China’s economic rocket ride appears to be ending – or slowing, at least. Growth has declined from 8.4% in 2021 to 4.5% today, youth unemployment has climbed to 16.9%, and cities are filled with unfinished buildings after the collapse of property developer Evergrande in 2024.
For a while now, a phrase has been buzzing on Chinese social media sites Weibo and RedNote to describe what’s happening: “garbage time”.
