LayoffBlog.com

February 1, 2009

Economic crisis: violent unrest in China

Filed under: China,economy,unemployment — DF @ 11:38 am

According to HinduBusinessLine: “The collapse of the export trade in China has left millions jobless and set off a wave of violent unrest in the country. Bankruptcies, unemployment and social unrest are spreading more widely in China than officially reported, according to an independent research that paints an ominous picture for the world economy.

[…] It was found that the global economic crisis has scythed through exports and set off dozens of protests  in three provinces vital to Chinese trade – Guangdong, Zhejiang and Jiangsu are never mentioned by the state media. According to the report in the southern province of Guangdong, three jobless men detonated a bomb in a business travellers’ hotel in the commercial city of Foshan to extort money from the management.”

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