Experts are saying the Chinese miracle is over, and while the country will probably avoid a full-blown economic crisis, the halcyon days of 8–10 percent annual growth are over.

As has been widely reported in recent weeks, there are a number of factors slowing growth, and the stock market crash is only one of the problems. The crisis is rooted in deeper issues stemming from China’s export-led growth model and debt-financed investment in the face of cutthroat global competition and declining profitability.

There has also been lots of talk about the crash’s impact on Chinese investors. But what will the slowdown mean for Chinese workers, and how will things be different from the 2008 global financial crisis?