China is going through a rising listing of issues — actual property, semiconductor bans and labor market gyrations.
The world’s second-most populous nation additionally has a significant youth unemployment drawback.
China’s city youth unemployment charge has risen to 21% as of Could 2023, up from 15.4% two years earlier.
“Let’s not overlook concerning the draconian lockdown measures,” says Fang Xu, city sociologist on the College of California, Berkeley. “The younger persons are nonetheless recovering.”
This comes because the world’s second-largest economic system faces a more durable time getting out of the Covid pandemic than many consultants estimated, which has broader impacts on the power of buyers to place cash to work within the nation, and the struggling property sector.
Watch the video above to study extra about China’s city youth unemployment image and the way the world’s second-largest economic system is responding.
