US EditionBeneath China's resilient economy, a life of pay cuts and side hustles
CHINA, JUL 16 – Despite 5.2% growth in Q2, wage cuts and rising payment arrears in key sectors force many Chinese workers to take side jobs or face unemployment, experts say.
- China’s economy expanded by 5.2% in the April-June period, though signs of instability in wages and payment delays are emerging across various industries.
- Liquidity stress and wage cuts arise because authorities prioritize industrial output over domestic demand, worsening employment conditions.
- Workers like Zhang Jinming and Frank Huang face salary reductions and delayed payments, forcing them to take side jobs or rely on family support.
- Arrears in key sectors rose by 16.6% in electronics and 11.2% in autos, while overdue water and gas payments increased by over 11%, indicating rising financial strain.
- Economists warn that if Beijing fails to boost household consumption or redirect support to domestic sectors, economic growth may slow in the second half of the year.
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13 Articles
13 Articles
China struggles with low purchasing power and payment difficulties. Experts call for measures to reduce deflationary pressure and prevent salary cuts.
·Berlin, Germany
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Beneath China's resilient economy, a life of pay cuts and side hustles
Chinese state firm employee Zhang Jinming makes up for a 24% cut to his salary by delivering food for three hours every night after work and on weekends - and hopes he can avoid awkward encounters with colleagues.
·United Kingdom
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Lack of demand is putting pressure on profits and fueling deflation in the country, despite rising exports in the quarter
·Brazil
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Total News Sources13
Leaning Left2Leaning Right1Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 22%
C 67%
11%
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