The global economic crisis is causing serious unemployment issues in China and there are concerns about rising social tensions across the huge country. Currently, the employment situation is critical, and this impact (of the financial crisis) is still unfolding."
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China has the worst underground coal fires of any country on Earth. The fires destroy as much as 20 million tons of coal annually, nearly the equivalent of Germany's entire annual production.
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China announced a huge stimulus plan this weekend valued at almost $600 billion. The move could signal another round of big spending and interest rate cuts by leading economies to stave off a recession around the world.
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It seems the red hot Chinese economy is starting to feel the effects of the global recession. Lately every new forecast of China’s economic fortunes predicts slower and slower growth rates.
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China is having trouble meeting energy efficiency and pollution reduction goals, but the government remains determined to reach the targets, a top official said Wednesday.
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The worst financial crisis in decades is slowing China's industrial boom, officials said Monday, as gloomy news from other nations deepened worries about a global recession.
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