News Analysis
Amid a bleak economy, young Chinese struggling to find jobs have fallen victim to scammers.
In one example, a teenager with a mental disability was allegedly manipulated into getting an expensive breast augmentation surgery so he could become an influencer.
The woman accused the clinic of misleading her son by telling him that he could “make money through live streaming” after the surgery, according to the video.
“When our family heard the news, we were shocked and devastated, feeling as though the sky was falling,” she said in the video.
However, Ding was allegedly deceived into renting an electric bike for a year through installment payments.
When he discovered that his earnings from deliveries were insufficient to cover the bike rental fees, he decided to terminate the contract early, only to be hit with bills for repair costs due to alleged damage to the bike.
“It was then that I realized their so-called high-paying delivery job was just a scheme to force applicants into renting electric bikes at exorbitant rates,” he told the publication.
Such incidents have sparked widespread outrage among Chinese netizens.
Rising Youth Unemployment
Official data show the youth unemployment rate increased from 13.2 percent in June to 17.1 percent in July, the highest level this year. The age range is set between 16 and 24.
However, it is difficult to assess the true scale of the situation because the data from China’s National Bureau of Statistics (NBS) only account for urban areas.
This closely watched indicator reached a historic high of 21.3 percent in June 2023. Since then, the Chinese Communist Party (CCP) has adjusted the calculation method to exclude full-time students from the youth unemployment rate.
‘Pig Butchering’
The rising number of scams targeting students and recent graduates, coupled with bleak job prospects, has driven some young people to become scammers themselves.
The scheme involves scammers establishing a trusting relationship with victims, called “pigs,” before convincing them to invest in fraudulent cryptocurrency ventures.
Once the investment is made, the scammers cut off communication and disappear with the victims’ money, a move described as “butchering the pig.” Criminals engaging in this type of scam often use dating apps and social media platforms to find their targets.
Many of the scammers involved in pig butchering are victims themselves, predominantly from China and Southeast Asia.
Source link
Add comment