China’s leaders MUST create 24 million new jobs EVERY YEAR vs. Obama “expects” US jobless rate (15 million in August) to persist for years.

Newt Gingrich observes the pressure on Chinese leadership to create jobs while discussing his recent trip to China.

The economic pressure the Chinese dictatorship feels to continue creating jobs can be captured by the fact that they need 24 million new jobs this next year just to break even.

Their fear is that without jobs unrest will grow and that historically in China unrest can rapidly become very destabilizing. This focuses their energy on jobs and the economy in a way no American politician can fully appreciate.

So, the Chinese leadership feels intense pressure to create 24 million jobs every single year!  Meanwhile, back in Obama’s USSR, unemployment reached 14.9 million (August – US Bureau of Labor Statistics) and  Obama & Co. appear perfectly content to simply manage expectations for this level of unemployment to persist for years, as indicated last week by Obama’s chief economic advisor, Larry Summers.

More on this later…

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