Demoralized by a weak economy and unfulfilling jobs, young people in China are dropping out, exploring spirituality and becoming more rebellious

Demoralized by a weak economy and unfulfilling jobs, young people in China are dropping out, exploring spirituality and becoming more rebellious

Disheartened by a sluggish economy, unfulfilling jobs, and an overbearing state, young individuals in China, like Li, are seeking alternative paths divergent from the predetermined lives envisioned by their elders, placing themselves in opposition to the country's established priorities.

Having diligently pursued education at esteemed universities and dedicated long hours to rapidly expanding companies, many in their 20s and 30s initially adhered to conventional expectations regarding careers and family, reaping material success from China's economic boom. However, a growing segment of the urban middle class is beginning to question, if not outright reject, this trajectory as the prospects for upward mobility diminish.

Over two years of stringent government COVID-19 controls have prompted some to reevaluate the role of the Communist Party and other sources of authority in their lives. Additionally, a record youth unemployment rate surpassing 21% this year has eroded confidence in the traditional routes to success in China. Issues such as violence against women and government restrictions on accessing foreign apps have further fueled frustration, leading some, including Li, to resign from their jobs and explore alternative pursuits like meditation and spirituality.

A significant number are relocating from bustling megacities to places like Dali, a southwestern city renowned as a haven for digital nomads and those seeking a departure from the conventional path. Others are embracing fortune-telling and exploring philosophical and literary works, both Chinese and Western, as they grapple with questions about life, identity, and aspirations. Some are even organizing "quitting parties" to celebrate their newfound sense of freedom.

Sara Friedman, a professor of anthropology and gender studies at Indiana University, notes, "This generation has had a lot of resources invested in them." Around 34% of respondents in their mid-20s considered or actually resigned from jobs in China's consumer internet sector—a significant employer of young individuals—in the first half of 2023.

Lottery ticket purchases have surged among individuals in their 20s and 30s, contributing to a remarkable $67 billion in sales from January to October, representing a 53% increase from the previous year, with an average spending of $48 per person in China.

Key phrases reflecting this mood have entered everyday conversations. In 2020, the term "neijuan" or "involution" gained prominence, describing situations where people work tirelessly and compete without any tangible progress.

Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.