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China's True Unemployment Rate

Economics focus
The great wall of unemployed
Nov 27th 2008
From The Economist print edition
Joblessness in China is rising, prompting fears of social unrest. But how high is the true unemployment rate?

[The article refers to Word Bank's China Quarterly Update, which Brad Setser also recommended.  Note to yourself: First, current unemployment-stable growth rate is 9.5%, not 8%, according to the article.  Second, the policies which were called for by World Bank and others were quite similar to Maekawa Report of 1986.  Maekawa Report explicitly said it would stop further increase in land price, but it failed.  Third, the progress in rural land reform will be very interesting (Read Nov.25's Nikkei evening edition).  Fourth, the demographic effect should be taken into account.  The demographic "bonus" will turn into demographic "burden" soon.  Sixth, political economy matters.  How strong is the export-related and invetment-related vested interest?]

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