Part 7/11:
The Chinese government’s recent policies have compounded public frustrations. Crackdowns on lucrative sectors such as education, technology, and finance have led to mass layoffs—over three million jobs lost in the education sector alone. These measures, ostensibly intended to reduce inequalities or curb excess, have instead created resentment and insecurity among the populace.
Adding insult to injury are scandals revealing nepotism and unfair advantages for the privileged—"nepo babies" with political connections easily advancing, while ordinary workers toil with little hope. Moreover, the retreat from embracing foreign investment and the rise of local, state-subsidized enterprises squeeze out foreign companies, further isolating China’s economy.