"China's Youth Unemployment Crisis Threatens Second-Biggest Economy"

China is facing a youth unemployment crisis, with the unemployment rate for people aged 16 to 24 rising to a record high of 21.3% in June. The country's inability to cope with the increasing number of graduates and shrinking job opportunities could have serious consequences for the world's second-largest economy. The pressure on wage growth and lack of consumption may further hinder economic growth and potentially lead to social instability. Factors contributing to the crisis include mismatches between the skills graduates acquire and those required by employers, as well as regulation changes in major industries. To address the issue, experts suggest reducing tight regulations on the private sector and aligning school disciplines with business demand.