Tuesday, March 17, 2009
The big fat depressing recession has also hit China hard. 20 million migrant workers have lost their jobs. They worked in the factories producing the stuff that we hocked our homes to buy. 6 million recent college graduates are having a tough time getting jobs, too.
Since the banks here are in great shape, and the government doesn't have to wait for the democratic process to muddle along, stuff is happening. They have already been working on infrastructure for a while and they are encouraging people to start their own businesses with financial incentives and training. There are lots of self employed people here.
In the US, it's a lot more difficult to own your own business. Licenses, insurance, permits, labor laws, OSHA, IRS, etc, etc make it a lot more enticing to just get a job. If you can.
Posted by emsique at 6:20 PM