After the unemployment issues in Europe and the United States, the economic recession has had its aftermath in the China as well. The Chinese Commerce Minister Chen Deming told that the rising unemployment may cause social unrest. The Chinese government is taking measures to improve social security. The recession has crept its way to the Chinese economy and around 10 million migrant workers have lost their jobs in China.

The Chinese government is more concerned about the unemployment than the slow economic growth of the country. It plans to concentrate in the creation of more job opportunities for the graduates in universities and workforce in the countryside. The Chinese government also seeks to improve the social security system in the rural china to help improve the social security network including medicare and education.

The Chinese officials are on the Europe tour and has already signed business contract with Germany worth $10 billion. Rolls-Royce signed another deal worth $ 1.2 billion to supply and service engines for China’s Hainan Airlines Airbus. The Chinese government realizes that the economy is heavily dependent on the global economy. Hence, the global slowdown has affected the China as well. Although the growth in the GDP is considered to be slow, 8 % growth is still expected in 2009