Dejected Social Media Users Call ‘Garbage Time’ Over China’s Ailing Economy
Published On Sep 13, 2024, 5:40 AM
The term "garbage time," which is used in sports to describe an inevitable loss, has recently been adopted by some Chinese commentators to critique the country's struggling economy. This summer, China’s youth unemployment rose above 17%, fueling feelings of hopelessness. Commentaries using this term have emerged, analyzing historical declines in power and suggesting that centralization and lack of trust could lead to societal failure. The Chinese government has responded by censoring these discussions and warning against such critiques, fostering a climate of sensitivity around economic criticisms.
Stock Forecasts
FXI
Negative
China's economic challenges are highlighted by high youth unemployment and rising dissatisfaction, potentially impacting investor confidence and economic growth. Sectors dependent on youth employment, such as technology and consumer goods, may face headwinds due to decreased spending power and careful job hiring practices.
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