Comments by "HKim0072" (@HKim0072) on "Unemployment Surge Strikes:Youth Unemployment Rate Hits Record High at 20.4%;Spark Massive Protests?" video.

  1. lol, are there invisible jobs just sitting in rural areas that aren’t being filled? Edit: grammar
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  2. Dude - you realize how much money the current farmers / food producers make? The whole point of migrant workers is that...they were making multiples higher income in the cities than in rural areas.
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  3. I’d say the number is 2-3x the official number. Total mismatch of labor pool now. Go back to 2000 and look at the births. Was around 18M. 2/3 of kids are getting degrees. Zero chance China is creating 12M white collar jobs per year.
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  4. BABA latest earnings: Revenue was RMB208,200 million (US$30,316 million), an increase of 2% year-over-year. BABA and other big tech companies are squeezing a few more dollars vs last year and are still cutting jobs. Has to be way worse for smaller local companies. Alibaba Cloud, the cloud computing division of e-commerce giant Alibaba Group Holding that is seeking an initial public offering in the next 12 months, is laying off about 1,000 workers amounting to 7 per cent of its staff, according to people briefed on the matter. Alibaba has been downsizing its payroll for months. Its headcount at the end of March was down by 4,524 people from December to 235,216, according to its first-quarter report. In the past 12 months, Alibaba has cut full-time employees by 19,725, 7.7 per cent of the company.
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  5. Congrats! You literally figured out the problem with China (by accident and not with your brain). - Birth issue The birth rate is an issue because its basically a nearly irreversible trend. Less babies produce even fewer babies in the future. 2012-2019, China births were around 16 to 17M per year. It's dropped to 10M now. Why is this important? Because babies (future adults) are GDP drivers. They have to buy housing, cars, food, pay taxes (think the Matrix ie and substitute energy with economy). You know, stuff that grows the economy and allows the CCP to spend more on the military and BRI ambitions The average citizen has little or no concern about this. They are worried about their own individual lives. The CCP worries about this because its how they stay in power. - Current situation Xi has proceeded to kneecap local tech industries, foreign business, popping the real estate bubble (3 red lines), alienating their best customers for their exports and massive lockdowns which have plummeted the economy. Somehow he managed to lower domestic spending, real estate and exports all at the same time. The CCP corruptly pushed kids to get better educations and forgot that better educated people need...white collar jobs. There just ain't enough of them. Total mismatch of labor needs. At this point, doesn't matter: blue collar or white collar. People are screwed.
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