Chinese riot police march through the city of Kangding, March 17, 2008.David Gray/Reuters (Photo: National Post)
From CNN:
BEIJING, China (CNN) -- China's job outlook is "grim," and the global financial crisis could cause more layoffs and more labor unrest until the country's economic stimulus package kicks in next year, the nation's minister of human resources and social security said Thursday.
The stimulus package, unveiled earlier this month, will pump $585 billion into rebuilding communities destroyed by the May earthquake, constructing railways, housing, airports and highways, and funding other projects.
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My Comment: This can easily accelerate into a catastrophe. When I lived in China 20 years ago, what kept the lid on popular dissent was the expectation that the economy and its benefits would greatly improve the lives of the common citizen. If this hope and expectation is taken away, the resentment and anger will be incredible.
Riots and marshal law could easily become the new way of life in China, with severe consequences to all. Will the Chinese Government survive .... the answer is yes .... for the one thing that I do know about the Chinese Government is that they will not hesitate to put troops and tanks onto the streets. But such an outcome will impact everyone .... including all of us in the west.