'China Dream' Fading in Richest Cities

The video explores the economic challenges in China, focusing on wage declines in major cities like Shanghai and Beijing, job cuts in prestigious sectors such as banking and tech, and the financial struggles of civil servants. It highlights the broader societal impacts, including older workers facing longer hours for less pay, and the limitations of available labor market data.

What percentage decline in wages was observed in Shanghai?

• 6%

• 9%

• 12%

• 15%

Which sector experienced a 40% pay cut for some employees?

• Retail

• Banking

• Education

• Manufacturing

What unusual financial demand was made of some civil servants?

• To accept lower job positions

• To take unpaid leave

• To return bonuses from the past five years

• To work extra hours

What is one overlooked issue affecting older workers in China?

• Longer working hours for less pay

• Higher wages

• Better retirement benefits

• Increased job opportunities

What recent change was made to the reporting of unemployment data in China?

• Expanded data to include more sectors

• Stopped reporting youth unemployment data

• Improved accuracy of data

• Increased frequency of reports