China is facing its most ‘difficult year’ this century.


Well, we’re only nine years into the new century, but this one will prove to be the most difficult one for China. Unlike many other countries, China’s change has been nothing short of astounding. The country has enjoyed 10 years of what you could call ‘extreme growth,’ and this year, Premier Wen Jibao has announced it will be a difficult year.

So what happens when the global economy forces the steaming loco of an economy that is China? Already unrest has shown its ugly head in the rural areas where people already hit hard by poverty, are hit harder again by unemployment.

China has come an amazing distance, quite possibly shaking off the 3rd world country tag, slipping comfortably into the developing country description. But what happens if it ends? China needs to progress. China needs to continue to fill the horizon with building sites and transport infrastructure. What happens if it finally catches up? All these single task workers – the builders in particular, are suddenly unemployed.

The Chinese government, like many other foreign nations, is looking to employ financial stimulus packages to try and alleviate the burden. It will be interesting to see just how cool calm and collected the greater Chinese populace can remain. One thing is for sure though, this is a country that has survived 5000 years of often turbulent history. If there is one thing the Chinese excel at, it would be enduring.

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