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
Topic |   Coronavirus pandemic
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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