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>China is going to mow us over because we're shooting ourselves in the face. The difference is that I have more faith in China to prevent mass unemployment tha
by jplusequalt 4mo ago
>China is going to mow us over because we're shooting ourselves in the face.
The difference is that I have more faith in China to prevent mass unemployment than I do in the US.
- Jtsummers 4mo ago> The difference is that I have more faith in China to prevent mass unemployment than I do in the US. I wouldn't. They'll just handle it differently than we would in the US. https://tradingeconomics.com/china/unemployment-rate https://tradingeconomics.com/china/unemployment-rate - It's around 5% per this (and some other sources I found, just linking the one). The population being around 1.4 billion people, that means around 70 million unemployed. That is already mass unemployment despite having a low rate of unemployment across their national population. And that's before getting to their youth unemployment rate which is around 15%, which sets them up poorly for the future.
- BigTTYGothGF 4mo ago"Mass unemployment" can't be based on raw numbers instead of rate, as otherwise no small country could have it.
- Jtsummers 4mo agoAlright, what's the threshold? Is the 15% youth unemployment enough to indicate mass unemployment within that demographic at least?