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PostPosted: Mon Jan 25, 2016 2:38 pm    Post subject: China Reply with quote

PeakTrader:

Will China’s government survive a depression?

There are a billion rural poor and 200 million exploited factory workers.

What will they do if there’s a depression?

Will rich communist leaders fight or flee a massive rebellion?

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China Labour Bulletin
Wages and employment
4 August, 2015

Analysis and conclusion

“China’s recent wage increases began from a very low base and actual wages are still far below those in major developed economies…Wealth inequality is regularly cited in opinion polls in China as the country’s most pressing social issue, along with corruption…as the manufacturing sector shrinks, factory workers have been laid-off without proper compensation or the social-insurance payments they were legally entitled to.

The lack of social insurance coverage for China’s low-paid workers is one of the main reasons why wage increases have failed to really improve their lives. Without a pension or decent health insurance, workers often have to save whatever they can in bank deposits, wealth management schemes or the high-risk stock market in order to try to secure their future. This means that working families have little to spend on goods and services that could both improve their standard of living and boost the local economy through domestic consumption.

In addition to a decent wage, workers need a safe working environment and a social welfare safety net to ensure that their entire life savings are not at risk when they retire, are badly injured or unemployed for a long period of time.”

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BC, if compensation growth of China’s masses is too slow and saving remains high, shifting into services will be too slow, which makes a hard landing more likely.

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