{"id":58463,"date":"2023-09-18T08:01:12","date_gmt":"2023-09-17T23:01:12","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2023\/sep\/18\/peak-china-jobs-local-services-and-welfare-strain-under-economys-structural-faults"},"modified":"2023-09-18T08:01:12","modified_gmt":"2023-09-17T23:01:12","slug":"peak-china-jobs-local-services-and-welfare-strain-under-economys-structural-faults","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=58463","title":{"rendered":"Peak China? Jobs, local services and welfare strain under economy\u2019s structural faults"},"content":{"rendered":"<p>Faced with record high youth unemployment and bankrupt local councils, the country\u2019s population is beginning to feel the weight of the economy\u2019s flaws<\/p>\n<ul>\n<li><a href=\"https:\/\/www.theguardian.com\/world\/2023\/sep\/11\/have-we-reached-peak-china-how-the-booming-middle-class-hit-a-brick-wall\">Peak China? How the booming middle class hit a brick wall<\/a><\/li>\n<\/ul>\n<p>When finding a job feels as unlikely as winning the lottery, playing the actual lottery may seem like a more productive use of time. In the first half of 2023, faced with a struggling economy, Chinese consumers spent 273.9bn yuan ($37bn\/\u00a330bn) on lottery tickets, an increase of more than 50% on the same period in 2022.<\/p>\n<p>It\u2019s just the latest symptom of an <a href=\"https:\/\/www.theguardian.com\/world\/2023\/aug\/12\/china-deflation-ticking-time-bomb\">economy in distress<\/a>. A record high youth unemployment rate of 21.3% in June prompted the government to <a href=\"https:\/\/www.theguardian.com\/commentisfree\/2023\/aug\/21\/the-guardian-view-on-the-chinese-economy-it-looks-bad-what-we-cant-see-may-be-worse\">stop publishing<\/a> data on the issue \u2013 along with other areas such as the consumer confidence index \u2013 all which showed China\u2019s economy was struggling.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2023\/sep\/18\/peak-china-jobs-local-services-and-welfare-strain-under-economys-structural-faults\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Faced with record high youth unemployment and bankrupt local councils, the country\u2019s population is beginning to feel the weight of the economy\u2019s flawsPeak China? How the booming middle class hit a brick wallWhen finding a job feels as unlikely as winni&#8230;<\/p>\n","protected":false},"author":3580,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[41,6,50,556],"tags":[],"class_list":["post-58463","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-business","category-china","category-chinese-economy"],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/58463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/3580"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58463"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/58463\/revisions"}],"predecessor-version":[{"id":58464,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/58463\/revisions\/58464"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}