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China’s Youth Are Quitting the Rat Race to ‘Let It Rot’
(www.wsj.com)
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this post was submitted on 09 Jan 2024
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I don't blame them.. The older generations really screwed the pooch for the younger generation. Basically made China inhospitable for foreign investment so all these young people are left high and dry with fancy degrees and no jobs.
It's kinda not really the older generations, though, it's more capitalism. Where does that start and end?
Eh, I think we have to agree to disagree on that point, friend. I've seen a lot of quotes closer to the turn of the last century warning about capitalism, it's been going for quite a while. All through the industrial booms and a few wars were essentially fuelled by capitalist reasons. All that happened in India, British empire stuff, essentially capitalism. I could deep dive and find dates, but if you are interested, there's just so much to read about it, I wouldn't know where to start. You might find some fascinating (and troubling) stuff, once you start scratching the surface. I feel like I am only just scratching the surface. I'm looking for a good book to read on the subject so I have a more indepth understanding.
Wait, the problem in your mind with China is that it's not as safe for multinational companies to exploit their populace?
China’s own megaconglomerates aren’t doing any better. They openly steal from their populace, and exploit their workers in inhumane ways. Just look at the mass embezzlement of peoples life savings in the housing market by ultra mega sized publicly traded corporations. China is basically a hyper capitalist corporatocracy, with extra authoritarianism sprinkled in with no upside.
Agreed that the problem is capitalism, but I don't know about "no upside." The poverty rate in China has continually decreased. While we in the west might argue that living under authoritarian rule might not be worth the tradeoff, that certainly is an upside.