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China's Hua Hong invests $2B in new Wuxi fab to meet AI chip demand
South China Morning PostLO·CN · US·3 days ago
AI adoption in China is displacing white-collar analysts, as firms like corporate advisory companies reduce headcount due to AI capabilities. Displaced workers are reportedly forced into low-paid manual roles, signaling a structural labor market shift. The trend is emerging but not yet quantified at a macro level.