Asia's Gen Z is losing out to China's $1-trn surplus

CHINA'S NEW ECONOMIC model is putting the future of Asia's Gen Z at risk.

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The continent is home to some of the world's most trade-oriented economies and rode globalisation to lift the lives and livelihoods of hundreds of millions. But it's now being hit by a double whammy: an export base that has come under growing pressure from a flood of cheap goods from China, unquestionably the dominant power in the region, and US President Donald Trump's trade war.

It's frustrating a generation already struggling because of stagnant wages and soaring living costs. They're having to face the reality that the manufacturing jobs that powered prosperity for their parents are becoming harder to find, even as the white-collar ladder is increasingly crowded for university graduates, too.

China has doubled down on manufacturing to sustain growth as domestic demand stalls and the property sector continues to drag. The annual trade surplus is now more than $1 trillion, despite a deepening plunge in shipments to the US.Exports are swamping neighbouring economies and stirring resentment abroad. French President Emmanuel Macron has warned that the European Union may take strong measures if Beijing fails to address the imbalance.