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The Ant Tribes: China’s College-Educated & Unemployed

June 18, 2011

The Chinese Economic Miracle is built on lies. As an extension of the American neo-classical dream, it is no surprise that it is failing to provide jobs and a vision of a sustainable future to its young people.

But in true Chinese character, we are provided a picture perfect Orwellian response to this jobs crisis:

With reports of rioting taking place in some ant tribe areas, the government is now looking to take action. Measures being discussed include limiting residents’ permits to skilled professionals and introducing electronic id cards for outsiders without a stable job.


4 Comments leave one →
  1. Vinay Bannai permalink
    June 18, 2011 10:20 pm

    More skilled labor entering the workplace seems to be good thing in the longer term. Doesn’t it?
    This will sustain the growth rate of China without causing any inflationary effects due to wage pressure.
    We keep hearing about the sustained efforts of the major contract manufacturers (like FoxConn) to move facilities and jobs to inner China to combat the wage inflation. I am sure others will follow. Wouldn’t that help sustain the influx of these employable citizens?

    • June 18, 2011 11:34 pm

      The problem is not that there is “skilled labor”. Labor is neither good nor bad… labor is people, the problem is a skill miss-match: there is labor “skilled” with skills for which there is no demand. China, like Europe and the US, has evolved an educational/social system that not match its skill sets to its labor needs and makes false promises to receive huge tuition payments.

      At this point, there is an overproduction of college educated labor, whose only job after college will be to devalue what is an overpriced college education system… I think I will write a longer article on this phenomena soon.

  2. Sarah permalink
    July 29, 2011 11:14 am

    Is Flooding Up Economics on vacation? Need to hear your take on the current debt ceiling so-called debate

    • July 30, 2011 10:41 am

      I’ve been very busy but will try to write something soon. However, I must say the whole conversation is incredible depressing, considering that prior to George Bush (remember Clinton?) we had a budget surplus. Meaning at that point the debt was eventually going to be paid off in entirety. For some reason you never hear anyone mention that.

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