You searched for: Content Type Journal Article Remove constraint Content Type: Journal Article Publishing Institution German Institute of Global and Area Studies Remove constraint Publishing Institution: German Institute of Global and Area Studies Political Geography China Remove constraint Political Geography: China Publication Year within 25 Years Remove constraint Publication Year: within 25 Years Topic Financial Crisis Remove constraint Topic: Financial Crisis
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  • Author: Günter Schucher
  • Publication Date: 09-2009
  • Content Type: Journal Article
  • Journal: Journal of Current Chinese Affairs
  • Institution: German Institute of Global and Area Studies
  • Abstract: In the face of severe job problems, China's government has adopted a huge stimulus package in a bid to achieve eight per cent economic growth, which is said to guarantee at least enough jobs for the new entrants to the labour market. The real situation, however, will be much grimmer than statistics indicate. Unregistered groups like unemployed rural migrants, job-searching college graduates, laid-off workers and others together with the officially registered unemployed and the new market entrants could add up to 42 million altogether, while even the most optimistic estimates say only around 15 million new jobs could be created in 2009. Nevertheless, the stimulus package demonstrates an at least temporary shift in economic policy from capital-intensive to labour-intensive growth. Additionally, the new initiatives to boost social-security spending could help to address the grievances of the most vulnerable groups in the labour market. The Chinese government's reaction to the emerging employment crisis once again demonstrates the often underestimated adaptability of China's leadership.
  • Topic: Financial Crisis
  • Political Geography: China
  • Author: Margot Schüller, Yun Schüllerr-Zhou
  • Publication Date: 12-2009
  • Content Type: Journal Article
  • Journal: Journal of Current Chinese Affairs
  • Institution: German Institute of Global and Area Studies
  • Abstract: This contribution analyses the impact of the global financial crisis on the Chinese economy and the policies implemented by the Chinese government to cope with it. We argue, first, that China has not been able to decouple its economic performance from that of the U.S. and other developed countries. Second, although economic growth in the second quarter of 2009 showed that the stimulus package is working, the current development does not seem to be sustainable. In order to avoid another round of overheating, the government needs to adjust its stimulus policy. Third, the current crisis offers opportunities to conduct necessary structural adjustments in favour of more market-based and innovative industries, more investment by private companies and a stronger role of private consumption in economic growth. Fourth, with the external demand from the OECD countries declining, Chinese export companies need to further diversify their international markets and re-orient their production and sales strategies to some extent towards the domestic market.
  • Topic: Economics, Government, Financial Crisis
  • Political Geography: United States, China