China steelmaker to cut up to 50,000 jobs

[sweetgrape]

I did already said what will follow in my previous post.....further slowing of Chinese economy and more job cuts

Chinese economy growth will slow down, it is not big deal to expect this, as Job cuts, hehe, what you focus on is just this superficial phenomenon, that's you can do.

in China tradition industry, no doubt that, especially state owned company, there will more job cuts, I have said, we reach the stage that you india don't, it is must and inevitable thing, don't know whether you can understand it, these job disappear, but in other industry, more job will emerge, this is job transfer, or say market optimization

Yeah, this is cruel, in the market no mercy.

I don't know what sources you are quoting. If it is Chinese government sources that I will take with a bag of salt. It is simple logic...when GDP growth comes down...the over all Industrial production comes down too (because GDP is the cumulative value of all the products and services sold in an economy)...when Industries are doing not so good, the first thing companies do is to cut costs...the easiest way to cut costs is bring down the head count.

The number of 50 000 jobs also from China government, so how much salt will you take?

Yeah, you just concerning on industy, whether you noticing the service sector? In India, the job of service sector are much more than secondary industry(industry), let alone the developed countries.

 

[Edison Chen]

very good news

 

[Dungeness]

China sets up 100 billion yuan fund to cover layoffs in coal, steel sectors - The Economic Times

 

[Nan Yang]

I can't speak for China, but "they" have been predicting the American collapse for as long as I've been alive. Hasn't happened.

"Hasn't happened." ?
He he he. People have short memory.

Financial crisis of 2007–08 - Wikipedia, the free encyclopedia

 

[Desertfalcon]

"Hasn't happened." ?
He he he. People have short memory.

Financial crisis of 2007–08 - Wikipedia, the free encyclopedia

And yet, no "collapse".

 

[S10]

There is a severe overproduction of steel in China. It's not limited to the steel sector, but it's one of the mots prominent. The market is way too saturated for it, so a lot of factories are going to shut down for certain. As the world's factory, China economic fate is tied to how much demand the rest of the world has. Right now, global growth is extremely weak to say the least. You won't see a strong bounce in China's growth rate for the near future.