China’s Millennials Are Risk Takers, and They’re Dreaming Big

Bloomberg Markets: “Meet China’s millennials — a generation that’s more risk-taking and idiosyncratic than its predecessor. And they’re dreaming big.”

“Having grown up in a booming economy that grew nine-fold since the turn of the century, China’s 7.5 million school leavers this year are intent on forging paths very different from their parents, who defaulted to the factory floor, construction site or staid state-sector job.”

“‘This is a good sign for the economy as it shows that they are finding new growth engines and the economy is getting more market-oriented,’ said Iris Pang, senior economist for Greater China at Natixis SA in Hong Kong. ‘But in the longer term, startup failure rates are very high, and those who take the risk should bear the risk.'”

Recently on Wonk Wire, a relevant contrast: Millennials Aren’t Big Spenders or Risk-Takers, and That’s Going to Reshape the Economy

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