IPFS News Link • China
The number of people who need to be laid off in China is staggering
• http://www.businessinsider.com, Linette LopezThat means Wall Street analysts are also trying to figure out how much it's going to take to get the job done.
Spoiler alert: It's going to take a lot.
How much is probably something we're going to be arguing about for the next few years. There is some agreement on one thing, though — what has been announced isn't even close.
The government has already announced that the coal and steel sectors alone will fire 1.8 million people, costing it about $15 billion. Anonymous officials told Reuters that 5 to 6 million people would likely be laid off over the next few years.