Crisis Unemployment In China

With nearly 4,000 years of continuous history, China is one of the world's oldest civilizations. Prior to the 19th century, it possessed one of the most advanced societies and economies in the world; but through successive dynasties it then missed the Industrial Revolution in Europe and began to decline. In the 19th and 20th century, imperialism, internal weakness and civil wars damaged the country and its economy, and led to the overthrow of imperial rule.
In 1949, after major combat ended in the Chinese Civil War, two states calling themselves "China" emerged:
The People's Republic of China (PRC), established in 1949, commonly known as China, has control over mainland China and the largely self-governing territories of Hong Kong (since 1997) and Macau (since 1999).
The Republic of China (ROC) established in 1912 in mainland China, now commonly known as Taiwan, has control over the islands of Taiwan, Penghu, Kinmen, Matsu, the Pratas island group, and a few other outlying islands.