China could face job cuts amidst trade wars

Chinese SMEs are hit by slumping new orders and job losses.

China could lose as many as three million jobs if the country does not act on any countermeasures for the next round of tariffs by the US, JP Morgan said.

The job cuts, however, could be reduced to just about 700,000 should China impose retaliatory tariffs paired with a 5% depreciation in their currency value.

"As (multinational corporations) readjust their supply chains for exports to the US market to production hubs outside of China, Chinese (small and medium-sized enterprises) are facing weakening new manufacturing orders and job losses," IHS Markit Asia Pacific chief economist Rajiv Biswas told CNBC.

Biswas thinks that products such as mobile phones and smartwatches and other wearable devices could be targeted in the next round.

Before the latest round of tariffs, the US and China have already posed tariffs to US$50b worth of their bilateral goods.

Here’s more from CNBC.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia