China releases economic data – but missing set of figures on youth unemployment will spark concern
There was no prior suggestion that today’s set of economic data would be any different in make up than previous months; indeed figures for retail sales, industrial production and employment were all there as expected.
But there was one set of data notably missing, and it was one that many observers had been specifically looking out for.
In fact, China announced today that for the foreseeable future it will not be releasing the numbers for youth unemployment (the percentage of people between 16-24 out of work).
It is a notable admission because these are the exact figures that have been soaring in recent months, reaching record highs of 21.3% in June, nearly doubling since the start of 2019.
China’s Bureau for National Statistics said the admission was due to “complexities” in the numbers that need to be ironed out. Economic and social changes, it said, is forcing it to reassess its methodology.
But it has raised eyebrows and sparked concern about data transparency in the world’s second-largest economy.
Indeed, the reality is that China’s economy is currently facing its biggest challenge in many years.
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Just last week it was announced that prices are actually now falling here, sparking fears of deflation, exports and import numbers sank dramatically year-on-year in July and growth across multiple metrics is sluggish and below expectations at best.
In fact, Chinese people are being actively encouraged not to talk about deflation.
But youth unemployment poses arguably a more acute challenge for this one party state.
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China’s economy slips into deflation
Indeed, this generation of young people have grown up amidst an economic boom, believing that they will go on to have a better life than their parents.
Economic success and stability is at the heart of the leading Communist Party ‘social contract’ with its people, if young people feel they can no longer get on in life, that is a huge challenge.
But the causes are not easily fixed, a rising number of college graduates, an increasingly educated population who do not want to take rural or manual jobs and an economy left struggling after the COVID pandemic means there is simply a mismatch between the number of good jobs and the number of people who want them.
The reality too is that these figures only cover those in urban areas and not rural, so the issue may be even more acute than it seems.
There is a growing feeling of unease and disillusionment amongst many young people in China who feel they have worked hard, and that is a very serious issue for the government here that won’t be fixed by obscuring the figures.
A police officer has been injured after a night of violent protests outside an asylum hotel in Dublin – with six arrests made.
Bricks were thrown and fireworks were discharged outside the Citywest Hotel – with glass bottles used as missiles and a police van set on fire.
A Garda helicopter was also targeted with lasers, and the police service says some of those on the streets were seen carrying garden forks.
Pic: PA
Pic: PA
Commissioner Justin Kelly added: “This was obviously not a peaceful protest. The actions this evening can only be described as thuggery. This was a mob intent on violence.
“We will now begin the process of identifying those who committed crimes and we will bring those involved in this violence to justice.”
It is the second night of demonstrations after an alleged sexual assault in its vicinity in the early hours of Monday morning.
Some of the crowd threw stones and other missiles at the public order officers as they moved the protesters back – and water cannon was deployed at the scene.
A line of officers was preventing the protesters from approaching the hotel.
Police officers block protesters outside the hotel. Pic: PA
‘Those involved will be brought to justice’
Ireland’s premier, Taoiseach Micheál Martin, paid tribute to the officers who were on the frontline of the protests.
“There can be no justification for the vile abuse against them, or the attempted assaults and attacks on members of the force that will shock all right-thinking people,” he said.
Justice minister Jim O’Callaghan said those involved in the violence will be brought to justice.
“The scenes of public disorder we have witnessed at Citywest must be condemned,” he said.
“People threw missiles at Gardai, threw fireworks at them and set a Garda vehicle on fire.
“This is unacceptable and will result in a forceful response from the Gardai.
“Those involved will be brought to justice.”
‘No excuse’ for violence
The minister said a man had been arrested and had appeared in court in relation to the alleged assault in the vicinity of the hotel.
He added: “While I am not in a position to comment any further on this criminal investigation, I have been advised that there is no ongoing threat to public safety in the area.”
He said attacks on officers would “not be tolerated”, adding: “Peaceful protest is a cornerstone of our democracy. Violence is not.
“There is no excuse for the scenes we have witnessed.”
The demonstration on Monday night passed without a significant incident.
It comes two years after anti-immigrant demonstrators triggered a major riot in the centre of Dublin after three young children were stabbed.
A police van has been set on fire and missiles have been thrown at officers as protesters gathered outside a hotel used to house asylum seekers in Dublin.
It is the second night of demonstrations outside the Citywest Hotel after an alleged sexual assault in its vicinity in the early hours of Monday morning.
