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Hannah Miao

👤 Speaker
77 total appearances

Appearances Over Time

Podcast Appearances

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And according to this case study that was published by the court, he had worked at this tech company for more than a decade.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And then last year, his company started using AI to do his job instead.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

It tried to move him to a different role with a 40% pay cut.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

He refused and he was fired.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And after that, he challenged his employer in arbitration, which turned into a lawsuit.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And ultimately, the Hangzhou court ruled in his favor and the company was forced to pay this man a sum of money for wrongful termination.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

That's right.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

We're hearing that companies in China are less willing than before to hire early career, inexperienced workers.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

This is really hitting that entry-level job market, similar to dynamics that we've seen happen in the U.S.,

WSJ What’s News
Can China Embrace AI Without the Job Losses?

We spoke to a startup founder in Guangzhou who said he created several AI agents earlier this year to do things like research, market research, user analysis, and scheduling.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And these are the exact sorts of roles that you might hire fresh college graduates for.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And he is using these agents instead of hiring.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

China has seen elevated youth unemployment for the last several years now.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And it's manifested in these sorts of movements like, quote, lying flat, which is something similar to the quiet quitting trend that we saw in the U.S.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

So this is an area that China has already been struggling with.

WSJ What’s News
Can China Embrace AI Without the Job Losses?

And AI appears to just be compounding this challenge for Beijing.

WSJ What’s News
Who Really Had It Worse: Boomers or Millennials?

We just received China's export data for March, which showed a 2.5% growth from the year earlier.

WSJ What’s News
Who Really Had It Worse: Boomers or Millennials?

And that was down sharply from a 22% increase for January and February.

WSJ What’s News
Who Really Had It Worse: Boomers or Millennials?

So this could be an early sign that the war in Iran is weighing on global demand, which could really threaten a key growth driver for China's economy, exports.

WSJ What’s News
Who Really Had It Worse: Boomers or Millennials?

That's right.