Although China is claiming success in its battle against the coronavirus, millions have lost their jobs in the economic fallout, throwing into ...
BEIJING: Although China is claiming success in its battle against the coronavirus, millions have lost their jobs in the economic fallout, throwing into jeopardy an ambitious target to eradicate poverty this year.
A slowing economy puts pressure on a key Communist Party goal to become a"moderately prosperous society" by the end of 2020, an ambition in place long before the virus emerged. Data firm Caixin said its services purchasing managers' index, a key indicator of activity in the services sector, showed companies cut staff at the quickest pace on record in March.
This growing unemployment will be a major blow to consumption - a key driver of China's growth, said Louis Kuijs of Oxford Economics.One worker in construction management surnamed Zhao, 28, told AFP his employer stopped paying salaries in February. Some firms have taken dramatic measures to stay solvent, including paying just a minimal living allowance.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
African community targeted in China COVID-19 crackdownAfricans in southern China's largest city say they have become targets of suspicion and subjected to forced evictions, arbitrary quarantines and ...
Read more »
Coronavirus: China is not safe while Covid-19 continues to spread around the world, experts sayChina’s top epidemiologists have warned that the country may not yet be out of the woods with regards to the coronavirus pandemic and that the responses of the United States and Europe to the global health crisis will be pivotal to how it unfolds.Covid-19, the disease caused by the pathogen, is unlikely
Read more »
China reports 99 new COVID-19 cases, a jump from previous dayMainland China reported 99 new confirmed coronavirus cases on April 11, including 97 involving travelers from overseas, up from a total of 46 new ...
Read more »
China firmly opposes US action against China Telecom: Foreign ministryBEIJING (REUTERS) - China's foreign ministry said on Friday (April 10) that Beijing is opposed to any action by the United States to revoke China Telecom's authorisation to provide international telecommunications to and from the United States.. Read more at straitstimes.com.
Read more »
Coronavirus: Rising unemployment from virus fight threatens China's poverty targetsBEIJING (AFP) - Although China is claiming success in its battle against the coronavirus, millions have lost their jobs in the economic fallout, throwing into jeopardy an ambitious target to eradicate poverty this year.. Read more at straitstimes.com.
Read more »
Wuhan rent protest shows unrest brewing in China after lockdownDOZENS of small shop owners protested outside one of Wuhan's biggest shopping malls to demand a cut in rent, in one of the first signs of unrest since authorities lifted a lockdown at the epicentre of the coronavirus outbreak. Read more at The Business Times.
Read more »