China's 'Lifeless' Youth: Economist's Critical Speech Goes Viral
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- Опубликовано: 5 фев 2025
- A prominent economist's speech has gone viral in China for his unsparing take on the economy and society. Gao Shanwen, who previously advised government officials and on regulations, said China's youth are draining energy from consumption due to deep job losses - that's in contrast with older people's stable spending habits. He described the country’s post-pandemic society as being “full of vibrant old people, lifeless young people and despairing middle-aged people.”
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My job doesn't cover living costs, unlike my parents who worked less and could afford life and could save for the future.
Simply, there is no future.
It’s still baffles me that there was an age in America, where an 18-year-old could have a part-time job afford a place to live and be a full-time student.
Learn history and you won't he so easily baffled next time.
@Lochamp
you right 🤣
@@Donutkushgetting kicked out at 18 is a one way ticket to being homeless now.
Why you people are worried?
Don't depend on money and stay relaxed.use barter system.
Humans life is just 80,90 or 110 years old.
So just relax and Chinese should stop breeding like Indian.
Cause if you breed your children will also struggle.
Hope this economist Gao Shenwen doesnt disappear from public sphere!
I bet he could become liveliness and he already does not care
Yes, because you are an absolute eddiote
高的公众号已经不可关注了，已经出事了😅
You described usa..
@@mateusz3162that's florida
I work 997 at a large Shanghai firm, 6000 of my salary goes towards social security and taxes, I get around 7000 of actual income. No time to eat breakfast, maybe buy bread or snack on the way to work if I'm really hungry. Get to office by 8am, work. Don't eat lunch, work until 9:30pm. Get some beer and food on my way home. Get home 10:30pm, do laundry tidy up bowse online sleep at 1-2 am. Repeat. Fired at 36. Now I have no job, no health insurance (no continued social security insurance stops) and a messed up liver. Good luck taking time off work to go to the hospital, now I live off my aunt's government pension 7000 a month (she worked at ministry of agriculture) my mom works to try support me too. Why blame the youth? I feel like I did my duty to society
That means I'm living a dream life.
Bruh. I hope you're not trolling here. We in India always think China is faring better in present circumstances, but your comment here says otherwise
@@skprobi He is not trolling. Getting fired at the age of 36 is very common in China; not getting employed past the age of 35 is also very common.
@@superbob7239 wow.. this is really unthinkable. If an economical giant can't sustain hard working individuals, I wonder who else can
They try to blame the youth for the same reason they try to blame everyone but themselves...
Because they can.
CCP isn't just brutal, corrupt and homicidal - they're worse than grossly negligent. And people like that will always try to blame anyone and everyone but themselves.
Went back to china recently and I got this feeling that the young adults seemed to be milling around due to the stress of work (or lack of work), while the older generation benefited a lot from the heightened customer service. Competition and anxiety in China gets fierce when the pie is shrinking
Not the pie. It is about freedom first of all
as a middle aged person i endorse this message
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
As a middle aged person I started as an industrial electronics technician...but dod quit at the age of 23 to game (just for myself...no streaming, no reviewing, nothing)...and I continue to game every day now that I am 50. UBS (which I now get for 27 years) is enough for me.
Many Western countries also face youth unemployment and a generational divide. Young people in the US and Europe struggle, while older generations are more secure.
This is a global issue.
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
The result of limitless money-printing/debt by government; the "Chinese growth model" instead of innovation and productivity.
@@vincenthuaweitien In the US it’s bc of the federal reserve continuously bailing out banks since the GFC. We have completely abandoned free market capitalism for nonstop bailouts of speculators so there are increasingly fewer new opportunities for upstart entrants.
No, not really. The employment is ok in those places you've mentioned but the wage is not enough. Plus, things cost a little more than they used to. Combination of those two results in people being able to afford less to the point it's visible for them
That's pretty normal here in the USA over generations. Young workers finding their way before they settle into a career, maybe we'd have to make a few changes as we grew older and the economy & job markets shifted, but there always seemed to be something available.
Yes, Young Americans are full of life.
