china job woes, white collar edition
My roommate at HIT spent the better part of the last two months glued to a computer screen, filling out forms for employment. He did this while listening to a three-song loop, the lyrics of which are now burned into my cerebrum deeper than the terror-ilk of Rihanna. Roommate, like many people here, initially opined (extensively – I think he needed more convincing than I did) that “China won’t be affected by the global crisis” – after several weeks, the tune quickly changed to “it’s very hard to find a job now. Damn Americans.” I am pleased to report, however, that he was successful, and will soon join one of China’s state-owned enterprises as an entry level manager.
Chinasmack details a Shenzhen job fair, with over 150,000 people in attendance. Roommate also described these sorts of events, displaying an ever increasing amount of anxiety with each recollection. I had previously been rather pessimistic about China’s prospects amidst a global slowdown – they certainly won’t be able to replace foreign consumption with domestic demand in any sort of timely fashion. If only there were a way to eat job seekers…
[...] wrongheaded, leading only to further over-investment in useless infrastructure, like rails and education. An FT article on the topic opines: … the planned stimulus does not attempt to boost public [...]