Details
👷 China under the microscope: From IT to solar, jobs are shrinking. Alibaba has cut about 25 % of its workforce since 2023, and the five largest PV manufacturers have eliminated 87,000 positions. Together, this signals the end of a decades-long hiring boom.🔋 Solar bubble bursts: Overcapacity has doubled global supply and halved module prices. Beijing is urging provinces to shutter production lines running below 30 % capacity and has financed a CNY 50 billion fund to close failing plants.💻 AI goes global: According to the World Economic Forum, 90 % of companies view AI as their central transformation driver. Office and routine roles are fading, while data and robotics positions are growing at double-digit rates.🌐 Global chain reaction: Tech layoffs in the US and Europe, cutbacks in South Korea’s chip fabs, and service-provider downsizing in India show automation squeezing labor markets everywhere—and intensifying competition for AI talent.
Why It Matters
- Social stability at risk: Massive job cuts in China’s leading industries affect millions of young workers and test Beijing’s promise of shared prosperity.
- Emerging skills gap: AI-driven productivity gains demand reskilling worldwide; failure to adapt workforces threatens growth.
- Investor warning: Price collapses, overcapacity, and state interventions reveal the limits of subsidy models—crucial indicators for risk assessments in green and digital markets.
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
