Chinese slowdown may fuel social unrest

The accelerating economic slowdown in China will lead to huge unemployment and could fuel social unrest, China's top planner has said. Zhang Ping, head of the National Development and Reform commission, said the impact of the global crisis on China's economy was deepening. "Excessive bankruptcies and production cuts will lead to massive unemployment and stir social unrest," he said. A state think tank said annual economic growth would slow to 8% this quarter.The State Information Centre blamed the fall - from 9% in the third quarter - on slowing export and the property market crisis. The 8% growth forecast for the fourth quarter is still faster than any other leading economy but the Chinese authorities have already had to deal with protests from fired workers.