What a wonderful week. One less evil-doer on earth, now residing in hell; and then the news that China's economy is faltering and heading into a downward spiral with massive unemployment. For a country that will one day end in a military confrontation with the US, that is good news.
In China, you don't count as unemployed until you have not worked for three years. Until that time you are laid off. That helps keep the unemployment figure low. A better figure would be between 15-20% of the urban areas are unemployed. 5-8% of rural areas. Rand Corporation came up with a number of 23% total unemployment.
300 million unemployed.
300 million employed and living under poverty
600 million living in an underclass that is not being accomodated by the new found wealth, will eventually, either have to be remedied, lowering the wealth and economic might to accomodate over 1/2 a billion, or the 1/2 billion will play a roll in change.
In any case, they are far less of a threat, because they face a very uncertain future.
UPDATE: The threat level increased. They are speeding ahead with military build-up.
China speeds pace of military buildup.. By Bill Gertz. March 3, 2008. Washington Times.
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