Note: Inbound arrivals have surged while Japanese departures remain below 2019.

Note: Nearly half of urban China now works without a permanent contract and on-demand hiring dominates factory floors at peak season.

Note: China's migrant workforce is aging fast and barely growing, undercutting the labor base a consumption economy needs.

Note: Fiscal exposure widened as KKM liabilities grew and investors priced the risk through 2023

Note: Rates fell as inflation climbed, then reversed once orthodoxy returned in 2023

Note: Scale can move a tool along this line faster than it can move it toward the questioning end.

note: A correct answer on a familiar question proves the step was climbed, not that the climb continues on its own.