China’s premier seeks succor for struggling companies as youth unemployment soars

This photo taken on June 2, 2024 shows people attending a job fair in Huai'an, in eastern China's Jiangsu province. (AFP)
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Updated 17 August 2024
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China’s premier seeks succor for struggling companies as youth unemployment soars

  • Youth unemployment in the world’s second-largest economy ticked up to 17.1 percent in July, the highest level this year
  • Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already tough job market

BEIJING: China's Premier Li Qiang on Friday called for struggling companies to be “heard” and “their difficulties truly addressed,” according to state news agency Xinhua.

Li, who is responsible for economic policy, issued the directive 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.

Youth unemployment in China ticked up to 17.1 percent in July, official figures showed, the highest level this year.

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 percent.
The closely watched metric peaked at 21.3 percent in June of 2023, before authorities suspended publication of the figures and later changed their methodology to exclude students.
Nearly 12 million students graduated from Chinese universities this June, heightening competition in an already tough job market and likely explaining July’s sharp increase in joblessness.
In May, President Xi Jinping said countering youth unemployment must be regarded as a “top priority.”




Job seekers attend an employment fair in Beijing on March 20, 2024. (AFP)

Among 25- to 29-year-olds, the unemployment rate stood at 6.5 percent for July, up from the previous month’s 6.4 percent.
For the workforce as a whole, the unemployment rate was 5.2 percent.
However, the NBS figures paint an incomplete picture of China’s overall employment situation, as they take only urban areas into account.
The new unemployment figures come on the heels of other disappointing economic data from Beijing, including figures showing dampened industrial production, despite recent government measures aimed at boosting growth.
Industrial production growth weakened in July, with the month’s 5.1 percent expansion down from June’s 5.3 percent and falling short of analyst predictions.
China’s major cities also recorded another decline in real estate prices last month, a sign of sluggish demand.
Demand for bank loans also contracted for the first time in nearly 20 years, according to official figures published earlier this week.
International challenges are also mounting, with the European Union and the United States increasingly imposing trade barriers to protect their markets from low-cost Chinese products and perceived unfair competition.
 


Columbia student detained by ICE is abruptly released after Mamdani meets with Trump

Updated 53 min 40 sec ago
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Columbia student detained by ICE is abruptly released after Mamdani meets with Trump

  • Ellie Aghayeva, an Azerbaijani, hasn’t been publicly linked to any of the pro-Palestinian demonstrations
  • Mamdani asked Trump to drop cases against other students facing deportation for their roles in protests against Israel
NEW YORK: Federal immigration authorities arrested a Columbia University student early Thursday, triggering protests on campus along with allegations that agents had entered the university-owned residence under false pretenses.
Just hours after detaining student Ellie Aghayeva, though, the federal government abruptly reversed course, permitting her to walk free after an apparent intervention by President Donald Trump.
In a social media post Thursday afternoon, Mayor Zohran Mamdani said he expressed concerns about the arrest during an unrelated meeting with Trump, who then agreed to release her immediately.
“I am safe and okay,” Aghayeva wrote on Instagram, minutes after Mamdani’s post, adding she was in “complete shock” from the experience.
The head-spinning series of events marked the latest development to emerge from the Republican president’s unlikely relationship with a democratic socialist mayor he once threatened to have deported.
On Thursday, while pitching Trump on a massive housing project, Mamdani also called on the president to drop cases against several other current and former students facing deportation for their roles in protests against Israel.
Aghayeva, a senior from Azerbaijan studying neuroscience and politics, hasn’t been publicly linked to any of the pro-Palestinian demonstrations that roiled Columbia’s campus. A self-described content creator, she has amassed a large social media following by sharing day-in-the-life videos and tips for navigating college as an immigrant.
Early Thursday, federal agents gained entry to her apartment by claiming they were searching for a missing person, according to a petition from her lawyers and a statement released by Columbia. She quickly dashed off a message to her more than 100,000 followers on Instagram: “DHS illegally arrested me. Please help.” A photo accompanying the post appeared to show her legs in the backseat of a vehicle.
A Department of Homeland Security spokesperson said Aghayeva’s student visa had been terminated in 2016 for failing to attend classes. Inquiries to Columbia about her visa status and how long she had been enrolled in the university were not returned.
In their petition, attorneys for Aghayeva said she had entered the country on a visa in or around 2016. They declined to provide additional comment, including details about her immigration status.
A spokesperson for DHS, Tricia McLaughlin, denied allegations levied by some state officials that agents had gained entry to her apartment by posing as New York City police officers. She didn’t respond to questions about whether they had claimed to be seeking a missing person.
The use of disguises or other misrepresentations by immigration authorities has drawn attention in recent months, after federal agents were seen posing as utility workers and other service employees in Minneapolis and elsewhere.
The practice is legal, in most cases. But immigration attorneys say such ruses are becoming increasingly common, adding to concerns about the Trump administration’s dramatic reshaping of immigration enforcement tactics nationwide.
In recent weeks, Trump has once again intensified his attacks on several universities, including Harvard and UCLA. The arrest would seem to mark the first federal enforcement action against at Columbia since the university agreed to pay more than $220 million to the administration over the summer.
“It’s a horrifying sign that the roving eye of the administration is turning back to Columbia,” said Michael Thaddeus, a mathematics professor at Columbia and vice president of the university’s chapter of the American Association of University Professors, which has sued Trump. “The idea that secret police would abduct and imprison students in our midst is something we’d expect from an authoritarian regime.”
Many students and faculty called on Columbia to increase protections for international students following the arrest last March of Mahmoud Khalil, a former graduate student and pro-Palestinian activist, whose deportation case remains ongoing.
In an email to the Columbia community Thursday, acting president Claire Shipman said that residential staff had been reminded not to allow federal law enforcement into university buildings without a subpoena or warrant.
“If you encounter or observe DHS/ICE agents conducting enforcement activities on or near campus, immediately contact Public Safety,” Shipman wrote. “Do not allow them to enter non-public areas or accept service of a warrant or subpoena.”