@cvkrishnan
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"For decades, young Chinese were promised a simple deal: Study hard. Get a good job. Become richer than your parents. That deal is breaking"View quoted post on X
China is the factory of the world, has impressive technology capabilities across a vast array of sectors and runs a $1.2 trillion merchandise trade surplus and yet is not able to create jobs for a big cohort of her college-educated youth.
Approximately 70% of all unemployed individuals in the 20-to-24 age group hold university degrees in China.
Our modern educational and economic system around the world trains young people for "steady paycheck" jobs and those jobs are not just not growing, they are under serious challenge due to automation and AI.
This problem is about to get worse, not better.
What is the solution? Dramatic gains in entrepreneurship and self-employment. That has been the foundation of prosperity even in America all the way until the mid 20th century. The rise of the big industrial and corporate "steady paycheck" job is a relatively recent phenomenon. We have to move away from that model.
Policymakers in India must pay heed.
@amuldotexe US has been obesity capital of the world for decades. And life in a US suburb is mostly using the car for every small thing even groceries as they are sprawled and 15 mins away.View quoted post on X
Trump says he may work on an amnesty deal with Democrats: "We took people that had good jobs that created one violation and that was that they came into the country illegally. There is a large group of people that think they should be allowed to stay."View quoted post on X
