Chinese Economics Thread

[Biscuits]

I stick with 21.3%. 7% is something that is not widy used by the government. Also, the statistics are counting people who wants to find jobs, even part-time jobs, not people who are just studying or playing with no desire to find jobs, these groups is not included in the statistics. The figure means more and more people are struggling to find jobs, because job market is tight. If you seek job in Alibaba (I am an insider), I can assure you will receive lower wage than previously as a freshman but the number of applicant is still significantly higher. Many senior does not receive salary raise but few wants to leave. A booming job market should be the opposite as that.


It is still problematic if these people cannot find jobs, even odd jobs. Massive source of unstability and a completely waste of resource allocation. If they cannot find job now, can they find job when they are older when they lost their youth and health? Who will provide for them?

7% is according to international standards of counting, and it is what reflects the level of unemployment in reality. Zhang, 22 yrs old with a masters, is not competing for a job with Ming, 15 yrs old middle school student. Ming's "unemployment" does not affect what people commonly consider to be "the job market".

If you wanna run with 21.3%, be my guest, but you'd have to create new statistics counting all the unemployed children in other countries to have a comparable point of measurement.

Probably only America and a handful of third world nations would have an advantage here, because they have laws permitting child labor.

I can see based on your past responses and constant changing of goalposts here that you're not the sharpest tool in the shed, but surely even you can see why "we are employing more children!" isn't a brag for any self respecting economy. There's a reason US isn't their equivalent of the 21.3% measurement for their own unemployment stats, because having "low child unemployment" is really not the own you might think it is.

 

[Quan8410]

Just cause Tphuang agrees doesn't mean you are right, and vice versa. No need to justify yourself based on other people's likes and dislikes, or ask people to check your history to look for all the positive news you posted about China. It's not a proof of loyalty. And who would you prove it to? To people on this forum ? Youth unemployment is a problem. It's ok to talk about it without being labeled a Westerner.

He tried to "attacking" me with name calling despite some people said the same thing. Is it double standard? I also have the right to defend myself. Also people need to stop labelling everyone with different opinion as a US or Indian troll. It is counter productive.

 

[Quan8410]

7% is according to international standards of counting, and it is what reflects the level of unemployment in reality. Zhang, 22 yrs old with a masters, is not competing for a job with Ming, 15 yrs old middle school student. Ming's "unemployment" does not affect what people commonly consider to be "the job market".

If you wanna run with 21.3%, be my guest, but you'd have to create new statistics counting all the unemployed children in other countries to have a comparable point of measurement.

Probably only America and a handful of third world nations would have an advantage here, because they have laws permitting child labor.

I can see based on your past responses and constant changing of goalposts here that you're not the sharpest tool in the shed, but surely even you can see why "we are employing more children!" isn't a brag for any self respecting economy. There's a reason US isn't their equivalent of the 21.3% measurement for their own unemployment stats, because having "low child unemployment" is really not the own you might think it is.

I don't need to create a new statistics. The government did it and they proceed to use it. I followed the Chinese standard, the official one because thit is a Chinese forum. Also who moved the goalpost here? Why are you constantly bring the US here when I just wanna talk about China? And I don't need to assume someone is sharp or not to proceed with a proper conversation. That is ad hominem.

 

[In4ser]

I think it’s a perfect time to utilize the under capacity in the export manufacturing sector and reallocate them into the domestic military sector. This way, employees get training and have work (though they will probably still be mostly idle) and the government has excess capacity and supply chain setup in case war breaks out with the USA.

As for the property developers, let them collapse as the free market dictates and then in bankruptcy, seize the assets and finish them as subsidized housing for the poor and/or government workers to encourage stability for consumption and families.

 

[Michaelsinodef]

I stick with 21.3%. 7% is something that is not widy used by the government. Also, the statistics are counting people who wants to find jobs, even part-time jobs, not people who are just studying or playing with no desire to find jobs, these groups is not included in the statistics. The figure means more and more people are struggling to find jobs, because job market is tight. If you seek job in Alibaba (I am an insider), I can assure you will receive lower wage than previously as a freshman but the number of applicant is still significantly higher. Many senior does not receive salary raise but few wants to leave. A booming job market should be the opposite as that.


It is still problematic if these people cannot find jobs, even odd jobs. Massive source of unstability and a completely waste of resource allocation. If they cannot find job now, can they find job when they are older when they lost their youth and health? Who will provide for them?

I think the unemployment for the bracket just after 16-24 immediately drops to like ~5% lol.

