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The High Stakes of Having a Job in China

Jan 8, 2016 | 09:00 GMT
China is one of the few credible challengers to U.S. political, economic and military supremacy.

Understanding employment is fundamental to understanding how contemporary China works. The need to maintain near-universal employment -- or at least the appearance of it -- forms the bedrock of Chinese political economy, structuring the financial system, long-term industrial policy, the incentive structure for bureaucrats and everything in between. But a number of recent developments bode ill for China's industrial sector and social and political stability across the country in 2016....

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