Many young Chinese have mental health issues that go unrecognized. This latest economic metric is an inconvenient sign.
Long live President Poo
@@deeh1048 Many young American have mental health issues that go unrecognized. This latest economic metric is an inconvenient sign.
Long live President Dump
@@ryanw2945that is exactly why we need the YMCA😂
and we do it with tiktok, just like the Chinese do it
Actually US youth are doing car better than in China. I'm from Shanghai, and economy has been very poor since 2022. There is so much unemployed university graduates that my relatives are telling their children staying in the US to find a way to stay in the US after graduation.
in india its also the same , no pension , no social security for young people , that's why i am saving for myself and not planning to get married or kids and put myself in debt .Enjoy ur life and take an exit in private old age home.
but tomorrow is not always guaranteed....
It' s incredibile that we measure liveliness with consumption wtf
Only american analist. 😂
@@dennisgianassi5233 actually in China, the youth tend to work 9am-9pm 6 days a week. They are lifeless
We don't. He measured the consumption with liveliness. Also, that was an economist talking about economy. What do you expect him to say?
Why not?
I.qas about tonsay the same thing. Yiu can tell this was Western propaganda
Isn't that the story everywhere. When savings get inflated away, income gets taxed, transactions get taxed, rent and homes keep getting expensive; there is no point in playing the same game. Government is the problem. Everywhere.
Same here in India. I love to watch these economic stories from West and China because it resembles situation here in India
The reality is way worse.
I'm chinese. Ignore the 50 cent government agents and little pinks. The economist speaks the truth that everyone already knew but not allowed on state controlled media. Even in Shanghai, the economy has been really bad since 2022. Most university graduates are having very hard time getting a job, getter offered wages lower than before, and now have to pay tens of thousands of dollars to recruiting companies to buy a job. I hope the economist doesn't get into trouble or disappears.
Your English doesn't look like you are Chinese. A fake Chinese maybe.
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
You seem to be in a hurry. You left similar replies in many comments.
I'm American, I can tell you the youth here don't want to work anymore. They're looking for the next score rather than next Gig.
是吗？你真的是中国人吗？但是，带着中国血统生活在美国的人已经不再是中国人了。你误导了纯正的中国人！我们不接受！不用担心。我们知道我们做得如何，我们现在比您更好。
Well this nothing specific to china, go ask young people in usa and you will know the reality.
Youth unemployment in the US is just 7.9%, china? 17% even after window dressing.
@@saltymonke3682 what is the definition of unemployment in US, have u checked it?
@@jjbullyit’s the same definition as it is in China. China’s youth unemployment is far worse than the that of the U.S.
@@jjbully unemployed/no job/no income, far looser definition than in china. In china, students aren't counted as unemployed.
The western media cherry picking every little happening in China and making it into very big, scary narratives is nothing new. They earn their livelihood badmouthing China. lol Pathetic way of making a living but it is what it is.
He is telling the truth of Chinese economy.
Minmin Low's summary is sharp, straightforward and quite excellent.
The prc(ccp) leadership let this stay longer than people expected, a move that backfired for various reasons.
well im Chinese and when i uni-grad'd 20 years ago, i was so poor to live in 10m^2 flat, no bed no chair no desk, i sleep and sit on a towel on the ground, working 16 hrs a day
and the hard work get me now a $20K USD salary per month
@@kenho-wr5ul2rh7m how did you do it
Not only in China
But india also same scenario
Don’t know abt India . Iam living in Europe . Life is hell here.. thinking to go back to India by summer. Wanna retire
India day by day worst... Our judiciary and law till the worst
@@user-sb7ou8yg6f everywhere is the same. Then you should do the best of yourself ,we don depend on government to much.
China's down, France down, Germany down, S Korea ... who's next?
next india s rise
My pen..is
Canada
Usa youth unemployment rate is 16%
China youth unemployment rate is 11%
@@photonics1india 😂😂😂 unemployment rate 25%
who is not lying nowadays? every government is doing the same
美國也有，日本也有，瑞士也有。中國沒問題。
@@jjktng what about South kore they're under martial law
Great, sounds about right. Seniors are living, youth are lying.
