Youth employment; U.S.-EU Trade and Technology Council; De-risking anger; Musk messaging; Shangri-La Dialogue
Summary of the Essential Eight:
Grim youth employment situation - Researcher Wang Mingyuan 王明远 has written a grim analysis of the youth unemployment situation and argues that it is going to get worse. Wang writes that "from now until 2030 will be the most challenging period for employment since China's reform and opening-up. It not only requires addressing the unemployment stock over the past three years but also facing the fact that urban employment demand will reach its historical peak. The employment dilemma will be more prominent than ever before".
U.S.-EU Trade and Technology Council Joint Statement - China is only mentioned by name twice in the TTC statement but clearly many parts have China in mind. While the language is not as tough and specific as various media reports say the US wanted, it will still anger the PRC. The statement voices concern about the “the impact of non-market economic policies, on the global supply of semiconductors, particularly in legacy chips”, which is …