China repeatedly denies the country’s alarming unemployment when many foreign businesses leave. Hong Kong Media has pointed out 3 erratic points that show the risks of lack of employment are not to be missed.
1. China threatens foreign companies not to evacuate
Some media USA reported Reform Commission and National Development China last week convened more than 10 technology companies abroad, asking them not to cooperate with the sanctions Huawei and do not withdraw capital from China, otherwise they will face “serious consequences”.
China threatens, the level of reduction of foreign investment in China cannot exceed China’s “actual demand level.” However, how to identify “actual needs”, the Chinese Communist Party (CCP) is still unclear.
During the decades of economic development of the CCP, foreign investment pouring capital into China has become one of the main factors that helped the country’s economy develop after the United States. Besides, foreign factories or joint-venture factories have helped China reduce a lot of pressure to deal with people’s underemployment.
However, since the start of last year’s tariff war, many foreign companies have evacuated, resulting in a large number of workers losing their jobs.
Earlier the media reported that foreign businesses have provided more than 45 million jobs in China, in addition, upstream and downstream businesses still rely on foreign investment to survive. If foreign companies withdraw from China, the number of affected people could be hundreds of millions.
2. The keyword “job search” has become a hot search term recently.
Search engines topped mainland China. Baidu statistics show that the frequency of searching for “job search” has reached the highest mark ever since April 2019, which indicates the number of people lost Industry has skyrocketed.
3. The CCP has established a “Job-seeking leadership group” led by the Deputy Prime Minister
The CCP has established the “Ministry of Foreign Affairs Job Search Group” led by Deputy Prime Minister Ho Xuan Hoa last month.
Chinese Prime Minister Li Keqiang bluntly stated that China will “face a complicated and difficult (finding a job) situation.”
Meanwhile, Mr. Ho Xuan Hoa stressed that it is necessary to maintain the situation so as not to cause “mass unemployment”.
The CCP officially declared, “Unemployment rate according to the national urban survey”. in April this year was 5%, China did not seem to be affected by the tariff trade war.
However, according to NTD, the CCP’s statistics are always ambiguous, and this unemployment figure does not really reflect the unemployment of the main labor force in China – the unemployment situation of unpaid labor. incense.
Since President Trump launched a tariff war, a large number of factories in China have closed, even the most prosperous business giants have reported massive layoffs. employees.