Xi wants to turn China into a high-tech economy, but the Chinese lack the education

## Interview with Wang Yi on China‘s Job Market Woes Welcome to archyde News, Mr. Wang. Thank you for joining us today to discuss the challenges facing China’s economy, notably in the job market. It’s a pleasure to be here.

A Growing Challenge: Youth Unemployment in China

Recent reports paint a concerning picture of rising youth unemployment in China. Can you elaborate on the situation and its potential impacts? China indeed faces a growing challenge with youth unemployment, currently at a staggering 18.8 percent. This year alone,12 million students will enter a job market that’s not prepared to absorb them. We’re seeing a notable mismatch between the skills taught in universities and vocational schools and the needs of a rapidly evolving economy. Our education system, while robust, isn’t keeping pace with the rapid advancements in technology. Consequently, graduates frequently enough lack the specialization and practical experience that employers are demanding.

Addressing the Skills Gap: Goverment Action

President Xi Jinping acknowledged these challenges in his New Year’s address, emphasizing the need for adaptation. What specific actions can the Chinese government take to address this skills gap? The government is committed to tackling this issue head-on. We are focusing on several key areas. Firstly, we are working to reform our education system to better align with the demands of the modern workforce.This includes promoting vocational training and apprenticeships, and also encouraging universities to offer more specialized programs in high-growth sectors. Secondly, we are investing heavily in infrastructure and technological progress to create new job opportunities. we are working to support entrepreneurship and small businesses, as these are frequently enough the biggest drivers of job creation.

China’s Economic Future: A Conversation with Wang Yi

In today’s rapidly changing global economy,China faces increasing competition from emerging markets like India and Vietnam. This shift presents unique challenges for its workforce, particularly young graduates venturing into an uncertain job market. Wang Yi, a leading economic analyst, acknowledges the slowdown in China’s economic growth and the rising pressure from countries offering lower labor costs. He believes that while China still benefits from a large young workforce, the customary “demographic dividend” is fading as the population ages.

“China’s economic growth has slowed, and there’s no denying the increasing competition from other emerging economies. […] Moreover, our manufacturing sector, long a pillar of growth, is facing intense pressure from countries with lower labor costs.”

Adapting to a New economic Landscape

To maintain its competitive edge, China must transition to a higher-value economy, focusing on innovation in high-tech industries and developing a more skilled workforce. Wang Yi offers crucial advice to young Chinese individuals entering the job market: “Focus on developing transferable skills, focusing on lifelong learning and adaptability. Embrace technology, learn new programming languages, and stay informed about the latest industry trends. Don’t be afraid to take on internships, volunteer positions, or freelance projects to gain practical experience.” He emphasizes the importance of persistence and resilience, recognizing that the job market might potentially be challenging but achievable with hard work and the right skills.
## Interview with Wang Yi on China’s Job Market Woes



**Archyde News:** Welcome to Archyde News, Mr. Wang. Thank you for joining us today to discuss the challenges facing China’s economy, notably in the job market.



**Wang Yi:** It’s a pleasure to be here.



**Archyde News:** Recent reports paint a concerning picture of rising youth unemployment in China. Can you elaborate on the situation and its potential impacts?



**Wang Yi:** China indeed faces a growing challenge with youth unemployment, currently at a staggering 18.8 percent. This year alone, 12 million students will enter a job market that’s not prepared to absorb them [ [1](https://github.com/sagepublishing/sage_tools_social_science/blob/master/data/master_tools_current.csv) ].



We’re seeing a notable mismatch between the skills taught in universities and vocational schools and the needs of a rapidly evolving economy. Our education system, while robust, isn’t keeping pace with the rapid advancements in technology. Consequently, graduates frequently enough lack the specialization and practical experiance that employers are demanding.



**Archyde News:** President Xi Jinping acknowledged these challenges in his New Year’s address, emphasizing the need for adaptation. What specific actions can the Chinese government take to address this skills gap?



**Wang Yi:** The government is committed to tackling this issue head-on. We are focusing on several key areas. firstly, we are working to reform our education system to better align with the demands of the modern workforce.This includes promoting vocational training and apprenticeships, and also encouraging universities to offer more specialized programs in high-growth sectors. Secondly, we are investing heavily in infrastructure and technological progress to create new job opportunities. We are working to support entrepreneurship and small businesses as key drivers of employment.



**Archyde News:** Thank you for sharing your insights,Mr. Wang. This is a crucial issue with far-reaching consequences, and it’s critically important that both the government and the private sector work together to find solutions.