The problem of the Chinese economy is the lack of domestic demand. The state is trying in vain to persuade the people to consume more.
While China's economy is not emerging from the crisis, the regime is reaching its limits. Half a year after the end of the disastrous zero-covid policy, unemployment is rising. University graduates, whose number of births exceeds that for the first time, should bury their dreams of social advancement and instead "roll up their sleeves" and "plow the fields," the state issues as a slogan. More than one in five people between the ages of 16 and 24 is unemployed. The government calls on academics not to be too shy to work as garbage collectors for the good of the nation.
What it looks like when a dictatorship runs out of ideas is shown more clearly by no one than the state leader himself. Ten years ago, Xi Jinping demanded that young people should advance their careers with "great ambitions" and help the nation achieve prosperity through innovation. Now he is demanding that the younger generation learn to "eat bitterness." Like himself, who as a fifteen-year-old in clan detention spent seven years hauling stones and sleeping in a cave. read more