Online, there is 'Cool China'—a futuristic, creative nation—and 'Real China,' which includes youth unemployment and economic struggles. Western audiences overwhelmingly consume the former, filtering out the grim realities that circulate within China's own internet.

China's narrative of national success is contradicted by a significant diaspora of its citizens—from millionaires and creatives to ordinary workers. This flight of human capital seeking stability and freedom abroad signals a fundamental precariousness within the authoritarian system that pure economic growth cannot solve.

The core issue behind America's economic and educational struggles is a cultural shift away from valuing ambition, hard work, and the pursuit of excellence. Society no longer shames mediocrity or celebrates the relentless pursuit of goals, creating a population unprepared to compete on a global stage.

China faces a severe labor market mismatch. Over the last five years, the number of university graduates grew by 40% to nearly 12 million. Simultaneously, the economy shed 20 million jobs, creating a surplus of educated youth with limited opportunities and suppressed wages.

A slow job market has created a new burnout phenomenon: "quiet breaking." Unlike quiet quitting (doing the bare minimum), employees feel trapped in their current roles. They are burning out from working harder than ever in jobs they are unhappy with but cannot easily leave.

Pro-socialist views among millennials can be understood as a logical reaction to a "broken generational compact." When economic realities like crushing student debt and unaffordable housing prevent a generation from accumulating capital and gaining a stake in the system, they are naturally inclined to question or reject that system.

China's aggressive adoption of AI and robotics has led to high youth unemployment alongside cheap, high-quality services. This scenario, sustained by family savings and cultural homogeneity, may offer a blueprint for how Western societies could function in a post-AI world with fewer traditional jobs.

The Gaokao produces millions of highly educated graduates, but China's slowing economy and the rise of AI cannot absorb them. This mismatch between educational output and job market capacity creates a potential powder keg of youth unemployment and social unrest.

While the real estate crisis was the initial trigger, the root cause of weak household consumption is now the precarious labor market. With nearly a third of urban workers in insecure "gig" roles, fear about job security is a bigger constraint on spending.