November 19, 2008
Beijing Tells SOEs To Avoid Layoffs
A major shift in Chinese society is underway as millions of unemployed migrant workers are returning to their home provinces, towns, villages, and farms, and Beijing is making it clear to Mandarins in the field: if they don't settle down but return to the mega cities of the coast, the attempt to redirect the economy will fail. Conditions are apparently tense as the recent disturbances in Gansu illustrate. If the mood continues it reinforces the need to enact the land reforms promised in last months Party conference.
Labels: panic of 2008
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