Another Think Tank Sees Slow Growth in 2016

SCMP: Top Chinese think tank warns of gloomy economic prospects for 2016
“China’s economy will face big downward pressures next year, and economic growth rate is likely to drop further,” the report said. GDP growth is forecast to come in at 6.9 per cent this year, the slowest since 1990.

...“Some hidden unemployment problems will float to the surface to intensify unemployment pressure, and it will be a threat to job stability next year,” according to the report.

While the booming e-commerce sector was creating new jobs such as parcel delivery positions, it was also destroying traditional jobs in retailing, it added.

The battle to clear up zombie companies, meanwhile, would be an uphill one due to “all kinds of difficulties”, including local government protectionism, the institute added.

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