China overcame previous waves of unemployment in the late 1990s and during the global financial crisis in 2008-09, but the current system is seen as ill-equipped to deal with the problems presented by the coronavirus. Illustration: Kaliz Lee
China overcame previous waves of unemployment in the late 1990s and during the global financial crisis in 2008-09, but the current system is seen as ill-equipped to deal with the problems presented by the coronavirus. Illustration: Kaliz Lee

Coronavirus: is China prepared to handle an unemployment crisis?

  • Changes that helped during previous waves of unemployed in the late 1990s and during the global financial crisis are viewed as not present amid the current crisis
  • China’s state-run benefit system covers only a small portion of the country’s unemployed, while the fund is also now paying out more than it receives

China overcame previous waves of unemployment in the late 1990s and during the global financial crisis in 2008-09, but the current system is seen as ill-equipped to deal with the problems presented by the coronavirus. Illustration: Kaliz Lee
China overcame previous waves of unemployment in the late 1990s and during the global financial crisis in 2008-09, but the current system is seen as ill-equipped to deal with the problems presented by the coronavirus. Illustration: Kaliz Lee
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