Somebody had to say it
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
AS AN AMERICAN BUSINESS MAN I BEG BLOOM BURGER TO JUST LEAVE CHINA ALONE AND LET US AMERICANS FOCUS ON SOLVING OUR DESPERATELY NEED PROBLEMS.? BLOOM BURGER IS OBSESSED WITH CHINA COLLAPSE. THEY HAVE BEEN AROUND FOR 5000 YEARS AND ARE NOT GOING ANYWHERE. THEY ARE NOT COLLAPSING.
Why are you also obsess with their news then? Maybe you and them have the same mentality.
You are as much an American businessman as a chinese government propaganda agent is an American businessman.
You sounded non American to me. Ngl
All caps, projection of personal feelings into the global void
At least 50yrs old woth no concept of their irrelevance
@@SoYappyjust the symptom of the terrible education system not teaching people how to use their native tongue correctly
What speech? What the hell are you even talking about? It's like saying "oh my god this thing is amazing" but for the entire time it didn't say what thing.
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
So, China is the same like America?
😂
Way worse. I'm from Shanghai, the situation has been way worse since 2022.
The Climate Economics squeezes taxpayers to fund Globalists Climates Subsidies and lets the rest including businesses srarved. The new Trump's Treasury pick has said that Climate Economics is literally a fabricated economy and his primary job will be to turn this malaise around.
No, but I'm guessing you're one of the young people from there trying to cope, hence the grammatical error in your sentence.
@@xiphoid2011 上海糟糕吗？我也是上海人，你在哪刷盘子呢。
@@tiaoyi-bx5yi He is bots
Honesty and Transparency from China especially when it comes to Not-So-Positive economic and societal trends?? Color me surprised.
I'm starting to believe that "housing shortage" is a big lie in order to keep prices unreasonably high. I'm starting to see empty houses and apartments.
IT IS THE SAME EVERYWHERE. New Zealand is almost like a dead market. The Aus is drowning in crazy inflation and skyrocketing rent, plus the property pricing is going insane, so far I can’t see there’s any way out of this.
Buying stuff does not mean vibrancy. Younger generation understands that they are inheriting a planet that is being polluted, that warms up, with dwindling resources, so they want to stretch it a little longer.
Having been around 65+ years, I’ve learned those entering middle age become critical of youth and society in general. Most of the time it’s because they’ve ceased being young themselves and feel removed from what tomorrow might bring. Been happening for years now as the evolution of society and technology has increasingly accelerated.
This economist is simply spewing nonsense. The explanation is simple. Most older people in China have lower income, many being dependent on their low pensions and therefore have a higher propensity to spend out of their income. It is NOT because they are more economically vibrant......
yeah the way they twist things data this and that like have you checked on ground zero. if half the population didn't go back and dont have a job then how are there family living???must be dependent on the elderly population no????
lifeless and nothing to live for is basically the same.
I hold a bachelor's and masters in Social Science, majoring in Asian Studies. I have a second MA is Philosophy / Religion. China, like Japan once did, has enjoyed its boom era, so the older are living off the fat of what Mao's successor Deng Xiaping created. The CCP has run the country into the ground. The middle class and young have been wiped out in endless bank and investment property scams and crashes. Xi's vision of the future is a true dystopia. It's the worst of both communism and capitalism. I think the worst is yet to come.
so , like rest of the world?
It sounds identical to what is happening in the US.
Lol so much broken English claiming this is happening everywhere. I think these comments must be coming from the "young people" she's referring to.
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
No, the US growth has been steady because the top and Retirees still.spend like normal but the Chinese billionaires didn't seem to spend much more because China growth has tanked to a meager 4%
The difference between Chinese young and western young is that Yuan worth less than dollar, a lot. With the roughly the same nominal gain. Lives in China are more pathetic.
Chinese can't take criticisms that are based on facts. Long live Winnie the Pooh!
You described usa
Why not??? 60million University leavers cant find a job. This hasnt taken into account those laid off a staggering figure of close to 200mil from Housing, Tech, Car makers, Textile factories.
