Beijing set to unveil ‘Made in China 2025’ 10-year plan

Beijing will soon unveil details of its “Made in China 2025” initiative, the first of three 10-year plans aimed at turning the nation into an advanced manufacturing powerhouse, the Beijing-based Economic Observer reports.

The State Council approved the “Made in China 2025” plan on March 25 and an expert close to the Ministry of Industry and Information Technology said the aim is to address the country’s lack of high-end technology in the manufacturing sector. According to the expert, the plan will be implemented through a series of projects and the establishment of innovation centers backed by universities and businesses. Continue reading

US loses edge as employment powerhouse

The US is losing its edge as an employment powerhouse, where most people have a job or are looking for one, after its labour participation rate fell behind the UK’s

The labour force participation rate – the proportion of adults who are either working or looking for work – started to decline in the US in 2000 and has plunged since 2008 from 66 to 63 per cent.

Economists have been surprised by the trends, not least because the US labour market has long been seen as one of the most resilient and flexible.

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