Looking Up – For What It's Worth
J.Walker SmithYankelovich MONITOR®
China has a novel worry about today's global recession: whether its GDP growth this year will be enough to stave off civil unrest. The magic number for the Chinese government is 8 percent, the level necessary to stay even with growth in the Chinese work force and thus to create enough jobs to avoid discord, protests and riots.
Avoiding a GDP shortfall was the rationale for China's massive $585 billion fiscal stimulus program announced in November, as well as for the additional spending programsannounced in March....