Is largely a key factor that leads to an increase in the unemployment level, intensified competition, and the entry of international companies into china?

Privatization is the biggest key factor that will lead to a rise in unemployment, intensified competition, and the entry of companies that are international into China. Privatization is when all outstanding shares of a company that is publicly traded that are outstanding are then purchased by private investors. The shares are no longer traded because the company is now private through private equity.