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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.

Chinese social stability is based on the premise of near-total employment. The need to maintain it -- or at least its pretense -- forms the bedrock of Chinese political economy, structuring the financial system, long-term industrial policy, the incentive structure for bureaucrats and everything in between....

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