China’s official unemployment rate has been poorly reported as does not take into account nearly 300 million migrant workers, according to Liu Kaiming, head of the Shenzhen-based Institute of Contemporary Observation. Illustration: Perry Tse

China’s small businesses forced to cut back on staff just to survive as economic mood sours amid trade war

  • President Xi Jinping warned in January about a need to pay particular attention to the risks to social stability during the current economic slowdown
  • China’s mood had changed very quickly from a rapid expansion of consumer spending last year to a cautious ‘consumption downgrade’
Topic |   China economy
China’s official unemployment rate has been poorly reported as does not take into account nearly 300 million migrant workers, according to Liu Kaiming, head of the Shenzhen-based Institute of Contemporary Observation. Illustration: Perry Tse
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