While some show optimism towards the Chinese economy, others are taking a more cautious position. Chinese Commerce Minister Chen Deming is one of them. Rising unemployment may trigger social unrest, according to Chen. From BBC:
“I don’t worry a lot about the GDP growth, however the biggest challenge to China is unemployment,” the minister said.
“We need to create sufficient jobs for university graduates and the redundant workforce from the countryside.”
He said the Chinese government was planning to invest billions of dollars in creating a better rural social security network to help farmers.
“We need to provide better medicare insurance for them, we need to provide better guarantees for their children’s schooling and better guarantees for their pensions.”
