Photographer: Guang Niu/Getty Images

China Steel Plan Seen Spurring 400,000 Job Cuts, Instability

Updated on
  • Metal industry leader says firings 'threaten social stability'
  • China will raise funds to help dismissed workers, Xinhua says

China’s plan to slash crude steel production capacity could eliminate 400,000 jobs and may fuel social instability, according to the state-run metals industry consultancy.

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