OrangeSlice@lemmy.mltoWorld News@lemmy.ml•China's real youth unemployment rate could actually be close to 50% - more than double the official rateEnglish
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1 year agoThey should clarify for themselves I guess, but by my reading they were commenting on the general topic of “unemployment metrics” rather than the specific situation in the article. If that’s the case it’d be a different discussion entirely.
I’d hope that people understand that the PRC doesn’t have a robust social safety net as it stands currently.
Before that can happen, we (as the non-ownership class) need to shift away from the capitalist mode of production, into a more advanced economy. On a global scale this is incredibly difficult, since the United States has a hegemonic influence over global economic affairs, and has been hostile to any states that attempt to subvert the capitalist mode. This is kinda sorta beginning to wane, but it’ll be a couple decades still until we see some real progress IMO.