Chinese markets will be closed from Oct. 1 to 7 for the National Day holidays.
China will stay in a recession youth unemployment at 20%. Automation and AI have displaced millions of jobs in China factories. It’s a vicious cycle where AI killing factory jobs so they have to give out stimulus checks to the poor in China but it’s not sustainable long term. China announces one-off cash handouts for those in extreme poverty
China’s government will offer cash subsidies to help citizens in need. While the amount is unknown, the move has been largely welcomed by the public amid a struggling economy Same happening in rest of world not just China..
Longshoremen’s Fight Against Automation Confronts an AI Future The strike of 50,000 is the latest effort to resist automation in defense of people’s jobs. BY KIT EATON @KITEATON SEP 30, 2024
A strike by dockworkers across the U.S. threatens to close ports on the East and Gulf coasts and seriously impact thousands, if not millions, of business supply chains, causing retailers to brace for potential shortages of some products and disappointed customers. This kind of disruption is the goal of strikes, of course, but the longshoremen’s major demand, beyond higher wages, is quite startling. As the New York Post put it, the workers’ union is demanding a “total ban on automation,” and is holding the industry hostage for what analysis firm J.P. Morgan estimates as a $5 billion a day impact to the economy.
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