Watch: China Hit By Worker Protests Over Unpaid Wages, Factory Shutdowns Amid Trump Tariffs
https://www.zerohedge.com/geopolitical/ ... mp-tariffs
The triple-digit tariffs could cause 6-9 million job losses. Current tariff levels could trigger 4-6 million layoffs, while if tariffs drop by a further 20% some 1.5-2.5 million jobs could be lost.
China is trying to mitigate manufacturing job losses with higher state investment in labour-absorbing public projects and by using the central bank to channel financial resources where new jobs could be created.
Earmarked 300 billion yuan (HK$328.12 billion) in ultra-long treasury bonds for consumer goods replacement this year, with a total of 162 billion yuan allocated in January and April.
Sales of trade-in related goods, including home appliances, furniture, and digital devices, have already exceeded 1.4 trillion yuan so far this year,
Meanwhile, Beijing has allocated 200 billion yuan in ultra-long treasury bonds to support a program of equipment upgrades.
About 173 billion yuan from the first batch have already been distributed across 16 sectors, covering roughly 7,500 projects, while a second tranche is currently undergoing project review and selection.
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