5: China
China has a misleading low official unemployment rate of four percent, but many experts believe it to be much higher in actuality. According to many influential professors and researchers in China, including an expert at China’s National Bureau of Statistics, unemployment rate in China is reported to be consistently over 20 percent.
The government of China does not want to seem incapable and thus has routinely reported misleading unemployment numbers on a national and local level. Part of the problem is that party officials want to gain party approval and there is a great deal of fraud when reporting the unemployment rate in each district.
Despite this inaccuracy in unemployment rates, China’s growth remains at 10 percent per year and they remain the world’s second-largest economy.
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