Version 1
: Received: 12 September 2024 / Approved: 12 September 2024 / Online: 12 September 2024 (07:57:02 CEST)
How to cite:
Zhang, J.; Liu, D. Unraveling Youth Indebtedness in China: A Case Study Based on “Debtors Avengers” Community on Douban. Preprints2024, 2024090977. https://doi.org/10.20944/preprints202409.0977.v1
Zhang, J.; Liu, D. Unraveling Youth Indebtedness in China: A Case Study Based on “Debtors Avengers” Community on Douban. Preprints 2024, 2024090977. https://doi.org/10.20944/preprints202409.0977.v1
Zhang, J.; Liu, D. Unraveling Youth Indebtedness in China: A Case Study Based on “Debtors Avengers” Community on Douban. Preprints2024, 2024090977. https://doi.org/10.20944/preprints202409.0977.v1
APA Style
Zhang, J., & Liu, D. (2024). Unraveling Youth Indebtedness in China: A Case Study Based on “Debtors Avengers” Community on Douban. Preprints. https://doi.org/10.20944/preprints202409.0977.v1
Chicago/Turabian Style
Zhang, J. and Dong Liu. 2024 "Unraveling Youth Indebtedness in China: A Case Study Based on “Debtors Avengers” Community on Douban" Preprints. https://doi.org/10.20944/preprints202409.0977.v1
Abstract
Over-indebtedness has become an increasingly serious problem among young people in China. Utilizing atlas.ti, a qualitative analysis software, this paper delves into the textual data of the online community named “Debtors Avengers” on on the Chinese website Douban.com. Employing a combined analytical framework of life cycle and credit liberalization hypotheses, the paper examines the underlying causes of youth indebtedness.
This study unveils three key findings: First, the escalating debt among young people is not merely a consequence of irrational consumer behaviors, fueled by rampant consumerism at an individual level. Rather, it is also intricately linked to their economic activities within specific life cycle phases. Second, from a structural risk perspective, youth indebtedness is not tied only to broad socio-economic risks, but is also a byproduct of the shift towards socio-financial digitization and the normalization of credit usage. Finally, the burgeoning issue of youth indebtedness stems from a confluence of factors. These include individual aspects such as distinct life situations in youth life stages, the probability of unexpected events, and a lack of financial literacy. Concurrently, youth indebtedness is influenced by the tenuous position of the youth in the labor market, risks associated with significant public safety occurrences, and a ‘spiral of indebtedness’ instigated by the digitalization of finance and the normalization of credit.
In light of the deepening integration of financial inclusion, it becomes imperative to refine financial policies, enhance financial education, and establish a framework for intervening against financial aggression. This approach is crucial in addressing and mitigating the challenges posed by youth indebtedness in this evolving economic landscape.
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
