RECESSIONOMICS

No Job? Try China

The U.S. is facing some stiff competition for the title of "the land of opportunity." These days, China is where opportunity knocks, and many recent American graduates are answering the call. China's unemployment rate is at 4.3 percent in urban areas (though this number is disputed) and its economy continues to boom in spite of the global recession. Many American expats arrive in the country with little to no knowledge of the language, The New York Times reports. Instead, their familiarity with Western culture attracts employers. Entrepreneurs from abroad also find China very hospitable. One recent Harvard grad founded an academic consulting firm with just $12,000. Another recent grad, who landed a gig as a program director for a Chinese modern-dance company, explained the benefits of working there: "There is no doubt that China is an awesome place to jump-start your career. Back in the U.S., I would be intern No. 3 at some company or selling tickets at Lincoln Center."