'Mad Money' host Jim Cramer talks recent turbulence with mega cap stocks.
China is facing a growing list of problems — real estate, semiconductor bans, and labor market gyrations.Since the end of 2022, China's urban youth unemployment rate has risen to 21%, as of June 2023. This is up from 15.4% just two years prior.'For the Chinese government, the most urgent issue is certainly not to resolve the labor market situation, because the housing problem is a much bigger concern at this point,' said Dan Wang, chief economist at the Hang Seng Bank.
'That labor market transformation could have impacted the recent youth unemployment rates in China, and also the way the Chinese government has been regulating some of the sectors that I studied, including the high tech sector, could have really serious impacts on the employment situation today,' said Ya-Wen Lei, professor of sociology at Harvard.
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