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China faces an unemployment time bomb
Strip away the veneer of President Xi Jinping’s “China Dream” policy and you will find 600 million people earning just 1,000 yuan a month. Depending on the conversion rate, that works out at US$140, or $4.6 a day. It was hardly surprising then that Premier Li Keqiang would highlight the plight of this forgotten section of society in his annual state-of-the-union style speech at the National People’s Congress last week. His message was stark. Although at times, it was drowned out by the static surrounding the diplomatic drama with the United States, rising tension in Hong Kong and the economic fallout from the ... (full story)
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