Politics
Xi highlights jobs concerns in speech released ahead of US vote
(Bloomberg) — President Xi Jinping underscored the pressures facing China's jobs market in a newly released speech that depicted a period of turbulence for the world's No. 2 economy as officials try to halt slowing growth.
Most read on Bloomberg
China is entering a period where strategic opportunities as well as risks and challenges coexist, and unexpected factors emerge, Xi said in his speech released Thursday, making a veiled reference to tensions with the United States and the transition from his country towards growth based on real estate.
Pressure on stabilizing growth and jobs will persist, the top leader added, in comments published by the ruling Communist Party's Qiushi magazine, ahead of U.S. elections that could redefine relations between China with the United States. Donald Trump has pledged to impose 60% tariffs on his country's biggest economic rival if he is re-elected.
While Xi made the remarks during a Politburo study session in May, China's propaganda machine often releases his speeches months or even years later in order to signal policy priorities. Investors are currently closely watching any signals from senior leaders, looking for signs of what fiscal support a group of lawmakers will approve next week in the next stage of China's stimulus rollout.
This article indicates that the unemployment rate may become a more important policy target than before, said Zhiwei Zhang, chief economist at Pinpoint Asset Management. I think this makes the budget deficit more likely to exceed 3% next year.
China's labor market has been battered by a prolonged real estate crash that has strained local government finances and triggered the country's longest deflationary streak since 1999. Widespread wage cuts and layoffs across financial sectors to technology have been one of the biggest obstacles to consumption. It's an issue that U.S. Treasury Secretary Janet Yellen has called on leaders to address as Beijing faces a growing wave of overseas tariffs.
Improving job quality has become an urgent desire of workers, Xi said in his May speech, as public discontent grew over the sharp economic downturn. According to the Chinese leader, declining birth rates, an aging population and the digitalization of the economy are all contributing to worsening structural problems that hamper employment.
Xi pledged to make full employment a priority goal and youth employment the focus of discussions at the May meeting. The government has introduced measures in recent weeks to support groups facing employment difficulties, such as one-off cash grants to struggling residents and an expanded student grant and loan program.
China's State Council also said it would provide certain social security benefits to college graduates who have not found stable employment two years after leaving school. The country launched a similar initiative in 2020, when the pandemic first hit.
Most read from Bloomberg Businessweek
2024 Bloomberg LP
|
Sources 2/ https://www.yahoo.com/news/xi-highlights-employment-woes-speech-023141519.html The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
