"Chinese Millennials and Gen Z Adjust Expectations Amid Sluggish Economy"
China's millennial and Generation Z workers are facing lower economic expectations as the country's once rapid economic growth slows down. The younger generation, who grew up witnessing their parents' rise from rural poverty to urban wealth, now face a more challenging economic landscape with fewer opportunities for growth and job prospects. Factors such as slowing job creation, struggling small and medium-sized businesses, and record-high youth unemployment rates are contributing to the gloom among the younger workforce. Additionally, a regulatory crackdown on tech and education firms has led to layoffs, prompting some to drop out of the formal economy, reflecting a shift in attitudes towards work and economic value.
