As China enters the lunar new year of the horse, social media buzzes with the phrases “cry cry horse” and “the kill line,” reflecting widespread economic anxieties. Despite official reports of 5% growth fueled by high-tech industries and exports, the broader job market is grim, especially for the record 12 million graduates of 2025. Many face declining salaries, layoffs, and fierce competition, with some resorting to gig economy jobs like delivery driving. The “cry cry horse” toy, accidentally made with a sad expression, has become a viral symbol of the tough year ahead, while “the kill line” metaphorically captures the precariousness felt by many young Chinese, drawing uneasy parallels with the struggles of Americans lacking social safety nets.

This economic malaise challenges the social contract underpinning the Communist Party’s legitimacy, which relied on continuous economic advancement to offset limited personal freedoms. With youth unemployment above 15%, widespread disillusionment, and the phenomenon of “neijuan” (economic involution) trapping workers in a cycle of intense competition and diminishing returns, prospects for prosperity appear bleak. While some graduates continue to strive or seek government jobs, many adopt a resigned “lying flat” attitude, foregoing ambitions. The government is expected to lower growth targets at the upcoming National People’s Congress, underscoring the difficult path ahead for China’s workforce and economy.