CHINA AIMING TO MAKE AT LEAST 5MILLION REDUNDANCIES

Officials in China are drawing up plans to axe between five and six million jobs over the next three years in a bid to curb oversupply problems and pollution, Reuters news agency reports.




The cooling towers at a Shougang Group steel plant on the outskirts of Beijing, as reports suggest millions of Chinese workers may be laid off in the next three years Credit: Reuters
Citing sources with ties to the country's leadership, the workers would be laid off in industries suffering from overcapacity, in what would be the country's biggest restructure in public spending in almost two decades.
It comes after the minister for human resources, Yin Weimin, said 1.8 million workers would be made redundant from the coal and steel industries.

Between 1998 and 2003, China made around 28 million workers redundant from state-owned enterprises, costing the government around 73.1 billion yuan (£8bn) in resettlement payouts.

The ministry for industry has not yet commented on the reports.

http://www.itv.com/news/update/2016-03-01/china-aiming-to-make-at-least-5m-redundancies/


Bloody Hell!

That's going to cause massive problems!

It will have an impact on the whole world.  Osborne has been trying to make up closer to China, even though he was told the bubble was about to burst.

Yes, worldwide reverberations. Wonder what will happen

Anyone's guess at this stage, but we have just let our steel industry go down the pan and now China is cutting back on steel production.

quick, buy your cheap chinese crap before the prices rise

The pound shops will become two-pound shops.

What about tea? Bet that goes up.

Eddie, help please.

Some of my posts have gone awol, is there a prob? Thanks.

Come on - who's pinched Stormee's posts? Own up.

Didge has just told me how to find posts, Thank you Didge.

One is deffo missing from here about my Chinky mate and friend dying.
Plus jiveassing about chinkiz going up.

Storm I haven't moderated this thread or any of your posts? Not sure if another admin has?
If it were me I'd have posted and said so.

Think Veya and Ben have been online - ask them perhaps?

eddie wrote:Storm I haven't moderated this thread or any of your posts? Not sure if another admin has?

If it were me I'd have posted and said so.

Think Veya and Ben have been online - ask them perhaps?

Thank you for your reply.

I ask Veya and Ben the same, can you help me?

Thank you.

Stormee, perhaps you didn't send the post. I didn't see it.

Raggamuffin wrote:Stormee, perhaps you didn't send the post. I didn't see it.

There has been more than one Miss Ragga.

I could have messed things up, I don't always post in the correct place.
Maybe an age thingylol lol

If I come across a random post about Chinese meals or whatever, I'll let you know

Start looking for more products labeled "Made In" Kenya (especially) along with Mexico, Colombia, Malaysia and Indonesia. They'll jump in once Chinese manufacturing falters.

Regarding the tea question, it looks like India is rapidly catching up with China, and I bet the product is much better as well. Kenya is also ramping up tea production. Japan and Vietnam could also get in on the action, though obviously they're limited by having hardly any land for it compared to India and China, or even Kenya for that matter.

I think tea from India is more popular in the UK anyway.

I like most teas from anywhere but I am partial to Chinese teas - especially Lapsong tea