His assessment is tolerated? My guy, he and the other prominent guy who had a similar negative assessment are just banned online.
How you're gonna spend money if you don't have any? Right borrow them!
Does life= consumption?
Everything is connected to this "consumption". It's the reason why we are paid what we are and affects our ability to buy into the economy. Otherwise, we should all just live on a farm.
@patrickt49 not really, we're paid to barely survive, to pay rent, health insurance, pay house bills and 2 meals a day, if you get paid to "consume" anything after paying your bills you're lucky
China is convenient in all aspects, but the pressure of employment is too great, because the population is too large, the number of jobs can not keep up with the demand of more than 10 million college graduates looking for jobs every year, those who can not find a job are forced to leave the city because they do not have an educational background or are over the age of 35, and are replaced by young college students with an educational background, and on the other hand, many college students who have graduated after receiving sixteen years of education don't want to work as waiters, traditional factories, cashiers, and other more basic jobs.
The chinese population shrinks fast. Mass unemployment only means that the job market collapses even faster than the population collapse. The chinese economy is absolytely collapsing.
I'm not Chinese, far from it. But I am middle-age and have very little to live for.
China is SO advanced they can’t even track unemployment rates outside of cities.
and the U.S is so superior that the homeless are free to travel here and there when the cops are out there kicking them out, what a blessed country it is
What is this Bloomberg program and what are the names of these hosts? Thanks
the kids see nothing more than greed, corruption, pay offs, lying, - a future no one is too excited about trying to deal with
‘My job pretends to pay me and I pretend to work’
-anonymous
mr shenwen has gone silent........................................................
I believe, without being told officially or through the media, most young Chinese know that the economy is not doing well. The fact that many have become disillusioned, but many remain positive and know the opportunity will come by not giving up.
Or maybe young people are just tired of being consumers?
Well, hopefully he doesn't disappear for a while because he needs to be 're-educated'. He's speaking the truth.
Like Edward S has to escape?
What's the interesting part is the government does not want to admit thay
Ouch! This economist will likely be disciplined by the politburo for speaking the truth (remember Jack Ma?). There is a Chinese youth unemployment crisis in China, coupled with those employed still 'lying flat'.
You described usa😂
Usa youth unemployment is higher then china
It’ll be like this here in USA soon. You’ll be considered “brave” to tell the truth to ppl.
Many youths are very hardworking and willing to work including doing delivery jobs thus not lifeless. But it's quite true that seniors are enjoying their lives as their pensions are good as the government takes care of the people well.
'He [Gao Shanwen] described the country’s post-pandemic society as being “full of vibrant old people, lifeless young people and despairing middle-aged people.”' - Bloomberg TV, 4 Dec 2024.
When I entered the workforce, I could only afford a secondhand small car, I could only rent a room, and I had no savings. Was I 'lifeless'?
I had a mid-life 'crisis'. Then my spending was more than a young person's income. And now, am I a vibrant old person?
Is my case merely anecdotal? I look around me there are many like me. My children and their children are going through a similar stage as we had. But I admit my children are moving at a faster pace because they are smarter than me.
For lousy economists to BS is understandable.
But for others to buy their BS is bl**dy stupid.
Population growth is a big issue for east Asia countries, for American it’s another problem: too much people want to get in America
Oh dear
Over estimated by 10 points 😂
Hope this guy doesn’t disappear
You described trump
For various reasons it might be happening faster (and thus more obviously) in China but it is a problem in the Western World as well. I think the bases is a focus and measuring of economic and materialistic success of a society rather than a more holistic humanistic factors/issues.
true story bro.
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
With the proliferation of AI and robotics, it’s expected the beginner’s (youth) job market is going to take a hit, resulting in higher than usual unemployment rate.
Plus, East Asians culture is such that at the building up stage of life, they save money, a hell of a lot of it, and spending only on necessary things.
So I’m not surprised that younger generation doesn’t contribute as much in spending.
4000 years of history in China has trained the people NOT TO WASTE MONEY ON LUXURY IMPULSIVE PURCHASES. Because the youths in China are well versed in the 4000 years of culture of savings and not wasting money , they do not need to be judged by countries with massive personal consumption debts !