A large crowd has gathered in the area and members of the Garda’s public order unit have been deployed.
Footage from the scene showed a Garda vehicle on fire as well as several protesters displaying Irish flags.
Many protesters carried Republic of Ireland flags
Some of the crowd threw stones and other missiles at the public order officers as they moved the protesters back.
A Garda helicopter hovered overhead and a water cannon was deployed on the scene.
Ireland’s justice minister, Jim O’Callaghan, said those involved will be brought to justice.
“The scenes of public disorder we have witnessed at Citywest tonight must be condemned,” he said.
“People threw missiles at Gardai, threw fireworks at them and set a Garda vehicle on fire.
“This is unacceptable and will result in a forceful response from the Gardai.
“Those involved will be brought to justice.”
The minister said a man had been arrested and had appeared in court in relation to the alleged assault in the vicinity of the hotel.
He added: “While I am not in a position to comment any further on this criminal investigation, I have been advised that there is no ongoing threat to public safety in the area.
He said attacks on gardai will “not be tolerated”, adding: “Peaceful protest is a cornerstone of our democracy. Violence is not.
“There is no excuse for the scenes we have witnessed tonight.”
It was the second night of protest outside the hotel, which is being used as state accommodation for people seeking international protection. The demonstration on Monday night passed without a significant incident.
It comes two years after anti-immigrant demonstrators triggered a major riot in the centre of Dublin after three young children were stabbed.
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There are no plans for Donald Trump and Vladimir Putin to meet in person in the near future, according to a White House official.
The presidents last week agreed to meet in Budapest after a phone call Mr Trump called “extremely frank and trustful”.
The US leader suggested it was possible it could happen within a fortnight, though no date was set.
However, it appears that’s now off the table – and there are fears the meeting could be shelved altogether due to Russia‘s rigid stance on the Ukraine war.
The White House official, speaking to Sky’s US partner network NBC, said secretary of state Marco Rubio and Russian foreign minister Sergei Lavrov had spoken on Tuesday.
The call was described as “productive” but the official added there was no plan for the presidents to meet “in the immediate future”.
The last Trump-Putin meeting was in Alaska in August, but it ended without any meaningful progress towards a ceasefire.
The Budapest plan was announced shortly before Ukrainian President Volodymyr Zelenskyy travelled to Washington last Friday to try to get approval for long-range Tomahawk missiles.
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Why Tomahawks are off the table
Mr Zelenskyy accused the Russian leader of acting out of fear Ukraine could get the green light and the ability to hit targets far deeper into Russia.
In his nightly address on Tuesday, he said Russia “almost automatically became less interested in diplomacy” after it became clear Mr Trump had backed away from any decision on the Tomahawks.
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Professor Michael Clarke answers your questions on the Ukraine war.
Two US officials told Reuters that plans for the Budapest meeting had stalled over Russia’s insistence any peace deal must give it control of all of the Donbas region.
Those terms are said to have been reiterated over the weekend in a private communique known as a “no paper”.
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The Kremlin’s refusal to budge effectively rejects Mr Trump’s latest assessment that the frontlines should be frozen as they are.
The president shifted position last week after previously telling the UN General Assembly that Ukraine could win back all the land it has lost.
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Putin’s ‘not so secret weapon’ | Ukraine war Q&A
UK ‘ready to spend over £100m’ on possibly sending troops to Ukraine
Ukraine and European nations issued a joint statement on Tuesday insisting “international borders must not be changed by force” and accusing Russia of “stalling tactics”.
But, in an apparent effort to keep the US leader onside, it added: “We strongly support President Trump’s position that the fighting should stop immediately, and that the current line of contact should be the starting point of negotiations.”
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Trump: ‘We can end this war quickly’
Kremlin spokesman Dmitry Peskov gave the impression his country was in no rush to arrange another Trump-Putin meeting, saying on Tuesday “preparation is needed, serious preparation”.
Such talk is likely to increase concerns Russia does not want to stop fighting and is “playing” President Trump – all while continuing to launch drone barrages at Ukrainian cities.
Russia currently holds about a fifth of Ukraine after its invasion in February in 2022. It also annexed the Crimean peninsula in 2014.
Meanwhile, NATO’s secretary general Mark Rutte is travelling to Washington to meet with President Trump on Wednesday.
He will “discuss various aspects related to NATO’s support to Ukraine and to the US-led efforts towards lasting peace”, an official for the alliance said.
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