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Don’t Count on Economic Woes to Deter China

28Nov

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Don’t Count on Economic Woes to Deter China

Nov. 28, 2023 12:54 pm ETDuring his September trip to Vietnam, President Biden dismissed a reporter who asked for his thoughts on the threat the Chinese Communist Party poses to Taiwan. “I think China has a difficult economic problem right now,” Mr. Biden said. “I don’t think it’s going to cause China to invade Taiwan. And matter of fact, the opposite—it probably doesn’t have the same capacity that it had before.”Mr. Biden’s response perhaps explains why his administration’s China policy has veered away from competition and toward accommodation. The hope is that Beijing’s economic woes will make it more conciliatory. But that assumption badly misunderstands the power-hungry nature of the Chinese Communist Party and the lessons of history.Copyright ©2023 Dow Jones & Company, Inc. All R...

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Youth Unemployment: China suspends release of youth unemployment rates as economic data disappoints

BEIJING: China on Tuesday said it would suspend the release of youth unemployment rates, as its central bank cut a key interest rate to boost flagging growth.A slew of disappointing figures in recent months has reflected a slump as China's post-Covid rebound fades, with youth unemployment hitting a record 21.3 percent in June.The National Bureau of Statistics on Tuesday said it would no longer release age group-specific unemployment data starting this month, citing the need to "further improve and optimize labour force survey statistics"."Starting from this August, the release of urban unemployment rates for youth and other age groups across the country will be suspended," National Bureau of Statistics spokesman Fu Linghui said at a press conference.As indicators of an economic slowdown h...