Desperate Tears of Youth Amid a Quadruple Wave: Shutdowns, Job Cuts, Unemployment and Homecoming
Desperate Tears of Youth Amid a Quadruple Wave: Shutdowns, Job Cuts, Unemployment and Homecoming
Udumbara
0
.
Under the continuing economic downturn in China, a new wave of private enterprise closures has led to a fresh round of layoffs. Closures lead to unemployment, which then causes a decrease in spending, resulting in even more business closures, and creating a vicious cycle of unemployment. Once this cycle starts, it's hard to stop, triggering a "chain reaction" that leads to the closure of the majority of private enterprises. On Chinese social media, many young people are sharing videos about their experiences of being laid off and discussing how hard it is to find work.