Uhm no, it means they have nothing. The elders saved not the young
This speech came from a chinese economist. Not from the outside world.
The rest of worlds youth isnt doing so well either.
China has already established a firm position in the global economy.
Investors will hardly be disappointed if China slows slightly from its previous growth rates.
It would be more detrimental to investors if the Chinese government manually distorts statistical data, arrests economist or shuts down SNS account when he publish even a slightly unfavorable outlook for the government.
Is the economist still alive?
Chinese property sector, which accounts for 30% of GDP, is crashing.
- Exports and imports, accounting for 37% GDP, are down.
- Foreign investment (FDI) is falling over 90%, lowest in 3 decades.
- Foreign visitors are down 96% compared to the 2019 pre-pandemic level.
- Consumer prices are experiencing deflation.
- Youth unemployment hits over 21%, a record.
- Its fast-shrinking workforce is 10 years older than neighboring countries.
*Still, China keeps reporting outrageous GDP numbers.* Lol
Where does the growth come from?
definitely not from the west lol.
China is doin great,if not they'll comeback for sure coz they're not stupid like the western leaders.
China's trade surplus grew to $95.27 billion last month, up from $81.71 billion in September. (Reuters)
Exports are driving the growth, while imports are down.
@@temper44 he's just yapping nonsense.
@@temper44Assuming the China-published numbers are correct like you said. How much China's GDP would have moved? 0.01%?
@@who5301 You should get off the internet and leave discussions to adults and the educated.
his statement hits really deep. it summarizes china's socio-economic slump so well
When the US congress passed a $1.6 billion anti-china campaign bill in August last year, do you know how much Doomber received?
For two years I worked 12hrs+ per day (in beijing) and now I just lay flat. Who cares about the economy? It’s not my obligation. 🤣🤣🤣
I have a relative (40-50yo single mother to 2 adult kids) in China who does nothing but lives off his mother's pension.
I've interacted with her before, she's self entitled to say the least
How's the U.S. different? U.S. college graduates are also having trouble finding jobs and moving back with parents.
@@freespeech8520 the difference is that in the US you don't unexpectedly disappear for criticising president or any party (:
@@kamilksiazek8019 You can criticize all you want in the U.S., but you are still given Biden/Karmala/Trump to choose from. China meanwhile lifted >800 million out of poverty.
@@A-Wesker-5 It holds true when you replace "China's" with "The U.S.'s" in the title. With a report in English, who do you think is the audience for this propaganda? How is it relevant to you what China's youth is doing? There is no homeless, drug or gun violence crises in China. It's just a distraction for domestic issues.
@@kamilksiazek8019 Also, in the U.S., whistle blowers/insiders just die mysteriously. Where is Jeff Epstein now?
but they do a lot of porn to make money.. don't they ?
Not surprising
Robots . Artificial stupidity.. autonomous vehicles.
What are humans to do?
We'll see which society has reason to live in another 5years ,time will tell.
wait, so the journalist's name is Min Min Low?
how humble
Wow this guy has balls
Youth employment is an issue across the developed world - In Canada we've literally replaced our youth workforce with about 5 million TFWs and "foreign students" and now youth unemployment is through the roof. Happening in Japan, the USA, most of western Europe, and now obviously China as it liberalizes their economy. This is the end result of hollowing out your entire culture and catering your entire political system to support the stock prices of mega-corps while building nothing that is worthwhile for a normal human being to pursue now that families and houses are increasingly only for the wealthy. Who wants to be a wage slave if you can also just do nothing?
The developed world have explosive population growth. Outstripping the ability to create jobs. China should be better off. Having a low fertility imploding population. With very few young. Which should be far easier to feed with jobs. But still, China has more youth unemployment than the west.
He speaks for the world over.
This is just antichina senseless and futile propaganda
So China has quality of life?
@jeanlundi2141Usa youth unemployment rate is 16%
China youth unemployment rate is 11%
Sounds like China is being crushed by the trade war. Lesson learned: don’t mess with America 😂
He is going to Vanish , isn't he ?
