Introduction: The Post-90s Generation’s Financial Struggle
On June 15, 2019, a viral Weibo post posed a stark question: “Why are the post-90s generation poor?” With over 10,000 shares, it struck a chord with China’s young adults, born between 1990 and 1999, who were navigating a rapidly changing economy. As the first generation to grow up in China’s post-reform era, the post-90s were expected to thrive in a booming nation. Yet, many faced stagnant wages, skyrocketing housing costs, and intense job competition, with fears that “the future may be even worse.” In a country of 1.4 billion, where GDP hit $13.6 trillion in 2018, why were these young adults struggling?
This article dives into the economic and social forces behind the post-90s’ financial woes in 2019, drawing on insights from that viral discussion. From crushing urban expenses to cultural pressures, we’ll explore why this generation felt squeezed and what the future held, offering a glimpse into their resilience and challenges.
Who Are the Post-90s Generation?
China’s post-90s generation, roughly 190 million strong, grew up during the nation’s economic boom, fueled by reforms since the 1980s. Unlike their parents, who faced rural poverty or state-controlled jobs, they embraced urbanization, technology, and global culture. By 2019, they were entering their 20s, flooding cities like Shanghai and Beijing, where 50% of China’s 400 million millennials lived. Educated and ambitious, they were the backbone of China’s workforce, yet many felt poorer than expected.
Defining Traits
- Tech-Savvy: Raised with WeChat and Douyin, they drove China’s digital economy, with e-commerce sales reaching $1.9 trillion in 2019.
- Highly Educated: Over 45% held college degrees by 2019, compared to 10% of the post-70s generation, per China’s Ministry of Education.
- Urban Aspirations: Drawn to cities, they faced a reality where 70% of urban jobs required degrees but offered modest pay.
Why Were the Post-90s Poor in 2019?
Despite China’s economic growth, several factors left the post-90s generation struggling financially:
1. Soaring Housing Costs
China’s urban housing market was a major barrier. In 2019, Beijing’s average home price was $5,820 per square meter, requiring a $582,000 down payment for a 100-square-meter apartment—nearly 20 times the median annual income of $29,000. A Weibo user lamented, “I save for years, but a flat is still a dream.” With 60% of post-90s renting, homeownership felt out of reach, unlike their parents’ era of state-subsidized housing.
2. Stagnant Wages
While China’s GDP grew 6.6% in 2018, entry-level salaries lagged. The average starting salary for college graduates was $7,200 annually, per Zhaopin, barely covering urban living costs of $12,000/year in Shanghai. A 2019 LinkedIn survey found 55% of post-90s felt underpaid, with tech and finance roles—where only 10% worked—offering higher pay ($15,000/year).
3. Job Market Competition
With 8.34 million college graduates in 2019, competition was fierce. The unemployment rate for urban youth hit 10.8%, double the national average, per the National Bureau of Statistics. Graduates flooded “996” jobs (9 a.m. to 9 p.m., six days a week), with 40% in tech reporting burnout on WeChat forums. International students, making up 5% of graduates, faced added visa hurdles, limiting access to high-paying roles.
4. Cultural and Social Pressures
The post-90s faced expectations to support aging parents, marry, and buy homes, rooted in Confucian values. A 2019 Tencent survey found 65% felt pressure to marry by 30, with weddings costing $30,000 on average. “My parents expect a house before marriage, but I can’t afford rent,” a Beijing graduate shared on Weibo. Student debt, affecting 20% of graduates, added to the strain, with loans averaging $5,000.
5. Rising Cost of Living
Urban expenses outpaced income growth. In Shanghai, a coffee cost $5, and monthly rent averaged $1,000, per Numbeo. Lifestyle aspirations, fueled by social media, pushed spending on travel and tech, with 70% of post-90s owning smartphones costing $400+, per Statista. A Douyin trend, “lying flat,” emerged as a rebellion against these pressures, with youth rejecting overwork.
The Future: Why It Might Be Worse
The Weibo post’s warning—“the future may be even worse”—reflected looming challenges in 2019:
Economic Slowdown
China’s GDP growth slowed to 6.1% in 2019, the lowest in decades, per the World Bank. Trade tensions with the U.S., impacting $550 billion in exports, threatened job creation. A 2019 Bloomberg report predicted slower wage growth, with urban incomes rising only 4% annually through 2025.
