| ▲ | jplusequalt 6 hours ago | ||||||||||||||||
>China is going to mow us over because we're shooting ourselves in the face. The difference is that I have more faith in China to prevent mass unemployment than I do in the US. | |||||||||||||||||
| ▲ | Jtsummers 6 hours ago | parent [-] | ||||||||||||||||
> The difference is that I have more faith in China to prevent mass unemployment than I do in the US. I wouldn't. They'll just handle it differently than we would in the US. https://tradingeconomics.com/china/unemployment-rate - It's around 5% per this (and some other sources I found, just linking the one). The population being around 1.4 billion people, that means around 70 million unemployed. That is already mass unemployment despite having a low rate of unemployment across their national population. And that's before getting to their youth unemployment rate which is around 15%, which sets them up poorly for the future. | |||||||||||||||||
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