a university degree. only around one third of her class have found full time jobs. she is taking a job in sales, not her dream career, but she is determined to make the most of every opportunity. do you think it is more difficult now than when your parents were growing up to get a job? translation: yes. the fact is that there are lots ofjobs. the trouble is whether you are willing to lower your expectations. these jobs don t have good prospects for your future. they offer low salaries and you are easily replaceable. that is why most people would rather stay at home than choose one of these jobs. some disillusioned graduates posted photos on social media suggesting their degrees were worthless. others lay on the ground, lying flat it is called, a term used by young people opting out of the competition of modern life. as the number of young, unemployed people continued to rise, the chinese leader, president xi, came up with an idea. for decades, young people have left rural are
let s speak to david woo, a former international monetary fund economist and macro strategist. thank you for coming in the programme. thank you for coming in the programme- thank you for coming in the rouramme. . ., ., programme. thanks for having me. what is going programme. thanks for having me. what is going on programme. thanks for having me. what is going on here, programme. thanks for having me. what is going on here, what - programme. thanks for having me. what is going on here, what is - programme. thanks for having me. what is going on here, what is the | what is going on here, what is the root of this problem? i what is going on here, what is the root of this problem? root of this problem? i think the root of this problem? i think the root cause root of this problem? i think the root cause here root of this problem? i think the root cause here is root of this problem? i think the root cause here is the root of this problem? i think the root cause here is the c
in the end, this leads to long-term collapse. debasing the coinage, that s what they used it to call it. by the middle of the third surgery, the rome into the area, the silver coin was 2% silver. the entire roman empire blew up in the barbarians took over. it wasn t just the romans who did this. every government devalues its currency at some point. they do it because of the irresistible. you can t not do it. if you do it you get free money don t have to raise taxes. seems like a good idea but in the end every government pays the price for doing this. more precisely its citizens do. the current inflation, horrible as it is, hardly unexcited. you have to be a fed chairman not to have seen it coming. what s confusing as hell is our labor market. the underpayment rate is higher than it was before covid. not a ton but some. that means fewer people have jobs that did two years ago. labor force participation, slightly different measurement,