Article

2010-12-30 China-Japan-Koreas

Beijing hikes minimum wage by 20 per cent

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Posted by Fred 2010-12-30 00:00|| || Front Page|| [1 views ] Top
File under: Commies

#1 we are fully able to control the general level of prices
That reminds me of what the Great Bernanke said in March 2007: the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained

Posted by Anguper Hupomosing9418 2010-12-30 00:36|| 2010-12-30 00:36|| Front Page Top

#2 So Beijing increases the level of productivity below which you are illegally employed.

minimum wages DO raise wages, but only because it lowers the size of the pool of workers (by creating compulsory unemployment).

A few days ago someone posted an article hoping Chinese deflation saves the Western economies...

This is your answer.

Posted by Bright Pebbles 2010-12-30 07:49|| 2010-12-30 07:49|| Front Page Top

#3 Unlike America where business and government collude to artificially create unlimited labor by open borders and thus use 'minimum wage' to cover the damage of their own actions, China has, relatively speaking, an unlimited labor market. I suspect someone is paying attention that such a situation would engender 'union' movements which in turn would create a competitor to the Party's power, if the pattern experienced in the West is any warning.

Posted by P2kontheroad 2010-12-30 09:33|| 2010-12-30 09:33|| Front Page Top

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