"These loss-making companies remain operational largely due to local government interest to maintain employment. Banks too are reluctant to declare nonperforming loans, helping keep these enterprises online," says Dhar.
"More importantly, the structural increase in loss-making commodity production over the last few years underscores the need for systemic supply-side reform. We believe these changes are required sooner rather than later given the importance of productivity in China's transition to a services-based economy."
Weekly Initial Unemployment Claims Decrease to 210,000
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The DOL reported:
In the week ending March 23, the advance figure for *seasonally adjusted
initial claims was 210,000*, a decrease of 2,000 from the previo...
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