Except they are not doing this. They did print alot of money，however it has largely been circulating within banking system
Chinese Economics Thread
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Except they are not doing this. They did print alot of money，however it has largely been circulating within banking system
It took years of the government beating up the property sector, but people finally got the message. It's about time.
I should have commented on this the first time around but I missed it. That's exactly what the data shows in China's case. Look at the Coming Collapse of China flavour of the month - the unemployment rate among 16-24 year-olds - and contrast it with the rate among 25-33 year-olds. I don't have the data but I'll bet the latter is much lower for a simple reason: the Western media isn't harping on it.
Based on that, the hypothesis that getting older in China makes you more employable is well-supported by the evidence. There are a lot of reasons for that to be the case - the older you are, the more experience you have (which makes you more valuable as an employee) and the likelier you are to have realistic expectations for your career.
Demand is demand. Elderly people spend money on the same things young people do: food, shelter, entertainment, etc. In fact, their demand for medical services stimulates the critical sectors of biotechnology and medical technology. This is especially important in China's case since these sectors are still small and trailing technologically.
That's the American economy. Printing money in America causes inflation because there's no productivity to back the money printing, and America is busy decoupling itself from the productivity it was getting from China. There's no comparison between the Chinese and American economies.
Even if we keep the "from working age people" clause, define working age people. China's retirement age is at least a decade behind that of developed countries while its life expectancy is comparable (and in America's case, superior). I believe the coming 1-2 decades will see revolutionary advances in medicine - which I hope China leads - where life expectancy will increase dramatically. What's "working age" when the average life expectancy exceeds 100?
Robots are displacing humans all the time without being fully autonomous. If a company previously needed to hire 100 people for a given output now needs to hire only 20, those 80 people who would have otherwise been hired have been displaced. We could argue about other jobs in the economy being available to them, but that's another discussion.
As for their age, who is more productive - a 60 year-old sitting in an air-conditioned room operating mining equipment over a 5G connection, or a 20 year-old with a pickaxe? Let's make a fairer comparison, if the 60 year-old and 20 year-old were performing the same job, who would be more productive?
20 year-olds don't either. The average age of successful entrepreneurs is 45:
Looks like 618 sale went really well. Maybe June as a whole will be a lot better than may. I saw huge crowds from pictures at byd stores.
That is why the Trump tariffs, that the Biden has double down on, is a failure.
It is not about how China is doing, it is about how that helped America. Simply it did not, not enough. American de-industrialization may continue.
Trump's tariffs did not help reach the stated objectives i.e. bringing manufacturing jobs back to the US. Jobs are moving out of China to Vietnam and Mexico because of lower labor costs, but the trend was already there to begin with as cost of labor in China rose. Because of NAFTA it is way more likely the jobs will go to Mexico regardless of which tariffs they put in place.
Not according to this Serpentza like comments on that article. Made the mistake of reading the comments of that article. It made my blood boil. Lol