunk of the city youth are unemployed, it is clearly an issue, and there has to be a reason behind this phenomenon.

graduation season