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Why Beijing Is In A Risky Place.(International Edition; CRISIS WATCH)(Beijing, China)
Byline: George Wehrfritz
As the factory to the world, China may be the nation most vulnerable to collapsing global demand.
Workers are losing factory jobs at the fastest rate in decades. Automakers--having failed to anticipate today's sales slump--are lobbying politicians for bailouts. The stock market is a crash heap, home prices are down by 35 percent or more in many cities and toxic assets have begun to weigh heavily on banks. America in 2008? Try China, where the global economic downturn now looks certain to end the country's 30-year growth boom, posing the greatest leadership challenge to Beijing since pro-democracy demonstrations threatened ...
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