A prominent economist’s speech has gone viral in China for his unsparing take on the economy and society. Gao Shanwen, who previously advised government officials and on regulations, said China’s youth are draining energy from consumption due to deep job losses – that’s in contrast with older people’s stable spending habits. He described the country’s post-pandemic society as being “full of vibrant old people, lifeless young people and despairing middle-aged people.”
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