China seeks to avoid mass layoffs while cutting production

By The New York Times

Mar 17, 2016

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China must avoid mass unemployment from failing mines and factories even as it cuts back on its vast production of unwanted coal and steel, Premier Li Keqiang said Wednesday.

Chinese leaders want to drastically reduce the surplus industrial capacity that is sapping China’s growth, while avoiding economic disruption and widespread layoffs that could lead to unrest.

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