Addressing the COVID-19 Shock: The Potential Job Creation in China by the RCEP

In 2020, coronavirus disease (COVID-19) left around 81% of the global workforce, nearly 2.7 billion workers, affected. Employment in China was the first to be hit by COVID-19. The Regional Comprehensive Economic Partnership (RCEP) is expected to bring dynamism to China’s employment market in an era...

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Published in:International journal of environmental research and public health Vol. 19; no. 23; p. 15669
Main Authors: Wu, Xinxiong, Yong, Chen Chen, Lee, Su Teng
Format: Journal Article
Language:English
Published: Switzerland MDPI AG 25.11.2022
MDPI
Subjects:
China - epidemiology
Coronaviruses
COVID-19
COVID-19 - epidemiology
Employment
Humans
Long COVID
Post-Acute COVID-19 Syndrome
Regional Comprehensive Economic Partnership
Tedros Adhanom Ghebreyesus
Trade agreements
China
New Zealand
Australia
United States > US
social accounting matrix (SAM)
Regional Comprehensive Economic Partnership (RCEP)
coronavirus disease (COVID-19)
job creation
ISSN:1660-4601, 1661-7827, 1660-4601
Online Access:Get full text
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Summary:In 2020, coronavirus disease (COVID-19) left around 81% of the global workforce, nearly 2.7 billion workers, affected. Employment in China was the first to be hit by COVID-19. The Regional Comprehensive Economic Partnership (RCEP) is expected to bring dynamism to China’s employment market in an era of long COVID-19. This study aims to examine the number of sectoral jobs that the RCEP will create in China, with the number of skilled or unskilled labour employed in each sector. The exogenous shocks to the RCEP can be reflected in the number of jobs created through multipliers based on a social accounting matrix compiled from China’s input-output tables in 2017, combined with the employment satellite accounts compiled. The results show that the RCEP is expected to create over 17 million potential jobs in China, with unskilled labour accounting for 10.44 million and skilled labour for 6.77 million. It is even expected that there will be job losses in the metalworking machinery sector. The contribution of this paper can serve as a reference for policies to protect vulnerable sectors, further open up trade markets and strengthen cooperation among RCEP members as important measures to address the employment impact of long COVID-19.
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ISSN:1660-4601
1661-7827
1660-4601
DOI:10.3390/ijerph192315669