China’s economy loses steam as concerns mount over Covid recovery

[F-22Raptor]

https://www.ft.com/content/e2aaaa56-5dee-41be-9ed4-181496de6bf3

For Anna Li, this year has been the worst she can remember for finding a job in China — harder even than during the pandemic.

“I’ve been applying for jobs for half a year. I’m really exhausted but I’ve not received an offer yet,” the 25-year-old graduate in the country’s wealthy eastern Shandong province said, adding that even if she did land a position, salaries for office jobs were often unlivable.


Five years ago, China’s economy was growing fast enough that many graduates were able to snap up good jobs. Now, their prospects are less certain, as the country’s economic recovery is failing to pick up pace six months after authorities began to roll back President Xi Jinping’s tough zero-Covid regime.

Industrial production and profits, property sales and credit growth have all fallen short of analysts’ projections in April and early May, recent data showed, sapping confidence in the growth prospects for the world’s second-largest economy.

‘Confidence is a big problem’: China’s economic recovery loses steam

Weak property sales, industrial output and consumption sap confidence in rapid bounceback from Covid

www.ft.com

 

[wildlens]

Still at covid? It’s like a show that is being rerun.

 

[beijingwalker]

Comparing to US, Japan and EU economies, China's is enviously better.

 

[epebble]

https://www.ft.com/content/e2aaaa56-5dee-41be-9ed4-181496de6bf3

For Anna Li, this year has been the worst she can remember for finding a job in China — harder even than during the pandemic.

“I’ve been applying for jobs for half a year. I’m really exhausted but I’ve not received an offer yet,” the 25-year-old graduate in the country’s wealthy eastern Shandong province said, adding that even if she did land a position, salaries for office jobs were often unlivable.


Five years ago, China’s economy was growing fast enough that many graduates were able to snap up good jobs. Now, their prospects are less certain, as the country’s economic recovery is failing to pick up pace six months after authorities began to roll back President Xi Jinping’s tough zero-Covid regime.

Industrial production and profits, property sales and credit growth have all fallen short of analysts’ projections in April and early May, recent data showed, sapping confidence in the growth prospects for the world’s second-largest economy.

‘Confidence is a big problem’: China’s economic recovery loses steam

Weak property sales, industrial output and consumption sap confidence in rapid bounceback from Covid

www.ft.com

Is Anna a Chinese person or an expatriate trying to find a job in China? If she got a degree in art history, it may be difficult for her to start off. But if she is a STEM graduate with good grades, anybody in the world can employ her in a minute.