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  • 13-06-06, 16:29
    aslan

    Unemployment in China to grow: WTO

    Posted online: Tuesday, April 25, 2006 at 0000 hrs IST
    NEW DELHI, April 24
    Unemployment in China, in certain sectors, is likely to increase owing to continued structural reforms, and over 100 million jobs need to be created over the next decade, according to a World Trade Organisation (WTO) report.
    The report on Chinese trade policies and practices said the government should accelerate its efforts to raise the quality of the labour force, in order to move away from the traditional, low-skilled and labour-intensive, industries to higher value-added production.
    It suggested that it might be necessary to reappraise the current policies to attract investment in export-oriented capital-intensive manufacturing, and to place greater emphasis on removing impediments to the expansion of the services sector. Other challenges outlined include bottlenecks in infrastructure and the continued need to restructure the financial sector and capital markets, by making them more market-oriented.
    China’s gradual economic reforms have opened up the economy to international trade and investment, and have made it one of the fastest growing in the world, with a nearly nine-fold increase in GDP per capita since 1978, the report said.


    Source: http://www.indianexpress.com/story/3101.html

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