Youth unemployment in China ticked up to 17.1% in July, official figures showed, the highest level this year as the world’s second-largest economy faces mounting headwinds.
China is battling soaring joblessness among young people, a heavily indebted property sector and intensifying trade issues with the West.
Chinese Premier Li Qiang, who is responsible for economic policy, called Friday for struggling companies to be “heard” and “their difficulties truly addressed,” according to the state news agency Xinhua.
The unemployment rate among 16- to 24-year-olds released Friday by the National Bureau of Statistics (NBS) was up markedly from June’s 13.2%.
Sigh.
Brazil is held back because they have a tiny majority of super-rich landholders who control the political landscape, not the US.
There’s a name for them, they prefer Brazil does worse if it means they get more control.
Until their political power (they control most states outside the urbanized ones) is neutralized, Brazil is doomed.
As the GP points, it’s not so simple. The landholders are not the super-rich, the super-rich are all politicians, without exception. The next tier of Brazilian riches are industrialists, and nearly all of those got everything they have by exploiting political connections.
And guess what, the successful politicians of today are all people that developed their political career during the last dictatorship or close allies of them. And if you look at party financing, media allocation, and how the electoral courts behave, the reason becomes obvious quite quickly.