An economic slowdown in China is posing challenges for national employment, an economic researcher in the country's top executive body said Thursday.
China's economic slowdown is creating some difficulties for national employment, an economic researcher in the country's top executive body said Thursday.
For Beijing, keeping a handle on employment is critical to maintaining control over a massive country of more than a billion people. Widespread job losses could lead to undesirable social unrest. Zhang's on-the-record comments on Thursday provided greater insight into how severe unemployment issues might be, at least in labor-intensive industries.
"Many of these companies think they have done what they can do before November and they are not planning to organize further production after that," he said.Tensions between the world's two largest economies escalated last year as both applied tariffs on billions of dollars worth of goods from the other country. The southern province of Guangdong was particularly affected due to its greater exposure to manufacturing and other export-oriented business.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The world's largest shipping firm says profits 'must improve' in 2019, shares dive 9%Danish shipping group A.P. Moller-Maersk reported fourth-quarter earnings in line with expectations on Thursday, but warned a long-running trade conflict between the world's two largest economies could hamper growth in 2019.
Read more »
Treasury yields move higher on US-China trade deal hopesU.S. government debt prices moved lower Thursday, amid reports the U.S. and China have begun outlining a deal to end their protracted trade war.
Read more »
A Majority Of Canadians Think The US And China Will Attempt To Influence Their Next ElectionA new poll also shows Canadians have little or no confidence that social media companies can prevent foreign entities from interfering in the election.
Read more »