www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Industries

Job losses unfortunate but necessary

(Xinhua) Updated: 2016-03-02 11:11

Job losses unfortunate but necessary

Workers at a steel factory in Dalian, Liaoning province. [Photo/China Daily]

BEIJING - Redundancies are inherently painful for those losing their jobs, their families and society at large, but for industries weighed down by overcapacity, it is a transition that could not happen soon enough.

In industries such as coal and steel, change is imperative as the current model is unsustainable. The production of steel is no longer tethered to market demand and it is now is more than double the combined production of the next four leading industries.

The result is destructive, prices are in free fall and mills stand ghostly quiet as operating losses have grounded production to a halt. Employees, in spite of keeping their jobs, may receive meager salaries but have little assurance that next month's pay packet will arrive. What light there may be at the end of the tunnel seems to dim every day.

It is against this background that China expects a wave of job losses in industries struggling with overcapacity -- 1.8 million in coal and steel, according to the Ministry of Human Resources and Social Security.

China has promised to let the market play the decisive role in the economy, and the market has spoken. Take financing for example, defaults have scared investors from purchasing bonds from these industries and commercial banks are decreasing exposure.

The consensus is that from a business perspective, these industries are simply no longer viable and it is the market -- rather than the government -- that is the ultimate force behind the closure of coal mines and steel mills.

To brace for the fallout the government plans to allocate 100 billion yuan ($15.4 billion) over two years to help those that lose their jobs.

For well-seasoned observers, China has always strived to ensure the harmony and stability of its workforce, especially around the key annual legislative sessions, which convene this week. The fact that more than one minister has spoken publicly about the expected job losses ahead of these meetings is evidence that the government is not avoiding the subject, but rather tackling it head on.

The government's commitment to addressing overcapacity also chimes with its economic reform agenda, notably the shift to supply-side reform, which Beijing has made its top economic priority. The supply gluts in steel and coal are remnants of an era when growth was driven by low-end manufacturing. As China strives to elevate its economic growth model, job losses will be an unfortunate but necessary side effect.

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 久久九九热视频 | 99www综合久久爱com | 国产喷水女王在线播放 | 亚洲黄色免费观看 | 99精品视频在线播放2 | 日本国产欧美 | 亚洲国产精选 | 亚洲免费人成在线视频观看 | 国产在线一区二区三区 | 日韩在线播放中文字幕 | 色日韩| 国产亚洲欧美日韩在线观看一区二区 | 成人精品综合免费视频 | 亚洲国产成人精品一区二区三区 | 国产伦精一区二区三区 | 窝窝午夜精品一区二区 | 亚洲欧美精品久久 | 亚洲香蕉一区二区三区在线观看 | 国产精品视频自拍 | 日本男人的天堂 | 国产91香蕉视频 | 国内自拍区 | 亚洲综合色就色手机在线观看 | 亚洲天堂久久新 | 57pao强力打造手机版 | 国产美女精品视频免费观看 | 一级女性全黄久久生活片免费 | 步兵精品手机在线观看 | 波多野结衣中文在线播放 | 欧美在线播放成人a | 亚洲第一成年免费网站 | 亚洲欧美日韩在线不卡中文 | 久久精品综合免费观看 | 国内久久久 | 国产美女白丝袜精品_a不卡 | 亚洲精品国产三级在线观看 | 玖草资源在线 | 亚洲女人在线 | 一级成人a做片免费 | 国产情侣真实露脸在线最新 | 欧美乱一级在线观看 |