This week, China’s central bank announced a stimulus package designed to revive the economy, cutting an interest rate and reducing the amount of money banks need to hold in reserve.
But the country’s ongoing drive to upgrade its struggling economy has left millions of people facing job losses or pay cuts, fueling an existential crisis among some of its best and brightest workers.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Lulu Chen about the impact Xi Jinping’s push is having on professionals, from banking to tech, and what this anxiety could mean for the outlook of the world’s second-largest economy.
Read more: Web Hed for original article + Link
China’s CICC Demotes Senior Bankers, Cuts Pay to Slash Costs (https://www.bloomberg.com/news/articl...)
China Unleashes Stimulus Package to Revive Economy, Markets (https://www.bloomberg.com/news/articl...)
Further listening:
Why China’s Investment Bankers Are Breaking Up With Capitalism (https://podcasts.apple.com/us/podcast...)
What Does China’s Economic Slowdown Mean For the Communist Party? (https://podcasts.apple.com/us/podcast...)
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