Computational Social Sciences Workshop: Risk Reallocation, Financialization, and Household Debt in China

Debt has been mounting across all sectors in China, including government, corporate, and household debt. This talk focuses on the issue of household debt against the backdrop of financialization, economic downturns, and labor market instability. To examine this issue, I propose a theoretical framework called social risk reallocation theory, which captures the growing trend of social risks being increasingly shifted from the state/government and the market/corporations onto the shoulders of ordinary citizens and workers. These social risks include uncertainties and costs related to education, employment, healthcare, and old-age pensions. The accumulation of debt by individuals and households is a response to—and a result of—this risk reallocation process. Drawing on multiple data sources—including government statistics, national survey datasets, a survey of past-due debtors, proprietary company data, and in-depth interviews—I present preliminary findings on household debt trends, composition, distribution across social groups, and the social and psychological consequences of indebtedness. I also explore how individuals trapped in deep debt perceive and navigate their circumstances. The consequences of indebtedness are further complicated by factors such as familism, social networks, debt collection practices, and the broader financial ecosystem. The talk concludes with a discussion of the policy implications of this research project.

For participants who have registered and attended the workshop, Smart Point / CS will be given as “Knowledge Integration”.

Please note the following guidelines of Smart Point scheme:

1. Students who attend the WHOLE activity and arrive ON TIME will be given one Smart Point;
2. Students who arrive late or leave early within 10 minutes will be given only half a Smart Point;
3. Students who arrive late or leave early over 10 minutes will NOT be given any Smart Point;
4. Students who leave the venue during the activity for over 15 minutes will NOT be given any Smart Point;
5. Students are required to check in/out of the activity with Student ID Card. For those who do not respect the activity or neglect the staff’s guidance, SAO reserves the right to cancel his/her Smart Point;
6. For those who do not respect the activity or ignore the staff’s guidance, Student Affairs Office (SAO) reserves the right to cancel his/her Smart Point. SAO also reserves the right to interpret and process the Smart Point scheme.

Enquiry：8822 8976 or fss.enquiry@um.edu.mo