Despite President Trump’s claims that U.S. tariffs are putting millions out of work in China, economists say the country's labor market is mostly stable—at least for now
ZHUHAI, China—President Trump says U.S. tariffs are battering the Chinese economy, throwing millions of Chinese workers out of jobs—and pressuring the country’s president, Xi Jinping, to strike a trade deal.
The reality is more nuanced. It is clear that China, after decades of rapid development, is grappling with a slowing growth pace and weaker sentiment among businesses and consumers. The country’s official measure of urban unemployment was near a record in August.As the U.S.-China trade fight continues to escalate following another round of tariffs from the U.S. and retaliatory moves from Beijing, WSJ’s Gerald F. Seib takes a look at potential next steps in the negotiations.
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