China’s Economic Stagnation: Young People Choosing to Join the Nesoberi Tribe

In China, as the economy stagnates, young people are finding it difficult to see future prospects through employment or work. Under these circumstances, Chu Yi (23, pictured) chose the path of becoming a “nesoberi tribe.” Photographed at Chu’s home in Shanghai on February 5, 2024 (Reuters/Nicoco Chan)

SHANGHAI (Reuters) – China’s economic stagnation has made it difficult for young people to see future prospects through employment or work. Under these circumstances, Chu Yi (23) chose the path of becoming a “nesoberi tribe.” People who work the bare minimum to earn enough to spend their time enjoying themselves.

Chu used to work at an apparel-related company, but retired two years ago. He said he had to work overtime frequently and didn’t like his boss.

Currently, I only work from home one day a week for a travel agency. Thanks to this, he has plenty of time to practice as he takes a six-month apprenticeship to become a full-time tattoo artist.

Chu is not the only one who lies down. Although there are no statistics on how many young people have given up traditional corporate jobs, the macro economy has still not returned to its pre-pandemic growth trajectory, and new university graduates are starting to look for ways to earn an income. As of June last year, the youth unemployment rate was at 21.3%, the lowest ever, amid complaints that they were forced to compromise on job openings.

“For me, working doesn’t have much meaning,” Chu says. “For the most part, it seems like I just want to get the job done for my boss and make him happy. So I decided not to work[desperately].”

Generation Z, the roughly 280 million people in China born between 1995 and 2010, like Chu, are the most pessimistic of any age group.

Now that the growth rate has fallen to the lowest level in nearly half a century, a key policy issue for the Xi Jinping regime is how to allay the concerns of Generation Z. In January, the Ministry of Human Resources and Social Security called for stepped-up efforts to increase employment, especially among young people, this year.

Chow Yun, an assistant professor of sociology at the University of Michigan, said that while some young people seem willing to step back from the intense competition to climb the corporate ladder, their pessimism about the future should not be overlooked. Emphasize that you can’t.

Chou said China’s economy is slowing and the labor market remains tight. He expressed his view that “Today’s China, where social disparities are entrenched, political control is becoming increasingly strict, and there is no hope for the economic future, is making life extremely difficult for young people.”

The combination of all these factors has led young people like Chu to value their own happiness and fulfilling interests over the “endless pressure” of working at a company.

In fact, Chu feels much happier and believes her choices are “worth it.”

“My current salary is not much, but it can cover my daily living expenses. Free time is much more precious than a few thousand yuan.” Chu said so.

Our code of conduct:Thomson Reuters “Principles of Trust”, opens new tab

#Angle #Chinas #Lazy #People #prioritize #time #earning #money #pessimistic #future
2024-02-17 22:52:00