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Chinese popular culture - Essay Example

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Unemployment in China Unemployment in China Introduction Unemployment is a major issue in China and the country is considering as one of the biggest hurdle in its immense growth. This research paper would look into how college graduates and peasant laborers of China are coping with high unemployment in China and what are the advantages and disadvantages of the facilities provide to this unemployed class by the Chinese governments…
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Chinese popular culture
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Chinese popular culture

Download file to see previous pages... Especially in immensely growing economies like China or India, college graduates are of pivotal importance. This is because college graduates are the source of talent for the countries. Due to unemployment for many reasons, the pool of talent at the college level is lost and their talents to ensure sustainable growth over the period of time go into the drain. In China, it is estimated that this year around 7 million students will pass out from colleges and universities. These numbers are the biggest since 2012, when 6.8 million students passed higher college or universities. Keeping this in view, unemployment rate in China will go above the current rate, i.e. 20%, as around 54% out of 7 million students would find it difficult to find a suitable job (Chan, 2010). In this scenario, where college graduates are still unemployed, the Chinese government has to step in and facilitate those students. Biggest advantage of unemployment that Chinese college graduates can receive is that, they are provided with funds by the government in order to empower them to start earning. But on the other hand, majority of the Chinese corporations and businesses are more leaning towards foreign talent than to trust their own pool of talent. As a result, this pool of talent is becoming a waste and the college graduates’ lifestyle has also gone below par. The perfect example of projecting this misery is that, Chinese unemployed graduates are forced to live in small colonies, where each apartment is filled with 8 to 9 college graduates. Despite of living difficulties these college graduates are facing, another dilemma they are indulging into is criminal activities. By adopting a wrongful path, these college graduates aim to make more money in a relatively less amount of time (Solinger, 1999). To meet their expenditures, these unemployed college graduates majorly depend upon the aid they receive from the government. This aid enables unemployed college graduates to fulfill their expenditures for housing, education, food and travelling. But, due to increasing unemployment, the aid provided to the students is becoming a burden on national reserves. Chinese government reports millions of Yuan that are spent on the social security of these unemployed college graduates. On the other hand, other source of income for these unemployed college graduate is through criminal activities, purchase and sell of drugs, engaging into trash jobs which prevents the talent to reach at the top notch corporate level where the can prove to be more beneficial. Even if they find a job, it might be in the field for which they are not qualified or they do not have ambitions for. In this scenario, they fall victim to boredom at job place and their performance levels are decreased. Moreover, it causes severe depression and stress due to dissatisfaction form the job. Unemployed Peasant Laborers Peasant laborers are those laborers who work at a very basic level of country’s economy. These might include farmers and other self-employed basic level workers. These workers are considered as being the biggest victim of unemployment. This is because, these are the one who produce items of basic necessities and perform basic jobs that are pivotal for the growth of ...Download file to see next pagesRead More
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