Recession Comes to China

I've been waiting for these stories to start, and am a little surprised they took so long.

The recession hitting Europe and the United States is a terrible phenomenon, but it stands to have disproportionate political consequences for China. The political ramifications of economic downturn, undermining the government's central claim to legitimacy, are beginning to create security concerns in Beijing according to the BBC.

Economic growth has apparently slowed, and the government is projecting that although it will hold its 4.5% unemployment target for this year, it may not be able to do so next year.

These numbers seem optimistic - reports of manufacturing firms imploding overnight are all over the Chinese press, and considering the government's interest in looking good, I have to believe the official numbers run a little bit behind reality. Or ahead, as is expedient.

The no longer functioning video link to protesters in Gansu province is interesting- that western province holds large numbers of the ethnic minorities most likely to have alternative political agendas.

More, no doubt, to come.