Part 5/11:
Historically, China experienced rapid prosperity following economic reforms in the late 20th century. The opening of markets and the influx of foreign investment transformed China into a global powerhouse. Many Chinese, even from humble backgrounds, managed to ascend the social ladder—and the dream of wealth seemed attainable.
However, this trajectory has hit significant roadblocks. Overcrowded industries, environmental degradation, and rising living costs have made upward mobility more challenging. Youth unemployment has surged, with many young people forced into low-skilled jobs like drivers or laborers despite their qualifications—a stark contrast to earlier hopes of social mobility.