Tuesday, December 23, 2008

China in 2009

It looks like China, after years of economic growth, could be in trouble in 2009 because of the recession and political instability:

FOR China’s 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’s support, is plunging into despondency. The coming months are studded with politically sensitive anniversaries that will focus disaffected minds on the party’s shortcomings. Having endured a year of natural disasters, riots and the organisational nightmare of hosting the Olympics, the party sees little salve ahead.

If you're interested in Chinese economic policy and politics-- and I know there is someone out there who is-- read the whole article. It's well worth it.

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