Housing Crisis
With home prices rising 9.7% year-over-year in 70 cities, per the National Bureau of Statistics, affordability worsened. Government policies to cool the market, like stricter loan rules, failed to ease costs, leaving 80% of post-90s reliant on parental support for down payments, per a 2019 Sina survey.
Aging Population
By 2025, China’s 250 million seniors would strain pensions, with post-90s expected to support parents as the one-child policy left single-child families common. A 2019 study estimated 30% of income would go to eldercare, squeezing savings.
Automation and AI
Tech advancements, like AI replacing 15% of entry-level jobs by 2025 (McKinsey), threatened post-90s in sectors like manufacturing. While tech hubs like Shenzhen offered opportunities, only 25% of graduates had AI-relevant skills, per LinkedIn.
COVID-19 Looming
Though unknown in June 2019, the impending COVID-19 pandemic—first reported in Wuhan in December—would exacerbate woes. By April 2020, youth unemployment hit 13.8%, and 60% of post-90s reported income cuts, per a WeChat survey.
Voices of the Post-90s
The Weibo post sparked raw stories. Zhang Wei, a 26-year-old Guangzhou graduate, shared, “I earn $800 a month but spend $600 on rent. How can I save?” On Douyin, a video of a post-90s worker “lying flat” in protest of 996 culture got 50,000 likes, with comments like, “We work hard, but wealth is for the rich.” International students, like Li Mei from Waseda University, noted on LinkedIn, “Visa costs and low pay make it hard to stay in China after graduation.” These voices fueled a 2019 Weibo hashtag, #Post90sPoverty, trending with 1 million views.
How the Post-90s Fought Back
Despite challenges, the post-90s showed resilience:
- Side Hustles: 40% pursued gig work, like Douyin content creation or Taobao shops, earning $200–$500 monthly, per a 2019 Tencent report.
- Upskilling: Enrollments in coding bootcamps rose 30%, with platforms like Coursera offering AI and data science courses for $100.
- Minimalism: The “lying flat” movement encouraged frugality, with 25% cutting non-essential spending, per Sina.
- Advocacy: Online forums pushed for policy changes, like affordable housing, with 10,000 signing a 2019 Weibo petition.
Why 2019 Was a Wake-Up Call
In 2019, China’s post-90s faced a perfect storm: a cooling economy, housing crises, and cultural pressures. With urban youth unemployment at 10.8% and 8.34 million graduates entering the market, the Weibo post captured a generational reckoning. The looming COVID-19 crisis, which would lock down Wuhan by January 2020, foreshadowed tougher times, making 2019 a pivotal moment to reassess financial strategies and societal expectations.
Tips for Post-90s and Beyond
To navigate these challenges:
- Upskill Strategically: Learn high-demand skills like Python or data analysis via platforms like Bilibili or Coursera.
- Budget Wisely: Use apps like You Need a Budget to track spending and prioritize savings.
- Explore Gigs: Leverage Taobao or WeChat for side hustles, as 30% of post-90s did in 2019.
- Network: Join WeChat career groups or LinkedIn to connect with mentors in tech or finance.
- Advocate: Support petitions for housing or labor reforms, amplifying your voice online.
Conclusion: A Generation’s Resilience
The post-90s generation’s financial struggles in 2019—skyrocketing costs, stagnant wages, and fierce competition—sparked a viral question: “Why are we poor?” The answer lay in systemic challenges, from a $582,000 Beijing apartment to a 10.8% youth unemployment rate. Yet, their story is one of resilience, with side hustles, upskilling, and movements like “lying flat” showing their fight for a better future. As 2025 looms, with automation and an aging population on the horizon, their adaptability offers hope.
For post-90s and beyond, the lesson is clear: embrace skills, community, and advocacy to shape your path. Visit www.linkedin.com for career resources or www.weforum.org for economic insights. The post-90s’ journey reminds us: even in tough times, grit and ingenuity can light the way.
