NEWS SPOTLIGHT
World Financial Crisis and China
The Euro Zone and Japan are in a recession, and US economy is following suit. Even though the major players decided to have a consolidated response to the crisis, the current outlook of the world economy still looks grim. Experts were hoping that the safe haven to tide this crisis would be Asia, but the recent events showed that Asian economies are also vulnerable to the effects of the financial crisis. China and India may not sink into recession, but the ripple effect of what is happening in Wall Street and the Euro Markets is clearly being felt. A senior U.N. official warned of the prospect of social unrest in export-driven economies of Asia because of the global financial crisis.
Financial Crisis may worsen poverty in China
a Backgrounder by The Council on Foreign Relations
China says employment situation is critical
AFP
China employment in grim situation
Beijing Review
Top Officials meets rioters as China seeks stability
Reuters