Reuters Econ World China’s ‘Rotten-tail kids’
Aug 28, 2024
A generation of college graduates in China is grappling with a bleak job market, sparking the term 'Rotten-tail kids.' Rising youth unemployment has led to a wave of memes expressing despair. Strikingly, humanoid robots are predicted to become cheaper hires than fresh graduates. The discussion touches on the emotional impact of economic challenges and societal shifts, while job seekers navigate scams and the trend of returning to rural roots amidst this chaotic landscape.
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China's Slowing Growth
- China's targeted 5% growth for 2024 seems decent compared to other global economies.
- However, this represents a significant slowdown for China, impacting new graduates entering the job market.
Rotten-Tailed Kids
- The term "Rotten-Tailed Kids" reflects the frustration of Chinese graduates struggling in a weak economy.
- It draws a parallel to the unfinished housing crisis, highlighting the pervasiveness of economic hardship.
Garbage Time of History
- Another popular online term, "garbage time of history," reflects the feeling of futility among some Chinese youth.
- This term, borrowed from basketball, suggests that individual efforts are meaningless in a losing situation.