**Title: China’s Economic Downturn and Rising Unemployment: Strategies for Young People**
In this video, we discuss the growing economic downturn and geopolitical crisis in China, which has led to a significant increase in unemployment rates among young people. According to recent statistics, the urban youth unemployment rate in China exceeded 20% for the first time in April 2023. This alarming trend has left many college graduates struggling to find employment opportunities.
As a result, young Chinese people have devised innovative methods to make a living in this challenging situation. One popular strategy is for them to return home and become “full-time children or nannies” to their parents. By living with their parents and contributing their labor in exchange for financial support, these young individuals hope to continue their studies and ultimately achieve their career goals.
With an estimated 40 million college graduates from 2020 to 2023, many of whom have experienced the pressures of both the pandemic and a decline in the job market, this video explores the reasons why the role reversal of children taking care of their families has become their last resort. It also sheds light on the impact of China’s competitive education system and the diminishing value of a college degree in the current job market.
Through interviews, real-life examples, and discussions on social media platforms, we delve into the challenges faced by young Chinese people and the choices they are making to navigate this difficult economic landscape. Join us as we explore the impacts of China’s economic downturn on its youth and discuss potential strategies for future success.
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(Source: [China Insights](https://www.youtube.com/channel/UCC8M-hkKbVmeq_-j8rqE8Sg/videos))
With the economic downturn and geopolitical crisis intensifying, 17% of Chinese companies have started laying off employees, and 43% of the companies surveyed plan to lay off employees or stop hiring in the coming year, leaving fewer jobs for young people. What should they do in such a situation? Young Chinese people have come up with various new tricks to make a living.
Move No. 1 is to return home and become a “full-time child or nanny to one’s parents”
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