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China's Challenges are the world's challenges, TSM the flash point

Arthur Hanson

Well-known member

With the growing youth unemployment and over education challenge China is facing with a leader that will stay in power at all costs, the Western world and the rest of the world have a serious challenge to deal with. A worldwide economic challenge will hurt all and especially the tech sector. It's hard to think of politics on this scale impacting the semi sector, but their leader sees taking Taiwan as a solution and not a disaster for all. I hope wisdom can prevail on all sides. If China takes Taiwan, all will lose. With all three major powers have leaders not up to the challenge, I hope the leadership of the tech sector from social media to the semi sector can come up with solutions for the alternative is disaster for all. It's up to the broad and powerful tech sector to solve the challenges before us and never has the power been so great from social media, AI/ML with the communications and computational power we have now to provide solutions to everything from energy to food to economics. It is not going to come from Xi, Putin or Biden. Now is the time for the tech leaders to step up to the plate.
 
WIth regards China Youth Unemployment , India have similar issue , massive over education and an economy that cannot absorb the millions of graduates produced every year.
In fact can the world absorb?
India currently trying to do economic deals with countries which allow a freedom of movement as a main crutch.
With the increasing expectations of the youth of the world as education opportunities increase, it isnt just China who are sweating.
 

With the growing youth unemployment and over education challenge China is facing with a leader that will stay in power at all costs, the Western world and the rest of the world have a serious challenge to deal with. A worldwide economic challenge will hurt all and especially the tech sector. It's hard to think of politics on this scale impacting the semi sector, but their leader sees taking Taiwan as a solution and not a disaster for all. I hope wisdom can prevail on all sides. If China takes Taiwan, all will lose. With all three major powers have leaders not up to the challenge, I hope the leadership of the tech sector from social media to the semi sector can come up with solutions for the alternative is disaster for all. It's up to the broad and powerful tech sector to solve the challenges before us and never has the power been so great from social media, AI/ML with the communications and computational power we have now to provide solutions to everything from energy to food to economics. It is not going to come from Xi, Putin or Biden. Now is the time for the tech leaders to step up to the plate.
Mr. Hanson what you stated are true and your worries are real and appreciated. But for tech leaders their #1 job is to bring profits to their shareholders. The unemployment and overeducation problems you explained are social or society structural problems. I doubt any tech leaders will want to touch them even with a 10 foot pole.
 
Mr. Hanson what you stated are true and your worries are real and appreciated. But for tech leaders their #1 job is to bring profits to their shareholders. The unemployment and overeducation problems you explained are social or society structural problems. I doubt any tech leaders will want to touch them even with a 10 foot pole.
Living and doing business in a stable society has to be the priority otherwise everyone can be put in a lose, lose situation. No one wants to live in a destabilizing country. Business is just one priority of being an political/economic/business leader. A truly intelligent person strives to create win/win constructs for this offers the best place to live, prosper and enjoy live.
 
Unemployment is a short term issue in China(or any country whose population is declining). Since China is experiencing population decline,the long term issue will be labour shortage,just like what's happening in Japan and Korea
 
Unemployment is a short term issue in China(or any country whose population is declining). Since China is experiencing population decline,the long term issue will be labour shortage,just like what's happening in Japan and Korea
...assuming that labor intensive industries won't leave...

So unemployment might be actually long term. Just like in EU.

Overeducation might be also similar to EU.
 
...assuming that labor intensive industries won't leave...

So unemployment might be actually long term. Just like in EU.

Overeducation might be also similar to EU.

The EU has tons of miagrate from Africa/Middle east,look at how many low level jobs are filled by miagrates. Native Europeans don't want to take those "unattractive" jobs. The same is true in Korea,where college graduates struggling to find a "decent" white-collar job,at the same time they have to import large amount of workers from SE asia to do those not so attractive works. It's often the big corporations demand gov to allow more imported workers

So it's all about gov policies. If gov not be swayed by lobbies from big corporations and impose strict restriction on foreign labour,there will be more than enough jobs.

Also,another important factor in EU's relatively high unemployment compare to the US and Asia,is because of welfare. High welfare incentivize people not to work. Which is not the case in Asia,even in very rich country like Singapore,you can find lots of 60+ old people still need to work hard every day in order to survive. EU's welfare standard is much much higher than those in Asia with comparable GDP per capita. EU leaders knows it very well,however the political reality in Europe makes it too hard to change,just look at the recent French pension reform,or Greeks refuse to cut welfare even during worst time of debt crisis. It's a problem Europe(or any democracies)can not fix easily,because in democracies politician need votes from people to stay in power,but people don't care if the country goes broke,they just want to keep their welfare. So politicians have no good option,if they choose to save the economy by cutting welfare,they'd lose power.

Overeducation is not the correct word,at least not in China. I would use the word "skill mismatch". Because in China,there is still a huge shortage in hige level talents in areas like emerging technology,semiconductor,biotech etc. China still has to import a lot of people with specialized skill from abroad every year.
 
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The EU has tons of miagrate from Africa/Middle east,look at how many low level jobs are filled by miagrates. Native Europeans don't want to take those "unattractive" jobs. The same is true in Korea,where college graduates struggling to find a "decent" white-collar job,at the same time they have to import large amount of workers from SE asia to do those not so attractive works. It's often the big corporations demand gov to allow more imported workers

So it's all about gov policies. If gov not be swayed by lobbies from big corporations and impose strict restriction on foreign labour,there will be more than enough jobs.

Also,another important factor in EU's relatively high unemployment compare to the US and Asia,is because of welfare. High welfare incentivize people not to work. Which is not the case in Asia,even in very rich country like Singapore,you can find lots of 60+ old people still need to work hard every day in order to survive. EU's welfare standard is much much higher than those in Asia with comparable GDP per capita.

Overeducation is not the correct word,at least not in China. I would use the word "skill mismatch". Because in China,there is still a huge shortage in hige level talents in areas like emerging technology,semiconductor,biotech etc. China still has to import a lot of people with specialized skill from abroad every year.

You reckon its a positive image to having "pensioners" doing menial jobs to survive?
Its one of the poor refelctions on Singapore and the image they look to push. Even had a minister say that the pensioners who were out collecting cardboard to eke out survival "enjoyed what they were doing and were only doing it for exercise"

Despite the language you are using nobody "incentives" not working. Stay away from the right wing media and chat groups.
 
...
Overeducation is not the correct word,at least not in China. I would use the word "skill mismatch". Because in China,there is still a huge shortage in hige level talents in areas like emerging technology,semiconductor,biotech etc. China still has to import a lot of people with specialized skill from abroad every year.
Higher education produces more specialized graduates. Plus they have higher expectations. They keeps waiting for better opportunity instead of accepting lower level offer. So skill mismatch is much stronger in highly educated society.

Welfare is more complicated and I don't know whether it should be discussed here, but in short: You have to pay into welfare funds even when You are unemployed.
 
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