China Paints A Rosy Picture, But Tens Of Millions Could Be Unemployed

The transcript discusses the disparity between international observers' estimates and the Chinese government's reported unemployment rates amid the COVID-19 pandemic. Observers suggest unemployment could be as high as 20%, while the government reports around 6%. The reopening of Shanghai Disneyland is highlighted as a sign of economic recovery, despite new COVID-19 cases in Wuhan. Zhongtai Securities estimates a 20.5% jobless rate, while only 2.3 million applied for unemployment benefits. The transcript concludes with skepticism about the accuracy of official figures.

What is the estimated unemployment rate in China according to international observers?

• 15%

• 6%

• 10%

• 20%

How does the Chinese government portray the unemployment situation?

• As a non-issue with no unemployment

• As a minor issue with 10% unemployment

• As a crisis with over 20% unemployment

• As a manageable issue with around 6% unemployment

What significant event took place in China as part of its coronavirus management efforts?

• Suspension of all economic activities

• Complete lockdown of Wuhan

• Reopening of Shanghai Disneyland

• Closure of all public places

What is the estimated number of unemployed or underemployed people in China according to a Wall Street hedge fund economist?

• 50 million

• 200 million

• 100 million

• 70 million

How many people applied for unemployment benefits in China in the first quarter of 2020?

• 5 million

• 2.3 million

• 10 million

• 1 million