{"id":30290,"date":"2008-12-26T09:26:55","date_gmt":"2008-12-26T16:26:55","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=30290"},"modified":"2008-12-26T09:26:55","modified_gmt":"2008-12-26T16:26:55","slug":"china-in-2009-year-of-the-ox","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2008\/12\/china-in-2009-year-of-the-ox\/","title":{"rendered":"China in 2009 Year of the Ox"},"content":{"rendered":"<p>&#8220;Economic woes and key anniversaries portend trouble.&#8221; From the Economist:<\/p>\n<blockquote><p>For China\u2019s leaders, a perfect storm is brewing. Economic growth, which has helped keep the Communist Party in power, is faltering. The new middle class, hitherto a pillar of the party\u2019s support, is plunging into despondency. The coming months are studded with politically sensitive anniversaries that will focus disaffected minds on the party\u2019s shortcomings. Having endured a year of natural disasters, riots and the organisational nightmare of hosting the Olympics, the party sees little salve ahead.<\/p>\n<p>Of all the huge uncertainties that plague attempts to predict the progress of the global financial crisis, two in particular hang over China. One is the resilience of its political structure to stress of this kind. During the last several years of economic health, it has been hard to imagine anything that could dislodge the party. David Shambaugh of George Washington University, in a book published this year entitled \u201cChina\u2019s Communist Party: Atrophy and Adaptation\u201d, said the party had its problems and challenges, \u201cbut none present the real possibility of systemic collapse\u201d.<\/p>\n<p>Those challenges, however, are now mounting rapidly. The head of the IMF, Dominique Strauss-Kahn, has predicted GDP growth could fall to as low as 5-6% next year, half the rate of 2007 and far lower than anyone would have thought possible just a few months ago.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Economic woes and key anniversaries portend trouble.&#8221; From the Economist: For China\u2019s leaders, a perfect storm is brewing. Economic growth, which has helped keep the Communist Party in power, is faltering. The new middle class, hitherto a pillar of the party\u2019s support, is plunging into despondency. The coming months are studded with politically sensitive anniversaries [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[248,7663],"class_list":["post-30290","post","type-post","status-publish","format-standard","hentry","category-economy","tag-collapse","tag-financial-crisis-2008-2009","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.7 (Yoast SEO v23.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China in 2009 Year of the Ox<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2008\/12\/china-in-2009-year-of-the-ox\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China in 2009 Year of the Ox\" \/>\n<meta property=\"og:description\" content=\"&#8220;Economic woes and key anniversaries portend trouble.&#8221; From the Economist: For China\u2019s leaders, a perfect storm is brewing. 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