Thursday, August 22, 2024

Rotten tail Indians.

"Rising unemployment in China is pushing millions of college graduates into a tough bargain, with some forced to accept low-paying work or even subsist on their parents' pensions, a plight that has created a new working class of 'rotten-tail kids'.' "The phrase has become a social media buzzword this year," as "The jobless rate for roughly 100 million Chinese youth aged 16-24 crept above 20% for the first time in April last year." Reuters. In India, "Unpaid family workers have contributed to 37% of growth in India's workforce since 2017-18." "Women account for most of the growth in unpaid work, 34 million of the 42 million growth in unpaid workers has come from women." "Those with a graduate or higher degree contributed 3 million or 8.3% to the overall growth of unpaid workers from 2017-18 to 2022-23," wrote Abhishek Jha. "Since the shift to a three-child policy in 2021, Beijing has been running national campaigns to foster a 'pro-birth culture' as China's population shrinks and grays at an alarming rate." "Last year, the country's total fertility rate (TFR) - meaning the average number of children a woman delivers during her reproductive years - stood at around 1.0, according to the 2024 China birth report." In India, "In 1971, the country's fertility rate was at 5.2." "By 1991, this had come down to 3.6." "In 1971, total bank deposits in India amounted to just 12.6% of gross domestic product (GDP)" By 1991 this had increased to 33.4%, peaking at 70.6% in 2010. Rising deposits allowed banks to lend to businesses and economic growth jumped to 6.2% from 4.3% per year. In 2011, India's TFR fell to 2.1 and is currently at 2.0%. Wrote Vivek Kaul. In Maharashtra, "Educated and jobless men with family farms their only source of income are unable to find suitable brides for themselves." TOI. No marriage means no children. "High-income economies have a per capita Gross National Income...of $13,846 or more, according to the World Bank. With a per capita income of around $2,400, India is among the lower middle-income countries." Indian firms take 40 years to double in size, "while in the US, they grow seven-fold in the same period." BBC. "India's population is expected to peak at 1.7 billion," and then start declining from 1962. "A decade before the overall population starts declining the working-age population will stop increasing at a faster rate than the general population. This means that there will be more children and elderly people dependent on a shrinking working age population. Per capita income will start falling and per capita spending will rise." DH. But what if India's TFR falls even faster. Multinational companies are leaving Pakistan for Dubai because of internet interruptions. Dawn. We are much worse. "India had the longest internet shutdown in 2023 in terms of user hours, according to a report by virtual network tracker Top 10VPN." ET. Ex-Google engineer Debarghya Das wrote on X, "Young citizens are losing faith in the country as police, government, infrastructure and judiciary constantly fail." msn. Hence, there are about 725,000 Indians living in the US illegally, third highest after Mexico and El Salvadore. The Hindu. Not just young citizens. All of us are losing faith. Except for Bhakts (DH). 

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