After the Boom, The Bust. Now What?

Unemployment is on the climb in China, possibly approaching as high as 20 percent, and that could trigger some social unrest. Having lost their jobs, several million migrant workers are returning to their rural homes. Journalist Zhang Hong suggests that any unrest will be minimal as long as workers can use their savings, reduce expenses and receive fair compensation for any work done. Students are also a source of concern for the Chinese government: This year, 5.9 million college students have graduated and search for jobs. To prevent any discontent, the government focuses on creating new jobs at a massive scale. But that could be an uphill battle as the global economy continues to struggle. – YaleGlobal