Across Asia, there are youth protests — the issues which trouble Gen Z are corruption, elitism and censorship.
Gen Z looks at a bleak future, and these protests are early signs of the generation that feels hopeless. The prospects are gloomy. Jobs are in short supply. AI is affecting the future of Gen Z. The demographic dividend — having more productive youth than dependents — promised may itself become a cause for unrest.
Youth unemployment in Asia is greater than the national averages. The few jobs available are scarce, underpaid or are sacrificed at the altar of automation. The three most popular countries experience this paradox acutely — China, India and Indonesia. These have youth unemployment rates of 16.5 per cent, 17.6 per cent and 17.3 per cent respectively.
At some places the initial protests started as resentment of the perks enjoyed by parliamentarians, and later got converted into protests against inequality.
The two industries which generated good jobs were textiles and automobiles. These have been greatly automated. This happens while millions more are expected to join the labour market in the coming decade. A large number of graduating students too will enter the job market. The job market has already been disrupted by brutal trade war with the USA and the advances in the AI space.
Governments must think about reskilling the youngsters. At the same time, they should set up avenues for meaningful work. Education curriculum should focus on vocational training. and entrepreneurship. China is trying to enhance consumption. India is a fast-growing economy, but this pace of growth is not enough to generate jobs. Policy makers in the most populous countries will have to take redistributive measures. These could include subsidies and expansion of the public sector. Corruption and nepotism should be curbed.
Governments have to provide not only the jobs, but a future worth believing in.
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