Money

Chinese women choose single life as economy struggles

Published

9 months ago

March 7, 2024

In a café nestled in the bustling city of Xian, freelance copywriter Chai Wanrou, 28, shares her views on marriage with conviction.

She’s among a growing number of young Chinese women who are choosing singledom, rejecting traditional societal expectations amidst economic uncertainty.

“Regardless of success or ordinariness, women still bear the brunt of sacrifices at home,” Chai Wanrou, a self-proclaimed feminist, expressed during an interview.

“Living my own life well is difficult enough nowadays,” she added, highlighting her disillusionment with the institution of marriage.

Chai’s sentiments echo a broader trend in China, where an increasing number of educated women are embracing “singleism,” rejecting the traditional trajectory of marriage and childbirth. This trend presents a challenge to the Chinese government, which has emphasised the importance of marriage and childbearing to address declining population rates.

Birth-friendly society

President Xi Jinping’s call for a “new culture of marriage and childbearing” and Premier Li Qiang’s pledge to create a “birth-friendly society” underscore the government’s concerns over demographic shifts. However, despite these efforts, the number of single individuals in China reached a record high of 239 million in 2021.

While marriage is still considered a significant milestone in Chinese society, the average age of first marriage has been steadily rising. Factors contributing to this shift include economic pressures, changing gender dynamics, and a perceived lack of suitable partners.

“Feminist activism is basically not allowed (in China), but refusing marriage and childbirth can be said to be … a form of non-violent disobedience towards the patriarchal state,” noted Lü Pin, a Chinese feminist activist based in the United States.

Online communities advocating for singleism have emerged, providing solidarity for individuals who reject traditional family structures. Social media platforms like Xiaohongshu and Douban host discussions on topics ranging from collective retirement plans to the challenges of finding compatible partners.

Self-exploration

For many women, the decision to remain single is rooted in a desire for self-exploration, frustration with patriarchal family dynamics, and difficulty finding partners who value autonomy and equality.

“There’s an oversupply of highly educated women and not enough highly educated men,” explained Xiaoling Shu, a sociology professor at the University of California, Davis. Gender imbalances resulting from China’s previous one-child policy have further exacerbated this issue.

While the number of people choosing singledom may not grow exponentially, delayed marriages and declining fertility rates pose long-term challenges to China’s demographic goals.

“In the long run, women’s enthusiasm for marriage and childbirth will only continue to decrease,” warned feminist Lü Pin. “I believe this is the most important long-term crisis that China will face.”

As more Chinese women assert their independence through personal choices, the government may need to reconsider its approach to family policies and gender equality to address evolving societal norms.

Money

Inflation report tests stock rally before Fed meeting

**Inflation report next week could impact stock rally; Fed rate cuts anticipated amid strong job growth and resilient economy.**

Published

24 hours ago

December 9, 2024

ticker NEWS

An upcoming inflation report will assess the strength of the U.S. stock market rally and influence the Federal Reserve’s rate cut strategy.

The S&P 500 has recorded its third consecutive weekly gain, increasing over 27% year-to-date.

This upward momentum in equities is influenced by expectations of additional Fed interest rate cuts amid a resilient economy.

Friday’s employment report indicated stronger than expected job growth, reinforcing this positive outlook. However, this data is not expected to change the Fed’s rate plans for its upcoming December meeting.

The consumer price index data due on Wednesday may alter this optimistic sentiment if inflation exceeds expectations, posing risks for well-performing stocks.

Experts note that if inflation rates are high, it could create uncertainty for investors before the Fed meeting.

Following the recent jobs report, the probability of the Fed cutting rates has increased, with nearly a 90% chance predicted for a 25 basis point cut.

The consumer price index is expected to rise by 2.7% over the past year.

If CPI results are higher than expected, it might prompt a cautious approach on future cuts, affecting outlooks for 2025.

Additionally, inflation concerns are heightened by the potential introduction of tariffs by President-elect Donald Trump.

Despite these factors, stock prices continue to rise, although there are warning signs of overly optimistic sentiment in the market.

Some analysts maintain a positive view on stocks heading into the year-end, citing a reduction in concerns surrounding the economy and interest rates.

Money

Stocks on the way to achieve three consecutive years of gains

S&P 500’s strong 2024 raises hopes, but concerns linger over AI sustainability and economic headwinds affecting future gains.

Published

1 day ago

December 8, 2024

ticker NEWS

The S&P 500 has risen 28% in 2024, poised for consecutive annual gains of over 20%.

Major banks forecast more modest returns for 2025, projecting the index reaching 6500, a 6.7% rise from approximately 6090.

Barclays has a more optimistic target of 6600, with Bank of America and Deutsche Bank expecting 6666 and 7000, respectively.

President-elect Donald Trump’s policies are seen as potentially beneficial for stocks, though high interest rates and geopolitical issues pose risks.

Investors remain cautious about the sustainability of the rally.

Economic conditions

Upcoming inflation data will be crucial for assessing economic conditions before the Federal Reserve’s anticipated rate cut in December.

Increasingly, small-cap stocks are joining the rally, with the Russell 2000 index nearing record highs.

More than 220 S&P stocks have hit 52-week highs recently, which indicates broader market strength, making it less susceptible to downturns.

The early market gains were largely driven by major tech stocks, which continue to perform well amid various challenges.

Long-term growth expectations, however, appear dim, with forecasts suggesting limited gains over the next decade.

Money

Trump appoints David Sacks as AI and crypto czar

Trump appoints David Sacks as White House AI and crypto czar, focusing on tech leadership and regulatory framework.

Published

3 days ago

December 6, 2024

ticker NEWS

David Sacks has been appointed by President-elect Donald Trump as the White House’s artificial intelligence and crypto czar.

Sacks, a former COO of PayPal, co-founded Craft Ventures and has invested in notable tech companies.

Trump made the announcement on Truth Social, emphasizing Sacks’ role in enhancing America’s leadership in AI and crypto, while protecting free speech and combating Big Tech censorship.

Sacks has previously supported Trump, hosting high-profile fundraisers and discussing political issues on his “All-In” podcast.

Critical of Trump

While he has made donations to various political figures across the spectrum, Sacks has been critical of Trump in the past, especially regarding the January 6 Capitol riot.

His appointment reflects Trump’s strategy of filling his administration with supporters from Silicon Valley and Wall Street who may favor less stringent tech regulations.

Sacks will be tasked with establishing a legal framework for cryptocurrencies in the U.S. and will head a presidential advisory council on science and technology.

This position is notable as the Biden administration has not designated a counterpart for crypto and AI.