China to cut 10% of world’s workforce by 2020, invest 5%

China to cut 10% of world’s workforce by 2020, invest 5%

July 29, 2021 Comments Off on China to cut 10% of world’s workforce by 2020, invest 5% By admin

The world’s economy is facing a long-term, global labour shortage, according to the International Investment Community (IIIC), a global network of financial and industrial leaders.

China will slash 10% to 15% of its workforce by 2021 and invest 5 percent of its GDP in the global economy, the IIIC said in a report released on Monday.

This will be the biggest cut in its 20-year history, and the largest reduction since the end of World War II, when the III cut back its workforce to a level comparable to that of the 1960s, the group said.

China’s labour shortage is also putting the brakes on its economic growth.

The IIIC forecasts that China’s GDP growth will fall from 6.6% in 2019 to 4.9% in 2023, while job losses are projected to total 1.5 million.

China already has the world’s third-largest population, behind only the United States and the United Kingdom.

The country’s labour force is projected to fall by a quarter over the next 10 years, and will be even smaller by 2023.

China is facing the most severe labour shortage in the world, with a projected 8.7 million job losses by 2020 and 5.1 million by 2030, according the IIIs estimates.

China’s population will fall by 1.4 million over the same period, to 6.1 billion, and by 5 million in 2030.

“We’re seeing some big signs that China is in a labour crisis,” said the IIIG’s head of research, Michael J. Shum, who has previously worked at Goldman Sachs.

“It’s an increasingly difficult situation.”

The IIIC has been warning for years that China was running out of room to absorb its workforce, with many companies and government departments warning of the need to cut back on the number of people they employ.

In recent years, China has been investing more in infrastructure, particularly roads and bridges, and its labour force has grown faster than in the past.

The government has also increased its use of robots and automation, and is planning to increase its workforce from 1.1% in 2015 to 1.9%.

But the IIic is still concerned that China may not be able to meet its labour demand as it is now, as the country is not expanding its workforce rapidly enough to meet job growth.

For example, the Chinese economy grew by only 1.3% in 2020, compared with a 5.6%-per-year growth rate in the United Nations Economic Commission for Western Asia (ECOWAS), the group’s top adviser, Michael C. Hall.

But China is also expanding its technology sector, where its government is investing billions of dollars in new factories and factories in the country’s remote areas, according in a study released last month by the US think tank Brookings.

China has been the world leader in artificial intelligence, robotics and automation.

The Chinese government has created a massive AI machine learning unit and is developing a new type of computer that can make predictions about how the economy will change over time.

As of last year, China’s artificial intelligence sector had an annual growth rate of 7.2%, compared with 1.6%.

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