China workplace

The latest announcement of China’s first population drop in six decades has gained much attention, with concerns over the long-term implications for the economy and the community. How will this affect China’s GDP and its aim to overtake the US as the world’s biggest economy? Can China reverse the population trend?

The ill-prepared nature of China’s opening up has led to a sudden rise in infections. While major cities such as Beijing and Shanghai have seemingly traversed this peak and are showing signs of economic recovery, China as a whole still has some ways to go, especially in addressing the people’s needs. Zaobao associate editor Han Yong Hong tells us more.

The prolonged implementation of Covid-19 control measures has caused a significant socioeconomic impact in China, notably leading to the decline in marriage, divorce and birth rates, as well as the increase in youth unemployment. While the situation is more complex than what the data show, Chinese observers believe that both external and internal factors are at play.

JD.com founder Richard Liu has been in the news lately following an announcement that the company is set to improve social benefits for rank-and-file employees, while cutting salaries for senior management. While it seems to kill many birds with one stone, is this a long term solution for private firms?

China’s resurgence of Covid-19 infections has widened the gap between the young workers opposed to the tightening of controls, and the older generation that feel safer with strict measures in place. Given that the elderly make up a high proportion of the Chinese population, Chinese authorities seem to be holding fast to the dynamic-zero policy. Zaobao correspondent Wong Siew Fong tells us more.

Amid the difficult environment of unceasing Covid-19 restrictions, geopolitical tensions and grim economic and employment outlook, Chinese students are caught between a rock and a hard place when it comes to their higher education. College and visa applications, taking online classes and returning to China to seek employment are proving to be one hurdle after another for the new generation. How will they cope?

Zaobao correspondent Wong Siew Fong notes that consumer spending attitudes have changed since the pandemic, especially among Chinese youths — the biggest spending market. This spells a more difficult road to recovery for China’s ailing economy.

Amid the difficulties in analysing and forecasting macroeconomic conditions, economist Chen Kang likens their changes to a unique game of tug of war between the bulls and the bears — in which economic reforms, policies and outcomes are interpreted differently among the players, and the current outcome encapsulates the people’s aggregate response. However, the big question is whether China will press on with economic reforms despite all the challenges. This is the third in a five-part series of articles on the future of China.

Zaobao correspondent Yang Danxu notes that China is facing multiple headwinds that are making its economic recovery all the more elusive. From dealing with incessant Covid-19 outbreaks to the real estate crisis, economic recovery has become a dire political issue, especially with the impending 20th Party Congress to be held later this year.