Houston Community News >>
12/2/2008-- The employment outlook is
“grim” according to Yin Weimin, China’s minister of human resources and
social security. So grim, in fact, that on November 26th the People’s
Bank of China slashed rates by more than a percentage point—the most in
11 years—to boost growth. The slowing economy has led factories to cut
jobs, and there are mounting fears that the swelling ranks of the
unemployed might one day take to the streets and disrupt China’s
economic miracle. To assess such risks one must consider how high
unemployment might rise.
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