Hao Hao ReportThe best China news and blog posts

As Chinese leaders prepare to mark the 30th anniversary of Deng Xiaoping's capitalist reforms next month, they're also frantically pumping more than half a trillion dollars into their economy in hopes of staving off a downturn. They have reason to worry. Economists say China's GDP has to grow between 7.5 and 8 percent a year just to keep up with the need for new jobs. Labor unrest has already broken out across the country: half of China's toymakers have gone bankrupt this year, throwing millions of factory workers into the streets, while cabbies angered by gas prices rioted and burned police vehicles in Chongqing a few weeks ago.