Young people may be saving up for a rainy day while old have to spend the pension money as there is no sense in saving that money as their next stop is the grave!
It's the world phenomenon now.
Sounds like the US lol. My mom retired with a full pension from the federal government after 34 years and her social security benefits with only a high school diploma. I love her dearly, but she doesn't understand that its not like that anymore.
believe me, the fresh graduate in china is much better than fresh graduate in US. in china, most of them don't have student debt that choke them to death. in US, most student graduate with student debt that suffocate them
😂
At least they're not trans. Right? RIGHT?
Then why are so many chinese people leaving china? and nobody wants to live there. I'm Korean and I haven't seen one single Korean who wants to live in China. but there are so many people here who want to go to US if they can get visa.
@@ussj-mb7dr lol. check your government data. there are almost 2 millions korean living in china 🤣
@@ussj-mb7dr I live in Shenzhen, China, and I met 3 Koreans tonight
As a lying flat 35 yo Chinese, I approve economist Gao's courage and honesty.
And usa and euro have even worst groups of youth as well...and it is the truth apply around the group
America! 🇺🇸
It means greedy corporates are not able to sell garbages to young people.
I think that Chinese authorities have systematically dressed the figures for years. They do this because they have no choice but to uphold the State's plan for the economy.
not just in china, youth unemployment is a big issue in india too and the rest of the world as well. Simply put, there arent enough kobs and/or the salary doesnt meet the rising inflation n living costs. Our parents n grandparents were lucky to live in an age that had less people, competition and development. Quality of life, job satisfaction and everything else has gone downhill sine then. You cannot live in a metro city without being the top 1% of the earners in the country
Young men in China: cast off the plague and evil of communism and embrace your incredibly rich, historically important culture, traditions, ancestry and civilization. There is such an incredible history of deep wisdom before communism destroyed everything.
lol
ok, Falungong
What did Chinese communism destroy? China is the only world competitor to the U.S based on the CCP policies, they will have a base on the moon soon, there is more than one way to govern. Do I want to live there? No. Everything isn't for everybody. Let the Chinese decide for themselves how they want their country to be, the end result will not be America, even if it isn't communism.
You are a crazy little devil 😂! You want to destroy Chinese people and the country inside out like America today. Nope! You won't succeed! Communism is "evil"? Why? A highly intellectual well educated government that runs the country and lifted 800 million abject poverty citizens with world class infrastructure and scientific research pouring billions $$$$ to out pace America is evil???
Hahaha... Hahaha.. Hahaha... Wake up!
US and Chinese governments are cooking the books when it comes to economic data numbers. Both countries need BTC to give people hope.
The only way the modern world can solve its problems would be to make it financially worthwhile for people to SHARE the jobs that we would agree we NEED people to do and work LESS....no more doing absolutely anything we can think up FOR money but all of us sharing in doing something we would almost all agree is doing something we NEED.
Worker productivity has not kept up with wages and working hours. If it had, we would be working LESS, not more.
Bringing about a 4-day workweek is a big first step.
As Bernie Sanders has been saying lately
Crazy they have a segment on "this economist" and don't once mention his name, Gao Shanwen, 高善文.
There was a longer segment on Bloomberg's regular news channel that had an interview with Mr. Gao (?), this YT video just cut it down. Ms. Low's summary of the data on GDP and unemployment is what he mentioned in that longer interview.
"You'll own nothing and we'll be happy"
And at the top end of society, you'll own everything and be miserable.
All the Wealth is getting concentrated into fewer hands at an accelerating rate… the older generations and the 1% own everything and the rest of us struggle to survive 😅
Pinks getting triggered as usual
You described trump
The young have the right to ask thr parents "why give birth to me?" this country cannot make it at all.
They should make healthcare, education and transportation in China as expensive and inefficient as in the US. And they should force people to get indebted heavily to drink more sugar water and buy bigger cars. Then expenditures and “consumption” would grow automatically.
Interesting .. only Mainlanders can speak that way
I love substance rich informative short videos
Great, sounds about right. Seniors are living, youth are lying.
Young people earn less and need to save more.