CNBC Marathon examines China’s crises, encompassing real estate collapse, population decline, and soaring urban youth unemployment.
China is facing a growing list of problems — real estate, semiconductor bans and labor market gyrations. The world’s second-most populous country also has a major youth unemployment problem. China’s urban youth unemployment rate has risen to 21% as of May 2023, up from 15.4% two years earlier.
China remains home to 1.4 billion people. But that number is getting smaller. The country’s National Bureau of Statistics reported China’s population slipped to 1.412 billion last year from 1.413 billion in 2021. The last time China saw negative population growth was in the 1960s. Many experts believe that China’s one-child policy, introduced in the 1980s, is one of the main reasons for the population decline.
China’s real estate industry is collapsing in slow motion. Major developers like Evergrande and Country Garden remain stuck in spiraling debt problems. So-called ‘ghost cities’ dot the Chinese countryside. And now the International Monetary Fund just cut its global growth forecasts for 2024 and called out China’s real estate crisis as a big reason why.
Chapters:
00:00 Introduction
00:48 Why Youth Unemployment Is Surging In China (Published September 2023)
12:32 What China’s Shrinking Population Means For The Global Economy (Published March 2023)
21:21 Will China’s Real Estate Crisis Hit The Global Economy? (Published October 2023)
Produced by: Christian Nunley, Anuz Thapa
Narration by: Jordan Smith
Additional Editing by: Kevin Heinz, Brad Howard, Jack Hillyer
Graphics by: Christina Locopo, Jason Reginato
Production Support: Kate Sammer
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images
Additional Sources: Getty Images, Reuters
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.
Want to make extra money outside of your day job? Take CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams. Register today: https://cnb.cx/3Iwblnk
Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on X: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
China’s Looming Crises | CNBC Marathon
