The Youth Are ‘Lifeless’: Economist’s Speech Goes Viral in China
- Gao Shanwen suggests labor market woes hurt young people more
- Speech trended on China’s social media for its unusual candor
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China’s youth are draining vigor from consumption as a result of deep job losses, a marked contrast with older people’s spending habits that have remained stable since the pandemic, according to a prominent Chinese economist.
While China’s aging demographics could hold back the economy over the long haul, the elderly increasingly stand out for their healthier finances and resilience, according to Gao Shanwen, chief economist at SDIC Securities, who’s previously advised the country’s regulators and top officials.