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Economists post new year outlook for China's economy
(Xinhua)
Updated: 2009-01-05 19:47

Tan said a rise in oil price would be inevitable once the global economy improves. She warned people to be prepared for a sharp spike in oil prices in 2009, adding "it will drive up prices of cars and houses as well."

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The ongoing financial crisis has aroused much concern over job and salary cuts. The domestic employment market may be affected if some international companies are to reduce their presence in China, according to Zhang with NDRC.

"Large-scale job cuts will not take place if the governmental measures to stimulate domestic demand make its way," he said.

As to the prospect of the country's 10 million migrant workers returning to their rural hometowns jobless, Jin with MOC said they could find jobs again this year as large amount of workers will be needed in infrastructure constructions across the country.

Professor Zhao further suggested migrant workers to join skill trainings. "Mere labor may not be enough for companies going through technology upgrading," he said.


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