China's Youth Unemployment Soars to Record 18.8% as Graduates Flood Job Market

[DDG-80]

It looks like a new city which is very impressive. It is not easy to rebuild old city.

Culture of cleanliness in Hyderabad should be upheld and expanded.

Totally agree, it’s exciting to see Hyderabad evolving with all this impressive new development. Balancing modernization with the preservation of old city charm isn’t easy, but it seems they’re pulling it off. And yeah, a focus on cleanliness is key—it really adds to the quality of life. Hopefully, these new projects push for cleaner, more sustainable urban spaces while keeping the culture alive.

 

[FHN]

Problem is their weak consumer sentiment.

No matter how strong China's exports are, its net exports only contribute to ~2% of GDP, compared to ~40% from household consumption.


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National Data

data.stats.gov.cn

Household consumption makes up a far larger component of GDP than net exports. It's not possible for a large economy like China to just export its way to prosperity. Building more every year (investment in fixed assets) is also not sustainable, because they are cumulative. You can't build a growing number of bridges every year (+1, +2, +3..) when the bridges that are built are still there.

Ultimately, they have to consume more to push the economy, and consumer sentiment is currently weak due to the property market/job insecurities.

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Globaltimes:
https://www.globaltimes.cn/page/202311/1302541.shtmlView attachment 66177

https://twitter.com/x/status/1674084721817444353

this guy gives a very good summary of china consumption

In China, tax reform is on the horizon - Marketplace

Senior officials in Beijing say they plan to share more tax revenue with local governments and expand tax revenue sources.

www.marketplace.org

China tax reform is coming.healthcare and rents are much higher in the United states than that of china its not something to be celebrating about lol. It just means more people are going into debts while china has a very high proportion of savings.After taxes, wages actually account for an unusually high share of GDP in China

Look at china saving rates and compare that to the rest lol not even close

 

[Guynextdoor]

This explains why @Beijingwalker is always on PDF...he's unemployed I guess. Commiserations buddy.

 

[Beijingwalker]

This explains why @Beijingwalker is always on PDF...he's unemployed I guess. Commiserations buddy.

Lol, of course. I hire others to do the job.

 

[FHN]

the biggest factor behind China’s low consumption rate is its tax policy and its under-developed safety net. It should tax more income and redistribute it more, and scale back mandatory savings schemes that tend to push people into informal work.thats something china can work on and the government is well aware about tax imbalances

https://www.reuters.com/world/china/chinas-key-plenum-aims-fix-decades-old-tax-revenue-imbalance-2024-06-20/

 

[FHN]

It's not because Chinese people don't have money.they just have too much savings and the governmemt tax is low which is one the primary reasons. Also china is already the largest market for automobiles,phones and many others. And china electricity consumption is twice that of the United states. Healthcare rent and other expenses account for most the US consumption. It's basically a country consumed with debts on steroid with less productivity. There's a reason why Chinese banks are so rich. Government needs to create incentives for people to spend more. What china can do is raising wages higher. China is gobbling up all the minerals and commodities from the world and create supply chain in china which the West depends on. The goal for china right now is to move to high tech industries and drive out western competition there's just so much potential in the global South and china is not gonna give it up lol that's why the yuan is kept artificially low.get them hooked on Chinese products. They will never go back to the West. The bagers incident will only help Chinese popularity even more.sometimes people need to look in the future instead of looking at short term chart. Chinese ship building is one example once u make South Korean and Japanese companies go bankrupt then u can rise wages higher because u already have a monopoly. Kill the competition then once that happens rise minimum wages higher and higher cause there will be no one else to compete with you lol the advantage china has is mass scaling and efficiency no one else can compete. China steamrolls every industry it sets its sight on. Forget about India once ai comes into play everything will change robots can already do the job of two just look at Chinese car plants.sheesh good luck India.

 

[bengalcdn]

Before worrying about immigration or throwing around stereotypes, perhaps you should focus on the fact that over 5 crore illegal Bangladeshis are living in India. If you're so concerned about illegal immigration, maybe start by taking back those millions who crossed the border. When the NRC is fully enforced, every single illegal Bangladeshi and Rohingya will be shown the way out—likely to be thrown into the Bay of Bengal if there's no room elsewhere.

Just ask the folks who got caught by the BSF – they’re treated no better than mosquitoes getting slapped down. And let's not forget how many Bangladeshis in foreign countries use Indian identities just to blend in, including opening restaurants under Indian names to mask their inferiority complex. Instead of taking potshots, maybe work on your own country's issues before pointing fingers at others.

lol stop bs ing. There are no 5 corrore illegal Bangladeshis living in India. That is rss bjp Bs. There are some Bangladeshi who went illegally in the past who are mainly Hindus who left in yester years for economic reasons. Recently that trend has stopped.

 

[Guynextdoor]

Lol, of course. I hire others to do the job.

Why are you being mean to me when I clearly called you a 'youth'?