Youth unemployment; Xi-Trump Friday call; Xiangshan Forum; Huawei's AI chip roadmap; Taihe Institute shut
The Xi-Trump call is apparently scheduled for 9AM ET Friday
The Xi-Trump call is apparently scheduled for 9AM ET Friday. So far there have been no good leaks about what is on the agenda, other than TikTok.
Summary of today’s top items:
1. Youth unemployment - The unemployment rate for people aged 16 to 24, excluding students, rose to 18.9 percent in August from 17.8 percent in July, its highest level since that methodology for calculating youth unemployment changed in 2023. Caixin has a depressing story on the trend:
The numbers point to a worsening structural imbalance in the economy. Long-reliable white-collar sectors like tech, real estate and tutoring are scaling back amid broader structural adjustments, just as an unprecedented wave of skilled talent floods the market. The mismatch is leaving many graduates in cutthroat competition for a shrinking pool of attractive roles — or pushing them to delay entering the workforce.
With annual graduate numbers expected to exceed 10 million through 2040, the trend could leave swaths of young talent on …