Diploma inflation describes a situation that more diplomas are issued in China while overall academic competitiveness of the degree holders is falling, just like the depreciation of currency during inflationary times.
“学历通胀”指拥有各类学位的人越来越多，但是其专业竞争力却日渐衰退的状况。这跟通货膨胀时期货币都会贬值是一个道理。

College diploma is a basic requirement if you want to find a job in China nowadays, no matter what kind of industry you are in. Even some labor-intensive industries would require a diploma from job applicants. As a result, many Bachelor’s and Master’s degree holders have to give up their academic pursuit and work as doorman, security guard, busboy, waiter/waitress, etc.
时下的中国，无论是哪行、哪业，找工作，张口就要大学文凭。就连一些最简单的劳动密集型行业，在招工时也把文凭放在首位。以致许多大学生在应聘时，不得不放下身段，去应聘那些与自己的所学毫不相干的职业。大学生门童、大学生保安、研究生服务员、研究生勤杂工等层出不穷。