(WSJ) China’s Weakening Economy Is Creating a Lost Generation

For months, Ma Yongjian didn’t tell his parents where he was.

Halfway through a master’s degree in computer science, the 27-year-old stopped going to class last year. Software engineering used to be a safe career choice, but the rise of artificial intelligence and a wave of layoffs at Chinese tech companies left Ma convinced he wouldn’t be able to land a good job. He no longer saw the point of studying. 

When his roommates left their dorm each morning, Ma would wander Beijing, sitting in parks and looking at stray cats. Earlier this year, he escaped to Dali, a magnet for drifters in China’s Yunnan province known for its scenic mountains and slow pace of life.

His parents thought he was still in grad school. He didn’t want to worry them.

“Before, everyone expected life would keep getting better, your income would keep growing. Now, it’s different,” said Ma. “When you look at the future, there isn’t much hope.”

A generation born during China’s boom years is now entering adulthood with dwindling opportunities, fiercer competition and a growing sense of despondency that years of hard work have left them no better off than their parents—and, for some, back living with them. Steady jobs are hard to get, pushing millions into the precarious gig economy, while others buckle under a cutthroat work culture.

A weakened economy has shrunk the job market, just as record numbers of college graduates are looking to start their careers. 

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Posted in * Economics, Politics, China, Economy

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