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.

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