Trade Turbulence: Chinese Worker Turned Farmer Amid Looming U.S. Tariffs
Chinese worker Liu Shengzun, displaced by U.S. tariffs, returns to farming after losing factory jobs. Despite recent tariff reductions, economic damage persists, with potential job losses threatening growth. Beijing attempts to counteract by boosting public project investment, reflecting concern over socio-political stability amid trade tensions.
In the face of escalating U.S. tariffs, Chinese worker Liu Shengzun has found himself back in the fields, forced out of factory jobs in the lighting and footwear sectors in Guangdong. As tariffs plunged dramatically this week, Liu, like many others, remains wary of the job market's fragility.
The de-escalation in the U.S.-China trade war, following Geneva talks, has curtailed the threat of mass layoffs. Policy advisors highlight that China's government is prioritizing social stability amid economic turbulence, even as firms grapple with lingering 30% tariffs and incoming hurdles to growth.
The Chinese government is responding with increased state investment in public projects and leveraging the central bank to stimulate job creation. However, experts remain skeptical about sustained employment revival, raising concerns over the unpredictability of U.S. policies exacerbating a potential deflationary spiral in the export-driven economy.
(With inputs from agencies.)
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