China is about to face a challenging upcoming year amid lingering fears concerning a global financial meltdown. Declining property prices and a severe trade situation are raising serious concerns regarding the economic stability of the backbone of the world economy. more ›

We all kind of figured that it would happen someday, but it might be a little sooner than you could have imagined: Shanghai is becoming a dominant world financial center. Law firm Eversheds released a survey of over 600 economic leaders from around the world weighing in on their companies economic prospects in the coming year: those in the west had a far gloomier outlook than their eastern counterparts, and if that trend continues, international opinion could have Shanghai and London battling for the title of "world's second most significant financial center" behind New York within the next decade. Sounds crazy and/or a bit far fetched to us, especially coming from an economic outlook survey, but with China, you never know. more ›

One of the biggest threats to stability China could face is already starting to happen: millions of people, most of them migrant workers, are unemployed. Chen Xiwen, the vice head of the Central Finance and Economic Leading Group, released several disturbing figures on Monday (helpfully translated by Victor Shih): more ›