China’s post-COVID recovery has been labored compared with what most Wall Street analysts anticipated. The country’s ailing property market, surging local government debt, and weak consumer spending have even forced Beijing to lower interest rates and offer targeted stimulus in hopes of boosting the economy.
Then there’s the country’s sky-high youth unemployment rate. China’s newest entrants to the workforce have been struggling with a difficult job market for years, but since COVID, the situation has deteriorated dramatically.
