These Charts Show How China's Economy Is Changing Amid Labor Unrest
China's rapid modernization is leveling off after decades of high growth. And the whole world is feeling it. The International Monetary Fund recently warned of the "chilling effect" on the global economy that is a result of China's transition to a new economic model focused on domestic consumption and services as well as the fear that slower growth cannot support the large debt buildup that has soared to 237 percent of GDP. Economists fear that the debt bubble could burst in a repeat of the kind of financial meltdown the U.S. experienced in 2008 or in decades of anemic growth and deflation such as Japan has experienced.
Meanwhile, China's Five Year Plan calls for a further reduction in poverty for those left behind in the years of rapid growth and the continued "greening" of the economy through the shift toward renewable energy resources. These infographics from China-U.S. Focus, a Hong Kong-based news site, offer a snapshot of China's situation today.
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Meanwhile, China's Five Year Plan calls for a further reduction in poverty for those left behind in the years of rapid growth and the continued "greening" of the economy through the shift toward renewable energy resources. These infographics from China-U.S. Focus, a Hong Kong-based news site, offer a snapshot of China's situation today.
More...