The increasing unemployment and continued economic slowdown could spur huge social turmoil in China, a leading communist party official said. The problems with theft and robbery will only increase the social instability the country is experiencing.
The real rate of joblessness is at 12 percent and could get to 14 percent by next year as the economy continues to slow down. China’s GDP has also decreased to 9 percent in the third quarter, down from 10.1 percent in the second quarter. Future growth rates are to be expected around 7.5 percent. To help with the country’s problems, the Chinese government passed a stimulus package and cut interest rates.
3 comments:
This hardship may be one of the real tests of whether a country can exist in the modern capitalist economy with a one party authoritarian leadership. If China really starts to crack down on those people protesting this may cause more unrest and it may hurt Chinas standing in the world in terms of soft power, but the government may also see no other choice at some point.
I agree with Jake, hard times are a true test of character. However, poverty and crime is positively correlated. So, this articles prediction is most likely correct. As unemployment increases, theft and crime will most likely increase as well.
It is surprising that China's GDP is decreasing. I thought that China was growing, but it seems even they can't escape this global economic slowdown.
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