Mass Layoffs in China: Unemployment Surging as Companies Leave China

Mass Layoffs in China Unemployment Surging as Companies Leave China

Who knew one day China will lose its monopoly over the offshored business?

Back in the 1990s, Beijing established itself as the major hotspot for manufacturing capacity and cheap labor. That alone sent major companies into a frenzy- everyone wanted a piece of China’s supply chains and a workforce that doesn’t ask for much. At the same time, the Chinese government also pushed for major reforms to boost its local businesses.

And now, both Western and Chinese companies are leaving China- only to leave its workforce high, dry, and unemployed. The country is facing its homegrown problem of high unemployment rate. And matters are bound to get worse.

So, what’s happening in China?

In today’s video we look at Mass Layoffs in China Unemployment Surging as Companies Leave China

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