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Li, 27, is part of a growing base of Chinese workers swapping high-pressure office jobs for flexible blue-collar work. But these firms are slowly losing their appeal as China’s economy faces headwinds including a property crisis, declining foreign investment and slumping consumption. The trend to move from professional to manual jobs comes amid surging demand for blue-collar workers, according to Chinese recruitment platform Zhaopin. And blue-collar workers’ pay has also gone up, attracting more people to jobs they might have previously avoided. Pressure of another kindBut some wonder if blue-collar work is truly the stress-free refuge people like Li and Wang imagine it to be.
Persons: Hong Kong CNN — Leon Li, , Li, , Alice Wang, Wang, , Larry Hu, Zhang Yuxiao, David Goodman, commenter Organizations: Hong Kong CNN, CNN, National Bureau of Statistics, Workers, NBS, University of Sydney’s China Studies Centre Locations: China, Hong Kong, Hangzhou, Chengdu, , Macquarie, Shanghai
Australian Treasurer Jim Chalmers has ordered several China-linked investors to dispose of shares in rare earths miner Northern Minerals on national interest grounds, a spokesperson said on Monday. Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia, at a time when the sector has become increasingly strategic for its uses in green energy and defence. Yuxiao Fund is the Singapore-registered private investment vehicle of Chinese national Wu Yuxiao, Reuters has previously reported. "The decision, based on advice from the Foreign Investment Review Board, is designed to protect our national interest and ensure compliance with our foreign investment framework." Chinese Foreign Minister Wang Yi said on a visit in March that he hoped Australia would ensure its market environment did not discriminate against Chinese business.
Persons: Jim Chalmers, Chalmers, Yuxiao, Wu Yuxiao, Adam Handley, Wu Tao, Ximei Liu, Xi Wang, Nick Curtis, Curtis, Premier Li Qiang, Wang Yi Organizations: Minerals, Northern Minerals, Browns, Sunday, Reuters, Investment, Board, Jinan Yuxiao Group, Stone Resources, Foreign Investment, China, Northern, Premier Locations: China, Western Australia, Yuxiao, Singapore, Jinan, Northern, Australia, Canberra, Beijing
AdvertisementAdvertisementThere's been a clear winner in the global EV race so far: China. Ford CEO Jim Farley announcing its Michigan EV battery plant in February. Bill Pugliano/Getty ImagesConcern about using Chinese battery technology reflects wider global concern about China's domination of the EV battery market, with governments starting to block Chinese investment into mines and factories. AdvertisementAdvertisementAustralia is the world's biggest producer of lithium, a key material for EV batteries, and a major producer of other rare earths. AdvertisementAdvertisementChina may have led the world in the EV race – but those days could well be numbered.
Persons: , Bill Russo, Chrysler's, CATL, Ariel Cohen, there's, Shawn Fain, Ford, Jim Farley, Bill Pugliano, Jim Chalmers, Cohen, Morgan Stanley, Mazzocco, Bernstein, he's, Biden, it's, Ursula von der, Donald Trump Organizations: EV, European Union, Service, Economic, Financial, Ford, Council's Eurasia Center, of Foreign Relations, UAW, Reuters, Michigan EV, Minerals, Publishing, Center for Strategic, International Studies, South, Japan's Panasonic, European, Benz, Bloomberg, White Locations: China, America, Europe, South Korea, Michigan, Australia, India, Nanjing, Washington ,, Hungary
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