China’s Exports Surge Are Drawing a Global Backlash

China’s factory exports are powering ahead faster than almost anyone expected, putting jobs around the world in jeopardy and setting off a backlash that is gaining momentum. From steel and cars to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for goods. The world’s appetite for its goods is welcomed by China, which is enduring a severe downturn in what had been the economy’s biggest driver of growth: building and outfitting apartments. But other countries are increasingly concerned that China’s rise is coming partly at their…

Murder and Magic Realism: A Rising Literary Star Mines China’s Rust Belt

For a long time during Shuang Xuetao’s early teenage years, he wondered what hidden disaster had befallen his family. His parents, proud workers at a tractor factory in the northeastern Chinese city of Shenyang, stopped going to work, and the family moved into an empty factory storage room to save money on rent. But they rarely talked about what had happened, and Mr. Shuang worried that some special shame had struck his family alone. It was not until later that he learned about the mass layoffs that swept northeastern China…

China’s Investors Are Losing Faith in Its Markets and Economy

Like many Chinese people, Jacky hoped that he could make enough money investing in China’s stock markets to help pay for an apartment in a big city. But in 2015 he lost $30,000, and in 2021 he lost $80,000. After that, he shut down his trading account and started investing in Chinese funds that track stocks in the United States. It’s a perilous time for investors in China. Their main vehicle, so-called A shares of Chinese companies, fell more than 11 percent in 2023 and have continued their losses this…

For China’s Jobless Young People, Hostels Are the Place to Be

In a youth hostel in downtown Shanghai, amid the dull roar of a hair dryer, the shriek of a blender and the lingering aroma of spicy instant noodles, Ethan Yi, 23, was pondering the state of the world. “Why can’t I, a college graduate, find a job?” Mr. Yi lamented as he sat in the hostel’s common room after a day of unsuccessful interviews. “Why is it only jobs that pay just $400 or $500 a month that want me? Sometimes I wonder, how can it be this hard?” That…

China’s Economic Outlook: Pep Talks Up Top, Gloom on the Ground

To the residents and business owners of Chedun, a working-class neighborhood in the southwestern outskirts of Shanghai, the signs of an anemic economy are all around. The factories that once drew workers from around the country have moved away. Those that remain have slashed wages. Around the affordable eateries and motley shops where workers once crowded, employees eagerly latch onto anyone passing by. “No one has money now, it’s obvious,” Cherry Qian, 25, said as she sat inside the electronics store she manages, which on Sunday afternoon had seen only…

A Crisis of Confidence Is Gripping China’s Economy

Earlier this year, David Yang was brimming with confidence about the prospects for his perfume factory in eastern China. After nearly three years of paralyzing Covid lockdowns, China had lifted its restrictions in late 2022. The economy seemed destined to roar back to life. Mr. Yang and his two business partners invested more than $60,000 in March to expand production capacity at the factory, expecting a wave of growth. But the new business never materialized. In fact, it’s worse. People are not spending, he said, and orders are one-third what…

China Suspends Youth Unemployment Report

The Chinese government, facing an expected seventh consecutive monthly increase in youth unemployment, said Tuesday that it had instead suspended release of the information. The unemployment rate among 16- to 24-year-olds in urban areas hit 21.3 percent, a record, in June and has risen every month this year. It was widely forecast by economists to have climbed further last month. The decision to scrub a widely-watched report could exacerbate the concerns expressed by investors and executives who say ever tightening government control of information is making it harder to do…

Why China’s Young People Are Not Getting Married

It has been a brutal three years for China’s young adults. Their unemployment rate is soaring amid a wave of corporate layoffs. Draconian coronavirus restrictions are over, but not the sense of uncertainty about the future they created. For many people, the recent turmoil is another reason to postpone major life decisions — contributing to a record-low marriage rate and complicating the government’s efforts to stave off a demographic crisis. Grace Zhang, a tech worker who had long been ambivalent about marriage, spent two months barricaded in the government lockdown…

Chinese Workers Confront the Curse of 35

When Sean Liang turned 30, he started thinking of the Curse of 35 — the widespread belief in China that white-collar workers like him confront unavoidable job insecurity after they hit that age. In the eyes of employers, the Curse goes, they’re more expensive than new graduates and not as willing to work overtime. Mr. Liang, now 38, is a technology support professional turned personal trainer. He has been unemployed for much of the past three years, partly because of the pandemic and China’s sagging economy. But he believes the…

Cathay Pacific Struggles With Aftermath of Covid, and China Crackdown

Few major airlines in the world were hit by the Covid pandemic as hard as Cathay Pacific, the flagship carrier of Hong Kong, or have labored so mightily to recover from it. Its business was decimated by some of the industry’s most expansive flight bans and quarantine requirements. And the pandemic wasn’t the start of Cathay’s troubles. In 2019, when Hong Kong was convulsed by pro-democracy protests, Cathay Pacific was caught in the crossfire with Beijing. Flights were canceled or delayed by airport sit-ins involving thousands of demonstrators, among them…