So no, overall unemployment for China isn't anywhere near as bad as western media makes it to be (if it's problematic for China, whether overall or only for young people, then it's like wise as big a problem generally all over the world, including many western countries like US and EU ones).

 

[manqiangrexue]

Don't need to use personal attack.

LOL How sensitive you are. I said you talk like a Westerner. That's an observation, not a personal attack, even if you don't like it.

Who care about the west?

We all do. China competes against the West. The West isn't dead. You make no sense when you try to push them out of the picture when they are the main antagonist.

When a problems arises, we need to talk about them, don't need to compare to the west to make us feel good. This forum is established to do that.

Well, in a competition, you need to make comparisons. The economy is not isolated from the world. You also presented no solution, but basically said that deflation is a death spiral and nothing is effective at stopping it. That's also factually incorrect because every major economy has had deflation and managed to overcome it.

Defining "talking like a Westerner".

Making the West's problems look like nothing even though it's out of control (like inflation, which you pretended was so easy a child could solve it) and pretending that China's problems were basically incurable (no effective controls) and terminal. That's you talking like a Westerner.

Presenting evidence that I am talking about China collapse 24/7?

Post 28440:
"Deflation is also coupled with unemployment because firms will cut people off to cut cost. That's why you see massive young unemployment in China. And with more unemployment, it's even harder to prop up demand, lead to more deflation. And the cycle continue."

That's a death spiral, and also, I didn't say 24/7. Only a child would say or imagine that or try to set a false goalpost there like you just did.

Just look at my post history will prove you wrong. Mostly positive news.

I don't care to look at that. I'm debating your current post.

Btw, tphuang shares some of my opinions, are you accusing him talking like a westerner now?

1. Let's see if he wants to join on your behalf.
2. Why are you hiding behind other people? Grow a spine and argue for yourself.

He tried to "attacking" me with name calling despite some people said the same thing.

What name did I call you? The Talks-like-a-Westerner-Guy? LOLOL

Is it double standard?

No, that's your oversensitivity.

I also have the right to defend myself.

But you don't have the ability.

I don't need to create a new statistics. The government did it and they proceed to use it. I followed the Chinese standard, the official one because thit is a Chinese forum. Also who moved the goalpost here? Why are you constantly bring the US here when I just wanna talk about China?

Because economics doesn't happen in a vacuum. To understand the current economic situation, you need to know the world situation and the situation of your enemies in an economic war. Economics is a race and China is a top elite runner; we compete with other runners. Running against yourself is for small potatoes that aren't competitive.

And I don't need to assume someone is sharp or not to proceed with a proper conversation. That is ad hominem.

That is not an ad hominem at all. Do you even know what that means?

 

[KYli]

Good, these speculators finally got burned and stopped bidding up the housing prices. Now, Chinese government needs to keep the housing price stabilized as a sharp drop could cause economy downturn.

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[Minm]

I stick with 21.3%. 7% is something that is not widy used by the government. Also, the statistics are counting people who wants to find jobs, even part-time jobs, not people who are just studying or playing with no desire to find jobs, these groups is not included in the statistics. The figure means more and more people are struggling to find jobs, because job market is tight. If you seek job in Alibaba (I am an insider), I can assure you will receive lower wage than previously as a freshman but the number of applicant is still significantly higher. Many senior does not receive salary raise but few wants to leave. A booming job market should be the opposite as that.


It is still problematic if these people cannot find jobs, even odd jobs. Massive source of unstability and a completely waste of resource allocation. If they cannot find job now, can they find job when they are older when they lost their youth and health? Who will provide for them?

21% sounds scary, because we are accustomed to youth unemployment statistics from western countries where such a high number would be cause for concern. However, using China's much more expansive definition of youth unemployment, a value of 21% is not great but also not the disaster that western media claim. Rest assured that the government is working on improving the job market. Most people are expecting a stimulus programme in the second half of the year which should hopefully provide some jobs for many youths.

It's also a mistake to consider an unemployed young person as permanently unemployable. They are just applying for their dream jobs, for which they just don't meet the requirements, until their savings run out. Then they'll be forced to take a less prestigious job in a smaller city. 20% unemployment between 18 and 24 just means it takes on average roughly one and a half years between graduating high school and finding a job. It's not the same as long term unemployment. Some people just need time to accept that they will only get a factory job

 

[KYli]

Not sure I support lifting group tours to certain countries. However, group tours should help the travel industry.

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[resistance]

I think china should reduce class size in school curriculum. This will hugely absorb the unemployment from tutoring crackdown.
Chinese class size is about 40-60. In Europe is about 24.