How China's Economy Bounced Back - The New York Times - 0 views
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Since it opened in March, when China was still in the grip of Covid-19, the factory has struggled to find enough machinery operators or quality control technicians. Now workers are flocking to Changmingzhen, a once-quiet farming town ringed with green mountains and rice paddies, from which young people once fled for better jobs elsewhere.
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But when China reports economic figures for 2020 on Monday, they are expected to show its economy grew despite losing early weeks to the lockdown.
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The slight 50-year-old said she received a rent-free apartment, free cafeteria meals and other benefits, as Laoganma competes with other companies for workers. The menu isn’t always to her liking, but that’s a small price to pay.
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China froze a $15 trillion economy last February. It used brute force to isolate cities and provinces and drag people into quarantine.AdvertisementContinue reading the main story
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Beijing has a harder time fixing other problems. Shoppers remain skittish, and may become more so as the virus has resurfaced in several cities lately. Its economy still relies less on innovation and services than on making stuff. Legions of college graduates still find satisfying jobs in short supply.
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The villagers in Changmingzhen may not agree. It is in southwestern China’s Guizhou Province, in a county that was so poor five years ago that it became a target for China’s antipoverty campaign.