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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 374.22-0.2%Nov 21 4:00 PM EST
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To: Arran Yuan who wrote (116742)3/1/2016 11:30:01 PM
From: elmatador  Read Replies (1) of 217917
 
to curb industrial overcapacity
China to lay off five to six million workers, earmarks at least $23 billion

obsessed with maintaining stability and making sure redundancies do not lead to unrest, will spend nearly 150 billion yuan ($23 billion) to cover layoffs in just the coal and steel sectors in the next 2-3 years.

local governments are not expected to gain access to the worker lay-off funds until the zombie firms have actually been shut down and debt issues settled.


http://uk.reuters.com/article/us-china-economy-layoffs-exclusive-idUKKCN0W33DS
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